ITT: Day Trading

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>>1412087

I am a trader at a HF. 10+yrs experience in various banks (moved on from execution to prop desk) and I'm sorry to break it down to you, but all you guys are cringeworhty.

It's like flashing a frequent flyer card while pretending you're a pilot.

Just fucking stop. If you're that good, trade your strategy and have it audited by a big4 company. Collect institutional investors money and carry on. You should be a billionarire whitin less than 5 years.

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>>1412087
Ah, those were the days.
Commissions were higher, but there weren't as many jagoffs around.
I used to talk up the pennys with the most creative accounting, that worked wonders.

>>1412103
I'm starting out now as a penny stock day trader, following the advice of the likes of Tim Sykes (inb4 scammer), so even if I became amazing. The sheer float of many of the tickers I'm talking about don't allow for the likes of institutional investors.

Also if a person was "that good" he would just exponentially increase his own money without the need of taking other people's.

>>1412147
He IS a fucking scammer you imbecile.

I certainly you're not paying for his 'services'.

>>1412147
>I'm starting out now
>as a penny stock day trader

Why don't you stop right there fucktard. I work at JPM (not saying which branch) and I'd really appreciate it if you would take a long, hard look in the mirror and realize that the janitorial staff that cleans my department at night can trade better than you. You haven't even started trading anything and you're already failing by listening to some fucking shmuck online that is charging you money for fucking stock tips. I can almost guarantee that your day-trading profits will never approach half of what my end-of-year bonus is.

In other words, you're lower than pond scum.

>>1412163
>Posts all his trades
>Makes trading videos every day
>Has made people hundreds of thousands or millions that I have talked to
>Has helped me make money

So he over-advertises, clearly makes more money off teaching, owns a sketchy looking website and over-prices his DVDs, but you're telling me this makes him a scammer?

Yeah no, being a money grubbing asshole doesn't make him a scammer if his method actually works.

>>1412167
someones a lil cranky today

>>1412167
I'm literally 18 man, first year university. Calm down.

>working for a firm
>not being free and trade yourself

>>1412167
Seen the big short?

>>1412176
>Calm down
It's probably because you're describing yourself as a penny stock day trader, as if that's your job.
As opposed to, "I'm in school, fucking around with the market in my spare time".
People who put in hours learning about the markets as part of their job don't appreciate being compared to a casual participant.
This makes sense, yes?

>>1412087
I did. Made about 3 to 5% a day most days, but then I took a massive loss buying MGT at its peak and not putting a stop loss. Quit day trading then.

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>>1412087
This guy is like

The quintessential, platonic form of the douchebag.

Everything, from his shitty posture, to his stupid, lopsided facial expression that makes him look like he's trying to be alpha but fails miserably because he's an ugly autistic fuck, from his faggy haircut, from his shitty click bait website that offers virtually no advice but him bragging about how rich he is every sentence, to his shitty Instagram feed where he posts his shitty rented cars, to his self-professed career as a 'penny stock trader', to his general narcissistic demeanour despite being an average trader at best, EVERYTHING ABOUT THIS GUY just screams 'I'm an insufferable douchebag.'

I genuinely didn't believe it was possible to be this much of an asshat until I became aware of Tim Sykes.

Don't be so foolish as to put actual money in this kind of trades. You are 18, and we don't blame u for your overconfidence. But u should read up more concepts such as liquidity, spreads etc. Penny stocks? First of all, volatile as hell (if has activity), and if no activity, u can trade at all, and since its penny stock, your spreads will be very high duh.

And do u know that behind the markets, are many many high performance computers that trade all the stuff using algos? Those who spent 7-10 years studying PhD astrophysics are the ones who developed them so that they could profit from trades while u lose yours, transferring your wealth to them. Go figure.

You are young, but it is wiser to equip yourself with knowledge first before jumping into the bandwagon. Have u also read up stuff on econs? Do u even read up WSJ etc? If u do, u should really know that the econs is doing really bad now.. even stocks will be having very bad returns.

>>1412341
>u

Don't do this

>>1412087
my best friend has bought into tim sykes COMPLETELY, and it drives me nuts.

I'm not a trader but me and him always discussed going into the stock market. I got into online marketing and have been doing that for years, so I know all about the sales pitch and products of people like this guy.

my buddy discovered him when googling about stock how-tos and instantly bought into it. he literally gets mad if you say anything not positive about it.

when he first started talking about it I asked him does the guy show proof of his income claims? nope. If hes making millions in stock market why is he investing so much time to create this product when he could better spend his time making more millions? "cause he wants to help others"

You do understand that literally thousands of people make a virtual product just to sell to the masses , and he matches their methods completely, right? *gets angry*

hes bought into the website and just bought a 200 dollar DVD from the guy. "it was SO worth it"

he got like 1500 - 3k to invest and has only done a few trades so far. if you mentiona nythign about stock he starts rambling with all the buzz words he learned, but when you actually pay attention you can tell he is just regurgitating what hes heard from sykes, he always thinks "MAN i made the right call -again- i need to invest next time" when he watches things but doesnt join in

he also doesnt think for himself at all, he follows along tim sykes in some member chat and trades behind him, while at the same time acting like he knows what hes doing. Openly admits "i wouldn't want to do that anyway" when asked if hes trying to do it on his own without following.

I think hes done 5 trades so far, 3 losses and 2 wins, currently down from original bankroll

When he gets a good call he immediately forgets his previous fails and "knows" this is how hes going to get rich

He doesnt seem to understand theres a 50/50 chance of being right on every trade.

Facepalm.jpg

>>1412385
Your best friend is an idiot

>>1412385
Also:

>theres a 50/50 chance of being right on every trade.

If you actually believe this, you're an idiot as well

>>1412181
>autism
Makes sense, anon

I am a short-term (day/swing) trader that focuses on high volatility stocks and leveraged ETF's and ETN's as well as options

I was formerly employed at a boutique investment firm as an analyst and then portfolio manager. I left two some odd months ago and now trade entirely for myself.

I will stick around this thread and answer any questions. I am Series 7 and Series 66 licensed. Feel free to ask about options, volatility and philosophy of trading/speculating.

Trading is an art, risk management (bankroll maintenance) is a science that requires discipline.

Fire Away!

>>1412439
Do you use momentum models? Discretionary or systematic? Macro, technical or quantitative? Do you trade currencies? What do you think about trend following approaches?

>>1412443
I have several trading systems that I use, and when I say system I mean I use proprietary technical indicators (with varying degrees of lag, which is a property of linear filters) that help contextualize my thought processes.

My entries are discretionary, my exists are systematic.

I use a combination of macro/tech/quantitative.

I DO NOT trade currencies, I don't have any edge in that market.

I think trend following WORKS. I know of not one TRADING (not investing) professional that believes in a totally efficient market. Don't you find it ironic how a company's fundamentals change magically when it touches a 200day moving average at times?

I'll be here a while, feel free to get more esoteric.

>>1412174
if his method actually worked consistently, he would be executing it instead of selling DVDs you fucking retard.

>>1412439
What's the cheapest, HQ brooker for a starting poor day trader?

>>1412449
Thank you.
So, let's say i'm a somewhat succesful swing currency trader operating from retail basis. Let's say my strategy is a little volatile (13% win rate, losses galore and few monster runs) but yields outsized returns regularly. Somewhere in the range of 20-30% per month returns, think i might keep doing this for a while before i get capped on leverage. I have backtested my strategy AFTER i was certain it worked on forward testing and apparently it was consistent for the whole tested sample

Do you think i could get hired on the spot as a prop trader with such a track record? Or would i get laughed out of the door?
What kind of monthly percentage returns are you getting? What is your average yearly drawdown to return ratio? Any people you know of in the industry that have been making big $$$$ in currencies?
Oh and i'm also trying to learn part time how daytrading indices works. Current models i'm using on currencies are absolute shit on equities. How long did it take you to git gud? How much you've been given to manage first time you got in? How did you get the job?

Thank you!

>>1412461
What amount of trading capital are we talking? You get what you pay for. I personally use ThinkorSwim by TD Ameritrade but my trading account is 6 figures.

There are discount brokers (online) that are varying. It depends on your objectives. What instruments are you trading? If you don't have these questions answered - find a rabbi who can mentor you and don't open the account without having a plan

>>1412439
Is Tim Sykes a joke?

>>1412463
Prop Traders trade their own capital (with leverage from their prop firm depending on the firm) and as a result are on the hook for their own losses. I don't know of any prop firms that will look at a retail trader with such a high degree of variance in their returns and be excited. The goal is to make nuts and bolts everyday and scale with your strategy - maintaining a high sharpe ratio. Lots of variance is indicative of a poorly executed strategy and bad risk management. You may not get laughed out the door if you can present an audited track record showing you know how to run a business. (Trading is a business, money is our toolbox and we must keep ledgers of inventory to be successful...without a trading journal you won't make any improvements.)

My average annual rate of return on my capital this year has been ~24%. my drawdowns are hard stopped at a percentage of my trade risk, which is determined based on the volatility of my given instrument. I know a lot of people making big $$$ in everything. The key is they stay in their lane. Don't stray from your area of knowledge.

Currencies and Equities DON'T TRADE THE SAME WAY. I should say, all technical and quantitative traders I know can explain the entire basis of fundamentals better than fundamentalists can, and the inverse is not true.

To be successful as a tech/quant trader - you must contextualize against the fundamental backdrop.

What drives currency movements and what drives equities movements are totally different.

I managed a small portfolio of 25MM. I dropped out of high school and learned to program computers and became obsessed with applying data analysis to stock markets. I was then poached by the above firm and moved my way up from analyst.

>>1412473
I don't think he is a joke, I think he makes more money marketing and teaching his methods to students.

It isn't that his methods don't work. He is looking for runners with catalysts that can realize profits quickly, while setting his risk limits low. If you are right 1/2 of the time, but make 9/10 when you are right and lose 2/10 when you are wrong you are netting 1/2 * 7/10. Thats net profit. The crux of that type of strategy (all strategies) is to cut your losses incredibly quickly, and take profits when they are given. All forms of trading require emotional discipline. Trading is easy, managing your money when you see it going up and down is the hard part.

This i

>>1412449
>technical indicators
Aaaaaad into the trash you go.

>>1412475
>I don't know of any prop firms that will look at a retail trader with such a high degree of variance in their returns and be excited

Eh i was expecting that. But since i've enough capital now, i guess i will transition to equities asap and build a decent strat with lower vol. Agreed on the rest of your post, thank you senpai

>>1412480
Are you a fundamental 'investor'? How is that working for you? Share a little bit about your trading techniques!

>>1412481
No, why would you change something that is working for you? If that is legitimately profitable for you, refine your current strategy. Don't abandon a money making system to try to build a better one!

>>1412477
>This i

Candlecuck?

>>1412480
>>1412483

Memes aside, what's wrong with Fundamental/Technical? What the fuck else are you supposed to use, your intuition?

>>1412485
I am going to assume you mean candlesticks, this whole 4chan fake japanese living in parents basement lingo throws me off. the "senpais" and "desu" means nothing to me other than to signal inclusion in a special social club that never meets and only discusses suicide methods.

That said, candlesticks are a way to visually represent the High, Low, Open and Close.

Those are what matter, not candlestick patterns
I don't give a fuck what the stock looks like, I care what the stock has been DOING, this is a mental game with visual aids, not a visual game

>>1412485
A great way to describe it is thus:

Fundamentals tell you WHY, technicals tell you WHEN.

Anyone who bashes wholly one or the other - is NOT making money in the market actively, passively invested with mutual funds, etfs, or some singular equities maybe, but they are not actively trading successfully. No profitable trader is bitter and spiteful - the aggregate market does that enough anyway.

>>1412487
It's a reference to the Candlejack meme you twit.

Don't pretend you're better than this shithole if you spend your time browsing it. You're still one of us.

>>1412489
I don't know the Candlejack meme, and won't be googling it. I don't like filling my head with useless garbage. I spend my time browsing this website to add value in the form of exchange...

that saying goes "Never trade in a vacuum."

In a lot of ways, /biz/ is a wonderful contra indicator. For instance, anytime I see a $XXX ticker symbol in a thread subject line I immediately know I will NOT be trading that stock.

>>1412484
My system takes no longer than 30 minutes a day to execute and manage. I'll keep using it obviously and work on something with a lower vol on equities to fill a decent track record to show in prop.

I was actually gathering some ideas on how to do it. As much as i abhor low vol

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>>1412491
>I don't like filling my head with useless garbage
>browses 4chan

Now I know not to take you seriously.

>>1412492
When you cap your risk, you cap your gain - financial thermodynamics.

What a prop shop wants to see is consistency, low variance and scalability. Try looking into equities mean reversion pair trading.

>>1412488
>technicals tell you WHEN
Aaaaaaand out of the trash, into the toilet, and flushed. You cannot time the market in a reliable or profitable way over any statistically significant number of trades.

Like most 'trading' threads, this is a tucking dumpster fire. Just invest in appreciating assets, and do it when you have investable funds. Indexes, real estate, private equity. Anything but what's being recommended in this abortion of a thread.

>>1412494
Yeah, because you know posting in a thread on /biz/ regarding day trading signals to you that I browse all of 4chan.

If you are a trader...I am willing to bet you are unsuccessful. Probably because of your resolute confidence in your ability to "see the whole picture" when in fact - you are operating with incomplete knowledge.

>>1412174
you know he owns the site right? he can easily post only his winning trades and small loses. or just make up any trade he wants and add the little "verified" check next to it

>>1412499
This is just patently false. You can time the market in a reliable and profitable way over any number of traders.

This is not like most trading threads, because I actually make money. I do agree though - that without having experience on Wall St. You would do well to invest in appreciating assets, using dollar cost averaging, in low cost index funds or passively managed REITS.

Do NOT go out open an brokerage account and start trading just because you read a thread about it on /biz/.

If you aren't a professional with training and experience, you are going to cause yourself pain.

>>1412500
I'm not a trader, but when I do decide to start, I'll take your advice into account anon.

>>1412499
Cliff Asness - co founder of AQR (applied quantitative research) capital management. Studied under Eugene Fama (father of efficient market hypothesis) and believes market timing is not only possible...but has built a multi billion dollar business out of it. Momentum (market timing) and value (fundamentals)

James Simmons of Renaissance Technologies, was a code breaker for the NSA and built the most profitable hedge fund. They don't hire economists or financiers, just mathematicians, physicists and hard science types. They are looking for signals and patterns that are exploitable and repeatable.

Like you know, you said isn't possible...I mean...the evidence is stacked against you. There are COUNTLESS firms and individuals who are timing the market successfully. You have a stunted understanding of probability - because you are approaching it too philosophically. OR you tried trading and lost your shirt and remain bitter. I've seen kids like you all the time.

>>1412505
I am thinking you are not being facetious in which case - this is the attitude that will make you a successful trader!

Knowing you don't have the full scope, and not operating with an arrogrant premonition that you do is step one to NOT losing money.

I have shared two sayings but will share many more as trading can be ethereal and heuristics are helpful. "Strong opinions, weakly held"

>>1412499
https://www.aqr.com/~/media/files/papers/ii-back-in-the-hunt.pdf

http://papers.ssrn.com/sol3/Papers.cfm?abstract_id=962461

I have a lot more if you are interested, please don't fall for Wall St lies - If they convince you you cannot time the market then they sell you the idea that you must remain constantly invested. This makes you the perfect pawn bagholder. Wall St sells hope, their job is to keep you pumping money in to keep them getting management fees. So when you fall for the Efficient Market Hypothesis you are effectively saying to them "Take my money I am an idiot"

Thing is, most people are idiots and would do well to do exactly this.

I am sorry I mistook you for something other than an idiot.

>>1412504
>because I actually make money
And we're just supposed to believe your lies? Including those that run contrary to ask published academic research on markets?

I have a better idea .... Fuck off and go roleplay elsewhere, faggot.

>>1412508
Go learn how statistics work, loser. Pointing to isolated exceptions proves my case not yours.

>>1412517
Well I guess there is no discussing this with you. Thanks for your input, it has been valuable.

I show you evidence that you are wrong - that market timing can be done, repeatably and effectively. It SHOULD arbitrage itself out as people get wise to the strategy - but it doesn't because there are muppets like you to continue holding the bag..the more things change the more they stay the same.

Go learn how statistics work - So because John Bogle has been an exception to passive index investing and has made it big, that proves my point that passive indexing is impossible as an investment strategy. Seriously what kind of logic is this? You take evidence that you are wrong and somehow contort it to believe you are correct? Fascinating.

>>1412517
Keep arguing.

This is incredibly entertaining.

>>1412181
Autism can only be fought with autism, so I'll put my aspergers hat on just for you. You realize this is a 4chan image board, correct? The degree of pseudo-professionalism you are imposing is out of line and simply annoying. Instead of casting yourself as the experienced professional you clearly see yourself as, instead you come across much more like a pouty child, bullying a younger kid because he can't run as fast as you or swim as far from shore. So do us all a favor and shut the fuck up and if you want to stoke your own ego then find someone else who thinks you're as important as you do because you certainly won't find that here.

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>>1412475
How mad are you that im 6 figures up thanks to Bitcoin and some pump and dump alts?

How mad are you that im going to potentially double to quadruple those 6 figures in the up and comming ETC pump?

How mad are you that im just some neet about to become a millionaire and I only went to high school?

It's 2016. Time to join the crypto masterrace my friend.

>>1412529
What?

>>1412531
I think I mentioned I dropped out of high school - then spent my time learning this craft, studying and shit eventually went to college etc.

anyway here is a non time stamped pic of my YTD P/L without any incriminating info.

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>>1412536

>>1412341
Don't assume I'm a retard just because I'm 18, I know exactly the kind of market I'm dealing with. This is not my first time being interested in the markets, 3 years ago I read up on day trading because I got really interested but dropped it when I realized how hard and how much time it took. Then in my senior year I got interested in investing, I stumbled onto Tim Sykes in that time and got re-interested in day trading.

>Do u even read up WSJ etc?
This is the kind of shit that puts off people from day trading, you just assume you have to use every single indicator, media and software available or you're basically a newfag. I don't need to read the WSJ or IBD, ect. I've managed to make money without touching that.

>>1412477
Basically what I wrote here >>1412174
Being a giant douchebag who makes more off teaching and creating different websites doesn't mean he doesn't know how to trade. I don't care how insufferable his kike ass is, I've personally managed to make money off his methods and learn quite a lot.
Also his ratio is 70/30 not 50/50 to be fair.

>>1412457
Has your dumb ass at all considered that he can make more money off doing many side projects then from just day trading? Have you also considered that he may actually like it, since it fits his giant ego? (which to be fair he is deserving of)

>>1412499
>Just invest in appreciating assets, and do it when you have investable funds. Indexes, real estate, private equity. Anything but what's being recommended in this abortion of a thread.

Because day traders cannot make massive amounts of money. Retard.

>>1412544
I think a lot of non opened minded people in this thread have lost money trying to be a "trader" without making it a business venture. Everyone wants to be a "trader" but doesn't want to put in the work required.

"Errybody wanna be a body builder but don't nobody wanna lift no big ass weights"

It's great though, because the muppets throw in some scratch from their IRA's or 401K's and have NO CLUE what they are doing just that "they are a trader now!"

They lose and then like clockwork they become long term buy and hold disciples, probably while still holding some junk stock they thought would make them a millionaire.

>>1412538
Why don't you put those 100k in ETC? we going moon soon and you can then convert to BTC and stop being an embarrasing nocoiner.

>>1412531
You have my interest anon...go on

>>1412550
You must not have read what I have already written. I stick to market that are regulated on exchanges that I am fair market participant in.

What happens if an exchange runs off with all of your coins? What recompense do you have?

I stick to what I know, but would love to learn more about your vocation!

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>>1412552
Ethereum just split his blockchain in 2.
There are big agendas with deep Bitcoin pockets with interest to pump ETC to fuck Vitalik Buterin and also as a moral lesson that would show why hard forking (splitting a chain in 2) is a bad idea, specially over a bailout (Vitalik Buterin did a bailout to recover ETH that went bust during a faulty smart contract).

It's a long story unless you are in the crypto space. Anyways, the point is, there is an opportunity to get in Ethereum at febraury prices. I personally hope ETC overtakes ETH. Both because I obviously want more BTC, but because what Vitalik did was against what crypto it's all about.

I don't expect much to happen during this weekend, we'll see next week. Im getting ready and buying under 250k sats.

Take into account that deep ETH pockets are against ETC and will fight against deep BTC pockets. So this is a 50/50 gamble, where you either go bust or you make a good killing. Im going to risk a couple BTCs and hope for the best.

https://coinmarketcap.com/

Let's roll.

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>>1412556
Exchanges like Poloniex are solid. In any case, in crypto you should never hold the coins for long term in an exchange, you have to own them yourself in your wallet. Just have the coins in the exchange when you are planning to buy.
It's not like any altcoin is worth holding for long term, and having your coins for a couple weeks over there while you wait for the pump to sell is a reasonable risk.
Crypto is the wild wild west and I love it.

>>1412548
>I think a lot of non opened minded people in this thread have lost money trying to be a "trader"
Oh man, they're everywhere.
Then they hang out here, getting into screaming matches about EMH, whether or not day trading can be profitable, how great Robin Hood is, etc.

>>1412568
I mean, shit, numbers speak for themselves.

A fool believes the tallest mountain in the world is the tallest one he has seen.

Robin Hood is....unethical I think. Masquerading as something that it really isn't.

>>1412531
proof?

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>>1412567
You have me decently interested, I'll check this out. I've seen a lot of talk about crypto-currency here but never got the chance to read it since I didn't take it seriously.

>>1412573
>Masquerading
I give them props, though. What an incredible con. They proved you can squeeze money out of people without the pot or the window.

>>1412519
you are arguing with our resident indexing autist: ispaz. without putting his trip on. you will become very familiar with his style of posting as browse this board more.

>>1412567
Where do I even get started with this shit? Do you have any specific reads?

>>1412573
Do you trade any specific markets?

Also I'm not able to tell by the picture you took, but does it capture all your trades, as to say you made 104k from only 2 dozen trades or am I not seeing a scroll-bar?

>>1412624
i went to the first page of my P/L and looked at the YTD I am sure some trades are missing. I trade anything on a regulated exchange.

>>1412610
I will stick around and browse biz more since I am gainfully underemployed and just trading.

Did he get destroyed on some trades or something? Why would he be such an index lover otherwise?

>>1412639
Do you mind me asking how much you trade with and how often? Do you have any money in appreciating assets or investments?

>>1412646
I trade with about 100k and have had a good return on my trading account this year. leverage is helpful.

I have about 500k in passive long term investments. Two condos, passive indexing dividend paying investments.

I probably won't take a draw of more than 24k this year on my trading.

I have low overhead, I drive a 2011 car (4dr sedan) and have a couple motorcycles. I am more focused on traveling and experiencing things while I am young (I am 25 years old)
I don't trade everyday, just everyday there is a trade.

I am not a lavish spender - but think nothing of dropping $250 on a meal for my mother and I like to have quality clothing, but I only shop at TJ Maxx..

all commodities and consumables I try to get for cheap, I will NOT skimp expenses on meals, experiences, memories, etc.

>>1412167

people actually believe this guy

>>1412652
Your story is awfully inspiring for someone 7 years younger. How did you get into this business?

>>1412639
because he's made "millions" by index investing. and NO ONE can possibly beat the markets. because they are PERFECTLY EFFICIENT. you merely have RECENCY, SURVIVORSHIP, and RANDOM WALK to thank for your results.

do not question the bogle. bogle is life. bogle is love. bogle is god. bogle is religion.

the most amusing thing about him is that even with his reputed millions, he posts on 4chan day and night. every trading thread, you will see the same tired responses. just wait and see.

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>>1412663
here is a picture of AMD's fundamentals reacting perfectly like an efficient market should off the 200day moving average.

Praise on high Markets are so efficient they don't even form bubbles or troughs...

that guy hasn't made millions indexing. I promise. I posted some proof - so I have skin in the game.

>>1412660
I posted a bit earlier.

I dropped out of high school with the intention to join the USMC. they had recently changed the rule so they wouldn't take me because I was a HS dropout.

I attended the local community college while working as a janitor and dishwasher. I eventually moved my way up through the restaurant and became a manager of the place. but not for long - because I put salt in some assholes Parmesan shaker when he wouldn't stop harassing a waitress whom was a high school girl.

This whole time, I am an avid reader. I can compile a list of books and a brief description if you would be interested. I read at least a book a week. purposefully. I don't sleep very much and make it a point to read for an hour before I go to sleep and after I wake up.

This entire time I honed my market skills and ended up meeting the CEO of an investment firm while I was enjoying a cigar in a local shop. He became friends and he offered me an analyst position and sponsored me for my licenses.

>>1412663
Bogle made millions SELLING people on buy and hold forever.

Of course, if buy and hold forever didn't work the problems we face would be much bigger (societal breakdown)

He packaged and sold hope, and its done really well for a lot of people. except the retirees that got CREAMED from being straight indexed in 08-09. They lost 50% of their principle and had to take required minimum distributions and income to live off of.
They never made it back.

Managing actual portfolios and trading IS NOT the same as positing about some penny stock trades.

It is a serious god-damn business. Taxes, retirements, distributions. its not so simple.

When I get home from "work" (designated trading times) I make it point to continue working and developing my knowledge.

The FASTEST edge you can develop in the market is a willingness to work when other people who are better capitalized, from richer families, with better educations and means are not willing to work. Success is going from the camp of the haters to the camp of the hated...lotta successful pit traders just street smart brooklyn kids.

>>1412660
Also, I sought MENTORS.

One was a NYSE floor trader whom had retired as the head of trading for merrill lynch at the end of his career. He left after the dot com bubble.

Another was a big time NY jew. He built a successful telecom business.

The third is the smartest and most eccentric. He was a derivatives trader for credit agricole and a market maker in the CBOE.

he drives a 1995 ford ranger that he bought for 5,000 bucks.

These guys were all over 70 and I was 21. Every Tuesday and Thursday at 8am I would meet them at a local coffee shop to shoot the shit, solve the worlds problems and talk about business. "Ya gotta have a rabbi"

>>1412665
yeah i don't pay any attention to index memers. i know i'm trading and making money. it's simply not worth it to argue with them. happy with my progress so far. you can literally see in my monthly statements where i became a better trader. half the position size but 5 to 10 times more profitable per trade. and far less trades per month.

>>1412673
really happy for you. i'm from a dirt poor family. it's given me something the middle class will never have: burning ambition. the kind that makes me wake up at 2am to trade euro markets. then get up for US markets. and then go to my full time job and then get home and trade asian markets. and then on the weekends analyze missed or bad trades on the weekend. which is what i'll be doing soon as i eat some food.

>>1412693
Same here, we weren't dirt poor by any means; but this is a chess game that I cannot stand to be sub-par at.

I think you'll agree all truly profitable traders relish success for their fellow traders.

I noticed my improvement when I stopped focusing on making/losing money and started focusing on placing GOOD trades.

>>1412701
Do you have portfolio margin enabled?
ToS is constantly pushing me to get on that shit.

>>1412701
>I noticed my improvement when I stopped focusing on making/losing money and started focusing on placing GOOD trades.

and a person needs to be trading and have records before you can even begin the process of analyzing what are good or bad trades. i looked at my records. trades that had the highest probability also had the highest profit potential. no fucking shit. those setups are all i trade now.

but if you believed in EMH, you would never even attempt to trade.

>>1412103

kek, I'm working at a Top 1 Tier Investment Banking (IBD tho) and this boards makes me cringe so hard. I'm not even a trader and what they post sounds ridiculous af, but they still pretend like their gonna be millionaires in a couple years. kek

>>1412741
>>1412103
>ontheinternetnobodyknowsimadog.jpg

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>>1412087
I dabble. Fuck Tim Kikes.

>>1412673
>>1412682
>>1412687
>>1412701

So what you're really saying is I should put all my savings into a marijuana penny stock ;^ )

>>1412741
>and this boards makes me cringe so hard.
I'm still failing to see why.

>>1412167
it'll be ok anon, just take deep breaths

>>1412624
I have never read a book in my life. Forums and youtube and knowing whats bullshit from what isn't.

You'll need luck just like I will need luck with ETC. Everyone needs luck. But fundamentals and the graph is looking good to me:

https://poloniex.com/exchange#btc_etc


It's a "now or never" situation.

>>1412087
Not so much day trading as it is keeping one eye on the live platform I use all-day everyday and patiently waiting for that one good trade to come around. Might take weeks, but when they do come, it is more than worth it staring at the screen all day.

Patience and persistence are your best friends. Lunchtime and having to take a piss are your worst enemy. So don't. Gotten up too many time in the past for 15 minutes and missed something.

TAtards, what do you see when looking at this graph?

https://poloniex.com/exchange#btc_etc

>>1412768
CRASHING THIS PLANE

WITH NO SURVIVORS

>>1412499
Oh yeah anon, your attitude makes you sound REALLY rich and happy with your success.

>>1412503
Except time? Look, Kikes is an asshole, but he's not a scammer. You get an alert when he enters things before he exits them. He cannot retroactively undo a trade without people knowing, and besides that, he doesn't because he tapped on SPU the other day very quickly and I made 20% off it after everyone brought it up anyway. Your logic makes no sense.

>>1412515
>I have a lot more if you are interested
Not all of us are retards. Please, more.

>>1412673

I have no "rabbi," I'm interested in any books you can recommend.

Thanks.

>>1412809
>>1412687
I literally have a Rabbi, since I'm a kike myself, but I don't have an actual mentor and I would love one.

No idea how one gets those.

>>1412765
Give me an example

>>1412310
He's Jewish what do you expect

>>1412519
>market timing can be done, repeatably and effectively
Ha. People on /biz/ actually believe this? No wonder everyone here is a poorfag NEET.

>>1412538
>autism in image format

>>1412663
IHAZ hasn't been here in months dumbass. I suspect retards like you made him realize he was wasting his time trying to educate NEETs.

>>1412682
>They never made it back.
The markets were back to pre-2008 levels within a few years. The only people who didn't "make it back" were those who died or who got scared and sold. The rest were rewarded with one of the longest and largest secular bull markets in history.

Why would you go on the internet and lie? Any idiot can call up the charts.

And why would you samefag your own posts? No one believes that 2 random dirtpoor aspies magically transformed into successful traders. Fucking pathetic.

>>1412701
That was gold material, screen capped some of your informative post. Any Stocks we should play and a good reading list?

>>1412890
>The only people who didn't "make it back" were those who died or who got scared and sold
They didn't have a choice, they had to sell.
It's called "required minimum distribution" from an IRA. To come up with the distribution, you have to liquidate.
At the worst possible time, is what he was saying.

>>1412950
>To come up with the distribution, you have to liquidate.
The fuck you talking about? Anyone old enough to be taking RMD's will have enough in bonds to generate interest income to cover their distributions. Old people don't hold all stocks.

Jesus, this board.

>>1412880
since this thread has clearly gone to shit. let's have everybody observe how the index memer states his facts: loudly, crassly, pompously.

we had some well reasoned discussion between traders before this guy had to come in and shit it all up.

just remember this bizraelites. traders will be more than helpful and rational. the index memer will continually berate your stupidity and insist that you must follow his dogma. otherwise you will be less than dirt beneath his gold encrusted boot. just follow the same old discussions on here. index memers will constantly shit up threads. feel free to reply to me. show the world how clever you are. we're all listening. i'm closing and hiding this thread lest somehow pomposity is transmittable over the internet.

>>1413091
>Anyone old enough to be taking RMD's will have enough in bonds
Nice assumption.

>inb4: if you don't have X% in bonds, you are a retard

Jesus, these people.

>>1413093
Fuck you, nocoiner. I don't give a shit about index funds. Now stop samefagging the thread with your pretend bullshit.

>>1413097
You do understand that people plan this shit, right? It's not like they magically forget about the distributions or how to efficiently take them. It's literally their income we're talking about.

>>1413129
>people plan this shit
They don't plan crashes.
And to suggest everyone who retired then would've been fine if they just sat tight is laughable. Regardless of investment distribution, that crash made every one of those people's portfolios lighter.

>>1413139
>They don't plan crashes.
The fuck they don't. That's exactly the reason why Grandpa goes 80% bonds in the first place, retard.

Jesus, just stop.

>>1413144
lol.
What an idiot.
Go back to your basement and count your shitcoins and action figures.

>>1413149
>has no answer
>pure ad homs
gg loser

What would be constructive advice from any of you guys on how to get started with shit like swing and day trading?

These threads always go one way:

"hey I'm smart and wanna get rich, how do I get gud at trading cheap stocks and become a zillionaire"
"Don't do it, faget. You're an amateur in a professional league so just fuck off and let the algorithms make their money."
" No fuck u I wanna get gud"

And so on and so on. But clearly if you're in the position to tell someone not to do it and you have some background in it, YOU followed some path to get there and obviously learned valuable lessons and made mistakes. So what takeaway do you have? Books to read, etc.

tl;dr how does someone get into a trading discipline

>>1412087
yes i di

>>1412741
>>1412103
I know right? I'm a mollecular trader with 60+ years of experience in several supercolliders, and these faggots keep talking about petty ways to make money when they don't even know where pranrays or doggorrency come from. This board is cringe central kek

>>1412673

So you were a dishwasher, had a cigar and now you have 100k in savings?

What the fuck did I just read?

>>1412167
Sounds like an effect of the soul consuming depression that is the world of banking. Maybe you should skip the 3:00 coffee, lower the BPM a few thousand

reading this thread I have to ask: is autism a requirement to be an investment banker or is it just a coincidence that every supposed investment banker here appears to be on the spectrum?

>>1413300
I don't think too many people get into trading because they're charismatic smooth talkers.

>>1413285
Partly true. Tip for anyone wanting to enter IB in any department, go ahead and find a psychiatrist you like and secure yourself a prescription for Xanax or valium. You'll need it sooner than you think. The amount of money you'll make in this industry almost directly correlates with how much fucking stress you can take.

>>1412673
I would love that reading list!

>>1412439
You think right now is a good time to continue selling weekly covereds on CHK? I've been doing it for months with 100+ gains, but i dont know if my strat will hold through a oil downturn.

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>>1413300
It takes a bit of obsession with numbers and is very taxing on your mental state. I don't even know what to compare it to. It's mania, your mental state starts to fluctuate with the market.
Also it's just a lot to juggle and you can't ever stop juggling. Lime guy comes to mind, but holding 50 limes and the limes are always changing weight and size. Don't drop that lime! Picking it up will be hard while juggling the other 49. You have no choice but to pick it up. Oops, you dropped another lime. How will you work your way out of this one? That's the fun part: No one knows

>>1413309
Nah, youve gotta be pretty charasmatic to go along with it. You have to sell your ideas as an analyst.

>>1412103
Big 4 is absolutely useless, we just pay those Jews off and show them pretty spreadsheets and they're on their way.

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>>1413155
and what's worse
>has no bitcoins

>>1413173
read some books
get the proper brokerages (some are better than others at shorting for example)
maybe see the advice of a mentor or guru that you trust
rince and repeat this with different people and compare their strategies
try it yourself, find your own successful strategy and niche (after some failure of course)

pretty much just that

also: review ALL your trades and see WHY it was a loser or failure. if you cannot explain that, you are not doing it properly. learn from the mistakes you make.

>>1413393
>>1412531
OP here, I gave cryptocurrency an honest try today and its definetly not for me. Far too much terminology that I have no idea what is about, it sounds like a lot of it is tied to the field of programming, which I have no relationship to.

Can you please tell me why you think you'll make a lot on Bitcoin, and not any other cryptocurrency?

>>1413461
Look at the chart anon. Its performance is why.

>>1412411
agreed
>>1412414
yes, without knowing ANY other information, if i throw money into any stock, it will either go up or down at some point. 50/50 shot. how you think that's not accurate is beyond me.

now you can start arguing autistically about this factor and that factor if you want but you will be missing the entire point.

The Point: If I know -nothing- about a stock, absolutely nothing, and just claim it's going to go up or down, i have a 50/50 shot of it being right. So I -will- be right sometimes. Statistically speaking, 50% of the time.

Hence why my friend "makes good calls" once in a while that is helping cloud his judgement.

to be completely honest though, this guy has a reoccurring reputation of not thinking things through or bothering to learn key points, is fairly gullible, and is known to make poor decisions due to not thinking things through.

Then gets -really- mad when the people that warned him say I told you so.

>>1413461
Look at this:

>>1412759
Remembe when I told you yesterday about ETC going up? Today it's 15%+ and climbing.

This is how it's done. Tell OP to pick you a winner that will perform like this in 24 hours if he is that good. Oh and you could have gotten in in seconds. No need for verifications and the other million bullshit conventional trading requires.

>>1412705
I have margin enabled, I don't use it.

>>1413925
Look at what? You didn't post anything.

Also, I'm still not understanding your strategy (because you haven't given one lol). Are you coming from a purely technical perspective on crypto, and if so isn't that incredibly dangerous?

>>1413091
painfully wrong, when bull markets get toppy and exhaust themselves it is because of exuberance. You falsely believe that all retirees taking RMD's were quite comfortably in an all bond portfolio.

You can do a cursory google search on advisor allocations to realize that even a 60/40 portfolio is uncommon and most people have terrible allocations given their age.

>>1413129
You must not be a stockbroker, wealth advisor, financial advisor or licensed in ANY WAY based on your writing style and the shit you are typing.

People more often times than not have TERRIBLE plans that DON'T INCLUDE a SIX SIGMA event in 2009, less than ten years after an equally "statistically" unlikely event such as the dot com bubble.

The best laid plans are thrown out the door when you are 60 years old with five years to retirement and two kids in college.

Please post your demographic breakdown - this may help frame why you are ignorant as to the majority of savers/pensioners/nest eggers/wealth accumulators.

>>1413144
Grandpa doesn't always go 80% bonds.

You would know this if you had ever worked in the industry.

I don't go to Walmart and tell you to get back to the electronics section and stop dicking around in the bakery trying to hit on the only employee with a full set of teeth.

>>1413277
Disjointed, I know.

I was a dishwasher through college but held an avid interest in the markets. I accumulated experience through seeking mentors and reading books and placing my own money in the market (losing most of it)

As time progressed I became profitable and was hired by the founder of an investment firm, I went to work there and managed private investor capital while building my own - have recently left to trade solely for myself.

Back in the gay ass thread for the time being, here are some books on trading/investing.

Investing Primers:
*Included within will be books on how credit and debt works in our monetary system, the larger role of global economic forces and how this affects investing perspectives. This section could be very lengthy so I will do my best to abbreviate.

1) "A Random Walk Down Wall Street" by Burton Malkiel
*This book argues for what is called the 'efficient market hypothesis.' This is the belief that stocks as investments exhibit a mathematical "random walk" in that their movements are unpredictable. Most academics and economists believe this. There is a Nobel laureate named Eugene Fama that essentially championed this viewpoint and is hailed as the "father of modern finance."

2) "The Worldly Philosophers" by Robert Heilbroner
*This covers the ideas of prominent economists, Marx, Hayek, Smith etc. I can vividly remember sitting in my chair in my room and reading this book cover to cover without moving. It was a gripping read and not at all technical.

3) "The Dao of Capital" by Mark Spitznagel
* Highly successful fund manager details his personal outlook on investing and markets

4) "Beating the Street" by Peter Lynch
* A successful mutual fund manager who makes simple narrative arguments for investment analysis

5) "Fooling Some of the People All of the Time by David Einhorn
* A "boyishly infuriating" and successful hedge fund manager wrote a book detailing his intense battle with a company. This is a must-read if you enjoy real suspense or drama. It reminds me of a less recent "Barbarians at the Gate" which is a relatively well known book about the leveraged buyout of RJR Nabisco.

Technical Reads: These books will cover the different types of investment analysis, and the various types of investment vehicles.

1) "The (Mis)Behavior of Markets" by Benoit Mandelbrot
* Markets are fractal, they are self-similar and self replicating like all systems occuring in nature.

2) "Fooled By Randomness" / "The Black Swan" / "Anti-Fragile" all by Nassim Nicholas Taleb
* What we know is useless, what we don't know is useful. However, what we don't know that we "don't know" (cannot see coming) is what will be our undoing. These three books are incredibly important. They were useful in shaping my entire view on life. I highly recommend them. They are unsettling and at times haughty in that the author is an incredibly intelligent albeit abrasive man with a diverse background. The best way to describe his ideas are through examples.

As an example. A turkey fed every day for 364 days will have very solid statistical evidence that it is going to be well fed the next day, until that day is Thanksgiving. See, the turkey's statistical department had concluded that the well being of the turkey was going to go up the same as it had every other day for 99.73% of the time it had been alive. The caveat is that the other 0.27% of the time more than destroyed the former well being.

This is hardly amusing until you see it as a metaphor for the collapse of several financial institutions and the economic meltdown we experienced because of false confidence with past data.

3) "Practical Speculation" by Victor Neiderhoffer
* This man had one of the greatest track records on wall st, and one of the most spectacular blow-ups.

4) "The Intelligent Investor" By Benjamin Graham
*Known as the father of "value-investing" he believed in buying great companies at fair prices buy determining their intrinsic worth with balance sheet analysis. He believes markets mis-priced securities (stocks) and these inefficiencies could be exploited.

>>1414064
Anon: Sincere Thank you.

To add to the reading list:

Capital in the 21st century by Thomas Pikkety.

>>1414046
Well, I was talking about something different than simple margin. It's an entirely different way of calculating portfolio value.
But since you mention it, how come you don't use margin?

Highly Technical Reading:

1) The Kelly Capital Growth Investment Criterion: Theory and Practice by MacLean, Thorpe, Ziemba

2) Modelling Extremal Events: for Insurance and Finance by Embrechts, Kluppelberg and Mikosch

3) The Statistical Mechanics of Financial Markets (Theoretical and Mathematical Physics) by Johannes Voit.

Currently lurking this thread and looking at the markets in preparation for tomorrow.

>>1414114
I re-read and see now. I don't keep more than 100k in my trading account, typically and the minimum equity reqs for TD for portfolio margin = 125k.

From what I understand portfolio margin uses theoretical pricing models to calculate the loss of a position at different strikes above/below the current price of the stock/index. The largest loss identified becomes the margin requirement of the position - which often results in lower margin requirements than standard Reg T or min. maintenance.

I don't use margin period, because I don't want to amplify my trading account with someone elses money. I like my leverage in the instruments I am trading - not my capital.

>>1414119
>From what I understand
You are correct, that's how it works.

>I like my leverage in the instruments I am trading
Interesting.
Maybe you should get into futures.

>>1414129
I trade futures when the big opportunities exist. I only EVER spread though - risk is high.

>>1414129
Would there be any interest in a thread devoted investing/trading with options in conjunction with underlying stock positions.

Everyone wants to trade options - but the professionals understand their significance when they are married with underlying stocks. I would be willing to discuss different strategies, ways to analyze options given underlying stocks - and practical spread information. Nothing esoteric, I find that successful options traders use simple rhetoric and that only massive faggots say words like "iron condor" We know what it means, we just think you're a jackass.

>>1414149
I'd follow a thread like that, but unfortunately, I couldn't really contribute, I don't trade options yet.

OP; I use tradeking and i like the interface. Fairly cheap commissions and also insured.

What i'd really like to know is a good broker for shorting. After watching penny stocks the last few years, i tend to think most will go down more oft than they go up. Just wait for a pump and short the hell out of em. I feel you are far more likely to get rich doing that then if you try to bet on the next big thing.

Also I'm long on a few bio techs and I'm hoping they'll net me big so I can swing trade on oversolds. After I get out of penny stocks I'll probably play the 5-15 dollar range.

Also I don't care who you are if you're going to play penny stocks you should always set your investments up with a plan b and c and d etc. Make sure they have good book values per share, institutional ownership, revenues, and any other important fundamental you can think of.

Do your hw alot before you ever think of playing with your own money. Or just play with a little to get the feel for it.

Also, never "invest" more than you can afford to lose. It really is a tricky business.

Lastly, there are free simulators on the web if you want to give those a try.

>>1414149
Yeah sure bud just post a screenshot of your trade history that includes options and futures so we can see that you are actually profitable. Actually, post anything relating to the history of your trades since you only showed 1 number on a blacked out screenshot that could be from any fucking stock-market simulator game. Prove yourself to those of us that are actually in the game and stop show-boating for the kids on the sidelines.

>>1414149
I have absolutely no experience in options and don't intend to start anytime soon.

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Whether it's trading, or anything in life, results and only results speak for themselves.

99% of information about trading, books you read (for example in this thread) are simply written by people with insanely bad results.

>>1414201
>Just wait for a pump and short the hell out of em. I feel you are far more likely to get rich doing that then if you try to bet on the next big thing.
Basically what Tim Sykes does.

>What i'd really like to know is a good broker for shorting.
As I heard, ETrade and Interactive Brokers

>>1414218
Right, I've actually watched a few of the tim sykes vids, they really aren't bad. But all the info can be found elsewhere and I wouldn't pay his prices.

Thank you.

Also the biggest thing to remember about tim sykes is, outside of shorting, he played during the tech boom. Not to say there aren't booming stocks in the marketplace, but I feel like he had a lot easier of a time back then.

>>1414229
That's an excuse only losers use, you should be able to adapt to both bear and bull markets and positions.

>>1413343
>You have to sell your ideas as an analyst.

Unless you're in a sales desk this is utterly bs. No analyst has to sell anything. Clearly nobody here has a clue about IB

>>1414053
>The best laid plans are thrown out the door when you are 60 years old with five years to retirement and two kids in college.
No, they're not. Just because you're a beta faggot who runs scared from strategy to strategy doesn't mean you can project you insecurities onto others.

We get it: you're a poorfag who samefags his own thread for attention and fun. Apparently you don't even mind the mockery and abuse. Maybe you even like it.

But its clear to EVERYONE that you have nothing to offer in terms of business or finance, which are the subjects of this board.

So, kindly fuck off to >>>/b/ or >>>/r9k/ kthxbye.

>>1412741
>'m working at a Top 1 Tier Investment Banking (IBD tho)
>this board makes me cringe so hard

The IRONY

>>1414204
You can stick around the thread and contribute, and use your god-given brain to discern between what is legit information and what is poppy cock.

If you are actually "in the game" than you should have gathered by now based on my posts in this thread that I am "in the game"

If you can only believe that by demanding screen shots of an anonymous strangers trading account - you're a dolt.

>>1414215
This is somewhat true, I agree that 99% of people have insanely bad results. I don't think that the writers of ALL books on trading and speculating are insanely bad though. (especially those with very public track records...einhorn and neiderhoffer for example)

>>1412639
Do you have any advice on how to stop being so serious about money? Sometimes I see a MGT level stock, the way it just shoots up 40% is sometimes frightening and I keep waiting for a dip but even when I get a dip then I pessimistically think "oh its probably done at these levels" then it shoots up another buck lol.

Did you always have great psychology or did you need to do something to get the nerves to trade 100K?

>>1414274
Again, you are wrong. I have plenty of anecdotes as well as research evidence that retirement age individuals were not well positioned with age-appropriate allocations into the "great recession."

It's painfully obvious to anyone that you have not worked with individuals on a professional basis.

I think a lot of the vitriol I have received in this thread is because I posted a shitty screenshot (albeit legit) of my trading profits YTD...and I believe this board is populated by a bunch of try-hards and get rich quick guys.

There is a certain solace in knowing that no matter how many times you have thrown yourself at the market, you've lost. You've lost so consistently that you don't believe others are profitable. So seeing something like that - you pray its fake or just disregard it. Therein lies ANOTHER difference between professional traders and retail individuals throwing their money into something that they have no grasp over. The layperson seeks to rationalize or justify what they see in the markets, professionals just listen to what the market is telling them. Ask any profitable trader, they'll tell you a pulse on the market is natural with real risk on the chest.

I am not filthy rich, I am disciplined and extract money from a market with rigorous risk management. Is patience and hard work so foreign to you that you cannot believe what I think is reasonable enough to be true?

It's funny. I come into a thread trying to exchange ideas and enjoy discourse...but its ruined by a bunch of spoiled insecure brats with (probably no money) that just want to piss in a public pool....

If there are any REAL traders out there who have been following my posts, this is a perfect metaphor. Instead of learning, they thrash and kick...it isn't the market versus you...its you versus you..

>>1414322
Great question!

Developing a healthy trading psychology is one of the most difficult aspects in developing a successful trading methodology.

Dr. Brett Steenbarger has written on the psychology of trading. I highly recommend you read his blog and pick up a few of his books. http://traderfeed.blogspot.com/

The first advice on how to stop being so serious about money is to NEVER stop being serious about money. When you watch these MGT type stocks that shoot up it should be frightening - that is insane for an "efficient" market! You need to size your trades as a position of your total capital. Portfolio Value * 0.01 = max risk is widely accepted.

Stop Losses should be set as a function of ATR or some other volatility based measurement.

Trade sizing, and stop losses help alleviate the nerves of trading, it has taken me years to develop the 'stones' of just entering and exiting when my "stars" align.

If you worry about each tick, your trade size is too big. If your appropriate trade size isn't enough to profit and cover commissions, you need to have a larger account size. It's also important that you never trade your full net worth. Have a portion of your net worth dedicated to your trading.

Having hard discipline (honoring stops, not throwing good money after bad, losers average losers) are all techniques to hedge out negative trading psych. Remember, you are your own worst enemy, not the market.

>>1414149
I'd enjoy a thread like that but it would only end up like you being a guru and us just respectfully listening because Options are just weird.

If you have any book suggestions on it I think I really need to read it.

>>1414346
I don't mind sharing some of my experience in maximizing profits on positions with options. Start up a thread with a primer question and we can dive right in. I really enjoy trading discussion, especially in a teaching capacity because it helps to refine my approach.

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>Having hard discipline (honoring stops, not throwing good money after bad, losers average losers) are all techniques to hedge out negative trading psych. Remember, you are your own worst enemy, not the market.

This is why I love this board. Such comedy gold is too rare to find elsewhere

>>1414332
These people are just kids. I am 35 and remember quite well all of the stories of Boomers being destroyed because they had all of their money in say bio stocks and the market fell and they lost their retirement savings.

I really doubt that any grandpa is 85% in bonds. Thats what you would pray would happen but its not what really happens because most people even at 55-65 STILL can't retire and are trying one last ditch effort to make money to retire.

We never hear about this because Boomers just made it all back and more because the market doubled in value under Obama.

McCain was president we'd never hear the end of Boomer suicides.

Sorry 4chan you could have voted for McCain and then the Boomers you hate would be nearly all dead. ha ha jokes on you

I am kidding right now.

>>1414341
1) Thank you for giving me a boost :) Perhaps its not that I am too serious about money just my sizes... I have been using 6x margins to trade and yes I do worry about every tick. 10 cents is 100 bucks but I only have 2k.

I'll look up ATR and reduce my trading account to only money I can lose.

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Here is the first trade I made 7/29.

EVOK - Long $3.85 to $3.98 and long again from $3.94 to $4.07

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>>1414371
You are living in the real world. I think you're right a majority of the people populating this board are still scrolling through instagram praying that an audemars or lambo shows up on their doorstep. The negativity is a result of unhappiness with their current station in life - I can almost guarantee a resolute unwillingness to change as well.

Here is an accompanying photo of the trade executions

>>1414371
I am way more profitable when I don't worry about each tick. You trading 10 cents for a hundred bucks with only 2k. I am trading 1 cent for 20 bucks with 100k. Big difference psychologically.

>>1414332
>I think a lot of the vitriol I have received in this thread is because I posted a shitty screenshot (albeit legit) of my trading profits YTD...and I believe this board is populated by a bunch of try-hards and get rich quick guys.
You haven't posted shit, and yet you summarily dismiss all opinions contrary to your tiny world view as worthless. You're nothing but a roleplaying faggot, but you contend that only your posts have merit because everyone else is poor and jealous. Your entire viewpoint is predicated on the false assumption that you're more successful than the people pointing out your idiocy.

If I proved to you that I make more money than you, would you leave /biz/?

>>1414403
Hey man, i really hope you stick to it and become profitable. I knew a guy in high school like you..content to detract and accuse but had no substance of his own. Like an actor without a script. He delivers wings now, I think.

There are book suggestions above - read a few! Also, post some trades and some of your methods. We are all eager to give you constructive feedback on why you aren't making money trading.

>>1414411
Please no deflection, and no more roleplaying. Answer the question:

>If I proved to you that I make more money than you, would you leave /biz/?

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Prop trader trainee I day trade on the side AMA here is proof ya neets

>>1414432
My staying or leaving will never be contingent upon your actions...what answer could you possibly be hoping for?

You come across as intellectually vapid

i day trade on poloniex margin trading. 60 bucks a day is about average.

>>1414481
Who the fuck are you? The blowhard roleplayer samefagging with yet another ID? Kek.

My demand stands:

>If I proved to you that I make more money than you, would you leave /biz/?

>>1414486
Im the guy you asked, posting from my phone...you are a paranoid person.

My answer still stands...

>>1414486
Lol "i demand you leave /biz/!"

>>1414492
>>1414499
More samefagging, just as you were accused of earlier in the thread. You're so fucking pathetic it makes my cry.

In any event, I didn't demand that you leave. I asked if you were willing to stand by your dismissal of all the posts criticizing you and calling you out as a fraud. You claim that we're all unsuccessful and that you're some godly trader. Either you stand by that position or you don't.

Since you clearly don't, it's just more evidence that you're nothing but a roleplaying faggot with no capital, no trading experience, and an active cut-paste macro. Anyone who believes a word you post deserves to be as poor as you.

>>1414517
Youre a bitter and envious person...i have posted plenty of books and heuristics that have helped make me successul. Six figures this year...i am NOT a trading god, and didn't imply that all are unsuccesful, only the baseless haters that whine at anothers success..

Im not better than anyone, except most assuredly you. You must feel pretty inferior to put up such a fight against a roleplayer...i think youre upset that its real and youre a loser. Sorry man : /

If you have any questions about improving your trading or profitability let me know.

>>1414517
Enlighten me Anon, what do you do? Also post proofs pls.

>>1414524
>i have posted plenty of books and heuristics
Other people's knowledge, most of which are highly suspect or have already been outright debunked by actual academics with credentials.
>Six figures this year.
The lack of proof is disturbing, roleplayer.
>haters that whine at anothers success
No one here whines at success. We just hate NEET faggots who pretend to be something that they're not. You're not successful, you don't make money as a trader, and you don't have any worthwhile knowledge to share with anyone. Instead, you hold imaginary online conversations with yourself, pretending to be several different people.

And you make unsubstantiated assumptions about all the people in this thread that have called you out for your faggotry.

>If I proved to you that I make more money than you, would you leave /biz/?

Answer the question.

>>1414536
Delusional, circular logic.

I could post livestream trade and you wouldn't believe it. I have nothing to prove to anyone. The people who are appreciative of what I have shared are the ones I do it for. Not you.

If i am a samefag whats stopping me from coming back to this board regardless of my answer to your question...you are attached to some ultimatum as if its meaningful.

I am young, making good money, have a better life than you and thats all you can think about. Its killing you isnt it? My hard work paying off and you being pitiful, it tastes good knowing its all very real

>>1414557
>I could post livestream trade and you wouldn't believe it.
Yes we would. There've been a few actual successful investors visiting /biz/, and people rightfully listen to them.

The difference: they proved themselves.

>I have nothing to prove to anyone.
Yes you do. You made claims as "evidence" of the merits of your advice. Not only is that advice bad, but your authority has been repeatedly questioned. Either prove your claims or don't make them in the first place, dummy.

>If i am a samefag whats stopping me from coming back to this board regardless of my answer to your question
It's the principle of the thing, something that a lying poorfag NEET like you couldn't possibly understand. That you can't take an unenforceable bet just proves that you're only here for the attention, be it positive or negative.

You've proven that you're just an attention whore.

>thats all you can think about
I'd be happy to prove you wrong, if you agree to leave /biz/. But you get off on the attention. You're so pathetic its actually sad.

>>1414573
Real recognize real, youre the fantasy joke paper trader. Enjoy your poor life!

Lets also bring the thread back to the topic - trading intraday.no more responding to irrelevant comments from the no risk peanut gallery

>>1414536
>>1414573
Again, what do you do again and do you have proof for it?

>>1414603
>youre the fantasy joke paper trader
I'll happily post a photo of my 2015 Schedule D, if you agree to leave /biz/ when you can't top it. If you're so successful at your day-trading, this should be an easy decision.

See, we get roleplaying daytraders on /biz/ ALL THE TIME. (The fact that you've been samefagging this entire thread doesn't help your case, btw.) And we've learned that the only way to shut them up is to call them on their bullshit. You've been called out, kid.

>>1414623
Oh shit

>>1414623
Post that shit bitch

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>>1414048
Nigga are you dumb?

Look at the price yesterday when I Said ETC would go up in here:

>>1412759
>>1412531

I predicted ETC going up a day before the 21+% rise we are seeing.

Tell OP to predict you something to see if he is accurate. Otherwise its all talk no walk.

>>1414623
Post it!

>>1414690
I'm OP, and I don't claim to be an expert. I'm actually a starter if anything.


>Also, I'm still not understanding your strategy (because you haven't given one lol). Are you coming from a purely technical perspective on crypto
...still waiting for an answer.

>>1414716
Are you too fucking retarded to read, you samefagging roleplayer?

>I'll happily post a photo of my 2015 Schedule D, if you agree to leave /biz/ when you can't top it.

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>>1414721
I explained it to you here:
>>1412565
This is called fundamental analysis. I don't trust technical analysis. For example, right now there is a head and shoulders pattern forming. If I trust TA it should dump now, but im not sure about that.

What do you TA fags say?

>>1414721
Look at the fucking CHART. Im getting rich. Where the fuck is OP at?

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>>1413366
Yeah and we have plenty of money to show for it goober. Thank you

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>>1412087

Does that guy remind anyone else of ben afflek?

>>1416078
Probably more likely to start going downhill once the EMAs converge again.

>>1414316
This DESU, seek out the dude's who are public and have long standing track records.
I constantly shill Einhorn, but for good reason.

>>1414373
Could you explain those entries and exits for me? I'm trying to figure out what you buy where you did.

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>>1412087
I didn't know Tim Sykes had a dreamworks movie.

>>1412087
Why would anyone trade stocks when they could trade Forex?

-Massive leverage.

-24-7 markets so you can literally wake at 3am, make $100 and go to sleep again.

-Much better brokerage/fees

-Better technical indicator responses.

-Ez shorting and longing

-ECN and DMA means your broker can't screw you over for profit.


The only reason to actually trade (not invest) stocks vs. Forex is because in Forex you can learn if you're a failure in a week.

Whereas in the stock market it takes months/years of being a shit cunt to lose/win significant money.

>>1417679
We almost hit 0.005 and now we are going 0.01, wake up and buy, ETC is taking over ETH.

>>1412167
>pond scum
can i buy some Steve Madden stock pls

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>>1412103
>>1412741
Kek, I'm one of the Rothschilds and these posts make me cringe, like don't you realize my 2nd cousin's uncle owns you?

And these faggots have the gall to believe their life has any meaning when they post on a Senegalese swimsuit forum. Wew kek.

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>>1416078
Call me when this trading guy predicts a 75% rise a day before it happens. You can still get in, we are going 0.01+ on this train.

>>1419389
Stop sucking your own cock because you can pick a winner in a bull market. Cyptos are all taking off and you picked the second or third largest one and claimed it's going up and it did (because bull market, hype, etc.) and now you think people should actually listen to you for some reason. It's like you picked a tech stock in 1998 and it went up 20% so now you think you know what you're talking about. Protip: you don't.