Why do they do it?

[Shakone]

Why are people still going on about this. He said he played 5 million hands. Anyone with a brain knows that's crap without even having to do the numbers, and the timing. If I count beyond 10 I am already getting bored. Nobody counts to 5 million. He doesn't have a f*ing clue how many hands he's played. Nobody knows if they've done 5 million hands. It is all BS. So either he meant it loosely and was exaggerating, or he's a liar. Either way, the statement is BS and irrlevant. And there seems to be a lot of other stuff, in fact the majority, in this thread that is BS.

 

[DashRiprock]

Why are people still going on about this. He said he played 5 million hands. Anyone with a brain knows that's crap without even having to do the numbers, and the timing. If I count beyond 10 I am already getting bored. Nobody counts to 5 million. He doesn't have a f*ing clue how many hands he's played. Nobody knows if they've done 5 million hands. It is all BS. So either he meant it loosely and was exaggerating, or he's a liar. Either way, the statement is BS and irrlevant. And there seems to be a lot of other stuff, in fact the majority, in this thread that is BS.

on another thread there was a guy saying that he had traded the same strategy for over two years and had:

* traded with 0.8 - 1.4 % risk per trade
* not had a drawdown more than 2% over 2 years
+> means in the least he never had 3 losers in a row
* had 90 winers in a row
* is trading with 1:1 r:r
* has 5% chance of 3 losers over 50 trades

each of these claims are made by a certain individual on the website.

anyone that
a) actually knows what trading is like
b) yet to make profit but not stupid
c) capable of doing multplication
d) just normal?

will realise that this is 99.99999% chance bullsh!t.

but here theres people that only can speak about trading from what they learned from a book!

 

[DashRiprock]

this as well someone whos strategy is made up of:

fibs
support and resistance
bollinger bands
2 x oscillators with 2 types of divergence
3 x timeframes
price action
donchian channels (?)
moving averages

which for everyone that knows about trading in real life knows is a totally untradable strategy.

 

[DashRiprock]

anyway my point is that its dead easy to pul a guy up on how many hands in poker hes played but when someone else wants to tell you how good it is down the yellow brick road the forum eat it up like chumps.

hint: **** on it htat hes lying.

 

[Masquerade]

Why are people still going on about this. He said he played 5 million hands. Anyone with a brain knows that's crap without even having to do the numbers, and the timing. If I count beyond 10 I am already getting bored. Nobody counts to 5 million. He doesn't have a f*ing clue how many hands he's played. Nobody knows if they've done 5 million hands. It is all BS. So either he meant it loosely and was exaggerating, or he's a liar. Either way, the statement is BS and irrlevant. And there seems to be a lot of other stuff, in fact the majority, in this thread that is BS.

Afraid that you can estimate how many hands of poker you've played. If you save the hands you can get a tracking program to analyse the hands like the ones i've suggested. There's also sites that verfiy it although they're not 100% accurate. However, i'll remain sceptical he's played 5 million hands till he shows some proof or details of sites/SNs.

 

[megamuel]

If he were to just tell us his poker username we could search it on one of the many sites for searching online poker players! Like http://www.pokertableratings.com/ or http://www.officialpokerrankings.com/ or http://www.sharkscope.com/ or http://www.pokerprolabs.com/topshark/ (You get the idea!). That will tell us exactly how many hands he's played. Settle the doubt!

 

[Masquerade]

If he were to just tell us his poker username we could search it on one of the many sites for searching online poker players! Like http://www.pokertableratings.com/ or http://www.officialpokerrankings.com/ or http://www.sharkscope.com/ or http://www.pokerprolabs.com/topshark/ (You get the idea!). That will tell us exactly how many hands he's played. Settle the doubt!

It kind of won't really as PTR didn't track the time he said he played, some of the other sites may not go that far back either. Quite convenient

 

[DionysusToast]

Guys - how low does this site have to sink before it clears out all these idiots?

Here we have BlackBison - a 'trainer of traders'. He was a pro-poker player with 5 million hands who managed to start his trading with the princely sum of 2k. Are you fncking kidding me? 2 grand?

He was trained by a failed prop trader that is so obsessed that he sleeps next to his trading screens and who for some reason has to create 'fluff' accounts to bring in returns he can't replicate with real money (by his own admission). We don't know how many fluff accounts he created but we know we have seen the best one.

BlackBisons 'technique' is to follow somebody else's calls and be take on a lot of risk. This has been done here ad infinitum and the end result is usually the same. Actually - saying that - even Spanish89 traded his own calls.

Now - what can BlackBison actually teach about trading when he's following calls someone else makes? Nothing at all. Still - he'll probably get a couple of grand out of people here - who will then probably lose 5 times that realising he's a flake.

At some point, somebody is going to lose their life savings following one of these people. It has probably happened already. For some reasons the implications of this has passed the people who run this board by.

Of course 'buyer beware' and all that - but why people that run T2W give these scammers air time is beyond me.

Don't short T2W - it really can't go any lower.

 

[meanreversion]

Don't short T2W - it really can't go any lower.

Strong downtrend .. trend is your friend .. recent breakout to the downside .. model telling me to sell T2W .. must take the signal .. now I'm short .. sell low, buy lower .. am now hoping ODT comes back in a different guise ..

 

[new_trader]

but here theres people that only can speak about trading from what they learned from a book!

You are 100% correct on that!

 

[the hare]

Of course 'buyer beware' and all that - but why people that run T2W give these scammers air time is beyond me.

I can understand sharky's motivation, and at a push, even the staff dependant on the evil empire for there living.

I simply cant understand the motivation of unpaid moderators.

 

[meanreversion]

But wait a minute, is everyone who claims trading success a scammer? Is the logic that anyone who is good necessarily won't want to teach or to share? I realise that most probably are bogus, but it's impossible there aren't one or two genuine guys out there.

 

[trader_dante]

But wait a minute, is everyone who claims trading success a scammer?

No dude. Everyone that DionysusToast doesn't like is a scammer

 

[Barramundi]

But wait a minute, is everyone who claims trading success a scammer? Is the logic that anyone who is good necessarily won't want to teach or to share? I realise that most probably are bogus, but it's impossible there aren't one or two genuine guys out there.

I guess another way to look at it is why would anyone who trades very successfully want to teach one individual how to take money off another? It's kinda pointless in a zero sum game. What could one gain from such an endeavour?

I can only see two reasons. First is if it is for money...but teaching is likely to detract from one's income as a trader, most likely. Certainly having to teach or even guide others in and out of positions would be & has been a distraction for me in the past. So I would conclude that for this reason to be valid, they would need to derive more income from teaching than they would lose due to the distraction of teaching. This hurdle is easier to jump over if you aren't very good at trading. For those at the top end, the financial benefits of teaching would not outweigh the costs.

Another potential reason would be if they are not sufficiently capitilised to make a sufficient income from trading. But if this is the case, they're hardly going to be setting up a trading education company either. Easier to work a job while trading part time.

The only other reason I see is if there is some other connection with the teacher and the student. This could be some personal relationship (eg family, friend etc), or it may be that they belong to an organisation to which they both contribute funds eg. church

So I would conclude and agree that there should be some genuine guys or gals out there, but that they are few and far between.

 

[barjon]

................I simply cant understand the motivation of unpaid moderators..........

I wonder myself sometimes Just want to keep things clean(ish) so members can talk about trading and it's pretty disheartening that so many "real" traders seem more interested in lulz talk than trading talk apart from the odd spurt from them here and there.

jon

 

[the hare]

I wonder myself sometimes Just want to keep things clean(ish) so members can talk about trading and it's pretty disheartening that so many "real" traders seem more interested in lulz talk than trading talk apart from the odd spurt from them here and there.

jon

It was T2W's management who decided to dumb down the site and promote lulz so you can hardly complain. Thats the inevitable consequences of aiming for quantity over quality.

You know as well as I do if T2W where a lulz free zone, sharky wouldnt have a business, a bunch of guys would be out of a job, and you'd be moderating one post a month.

 

[new_trader]

I wonder myself sometimes Just want to keep things clean(ish) so members can talk about trading and it's pretty disheartening that so many "real" traders seem more interested in lulz talk than trading talk apart from the odd spurt from them here and there.

jon

Poetic justice.

LULZ!

 

[SanMiguel]

The variance in poker at the highest levels is much, much higher than in trading. At the low end where the games are easier and can be beaten with a more mechanical style the variance is lower. My largest drawdown when I played professionally was about 30%.

Playing online you can do alot of volume, however, which can smooth the equity curve somewhat. Nevertheless, my equity curve over 3 years and about 5 million hands included a patch lasting over 3 months where I essentially broke even.

This was even though I was crushing the games in terms of expectancies and playing 4-8 tables at once, for 80+ hours per week. With equity swings of £10k+ a day as you can imagine it was pretty tough to stick with the 'system'

No professional poker player should drop 60% of their bankroll if they are using correct 'position sizing'. The only reason I take greater risk in trading is because the variance is lower and the edge is higher, so its worth the stretch imo..

Perhaps if you play NL though the swings are supposed to be higher.
Common knowledge is for about 20 buy ins.
For SNGs you need about 50 and for limit you need about 200-300 big blinds. It's not uncommon for people to drop most of that bankroll at some stage even when playing well.

 

[brettus]

but here theres people that only can speak about trading from what they learned from a book!

I've never read a trading book before. Has anyone read a book about swing trading? I don't know what to expect from a book about trading.

 

[meanreversion]

Is T2W a highly lucrative website for its owners?