Should sim traders who pretend to trade cash be allowed on BMT?
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Something along the lines of a "Verified Trader" status. So someone wanting to post cash basis trades or represent their work as live trades would request this status. Everyone else would either refrain from posting trades or be required to designate all of their trades are hypothetical or simulator based.
Be Patient and Trade Smart
The following 2 users say Thank You to trendwaves for this post:
Is there any reason why all of these hindsight trades can't be posted in realtime like on other trading forums out of interest?
It takes seconds to post : ''L 1415, 25tick stop''
Usually there's no excuse for price not being within a tick or so of the price you paid once the post has been published.
(In the old days on t2w and in the 'context' futures thread, some posters use to try to cheat by waiting until price moved 10ticks or so in favour of their 'position' and then post the trade! Such games should be easily spotted, though)
If the ego is so fragile, trading mightn't be ideal in the first place.
I've posted hundreds of REALTIME losers! lol
The following user says Thank You to subterfuge for this post:
I think a Journal should specify whether it is SIM or Live. As we know metrics generated in SIM without the full psychological impact of trading included are not representative of what a trading process would achieve.
However, SIM, properly documented, is a key step in developing the metrics for expectancy so it is an important part of the learning process.
If someone is doing it as a self delusional ego boost then they should be forced to disclose it is SIM no matter the reason. In the end there is no way to enforce honesty so on a forum like this "buyer beware."
Unless a trader is going for a few ticks and slippage would have a significant impact, I don't care if they are in sim or real. Nor do I care how many contracts they are trading or how much money they make. If their method works it works. Whether or not they can do it live is their own psychological business.
I'm more interested in honesty. When they say something like, "here are my trades for the day" they better be showing ALL their trades. Otherwise they are just dishonest. I don't care how helpful or how nice they are.
It's so easy just to turn on the damned trade fill feature. It takes 5 seconds, max. I've been on forums long enough to see a pattern. The most successful appearing traders are the least likely to show their actual trades, while those who are struggling are most likely to show their actual trades. I am immediately skeptical of anyone who refuses to do this.
My guess is that there just aren't that many traders who are successful enough to man/woman up and show full disclosure.
The following 6 users say Thank You to Tap In for this post:
Completely agree. Even after so much discussion in this thread, there are still so many "traders" with journals on here who are just circling their "trades". Just turn on the trade fill feature!
It should be simple:
- All journals must show fills
- Any circles drawn on charts are universally known to be trades which the person wanted to take but didn't and is highlighting them for information sake
Yes you would probably see a decrease in the number of journals. But the journals that are left will be the ones that are focused on real learning and developing.
What I find interesting is a lot of these ES scalping journals etc on here make no mention of the psychological aspects of trading. All that is posted is an endless stream of screenshots. Where is the discussion of the psychological pitfalls they're dealing with. As anyone who actually trades knows, it's the psychological side which needs journaling.
Diversification is the only free lunch
The following user says Thank You to DarkPoolTrading for this post:
Totally agree about the plot executions.
A ´´Journal´´ that is only showing winners is totally garbage, you only can learn from your mistakes or losers.
It does not care if it is sim or real money but a picture with the plot executions on is a minimum.
I´am against banning members, I think that is just a too hard punishment but I think that the best way too get rid off all those threads that are entertainment related is just asking if they could turn on plot executions in the future and if they do not do it then just close the thread.
The following user says Thank You to jsengxx2 for this post:
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I agree on these points!
we evidently have the same five or six traders / posters / thread starters / avatars / persons in mind...
we evidently reject their pompous boasts of superiority or uncanny ability to nail trades time after time....
we evidently will not ever know, because we have no right to know, nor do we have any legal right to know, nor are we partnered in a business relationship with them, to know whether or not they're real, or fake.
we do believe they're fake!
however, some just might be real, which leaves the other question of why? @wldman asked the same question, and so do I. why. Another trader (who posts very frequently) asked why?, "all to get someone to thank our post?"
I say just make the best of it and whatever is posted.
Dismiss what doesn't seem possible for me personally to achieve by emulating that post
The following 2 users say Thank You to kronie for this post:
Does it really matter if someone bends the truth? Who does it hurt except the poster?
It’s an anonymous internet forum. Don't tell me that someone might exaggerate their results. Next thing you’ll be telling me that there is no Laundry Fairy and that Politicians lie.
What other traders do and don’t do and what other traders claim they do and don’t do shouldn’t make a rats ass bit of difference to what you do.
We as forum members should be self regulating. If you think some one is BSing you then don’t read their journal.
If you want to impress the crowd, post in real time or as close to real time as possible.
It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
The following user says Thank You to deaddog for this post:
The touchstone should be full disclosure. Simulation results are alright as long as it is clearly identified as a simulation, because we all know that it's not the same as real trading.
Last edited by jodistrict; April 17th, 2014 at 03:14 PM.
