'Holy grail' - Is 300% a month good? Thats all i can do.

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Aaronmalins said:
This is what I mean. You cant sustitute trading at home for working in an organisation that has seen 100 years of market action. You would be around people with years of professional experience who will have seen a lot of action themselves. You would have access to data we don't see and everything. Its a different ball game. It's like saying football is football but everyone knows how different the Champions Leage is from a Sunday League.
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I think part of this is true, the experience bit. BUT, the part about better data etc isn't really true. Just because someone's got a Bloomberg doesn't mean they can trade their way out of a paper bag. They still see the same prices as you and the same movements on a chart.

But with reagrd to an original point in this thread about listening to "employed" traders rather than self-employed traders. If someone's been trading a certain market full time from home for 10years he'll probably know more than some college kids who's been at XYZ bank for 6 months.

This guy's never been a bank trader but he made $1.5m last year trading the S&P...so is he not worth listening to?

Don Miller Trading Journal
 
If you have the capacity (i.e. no mental retardation)of course trading can be taught. To suggest anything else would be ridiculous. I think that certain personalities will find it easier to adjust to the demands of the job and some people will naturally be better as with everything in life. Some people are just geniuses some people can run fast but does that mean that someone who doesnt spend years learning will never be smart or that someone who trains all day wont be able to run fast? There are always outlyers. We should all know this.
 
Foredog this guy is an exception to the rule (obv) and as I said earlier I'll listen to people who make 300+ per week.

Also, as for the data thing, I've seen several posts on here saying that data can be v important for exiting trades. It all helps.
 
Aaronmalins said:
Foredog this guy is an exception to the rule (obv) and as I said earlier I'll listen to people who make 300+ per week.

Also, as for the data thing, I've seen several posts on here saying that data can be v important for exiting trades. It all helps.
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But regarding data, it's one piece in a jigsaw and you can usually tell what the picture is long before you put the last piece in (if it's not been lost!).
 
Alternatively you could say you are trading/working with people that have taken down huge institutions by making ridiculous bets. Or in the syndicated debt market, one way bets on housing market/seeking return.

Many of the pure traders soon realise bank trading is not for them and step out to HF's. I can list countles examples of incredible traders who are now at HF's having started at banks and left because they realised they have more control over what they do.
 
i honestly don't think you have a logical thought process. you look at posts, glean info and use that as your opinion. No thought whatesoever.

yesterday you were blithering about not wanting to talk to self funded prop traders/SB's, only market "pro's" (among these bank traders/asset managers who made horrific decisions). Plus you seem to hold HF's as some mythical pinnacle to trading. Look at their returns for the year and see how good the average was, and how many closed their doors or suspended redemptions. Yes, there are some absolute diamonds out there but these are few and far between. Understand what most hedge funds do (borrow and leverage massively, then make bets they can't really afford to finance). not to mention those that traded in the CDO/MBS market taking out the equity tranche for monster returns (back to that one way bet on the housing market again).

I mean earlier on today you didn't know what an ETF did aside from "lose lots of money last year". Do some research and understand when people are trying to actually offer advice. You have a great skill at rubbing people up the wrong way.
 
£30,000 today in the first 4 hours...

I'm proud of you guys for turning this into a nice discussion :) x

I agree with Aaron... You guys only disagree because your home-traders and want to be considered 'great' and 'full of advice' too...
 
julian said:
I cant believe Halotrader has been on the site 3 months, has a bigger rep than me, started what turns out to be a great thread, and yet talks B%4^54S
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Maybe because in amongst the bull****, i occasionally say something worth repping, whereas you are just consistantly average not really adding anything, just commenting on things people were aware of, without adding any wit.

If you phrased that better, i may have repped you - but once again you failed.

:whistling
 
And you have great skill exaggerating and twisting what people say.

I said on this website I will only listen to professionals or people who make over £300 p/w trading themselves as this will increase the odds of getting decent information given the amount of 10p/point sbers who are on the site. (but thats not logical)

I then went on to explain why I think people working as professional traders are better then people who trade from home (not logical either) and I got a load of balls from a lot of people.

I'm not going to argue with you anymore as you obviously have a problem with my personality and not my arguement so this is going to go nowhere.
 
HaloTrader said:
£30,000 today in the first 4 hours...

I'm proud of you guys for turning this into a nice discussion :) x

I agree with Aaron... You guys only disagree because your home-traders and want to be considered 'great' and 'full of advice' too...
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Oh dear, I've all heard/seen all this before, the perfect system etc etc etc etc, if it was that ******* good, why the hell bother discussing it here, you'd go out and earn you dosh!, for me to believe anything I read on these boardds these days, I need to see visual evidence rather than just claims, so make it authentic, screen shot your P/L from last week, black out everything that might suggest we might poach your "system", let see how successfull you are, maybe then we can take you seriously, until then, I'll be smiling at the money you allege to be making. I could say "I made a milllion last week", until I show you a trading statement, it means Jack Sh*t.... I await site of your P/L acct to back up your 300%, doubt I'll/we'll see it though.
 
i have a problem with your personality yes. what i don't get is why you will only listen to certain people. or indeed how you would distinguish between someone earning £250 p/w or someone earning +/- 1m a day.

personally i listen to everything everyone has to say. more information is always better. regardless of where or who it comes from.

i am just saying to you (given your position of wanting to break into trading) take on board what people have to say.
 
gooseman said:
Plus you seem to hold HF's as some mythical pinnacle to trading. Look at their returns for the year and see how good the average was, and how many closed their doors or suspended redemptions
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I suppose all the owners sold their cars for food money and signed on the dole too eh.
 
gooseman said:
more information is always better. not if its wrong information

I am just saying to you (given your position of wanting to break into trading) take on board what people have to say. I do listen to people. I just pick who I listen to... Why don't you listen to everyonerich?
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I distinguish who I thinkmakes over 250-300 p/w by looking at their trades in thread like potential set ups. Maybe I'm wrong but it's the best I've got to go on.
 
that's not what my point was. I was not referring to their personal finances (I'm sure many, if not all of these people have made a very healthy living) but was talking about their trading performance as a fund/fund manager. There are enough examples out there of failed funds if you looked. Here's one to start you off: Long Term Capital management.

Just because you are a hedge fund doesn not make you a good trader.
 
Dinos said:
Oh dear, I've all heard/seen all this before, the perfect system etc etc etc etc, if it was that ******* good, why the hell bother discussing it here, you'd go out and earn you dosh!, for me to believe anything I read on these boardds these days, I need to see visual evidence rather than just claims, so make it authentic, screen shot your P/L from last week, black out everything that might suggest we might poach your "system", let see how successfull you are, maybe then we can take you seriously, until then, I'll be smiling at the money you allege to be making. I could say "I made a milllion last week", until I show you a trading statement, it means Jack Sh*t.... I await site of your P/L acct to back up your 300%, doubt I'll/we'll see it though.
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Read the entire thread before saying silly things - You ignorant fool.

P.s. I've already posted a snippet of my trades if you go back...

I can't believe you think i'm lieing... Your just jealous i made £45,000 today and you didn't. Omg 'thats so unfair' get over it....

Come on the thread, calling 'bull****' like a smartarse and you've no idea of whats been happening in previous posts - What an idiot. Your like me, but without big muscles and intelligance, and good looks.
 
Quite clearly I offended you by my remarks. I was remarking about what you had said and not you as a person,so there is no need to get personel. I really hope you do have a system that makes 300% every month.I wish I hadnt made that post as it has clearly interupted some great thoughts. So to end the matter I will increase your rep and thank you for starting a wonderful thread.
 
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