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ResearchDepartment@xxxxxxxxxxxxxx wrote:
> 1. A track record of one year is not enough to qualify anyone as being successful. A real good
> trader who has been in the business for years will often be outrun by some new upstart. Only to
> latter blow themselves out, and the old hat just keeps on doing what he/her does year after year. To
> know this leads to being successful, to not believe this leads to ruin. The quick road is also a
> short road, usually at the end of a cliff.
I'm not so sure about this. Most who do fail meet their fate fairly quickly. I would expect anyone who
has traded successfully for even a year to have a firm enough foundation and skill to be likely to be
around for a long time. As far as the "quick road" goes, you must be referring here to high risk
strategies, but while this can happen in certain markets (certainly not with stocks), only a fool would
place his or her livelihood at such a risk, and there really isn't any connection with this type of
person and newer traders anyhow.
> 2. There is a difference between being profitable and successful. How so? Well there are so many one
> shot wonders. How many on this list were around here talking to each other 4 years ago? Not many
Granted, success is measured over time - we would say that someone has been successful for longer. As
far as being on this list, length of membership is more indicative of one's use of the products, and not
trading experience. Even Omega users may get fed up and leave, or start using other software instead,
but this doesn't mean they have met with failure in any way.
> , I
> know the few, the rest are not likely to survive a flat or down market and so they wont be here 4
> years from now.
I doubt we'll ever see a flat market again, and it is investors, and not so much traders, who will
suffer from a bear market - and I would expect most of those who were able to trade today's markets
successfully to be able to adjust quite easily (clue - you will spend more time on the short side <g>).
Again, being here on this list doesn't indicate anything significant.
> 3. Would you rather know how I avoided the minefields of bullshit that is laid out there for the
> greedy sob's that are blinded by the glitter of the call of the gold rush.
That sounds good - the very idea of buying anything worthwhile is foolish, of course - unfortunately,
there are many who fall victim to it.
> 4. I am different than the typical person, most sheep are white I am black. Most believe what is
> written in a magazine, I don't. Most want to belong to a trading fraternity of online friends and
> pals, I will study with those who have weathered the test of time with me.
I agree 100%. Are there really that many traders, other than naive newbies, who think otherwise
though?
Here's my take on the question. I've picked up a few tidbits along the way, mostly from other traders
(along with a lot of useless junk of course), but I feel that one must strive by oneself to truly
achieve success. The problem with many traders is that they are far to eager to seek shortcuts, where
there are none really.
Regards,
A.J.
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