Broker/Data: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Favorite Futures: Treasury futures
Posts: 275 since Nov 2010
Thanks: 165 given,
Like TigerTrader, I am a long term veteran of the trading pits. The profitability of many pit traders is obvious; anyone who started out trading 1 lots and is now trading 500 lots is obviously very profitable. The pit is a real as opposed to a virtual community so the success of some of its' members is visible to all. Online communities lack that transparency.
I am sympathetic to the position of the OP (but not to his hostility to the community). For many years, academic orthodoxy had it that beating the market was statistically impossible because they thought prices moved in a "random walk". This did not mean that an individual couldn't beat the market, only that for those who did it was not the result of skill but rather of luck: if enough people constantly flip a coin, a very few people will flip a long string of heads or tails.
It would be nice for people new to the community to see long term results of online traders for exactly the reasons various posters here have enumerated, namely to have evidence that success is possible. The problem is that those in the community who are successful have no obligation to provide that evidence, and some disincentives for doing so. Among the disincentives are that increasing the population of successful traders creates competition that may hurt your own results, and that providing online evidence of wealth may make you susceptible to attack (no one wants their children kidnapped).
That being said, like the OP, I find it interesting that nobody in in this community has posted statements online. It can't be the time required or a general unwillingness to help others, because some members clearly are willing to invest a great deal of time providing other members with advice, code development, argumentation, etc. It is either privacy concerns, or that success is very rare. In my own case it is that while I am slightly profitable, my success trading online does not rise to the level of proof any reasonable person would require.
"You don't need a weatherman to know which way the wind blows..."
The following 6 users say Thank You to jstnbrg for this post:
The reason people don't post their statements is for the exact same reason people don't disclose their salaries. Sex used to be the ultimate taboo in our society. Now that any and all things sexual are out of the closet, that phobia has moved over to money. I wouldn't even consider telling my closest friends what my salary is. Only my wife and my closest friend(who is in the same line of work as me) know my annual income. Even my kids don't know.
In my experience, people will discuss what happens in their bedroom more readily than what happens in their checkbook. It has less to do with trading, per se, than it does with popular psychology about money.
We all know that the vast majority on this site have careers besides trading. If I were to start a thread asking people to disclose their salaries, there would be very few, if any takers.
The following user says Thank You to Slipknot511 for this post:
Wow, another real person. An honest, straight from the gut! WOW WOW WOW.... I can tell that you are well balanced just from your post, that you have left your EGO at the door which so few people these days are capable of. I applaud your post!
The following 2 users say Thank You to bluemele for this post:
OK, i think i got about 15 private messages since last night alone asking for it. I think ill just post an old statement on this forum if it helps you guys to get this over with. I don't know how you guys are bringing topics about sex into this.
I'll even give you a general idea on how I used it and what i was looking for when i was trading this at that time.
I no longer use this, so its not gonna hurt me.
Would that really help you guys? Would that be sufficient?
What i found really funny is that there are people on this thread claiming that im a fake, its photoshopped, im showing off and they would never post a statement since it would never help anyone, but even they sent me private messages asking to see it. I thought that was interesting.
Just hit the thanks button on the bottom, I don't want to get another 30 private messages.
The following 11 users say Thank You to Michael.H for this post: