95% failure rate...

rols said:
On the contrary, successful traders could afford to do it.

I feel uneasy about people posting their trading accounts online.

This IMO may well appeal to dick swingers and saddos who didn't get enough breast milk when they were babies.

In fact most of the truly wealthy and successful people I know are very understated about their money, and posting profits in the public domain would be an anathema to them.
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I think you have got the wrong end of the stick. It's not about boasting about how much money you made or gaining kudos on an online bulletin board. Well, maybe for some people, but I think it's more about, as Lee said, showing who is profitable and who is not, which gives the newbies not only belief that consistency can be achieved but perhaps an understanding of who to lean on for guidance or whose advice to pay careful attention too. Also, it would be invaluable for those that want to follow canned systems or pay money for mentors. If they can come on here and show they are making money in real time, rather than providing a bunch of backtested results or statements from months/years back when they had a winning streak, it would be good advertising and also stop newbies getting burnt when they part with their cash. This idea was always going to attract a lot of controversy because there will be those that like to talk but cannot prove themselves and then, I guess, those that can prove themselves but don't want to divulge it for whatever reason. Well, each to their own. But is it a bad thing that we all have this opportunity? I don't think so...
 
so what other way would you suggest we establish credibility on these mentors.I find the tone of the last few posts that of good talkers and not doers
 
julian said:
Glad to see so many discussing the idea and thanks to Trader D for recommending the post about the trading room(more please). Any potential mentor would really have to not trade while demonstarting in the room as if done while trading it would cause the posts to be delayed and open to malipulation. Also it would be difficult for scalping and tape reading mentors to demonstarte as seconds count,so past posting again would be easy.There are however mentors on here who would have no excuse for not demonstrating in real time. Two weeks is ample time as we would be able to tell the flukes and lucky trades. What we are looking for is mentors who have between 2-20 trades a day. We dont need commentry, just In,out,stop. This should be typed in immediately so as to leave no doubt. Ideally it should be spoken which would be quicker and more accurate. The room could accomodate at least 2 traders at once.No doubt many will try and find flaws and excuses for not doing it,but think how they will look if the room is established and they havent participated. Who would you chose,one who has or one who hasnt.
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What we are looking for is mentors who have between 2-20 trades a day.


Is this a scalping competition?
 
trader_dante said:
What's your problem?
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Ok, let's disregard my reservations about how vigourous this test is (any moron can win by selling OTM options 99% of the time) in proving trading ability and consider the effects it might have on trade2win.

It bestows a meaningless "qualification" upon traders who complete some arbitrary, fairly ill defined task. Rather than helping newbies it has the opposite effect by misleading them into believing the scouts with the most badges are most worthy. And that can only be a fair assumption if there is no opportunity cost attached to doing the test.

Might it not be the case that those who have the least skill are most incentivised to do this test? What have they to lose - they tend to be pretty apparent without a badge ;)

And might it not also be the case that those intending to contribute useful content to t2w are put off by all this hierarchy, to the extent they don't bother contributing at all? After all, if they're not going to be taken seriously... why bother?
 
Yes, you might be right.

Now, where do I find these OTM options?

I need some cash.

P.S Head and shoulders on hourly Eur/Usd. Are we going to 1.2625 if the neckline breaks? I've got the second biggest amount of reputation points on here. See you at the swing low :p
 
trader_dante said:
What's your problem?
Click to expand...

Whilst this question isn't directed at me I would say this. If you checked out that FW Live TRading thread before it buggered off to Traders Lab or wherever they are now you would see how certain members skewed calls and trades in order to make hemselves look good.

Of all the people involved on that live call nonsense none of them ever had a down day. You would see people run 100 points offside, have to make their wifes dinner, forget to put a stop in and wow they held it for 100 points profit. Seriously it was a joke.

Now if you started a thread that pitted people against each other to prove they had the ability to teach trading I am 99.9999% Sure you are going to find a lot of "lucky" people. I prefer live calls in a chat room, calls are time stamped and made as close to the price as possible and the people you are with know if you are legit or not. All this posting on T2W really doesn't work just check the FW thread to see the jokers on there for proof.

The only way I see it working is a posted trading statement at the end of each session to show tha you've taken the trades. I would point out that this is a lot of aggravation to go to in order to prove your worth as a teacher. Surely those who were exteremley succesful wouldn't feel the need to prove themselves to anybody and those that are not as succcesful would manipulate results that would make them seem like the George Soros of the spread betting world.

Just my $0.02 worth
 
Arabian you seem to describe two weeks of live calls as easy.In a live room this is ample time to judge performance. Yes there must be guidelines as you said we can all come up with systems that win 99% of time. Clearly they wouldnt receive the badge.As stated we want 2-20 live calls a day or for swing traders the room could give them longer to perform.As long as the calls are made live accounts would not need to be seen.
 
I have been in a chat where a certain person - not anybody posting here - (who likes making totally absurd statements to demonstrate her alleged prowess that a trade is going to go to 1.6197 and turn - not 1.6195 or 1.6200 but exactly 1.6197 - which is simply ridiculous for any market but even more so for a market like FX where there is no central exchange) made a call saying that she was short cable from XYZ, and that she could have a close stop right above the nearby last swing high.

Alas, nobody has a crystal ball, so the trade goes against here, SEVERAL hundred pips at that, yet she is STILL desperately looking for a reason to justify her initial short position up there, starting to look at different time frames and God knows what else just to find a reason why she was "right" and her short still valid.

LOL !

Then the trade finally turns, even to the point where it becomes profitable, and she banks a few pips, can't remember how many, but nowhere near what she risked.

First of all I don't believe that she stayed in the trade in the first place, but even if she did, this was the worst imaginable woulda-coulda-shoulda bull**** and total lack of discipline I've ever seen, nothing but a desperate attempt to be right and seen to be right by her gullible albeit clueless newbie admirers, rather than a concentration on making money.

I've never been back in that chat since.

I really have no thoughts on the idea here either way, but no matter what you guys do this here is something to think about where real and serious money isn't on the line, people are going to gunsling and pull lunatic stunts that may lead to some short term outragous gains, but that are neither replicable in real life, let alone long term.

it's a 50-50 coin toss: bet the ranch, get lucky for a month, and become resident hero for life. And if you lose the ranch, well hey, it was just play money anyway, and memories are short .

I am neither for nor against the idea here, but that is the very real danger when you don't post a track record of your real life, real money account that feeds and houses you.
 
First of all:

Killphill,

Dont need that childish attitude around here mate, you're only embarrassing yourself by stooping to unecessary insults. If you dont like it, read another thread, theres plenty out there dude.


BSD,

Hi mate,

Those people you describe in your post are easily vetted out and extremely quickly. Any regular trader knows all too well about risk/reward. If a trade goes too far offside only to pay a small amount of money, then its totally crap, a few trades like that and you instantly know as the stops are placed at time of trade, not after and certainly not moved during trade. So, this is easy to work out whether the strat is do'able or not, lucky or pro.



To all,

As stated, its purely volantary and not obligatory.

I really cant understand why a few of you here are getting your knickers in a twist. Sorry guys but if I'm gonna speak my mind I'd say I'm getting a tad suspicious of some of the posters against the idea, with respect but are they the kind of people that withdraw money from there accounts regularly or do they keep topping them up.

Obviously no offence is made by that statement and no one needs to jump on me for it, there are loads of people, in fact most on this forum that keep topping up and rarely, if ever, withdraw money.


The point of the recognition is purely for newbies coming to the site, they know who to listen to (ie, who trades and makes profits), and those who to by-pass (ie, those who talk and do not).

After many months of being here, I know some of the people I would listen to and implement their advice in full, others I would try and tweak the info as it's not that I necessarily have no faith in the system, it's more to the point that I dont have faith in them, and then theres the others (the majority), I wont listen to at all and I certinly wouldn't implement any of their ideas, good or not into my trading day. The reason is obvious, if it works, why dont they use it? if they talk it, why dont they do it?

If live calls cannot be done, understandable, trading comes first, especilly for those that do it as their lively hoods and have no other source of income, but, screenshots are easily achievable and save a hell of a lot of time, it takes seconds to capture and a few seconds more to edit out personal and private details.

But like its been stated: its purely volantary and not obligatory, those who wish to participate can, those who dont, dont. No bother.
 
Lee Shepherd said:
But like its been stated: its purely volantary and not obligatory, those who wish to participate can, those who dont, dont. No bother.
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I'm with you mate. I was in touch with a firm a while back and volunteered to do live trading for them infront of an audience of people. They looked at me like I was on crack and said "we've contacted several big names in terms of gurus in the trading world and none of them will put themselves on the line like that". I was dumbfounded by this. These people teach trading and supposedly make money but just not infront of other people?
 
Morning mates. Everybody up bright and early today haha.

not%20until%20my%20morning%20coffee.jpg
 
trader_dante said:
These people teach trading and supposedly make money but just not infront of other people?
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Thats the biggest joke of them all, those guys out there who couldn't trade their way out of a paper bag making money off of teaching it.
 
trader_dante said:
I'm with you mate. I was in touch with a firm a while back and volunteered to do live trading for them infront of an audience of people. They looked at me like I was on crack and said "we've contacted several big names in terms of gurus in the trading world and none of them will put themselves on the line like that". I was dumbfounded by this. These people teach trading and supposedly make money but just not infront of other people?
Click to expand...

Sad but true.

This is the case throughout the land. Even on here there are loads of people that teach, well in fact, we all do to a certain extent with our posts of wisdom. Still, the fact remains, would you want to take information off someone who talks or someone who walks.

Any newbie coming to the site would get the impression that most on here trade and are profitable, the sad fact of the matter is the exact opposite. If we lay down our gauntlettes and actually ask for help when we need it, we will all start learning what we need to learn to sharpen our skills to make us profitable.

I was reading a post this morning and related it to basic odds, where else do you know in any industry (gambling or not) that gives you starting odds of 50-50. Its from this point on we need to find the slightest of edges to get us over the 50% mark.

The ones to truely teach this are the ones who have not only found it but have been implementing it and making from it.

Trader dante, I'd listen to you any day mate, although more than that, I would actually implement it to the letter without tweaking and changing.

There are a few (select) others that I would also take on board and do the same.
 
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