tag:blogger.com,1999:blog-30128229.post8987845338554044249..comments2023-09-30T07:11:55.493-06:00Comments on MarketFN.com: Do Traders Really Die Broke?Investment Househttp://www.blogger.com/profile/14771320644915759241noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-30128229.post-34894465000628503622008-05-13T11:43:00.000-06:002008-05-13T11:43:00.000-06:00Bashir, the no or low risk strategy to which I ref...Bashir, the no or low risk strategy to which I referred is the collar and adjustments to the collar. I wrote fairly extensively about it in my book, "Trade Your Way to Wealth" which is available at amazon.com. Thanks for writing.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-62241259608500392012008-05-13T10:13:00.000-06:002008-05-13T10:13:00.000-06:00hello, Please tell me how can you make " Big profi...hello,<BR/> <BR/>Please tell me how can you make " Big profits with no risk" you mentioned in this article.<BR/><BR/>Thanks<BR/>BashirAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-62979264740875998772008-05-12T08:22:00.000-06:002008-05-12T08:22:00.000-06:00Anonymous, I rely most heavily on Worden Brothers ...Anonymous, I rely most heavily on Worden Brothers TCNet and their Blocks (Blocks.com) software for my charting service. You can reach them at WordenBrothers.com. I also use a program called OptionVue that is very helpful with my volatility trading. <BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-24442352059583071552008-05-12T08:21:00.000-06:002008-05-12T08:21:00.000-06:00To: Anonymous who wants to know whether I make my ...To: Anonymous who wants to know whether I make my money trading or selling trading materials: I make my money trading. The subscription services bring in a relatively small amount and even though "Trading for a Living" has sold comparatively well, it is not a big moneymaker either.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-91195486014180143732008-05-12T07:26:00.000-06:002008-05-12T07:26:00.000-06:00Thanks, Sam. I agree and know there are ways to "...Thanks, Sam. I agree and know there are ways to "be the casino" rather than "be the gambler" in trading. It's tough to go bankrupt playing collars, for example.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-75675856809395565852008-05-12T05:09:00.000-06:002008-05-12T05:09:00.000-06:00Very interesting article.When you hit a downturn l...Very interesting article.<BR/>When you hit a downturn like, the january 2008 crisis..<BR/>Then you are in deep troubble, if you do trade, without very carefull intensions..<BR/>Here money management is very important.<BR/>To have an exit plan ready, is crucial.<BR/>Thanks for you collum.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-21789975248679570162008-05-11T16:19:00.000-06:002008-05-11T16:19:00.000-06:00I been trading for a few years now with up and dow...I been trading for a few years now with up and down but if you trade with your knowledge rather than with your heart or rummer. You will still coming out ahead. I do my research and pick the stock base on my research. If I trade option, my option return would be minimum 2% a month return. <BR/>I was using The trade Center as my research Software, but now it change to Edu trader software. My question Bill is which software are you using for your research tool and what is the monthly fee for the software you are using? How do I sign up for the Software that you are using?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-15134748058738236612008-05-11T11:48:00.000-06:002008-05-11T11:48:00.000-06:00Another great article. I thinkit should be gambler...Another great article. I thinkit should be gamblers die broke. But the smart ones ended up with casinoes in las vegas.<BR/>I have been trading the past two years and I am now starting to get in sync with my training and get some winners. Thanks and keep smilinbgAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-15833240250221252992008-05-11T11:26:00.000-06:002008-05-11T11:26:00.000-06:00My question Bill is do you make your money trading...My question Bill is do you make your money trading or selling Tading Materials? I gave myself 26 hrs/day 8 days a week to learning and trading and i ended up bankrupt. i read your collum and others like Dr. J. just to see if i've missed anything. I've back tested every strategy ever devised by man and i've even invented several of my own. Nothing and i repeat nothing works, and i have the data and notebooks full of my trials to proove it. I've come to the conclusion that the only ones making the money are the Brokerage Houses who charge the commissions and the Trading Teachers who sell their books, newsletters and financial advice. The conclusion of the matter is this: unless you're on the inside, you're on the outside. The markets are self regulated and the illegal and illmoral activities that take place within them is discusting. Even at my limited low level of playing i have witnessed so much corruption that i liken it to a Las Vegas casino. Even when i do win the house comes after me and seeks to disallow my trading. I cringe and want to scream when i see all the TV commercials and Internet advertizing that phishes for suckers to come into these waters. I went through a class action law suit against one of the biggest shisters in the teaching-to-trade game and we could not get a conviction or a penny of our money back. Old timers lost their pension accounts, thousands lost their life savings and their childrens college funds. I was wiped out. So Bill unless you've got some kind of crystall ball i would recommend you come clean and post your trading results - all your trading results, because everything i've read by you has been regurgitated over and over by all the gurus of trading.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-50233979180821002212008-05-11T11:02:00.000-06:002008-05-11T11:02:00.000-06:00Dear Enron Anonymous, sorry about your experience,...Dear Enron Anonymous, sorry about your experience, but it certainly is an important lesson. Examples like Enron are reasons why I believe it is so critically important to have an exit strategy before ever entering a position. Thanks for writing and wise choice on framing the certificate.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-42842980397168297662008-05-11T10:59:00.000-06:002008-05-11T10:59:00.000-06:00Great point, Anonymous. Trading against market dir...Great point, Anonymous. Trading against market direction can be a path to the poor house.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-83750619736030863462008-05-11T10:57:00.000-06:002008-05-11T10:57:00.000-06:00Anonymous, regarding the Money Show figures, I am ...Anonymous, regarding the Money Show figures, I am very interested in the source of the information. I have little doubt that it is quite likely that new traders frequently do lose all their capital and only a few really make money. The key, as it was for me, I believe, is to do the work first. Study, read, practice, learn money management and risk management FIRST, then trade small amounts. Most, I have seen jump right in expecting to make a fortune and fall flat on their faces. Trading is a skill that needs to be learned and risk appreciated. That is one of the primary reasons I wrote "Trade Your Way to Wealth." Thanks for your comments.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-83813041690097893312008-05-11T10:55:00.000-06:002008-05-11T10:55:00.000-06:00Thanks for writing, Mr. Anonymous Day Trader. In "...Thanks for writing, Mr. Anonymous Day Trader. In "Trade Your Way to Wealth," I have tried to emphasize the importance of basics in trading that includes both money management and risk management. I believe those elements are critical to profitable trading and I would suggest you look carefully at those areas as you re-evaluate.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-59792422610241647342008-05-11T10:53:00.000-06:002008-05-11T10:53:00.000-06:00Thanks for the information regarding the odd lot b...Thanks for the information regarding the odd lot business, Anonymous. Very interesting.<BR/>Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-44048202204731547052008-05-11T08:28:00.000-06:002008-05-11T08:28:00.000-06:00Thanks to my ex-broker and his "Never Sell! It'll ...Thanks to my ex-broker and his "Never Sell! It'll always come back!!" philosophy, I still have my 1000 shares of Enron! After charging me $25 or so they sent me the certificate and I had it framed. It's on my wall as a reminder of what can happen!<BR/><BR/>Bill's comments are very appropriate and I thank him very much for his advice.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-79275639877475896522008-05-11T03:41:00.000-06:002008-05-11T03:41:00.000-06:00As somebody who has traded for 4 years I wish I ha...As somebody who has traded for 4 years I wish I had had the advice of Bill and others in the early days. I am down over this time, but nearly all of that was when I stopped trading and followed a newsletter recommendations - a disaster.<BR/><BR/>But I can say that I have turned the corner and am seeing a series of higher highs and lower lows in my two trading accounts.<BR/><BR/>My advice would be the same as Bills - educate yourself and seek out other traders, but there is no substitute for EXPERIENCE! <BR/><BR/>One final bit of advice, follow the market. If it is in a uptrend go long, if down short. If in doubt, sit on the sidelines in cash (I am mostly in cash at this moment)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-9245350792171152132008-05-10T19:15:00.000-06:002008-05-10T19:15:00.000-06:00Here are the figures from the MONEY SHOW 2008 on n...Here are the figures from the MONEY SHOW 2008 on new TRADERS and the first three years of their trading. 80% of these folks loose 100% of their starting capital;16 5 who work very hard to learn by reading, taking courses, etc etc break even and that great and 4% ax=cutally make money. Making money BTW was not defined a sole source of the families incomeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-23545912394258152612008-05-10T16:55:00.000-06:002008-05-10T16:55:00.000-06:00YOU HAVE TO SELL THEM WHEN EVERY ONE ELSE WANTS TH...YOU HAVE TO SELL THEM WHEN EVERY ONE ELSE WANTS THEM AND BUY WHEN NO ONE WANTS THEM. YOU WILL HAVE SOME GOOD SUCCESS WITH THIS UNLESS YOU BUY TOO SOONAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-73110852056546663952008-05-10T09:44:00.000-06:002008-05-10T09:44:00.000-06:00Very interesting article, I am a day trader after ...Very interesting article, I am a day trader after being laid off from a bank, I understand the risk, but your article points out some interesting facets of trading, is it really gambling? are you taking the profits from a 'big' score and plowing them back into loser trades (yes). I have lost a lot of money but I chalk it up to experience, as they say the learning curve can be expensive but stay the course to be successful, after a terrible day of loses yesterday, I look at your article as a sign that maybe I should reevaluate, as I don't want to die broke...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-29624811218968888812008-05-10T09:33:00.000-06:002008-05-10T09:33:00.000-06:00I STARTED OUT AS AN ODD LOT BROKER THEN BECAME A S...I STARTED OUT AS AN ODD LOT BROKER THEN BECAME A SPECIALIST AND FINALLY A FLOOR TRADER. THE ODD LOT BUSINESS WAS THE BESTAnonymousnoreply@blogger.com