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Ten-thousand in Education and still not profitable!


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Ten-thousand in Education and still not profitable!

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  #11 (permalink)
 
 
Posts: 1,081 since May 2010

I hate to say it, but after 6 years you might come to the conclusion that trading is not for you and you should seek other things in life because otherwise you will become frustrated and bitter.

I personally find your loss of $10.000 not that big, over a period of 6 years. I have spend way more in 6 months on this trading endeavor.

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  #12 (permalink)
Taipei Taiwan
 
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@bobbyacim , people are trying to help you, you just have to listen.

You have been listening to educators that tell you you need education and to spend money, yet not listening to those ( @BigMike, @FatTails, etc ) that do not want to make money, just to help.

In trading, you have to run your own race, no one can do that for you.

( How much have I spent on education ? I bought Al Brooks book and the rest was free. )

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  #13 (permalink)
UK
 
Experience: Intermediate
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bobbyacim View Post

IN 6 YEARS OF EXHAUSTIVE SEARCHING, I HAVE NOT FOUND ANY RETAIL DAYTRADER WHO UPON CLAIMING TO BE CONSISTANTLY PROFITABLE, CAN OFFER ANY CONCRETE PROOF OF SUCH. WHY?

It's a logical scenario. If you have found none, it means one of two things. Either they don't exist, or people who openly claim to be profitable generally can't back it up or can't be bothered.

Let's say someone did prove it. What would your action be?

a) accept that, be happy, go away and put the time and effort in to develop your own method
b) not believe them for some reason, and ask for more proof
c) say that's only one, and ask for more people
d) pester them with follow up questions about how they do it. Offer to help, or buy their method.

So, honestly, which would it be?

And a couple of final questions for you - what do you think anyone proving this to you online would get out of the exercise? Can you think of any reasons why they wouldn't bother?

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  #14 (permalink)
new york
 
Experience: Intermediate
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Posts: 184 since Feb 2010

"It's a logical scenario. If you have found none, it means one of two things. Either they don't exist, or people who openly claim to be profitable generally can't back it up or can't be bothered"

FINALLY!!!! SOMEONE IS FOCUSING ON THE QUESTION I POSED INSTEAD OF MUSING PSYCHOLOGY LIKE BIG MIKE HAS BEEN DOING OR THE OTHER PERSON CONCERNED ABOUT MY LACK OF EDICATE FOR TYPING IN UPPERCASE.

Look, don't we ask for proof in any other performance based endeavour; for baseball players we demand to know their batting average; football, number of touchdowns, hockey, number of fieldgoals, etc.

This is one of the few performance based endeavors that requires nothing more than a mere mention of profitability for credibility.

Hey the famous trader Gary Smith once said in an interview that consistently profitable daytraders were so few that they were the exception to the rule.

I am sure you will agree Mike, that only a fool would base a rule only on an exception!

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  #15 (permalink)
new york
 
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Posts: 184 since Feb 2010


traderwerks View Post
@bobbyacim , people are trying to help you, you just have to listen.

You have been listening to educators that tell you you need education and to spend money, yet not listening to those ( @BigMike, @FatTails, etc ) that do not want to make money, just to help.

In trading, you have to run your own race, no one can do that for you.

( How much have I spent on education ? I bought Al Brooks book and the rest was free. )

WHY IS EVERYONE VEERING OFF TOPIC??
Perhaps because no one on this forum can honestly say they are CONSISTANTLY PROFITABLE AND BACK IT UP WITH PROOF EITHER???

Although a agreed that THE RUMPLED ONE was his own worse enemy and most likely his own cause for being banned from this site as well as others. After six long and expensive years of this journey, I must concur with some of the conclusions he drew, among them;
A) THAT IF ANY METHOD OUT THERE COULD BE CONSISTANTLY PROFITABLE, IT WOULD HAVE GONE VIRAL A LONG TIME AGO AND EVERYONE WOULD KNOW ABOUT IT

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  #16 (permalink)
USA
 
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DavidHP View Post
Several points to consider:

1. TYPING IN ALL CAPS IS RUDE!!!
2. You have been looking in the wrong place.
3. You have been asking the wrong question.
4. Traders owe you NOTHING and proving profitability does nothing for them.
5. The purpose of trading is to transfer your account into mine.
(I am your competition why should I help you?)

and lastly... I owe you NOTHING... Anything I give you or allow you to see is being gracious.

Trading is tough. If you can't handle that, perhaps you need to try something else.



Thank you DavidHP for your post!!!!

This is the best reply the way I see it. Straight forward and to the point. I came to USA from Ukraine 30 years ago and in our world with in my community we have a saying one must eat some sh_t before they can get some where. The question is how fast can you be done with it. All based in the size of your spoon. I guess at this point your spoon is not big enough.

Sorry your posts got to me!!! Please try to read David's last sentence one more time, perhaps that would help. And one other point stop asking for anything to be given to you, try to give that might help. OK that would be enough I already invested more time into this then I had planed. Time to make more money.

TickVix/Gregory

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  #17 (permalink)
UK
 
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How about answering my questions then?


bobbyacim View Post

Look, don't we ask for proof in any other performance based endeavour; for baseball players we demand to know their batting average; football, number of touchdowns, hockey, number of fieldgoals, etc.

Yeah, and we ask teachers and dentists and shop owners to prove how profitable they are by posting their tax returns online.


Quoting 
Hey the famous trader Gary Smith once said in an interview that consistently profitable daytraders were so few that they were the exception to the rule.

I am sure you will agree Mike, that only a fool would base a rule only on an exception!

Gary Smith has said they exist, so what's your problem?

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  #18 (permalink)
new york
 
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Posts: 184 since Feb 2010

Ticvic,

Thanks for the advice and observation.

Folks, It looks like I am not going to get my question answered on this forum either.. Oh well, I will continue to ask this same question in hundreds of other forums until I tire.

Is anyone out there in the universe EARNING A LIVING FROM DAYTRADING SOLELY and can offer proof of such?

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  #19 (permalink)
 
 
Posts: 1,081 since May 2010

Ask velocity to see their leaderboard.

What is wrong with that proof ??

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  #20 (permalink)
UK
 
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It's a well worn path.

Trader spends years and loads of money trying to learn how to trade other people's courses and methods. Trader fails, because the courses and methods were useless, or trader failed to adapt them and put the time in. Trader gets angry and frustrated. Trader claims online that NO ONE is a profitable day trader. Profitable day trader reads post, laughs, and gets on with his real job.

I'll tell you what. I'll do you a deal. If you answer all the questions I've put on this thread so far, I'll send you a scan of my monthly trading statement which shows a decent profit from day trading alone for the month of Dec 2010. No more, no less. Some details will be blanked out. It is *probably* fakeable.

Now, I predict you won't answer the questions, or will be unhappy with the 'proof', but ask yourself, why should I bother putting any more effort than this in? Do you think I care whether or not you believe me?

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