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I think that one of the reasons you'll have a difficult time getting the
answers you want is because many successful traders are reluctant to talk
about what they do. The old adage comes to mind: "Those who know don't
talk-- and those who talk, don't know". This is obviously not true across
the board, but if you read this List for a while, you'll be able to tell who
has something worthwhile to contribute and who doesn't. On this List in
particular, when anyone mentions something that he/she might know that
others consider controversial-- it leads to criticism and personal attacks.
Who would want to invite that type of wrath?
In the past, when I've commented on techniques that I use in trading-- it
has led to a barrage of e-mail requests and inquiries and requires a lot of
time to deal with-- far more time that I care to allocate to it. I have
also attempted to teach personal friends who want to learn how to trade and
found that it simply doesn't work in most cases. It requires an enormous
amount of time and dedication, and usually turns into a very stressful
exercise in frustration.
Most of the technical side of what I've learned in the Markets over the
years had led me to develop techniques that I consider proprietary and I
have no desire to share them with anyone and have found that when I have
experimented with this in the past --with personal friends-- they don't pick
up on how to use the techniques to trade successfully anyway. For me,
trading is at least as much an Art as it is a technical endeavor and I don't
think anyone will be able to duplicate my poorly rendered version of a
Picasso.
It is fairly well known to people who have studied trading for a while, that
most who attempt it don't succeed-- particularly in day-trading. Earl and
others have discussed some of the reasons for this from many different
perspectives. IMO, people who have the desire and compulsion to become a
trader should be prepared to find their own path into the jungle. Even if a
successful trader was willing to show you his path-- it probably wouldn't
lead you to the promise land that he/she found anyway.
______________________________________
At 05:51 AM 10/24/98 -0400, you wrote:
>Hi folks..
>
>I'm getting scared. I'm just getting into S&Ps and Bonds after a long,
>long layoff from the futures business. I've delved into trading enough
>times that I'm cured of indicator fascination.
>
>Within the last two days, a newbie posted a request for all the closet
>profiteers to come out of the woodwork and let him know whether they making
>a living off day trading, and day-trading alone.
>
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