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Doc,
Thanks for your candid answer. Several things have been incorrectly assumed
about what I said about getting help from a highly successful former
{floor} trader. First, I never said that I had gotten personal direct help
from such a trader, I said that I had gotten honest trading guidance form a
highly successful former {floor} trader. Reading a book by a person is a
way that a person can get trading guidance form a highly successful former
floor trader.
I also never said that I had one hour of instruction, I was referring to 1
hour of study such as a college gives which means about 1 hour or class
time per week for a term. The things I learned were not revolutionary, but
they profoundly changed may behavior and effectiveness. Why this person
choose to give this type of help I can't say, but it is true that he freely
gave it. I wont say more here but if anyone wants to know more about this
type of help write me personally. Just so no one misunderstands there is
nothing in this for me.
Brent
----------
> From: THE DOCTOR <droex@xxxxxxxxxxxx>
> To: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
> Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Degree in trading (Alternative)
> Date: Friday, July 17, 1998 9:57 PM
>
> The only help I had getting started was someone showing me how to fill
out the
> application for purchasing a seat.
>
> Many of the successful folks did in fact apprentice for some of the more
famous
> traders. Jon Najarian(First Chapter of "Supertraders)apprenticed on the
CBOE
> floor for another very successful trader. As an apprentice he was paid
"0".
> The current salary for folks who clerk for independents at CBOE is "0".
In
> essence you pay to earn. In essence that is my point. The way to learn
is to
> learn. Lots of firm will train qualified folks to trade for them. In
exchange
> for which they will want to own your "soul" for the next 2 or 3 years.
>
> You want to give up a couple years of income, a pretty hefty price, then
you
> might get a shot. There isn't a day that goes by that a resume doesn't
shop at
> CBOE from someone currently very successful....looking to give it up all
up to
> learn how to trade.
>
> I know NOBODY REALLY GOOD who gives it away.......everybody pays a pretty
high
> price. There ain't no easy cheap way to do it.
>
> BrentinUtahsDixie wrote:
>
> > Doc,
> >
> > Did anyone like this ever voluntarily help you when you were starting?
Most
> > of the traders interviewed in Market Wizards were helped by someone at
one
> > time or another. Just curious.
> >
> > Brent
> >
> > ----------
> > > From: THE DOCTOR <droex@xxxxxxxxxxxx>
> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > > Subject: Re: Degree in trading (Alternative)
> > > Date: Friday, July 17, 1998 7:43 PM
> > >
> > > I know a good number of highly successful traders and I fail to see a
> > compelling
> > > reason why anyone would assume they would be willing to share the
wisdom
> > they
> > > have acquired over the years. At the same time most of the folks who
> > sell
> > > trading expertise couldn't trade their way out of a one lot oex
option
> > the day
> > > before expiration.
> > >
> > > Some thought IIT(Illlinois Institute of Technology)runs a college
> > > program..endowed by much of the trading community to train traders.
It
> > was
> > > essentially established by the Chicago trading community to develop
> > "talent" on
> > > an mid to entry level of trading skill.
> > >
> > > Tony Saliba..profiled in Market Wizards does in fact run a school for
> > > professional option traders. It is used extensively by the
professional
> > > community both in the US and Internationally. The only hang-up is it
> > cost a
> > > bundle ($10,000 + the last time I saw a price list). Most of the
major
> > > proprietary trading firms do in fact runs in house schools, but they
are
> > just
> > > that. They are designed for their future floor staffs.
> > >
> > > I'm kind of dismayed by the assumption that anyone would expect any
of
> > these
> > > successful traders to really give it away.
> > >
> > > If I had developed a really valuable methodology for trade I would
trade
> > it...
> > > not sell if. And that is exactly what they do.
> > >
> > > Glenn Pederson wrote:
> > >
> > > > On 16 Jul 98 at 13:37, BrentinUtahsDixie wrote:
> > > >
> > > > > 1 hour honest trading guidance from a magnanimous highly
successful
> > former
> > > > > trader
> > > >
> > > > Anyone know how to find these highly successful traders willing to
> > > > give you an hour of their time? I have been in this business for
> > > > many years and have yet to come across any successful traders.
> > > >
> > > > Thanks,
> > > >
> > > > Glenn
> > > > gpeder@xxxxxxxxx
> > >
> > >
> > >
>
>
>
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