NexusFi: Find Your Edge


Home Menu

 





Ten-thousand in Education and still not profitable!


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one bobbyacim with 22 posts (47 thanks)
    2. looks_two Cloudy with 21 posts (26 thanks)
    3. looks_3 jstnbrg with 18 posts (53 thanks)
    4. looks_4 Xeno with 17 posts (54 thanks)
      Best Posters
    1. looks_one Big Mike with 9.2 thanks per post
    2. looks_two phantomtrader with 9.1 thanks per post
    3. looks_3 tigertrader with 6.9 thanks per post
    4. looks_4 monpere with 4.9 thanks per post
    1. trending_up 113,853 views
    2. thumb_up 1,166 thanks given
    3. group 79 followers
    1. forum 334 posts
    2. attach_file 10 attachments




 
Search this Thread

Ten-thousand in Education and still not profitable!

  #51 (permalink)
 thatguy 
New Brunswick, NJ
 
Experience: Intermediate
Platform: N/A
Trading: N/A
Posts: 133 since Jun 2009
Thanks Given: 46
Thanks Received: 157


bobbyacim View Post
ONCE AGAIN MY POINT IS BEING SIDELINED! I don't want anyone to impress me with proof that consistant profitability is do-able. I want them to impress upon me that this is not the exception to the rule.


Why? What would you get out of it? Sleep better at night? Turn instantly profitable? Frankly, if this is what you are concerned about, then trading is not for you. Stop wasting your time and find something else to do.

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
ZombieSqueeze
Platforms and Indicators
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #52 (permalink)
 
bobbyacim's Avatar
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
Posts: 184 since Feb 2010


thatguy View Post
Why? What would you get out of it? Sleep better at night? Turn instantly profitable? Frankly, if this is what you are concerned about, then trading is not for you. Stop wasting your time and find something else to do.

Thanks for your concern over my sleeping pattern!

Honestly, I don't know what the long term effect would be if i was to recieve a satisfactory answer to my inquery. Perhaps it would plant a seed of inspiration and in anything thats tough to do, a little inspiration can go a long way.

Started this thread Reply With Quote
  #53 (permalink)
 
Slipknot511's Avatar
 Slipknot511 
Springfield,Missouri, USA
 
Experience: Advanced
Platform: NinjaTrader (It's a love/hate relationship)
Trading: CL, TF, 6E
Posts: 169 since May 2010
Thanks Given: 60
Thanks Received: 314


I equate education in the trading business to trying to buy a Rolex from a street vendor. You know for a fact that some are genuine and most are not. Plus the fakes are of varying quality, some excellent... others are garbage. The problem is... you aren't allowed to examine them before buying. Some are in a glass display case. Some are out in the open (but they're still "do not touch") and some only in the catalog. You have to pick one or more semi-blindly.
Now, I don't know of anyone in their right mind who would make such a major purchase under these conditions. Yet these are the exact conditions that aspiring traders have to deal with. It's insane!

As to your original question.. Of course it's the exception to the rule. We all know that 95% of traders lose.

Reply With Quote
  #54 (permalink)
 
bobbyacim's Avatar
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
Posts: 184 since Feb 2010


Slipknot511 View Post
I equate education in the trading business to trying to buy a Rolex from a street vendor. You know for a fact that some are genuine and most are not. Plus the fakes are of varying quality, some excellent... others are garbage. The problem is... you aren't allowed to examine them before buying. Some are in a glass display case. Some are out in the open (but they're still "do not touch") and some only in the catalog. You have to pick one or more semi-blindly.
Now, I don't know of anyone in their right mind who would make such a major purchase under these conditions. Yet these are the exact conditions that aspiring traders have to deal with. It's insane!

As to your original question.. Of course it's the exception to the rule. We all know that 95% of traders lose.

Great analogy!
To para-phrase TRO,

The markets are totally random, with a small trending component, Sadly even that trending component is random so it does not matter where you place a trendline, if you wait long enough, eventually a price bar will bounce off of it.

Started this thread Reply With Quote
  #55 (permalink)
 MetalTrade 
 
Posts: 1,055 since May 2010

If the markets are random how come 9 out of 10 of my trades are profitable or break even ?

Reply With Quote
  #56 (permalink)
 
bobbyacim's Avatar
 bobbyacim 
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
Posts: 184 since Feb 2010


MetalTrade View Post
If the markets are random how come 9 out of 10 of my trades are profitable or break even ?

WOW!

Dare I ask??

Is that on a consistant basis and if you had to, could you prove it?

Started this thread Reply With Quote
  #57 (permalink)
 MetalTrade 
 
Posts: 1,055 since May 2010

Yes, but it's only since a few months, so I have no clue if I will be able to do the same in 2011.

Let's see.

Reply With Quote
  #58 (permalink)
 
Slipknot511's Avatar
 Slipknot511 
Springfield,Missouri, USA
 
Experience: Advanced
Platform: NinjaTrader (It's a love/hate relationship)
Trading: CL, TF, 6E
Posts: 169 since May 2010
Thanks Given: 60
Thanks Received: 314

I'm with MetalTrade on this one... the markets are anything but random.
The markets are a manifestation of people. And people, while irrational at times, are anything but random. People are predictable.

Many confuse the ambiguity, confusion, contradictions and uncertainty that the markets make one feel, for randomness. Not the same thing.

And, just to keep this thread on topic... I personally know several people who trade for their primary, and usually only, source of income. They have done so for between 7 to 25 years. I don't think there's any better proof than that.
But the truth about the markets is irrelevant. You can only trade your beliefs. And the question is, "Can you consistently make money from those beliefs?". Based on what I've seen, I believe the answer is yes.

Reply With Quote
  #59 (permalink)
 MetalTrade 
 
Posts: 1,055 since May 2010

Maybe the reason profitable traders don't show their profits it's because they know they might be responsible in letting you loose everything you have and maybe everything what your closest family and friends have.

Reply With Quote
  #60 (permalink)
 
bluemele's Avatar
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
Posts: 2,543 since Jun 2010
Thanks Given: 3,803
Thanks Received: 2,842



Slipknot511 View Post
I'm with MetalTrade on this one... the markets are anything but random.
The markets are a manifestation of people. And people, while irrational at times, are anything but random. People are predictable.


And, just to keep this thread on topic... I personally know several people who trade for their primary, and usually only, source of income. They have done so for between 7 to 25 years. I don't think there's any better proof than that.
But the truth about the markets is irrelevant. You can only trade your beliefs. And the question is, "Can you consistently make money from those beliefs?". Based on what I've seen, I believe the answer is yes.

I completely agree that markets are people. People are VERY PREDICTABLE.

Not sure 'people' or typical people are the one's trading these days and I think the market dynamic as such has changed. I do believe that yes, it is still doable, so I do not mean to discount that, but I do believe that things like GS and other firms being able to be a bonafide 'hedger' for S&P and CL etc. makes the futures markets a little more bumpy, but still very trade-able.

Question: How do you surround yourself with profitable traders in person?

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on March 20, 2017


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts