Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following user says Thank You to Big Mike for this post:
As a rule there has always been a long-standing, mutual lack-of-respect between independent floor traders (who trade and risk their own capital) and institutional desk traders (who trade anything but their own capital). Sure, their jobs and careers and benefits are on-the-line, but so what, their money isn't! It's a kind of, if you're going to talk-the-talk; you better be able to walk-the-walk... and if you are trading OPM, you ain't walking-the walk.
I really think it's a case of a dominant "y" chromosome which is hereditary and passed down to all floor traders. If you're good and you can make consistent money trading, why work for someone...unless you're a pussy, and you are afraid to risk your own dough. Big difference between dropping a million in a day, of your own money, and dropping a million of UBS's billions.
The following 3 users say Thank You to tigertrader for this post:
that every one of those people on the UBS desk is 1) an employee 2) on the same team 3) gets paid a salary 4) to a person does not risk a penny of their own money in their daily vocation. If you do not understand any of those four items and how they make these groups totally different then you simply don't understand.
The following user says Thank You to wldman for this post: