The Red 99 PvP Blog

[karsten]

you gonna finally buy that house with central air that you've been dreaming of?

[Herb9]

Originally Posted by karsten [You must be logged in to view images. Log in or Register.]

you gonna finally buy that house with central air that you've been dreaming of?

I got haters for days, it's just grand. Every click and bump adds up, so thank you for wishing for me to have a poor life because you can't beat me in a game.

http://red99graveyard.blogspot.com/

Already told you earlier. "If you think you can't compete w the poopsocking now wait till I retire, I'm gonna put my wealth into direct sensory input devices and plug myself in, giving commands to duelist/backstab you to death WITH MY THOUGHTS BITCHES!"

[Smedy]

No body can beat 8000 btu's and moms homemade potatoes brah

[karsten]

i'm currently scratching my head how anyone can do anything in this world to beat a living situation that involves 8000BTUs

[GrobbGangsta]

First of all, nothing I posted indicated that I was "rooting for your demise." You read that into it, which implies you are clearly insecure about your position. I simply presented very basic facts/truths about day trading while also noting that the currently volatile market gives you great arbitrage opportunity.

Second, littering a post with a financial lingo that you think I don't understand does not change the fact that day trading amounts to little more than slightly informed gambling. Just because you haven't had a red year since '07 does not mean that you are killing it, especially if your best take in that time is 6k in ten days.

Third, if you have enough capital to invest in real estate, you should do that and just enjoy the less risky cash flows.

Your argument that your position as "day trader who has beaten the system" is secure is completely untenable.

I was simply trying to point that out and perhaps offer some advice. I respect people who invest money, profit off investments, understand the tax system, take advantage of the tax system, etc. The entire world runs on leverage.

[Herb9]

Originally Posted by GrobbGangsta [You must be logged in to view images. Log in or Register.]

First of all, nothing I posted indicated that I was "rooting for your demise."

Originally Posted by GrobbGangsta [You must be logged in to view images. Log in or Register.]

The problem is he is making the same wrong mistakes/assumptions that all "retail" investors (day traders) make:

OJ's "system" has a shelf life of months or maybe a year before it breaks down because he does not have access to any inside information. Semi-efficient capital markets work/are legal because some integration of inside information with institutional investments is still permitted by SEC regs.

2. When OJ's system breaks down (and it will), he will not have any exit opportunities. The only thing his skill set as a day trader translates to is being an institutional investor. PE funds and hedge funds are not going to hire some guy who has "failed day trader" on his resume. There is no pedigree.

Massive hating on an operation you know next to nothing about. Explain again how I'm reading into an abundantly clear implication touched on repeatedly throughout your post?

I have plenty of room for more haters, fans are fans, as long as you're paying attention.

[GrobbGangsta]

Actively rooting for your demise and pointing out the inherent weakness(es) of day trading are two different things. Nobody has ever created a model that beats the system, and nobody ever will. Back when people thought this was possible (late 80's early 90s) there was a massive push on the street to hire quants from MIT who could develop such a model. Tons of money was invested. It never happened. The only way to consistently beat the market is to have legal inside information.

[Herb9]

Originally Posted by GrobbGangsta [You must be logged in to view images. Log in or Register.]

Actively rooting for your demise and pointing out the inherent weakness(es) of day trading are two different things. Nobody has ever created a model that beats the system, and nobody ever will. Back when people thought this was possible (late 80's early 90s) there was a massive push on the street to hire quants from MIT who could develop such a model. Tons of money was invested. It never happened. The only way to consistently beat the market is to have legal inside information.

I belong to a whole private community of daytraders who keep logs and screens of every trade posted to private forums, there are about 60 of us in this particular forum, and of the 60 I'd say at least half trade as reliably as I have been, for much longer than I have.

Every one of us constantly evolves our process, and the groupthink we've employed to solve problems going forward has been very successful. This group is international but I'm also part of a local investment group which has 2 other day traders I am in contact with almost daily.

I really think you are just coming from a whole different school of thought on this, perhaps much more fundamental, perhaps more long term with your investing, the way you talk I don't think you've done the research I have, on making a living by scalping.
Minimizing loss and maximizing gain is the name of the game for most of us, no trades ever lose more than 2% of the account, and all successful trades are allowed to ride with trailing stops.

I'm sorry you don't believe this can work but it has, for many. It's more about the discipline than the system, if you aren't chasing, and don't trade emotionally, it can be done, but 90% fail at the discipline.

[HippoNipple]

Originally Posted by Herb9 [You must be logged in to view images. Log in or Register.]

Massive hating on an operation you know next to nothing about. Explain again how I'm reading into an abundantly clear implication touched on repeatedly throughout your post?

I have plenty of room for more haters, fans are fans, as long as you're paying attention.

Herb you are living in your own world. You are obnoxious and people enjoy making fun of you. This one guy was actually trying to look out for you but what he doesn't realize is that you are just a punk kid making up stuff to sound cool to your internet buddies. You got caught up in your lies about the taxes and are running on an account with $16k. Yes if you are a futures trader you can count a portion of your trades as long term gains but not the whole thing. Most likely you don't see the difference and don't understand it because you don't make enough to be in the 25% tax bracket. Turbo tax probably doesn't go through the trouble of laying it out for you and helping you understand it. I wasn't going to fight with you on it until you decided to be a dick to the only guy not calling you out.

You should stick with bragging about your accomplishments on this video game. Good job on keeping a diary on your online adventures.

[Herb9]

Originally Posted by HippoNipple [You must be logged in to view images. Log in or Register.]

Herb you are living in your own world. You are obnoxious and people enjoy making fun of you. This one guy was actually trying to look out for you but what he doesn't realize is that you are just a punk kid making up stuff to sound cool to your internet buddies. You got caught up in your lies about the taxes and are running on an account with $16k. Yes if you are a futures trader you can count a portion of your trades as long term gains but not the whole thing. Most likely you don't see the difference and don't understand it because you don't make enough to be in the 25% tax bracket. Turbo tax probably doesn't go through the trouble of laying it out for you and helping you understand it. I wasn't going to fight with you on it until you decided to be a dick to the only guy not calling you out.

You should stick with bragging about your accomplishments on this video game. Good job on keeping a diary on your online adventures.

Thanks for completely back tracking on all your ridiculous tax claims.

Do you really think I'd seek help for anything involving my career on a message board? Is that something you do? I'd never, I know my peer groups and how to keep them separate.

Thanks for the hate and the attention and the bumps, but you offer nothing interesting other than desperation to hate on me.