If you think I am here just to get into with others then you should click on page 1 of this thread and start reading. I've just asked some simple questions and you've acted all mysterious about them. Why is it so hard for you to answer simple questions? Explain one of them. Hell...just name one of them. You don't even have to explain it. The first place, Kershner Trading Group, I was at I traded their money and got a split. My split was 70% when I left and I had 30 million to trade with and could get more if I need more buying power. I left there after I got tired of dealing with dysfunctional management. I trade with Great Point Capital now. I put 100k in my acct to start. I've got like 640k in my account now and I've got like 20 million in buying power. I started trading here a day before the flash crash. I've also taken a lot of time off trading this year. Overall, I'm pretty pleased with my first 12+ months trading here even though I couldn't make anywhere near what I would have at my old office on the flash crash day. Oh well... Also, I wouldn't ever go to a hedge fund. Why would I do that when I can trade when I want to and how I want to already? Oh I found my stuff I posted in this thread from a few years ago...when you were just starting to trade for real. http://bbs.clutchfans.net/showthread.php?t=149250&page=63 Yup...totally just a side job to spend my unemployment check on. Your stock portfolio game in junior high doesn't count as trading. Were you filing quarterly tax returns as a 13 year old trader? BTW the 15th is coming up some make sure to get your quarterly estimated payment and filing in. Anyhow, I'm not the best trader in the world, but I've done alright with this game. I've seen a lot of people come and go. I've seen people try to fake it to make themselves sound better and when I see it I don't like it. Just give up the superior act and quit trying to say you have been trading since you were 13. It's painfully clear you weren't.
ACTUAL STOCK TALK And for you guys who I might have recommended NLY or AGNC or any mortgage reits. I would exit those investments now. The SEC is investigating them and trying to evaluate whether or not to force those companies to use less leverage. Less leverage means lower earnings which means lower dividend payouts. They are highly levered and it would make sense for the SEC to implement some limits or at least give some guidance. In summary, too much risk to the earnings and these stocks are loaded with complacent yield hungry investors = big downside risk potential. I will be looking for some sort of options strategy to take advantage of a potential move down. The SEC looking into things may amount to nothing, but it is just too much risk.
man, and i almost felt bad about my comment yesterday. well it's a thread called "let's talk stocks and investing." why would you be here if you didn't? because trading is difficult but usually simple. retracement, support/resistance, pivots, etc. i wish the government had been giving me robbie's unemployment checks back in '09. i can. hell, i helped jump start the car of a guy who made $1.4M in about 5 minutes one day. and back to my original point. john paulson and the rest of the hedge fund industry aren't reading this thread poised to steal your idea and move the market ahead of you. it's just a basketball internet message board. what a shame it would be if one of the unworthy copied the idea and made some money on it.
thisthreadjustgotgood.jpg Just to chime in a bit, I can attest that Robbie is a good trader with performance to back it. I have a friend who used to work at Kershner when robbie was there (of which I will keep confidential). I am a very amateur individual trader myself but I think I stated something similar to what's going on way back at the beginnings of this thread many years ago. CXbby, don't know to appreciate or not what you're trying to do here but even to me then, it was clear that the advice was a little too empty to follow. I feel bad for people who might have bought and sold on the sparsely detailed predictions yet bloated results (though it is every investor's individual responsibility to know exactly what they're getting into - can we say mortgage crisis!). anyways happy trading everyone
"What I'm trying to do here"? To troll and incite proven and insightful market gurus, of course. Why would you appreciate that? Looks like my work here is done.
A little knowledge is a very dangerous thing, right? I know you're trying to give advice... but even by my novice trading ability, I can't feel it's sound enough to follow. It's kind of like the ambiguous articles on seeking alpha or motley fool that are very surface level reads - are they really trying to help someone or they just have their own agenda? I don't know, I can't tell, so I won't listen - and I don't think others should either when it comes to something important as investments.
I love this thread, this argument, and everything about it. Why? Because I help to run a stock market analysis newsletter, that's why. My partner writes the analysis, and you can only get tidbits at our facebook page without subscribing to the actual newsletter, but if any of you who do this for a living or very regularly would like to check us out, I'd be most grateful. Link in my sig.
What a terrible jobs report. I think we are going to have lanother 5 or 10% down day one of these days.
Got a question for you guys. What's it like working for a trading firm and what kind of requirements goes into it? Bachelor's degree? Math Major? Your own capital? Your gains and losses? Do you walk into an office every morning, grab a cup of coffee, sit down and look at 3 or 4 monitors and run? What's a successful return in a trading firm?
It's good if you are making money. It sucks if you aren't. Requirements are a pulse and money if you are going to a proprietary trading place. I think you have to be licensed at most places. That involves a series 7. Well if they are a CBSX broker dealer then you don't have to be licensed. My old firm Kershner Trading Group is a CBSX broker dealer and you don't even need money to trade there. They were just hiring anyone with a pulse for awhile there.:grin: I have a degree in history from UT. I started off in engineering but got burned out in my 5th semester. Switched to history and tried to minor in French, but ended up minoring in govt. When I first started my whole life revolved around figuring out the market. Now I am much more laid back, so I leave the house around 8:10 and get my Starbucks. Then I head to the office and get there around 8:25. It nice living 5 min from work. A successful return is the ability to live off of trading after taxes and do it in a low stress fashion. If you can achieve this then trading can be very nice and you make your own hours. If you aren't making money then it can be very stressful and hard to make ends meet. It's a mental and emtional game as much as it is a game of knowledge and experience. When you are down it can be hard to get up off the floor and get things going in a positive direction. Trading is extremely hard and I recommend it to no one.
At KTG I started off with 50k and 100 share position limit. Prior to that I had a very small account I traded on my own thru Scottrade. I did a lot of paper trading and put on some trades with that small Scottrade account. I ended up losing that 500 bucks I put in there but I learned a lot over the year prior to getting hired at KTG. The thing with trading is you have to learn a lot of it on your own and thru your own experience. You can learn some from books, but there aren't really than many books that are applicable to short term day trading. Further, you can't really know how you will react until you get in there and start trading. Some people have really great ideas, but when stuff starts moving around quickly then some people get really gun shy. Some people get out of control and blow up when things go wrong. You have to have knowledge of yourself and figure out what works best for you with trading. It's a hard game.
Uh oh. Europe got punched in the mouth and futures are down big here. I really hope this isnt the beginning of the 2nd leg down in this selloff.
don't know much about trading but i think cxbby is a smart guy. one thing i noticed he joinged this site at 18 i guess in 02 and really didn't do much until the last couple of years. when i joined this site at 27 i was pretty arrogant (still am) but i've tried to tone down how i communicate even with those i disagree with. i feel bad because i jump on people for not being civil and i remember how i was when first joining. anyway, it isn't civility or lack thereof, its just arrogance, which even though i don't trade i didn't see that when he first came to give advise. just when he was challenged and oh yeah, when talking arron brooks daryl morey and kyle lowry
for that matter its interesting to see how posters have grown over the years. i remember when robbie was an engineering student still at ut. he used to be fisty conservative poster, now he just talks making money. which is cool
Hi everybody! I want to start investing. I have about $15k saved up and I believe it is the right time for me to invest some or all of that money. So are there any investing or stock market tip for begginers that you guys can share with me? I know there are personal investment broker/websites out there like etrade. Are these websites a good place to start and if so which one is the best? I also know that I can join a credit union or a bank and let them invest my money. I can also employ a personal investor. Which is the best option considering I am looking at long term investments. Idealy I would like to make about 4%-8% return for my money.
That is about right. Just to be clear, I am fine with giving advice and teaching people how to trade, more than fine. However, when a guy like robbie comes in here, who just a few days prior to this whole "1230" business was basically telling me I know nothing, why should I explain myself? I figure once we top out less than 1 point above where I'm in from, and come in 90 points less than 3 days later, it will hit home and Mr. Bigshot can start figuring things out himself. I got where we will bottom too, but maybe he can fill us in on that instead, after he's learned a thing or two. I told him I sell tops, is that douchey and arrogant? Probably. Am I a liar? Obviously not.
