china white
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ok - from my perspective (and I know some ppl here will disagree 
) I am used to trading with loads of fun attached to it - like 400 ppl on the floor, having a good laugh, getting p*ssed up after work - and sharing those golden bits and bobs that bring happy days to floor lads
as a prop trader now all i have round me is my computer, phone and someone else who is a separate story why not having a chat with other ppl on trading forums? it is a disgrace our trading room here just died, pitstock generally is not doing much better - too many ppl just cutting and pasting world news there - but with those I know and like - why not exchanging a cupl of jokes and market views as it goes?
) I am used to trading with loads of fun attached to it - like 400 ppl on the floor, having a good laugh, getting p*ssed up after work - and sharing those golden bits and bobs that bring happy days to floor lads as a prop trader now all i have round me is my computer, phone and someone else who is a separate story
why not having a chat with other ppl on trading forums? it is a disgrace our trading room here just died, pitstock generally is not doing much better - too many ppl just cutting and pasting world news there - but with those I know and like - why not exchanging a cupl of jokes and market views as it goes? 
SOCRATES
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Hello Sir, I have only just seen this.LION63 said:
The dilemma is that successful traders are islands. This is because to perfect a methodology requires single minded effort, sustained in solitude.
This effort cannot be shared, because unfortunately the result of trying to share dilutes the excercise.
I disagree with your second paragraph.
The correct procedure in dealing with processing matters is to commission specialists to carry out the trader's requirements. This is because much of this is beyond the capability of the dimwits at PCWorld, or anybody else not familiar with nitty gritties, however willing or helpful by nature.
As this is a meaningful profession, in every profession, in order to attain the exacting standard required one must only entrust these matters to recognised experts and none other.
Any other route is not really prudent, or indeed wise.
That is my view as a consequence of my experience, over a very long time.
It is further addditionally enhanced and reinforced from my point of view as an owner of diversified software rights with worldwide syndication.
Kind Regards As Usual.
Socrates,
Top of the day to you Sir.
The reason I gave that example at the time was that there was a thread where a member had enquired about upgrading his computer and it was a fairly straightforward task which could be carried out by anyone.
When it comes to trading giving or receiving advice it is slightly different and to a large degree it depends on the matter at hand. Whilst I am prepared to point people in the right direction, I would not think it prudent to cross a certain line. In saying that, a question that most members would have asked themselves at one point or another is - What am I doing here, can I learn anything and do I have anything to offer other like minded people?
I would say that anyone who answers the question in a negative way would be better suited reviewing their membership. Would I be right in saying that you and any other member who reads this agrees?
Top of the day to you Sir.
The reason I gave that example at the time was that there was a thread where a member had enquired about upgrading his computer and it was a fairly straightforward task which could be carried out by anyone.
When it comes to trading giving or receiving advice it is slightly different and to a large degree it depends on the matter at hand. Whilst I am prepared to point people in the right direction, I would not think it prudent to cross a certain line. In saying that, a question that most members would have asked themselves at one point or another is - What am I doing here, can I learn anything and do I have anything to offer other like minded people?
I would say that anyone who answers the question in a negative way would be better suited reviewing their membership. Would I be right in saying that you and any other member who reads this agrees?
"The dilemma is that successful traders are islands".... I disagree that if this is so, it is actually necessary..I have to say I wonder if you are really over generalising and introducing bias based on a small unrepresentative number of observations...that's a question by the way not a statement
a successful trader is simply someone who has distilled their knowledge of themselves into a plan of action that performs within the acceptable parameters they have established for that plan ...it is virtually an optimised solution specific to the individual so given other people are not you it has negligible worth to them...this is why after all you get such variable results when you try to teach people to do things has you do...
if you are stating that you must be an island because you cannot allow other people's beliefs and views to breakdown your emotional ability to perform to your plan then I still disagree ..to me that is simply saying I am so unsure of my central beliefs in who I am ...what I want ...what I can do etc I can be swayed by the views of others and as such I will fail to perform my plan of action...
you see where I am going with this ?
footnote...this is also why people who try to 'buy' into other people's plans are not doing themselves any favours ..they'll have to kiss a lot of frogs before they are lucky enough to stumble on one that turns into a prince
a successful trader is simply someone who has distilled their knowledge of themselves into a plan of action that performs within the acceptable parameters they have established for that plan ...it is virtually an optimised solution specific to the individual so given other people are not you it has negligible worth to them...this is why after all you get such variable results when you try to teach people to do things has you do...
if you are stating that you must be an island because you cannot allow other people's beliefs and views to breakdown your emotional ability to perform to your plan then I still disagree ..to me that is simply saying I am so unsure of my central beliefs in who I am ...what I want ...what I can do etc I can be swayed by the views of others and as such I will fail to perform my plan of action...
you see where I am going with this ?
footnote...this is also why people who try to 'buy' into other people's plans are not doing themselves any favours ..they'll have to kiss a lot of frogs before they are lucky enough to stumble on one that turns into a prince
A trader has to start somewhere. The premises are partially true, a worrying phenomenon which can be observed in the academic as well as the vocational, and post-vocational levels.
Would a student knowing that there are very few who will attain a double first, knowing how to pass exams, give advice to others? To know the right stuff to pass exams he/she has to ask for proper advice, after getting the proper advice will he/she give proper advice to others? If more know how to pass exams, his/her chances of attaining a double first will be substantially reduced. When such a student makes his/her mark at the academic level moves on to the vocational level and beyond, knowing that to be number one he/she cannot pass on his/her trade secrets to others, will he/she really give genuine advice to others?
Take the difference between two traders who started off life with unequal footing. One makes £100,000 a year and consistently makes that amount every year, but his capital at the beginning: £1,000,000. That is, he is using £1,000,000 to generate 10% returns every year. Does he have the skill? Yes. Is he successful? With consistent profits, probably yes.
Let's look at another, let's say he only has £25, but in less than 6 months he turned that £25 into £100, and he can consistently make more and bigger profits. Does he have the skill? Is he successful?
Ceteris paribus, who will be ahead in a few years time? Unless the latter dies before the first or gets stabbed in the back, it shouldn't be too hard to see the difference.
Would a student knowing that there are very few who will attain a double first, knowing how to pass exams, give advice to others? To know the right stuff to pass exams he/she has to ask for proper advice, after getting the proper advice will he/she give proper advice to others? If more know how to pass exams, his/her chances of attaining a double first will be substantially reduced. When such a student makes his/her mark at the academic level moves on to the vocational level and beyond, knowing that to be number one he/she cannot pass on his/her trade secrets to others, will he/she really give genuine advice to others?
Take the difference between two traders who started off life with unequal footing. One makes £100,000 a year and consistently makes that amount every year, but his capital at the beginning: £1,000,000. That is, he is using £1,000,000 to generate 10% returns every year. Does he have the skill? Yes. Is he successful? With consistent profits, probably yes.
Let's look at another, let's say he only has £25, but in less than 6 months he turned that £25 into £100, and he can consistently make more and bigger profits. Does he have the skill? Is he successful?
Ceteris paribus, who will be ahead in a few years time? Unless the latter dies before the first or gets stabbed in the back, it shouldn't be too hard to see the difference.
Surely the giving and taking of advice has little to do with 'traders' and more to do with 'personalities'. To state that 'successful traders neither give or take advice' is a bit too much of a generalisation in my view. It's the same in any profession: there are those that listen keenly and give freely and those that don't.
Of course, one could argue that only certain 'personalities' are successful at trading in the first place but that, again, is a generalisation which ignores the complexities of personality in favour of the convenience of categorisation (a common problem with psychometric tests).
The point is taken that many non-institutional traders can sometimes lead a solitary existence, but I still think that one will find varying degrees of giving and taking advice amongst them.
Of course, one could argue that only certain 'personalities' are successful at trading in the first place but that, again, is a generalisation which ignores the complexities of personality in favour of the convenience of categorisation (a common problem with psychometric tests).
The point is taken that many non-institutional traders can sometimes lead a solitary existence, but I still think that one will find varying degrees of giving and taking advice amongst them.
SOCRATES
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It must be.
Because it is only the unsuccessful who have cause to ask persistent questions on public boards and by PM.
Successful traders do not ask questions, as they already have the answers.
An extension of this is that once they have mastered al of this and themselves, they do not need to ask any further questions of any sort.
And as a further extension to the above and in addition to it, at this stage they are not willing to share it, and keep it to themselves and those they choose to discuss it with in private, out of schnorrer range.
That's more like it, isn't it ?
Because it is only the unsuccessful who have cause to ask persistent questions on public boards and by PM.
Successful traders do not ask questions, as they already have the answers.
An extension of this is that once they have mastered al of this and themselves, they do not need to ask any further questions of any sort.
And as a further extension to the above and in addition to it, at this stage they are not willing to share it, and keep it to themselves and those they choose to discuss it with in private, out of schnorrer range.
That's more like it, isn't it ?
SOCRATES said:
I wasn't specifically referring to 'persistent questions on public boards and by PM', which is just one medium of possible communication.
Neither does it have anything to do with successful or unsuccessful traders.
The successful are often so because they continually ask questions. These may be questions they ask of others in hope of an answer, or questions they ask of themselves and research their own answers.
The method by which they attempt to find answers will depend upon many things beyond whether or not they are a successful trader, although clearly that will have some influence.
It's unlikely that they have all the answers.
It depends upon what your definition of successful is too. Is a successful trader one who earns a living to his satisfaction from trading or one who is Bill Gates-style rich from it?
I'm not sure what this 'all' is that they've mastered, but possibly. If they don't wish to improve their position and are satisfied with all that trading gives them (financially and emotionally), and there's nothing wrong with that. However, some people continually like to drive themselves onward.
Some will, some won't.
The point I'm making is that we could have two traders earning £20million a year, one of which enjoys answering questions - from trivial to complex - about trading and one of which who doesn't.
Furthermore, one of those traders may know all he needs to know to earn £20million a year and may have no desire to learn anything else relating to trading because he's happy with his lot. Another may be quite miserable with £20million a year and may look for ways to increase that to £100million a year: therefore he needs to learn and to learn one must question.
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