You don't have to mention how much money you make. You can give your performance as a percentage, or at a minimum compare it to a benchmark. Are you outperforming the SPY? Then of course be prepared to be asked for an audited statement.
I'd settle for forum members just telling us how well they're doing for 2023,2022,etc and let us decide whether we think they're lying or not. At least Ross Cameron does it often.Humbled Trader never does it.
Well the way I see it, no one here is actively mentoring. Giving out advice is just a forum discussion and it is up to every individual to decide if they want to take it or not. Maybe different things work for different people - if some people feel giving out statements gives them more credibility - it is fine by me. But I would never post performance stats on some kind of forum in hope that people would take me more seriously. These stats could easily be fake, just saying.
It's hard to tell if this is consistent with the scope of your question ... but here goes. Consistent from day 1. Nothing works all the time, just try to focus on what's working. - money market funds starting early '80's - next into equity funds thru the late '90's - next into funds & ETF's for diversified equity market segments and asset classes in the 2000's - next into equity index options in the teens - next faded long equities with the Fed in '22 - still mixed ETF's and options and near-cash FWIW ... I like discussions about what's driving markets ... couldn't care less about how much people are making ... there are better ways to figure out whether what they're saying is of value.
You were caught in a cycle which is designed to do exactly this, by any chance did you make around 200%pa which triggers every 2yrs a total profit loss (via wrong choices) and total capital loss (via pure mistakes or targeted learning).
Im not sure I fully understand the question, but basically I made a few shekels being lucky my first 2 years as I had no clue what drove markets and no solid strategy. I didnt round trip profits as I withdrew a lot to sustain a lifestyle that was a lot higher than what I was used to bc I was ignorant and figured "I could always make more". 3rd year it all went to shit as I lost confidence in myself and couldnt sustain the lifestyle anymore. Now, I have a better understanding of macroeconomics and a strategy that seems to be working for me, it just sucks that now that I know +/- what do to, I dont have the capital to exercise my newfound knowledge/ confidence.
I like this reply because youre totally right. Seems like every cycle has it's own fuel or popular sectors/ instruments. Do you have any recommendations on where to have good discussions surrounding macroeconomics and strategies? Im new to this forum, and still have mixed feelings about what I could extract from here. Although, it does seem to be more helpful than discord and twitter where its flooded by people who truly dont know whats going on & are simply looking to follow someone elses signals.
The markets go in Tulip Mania cycles, looks like you were caught in a 2yr one, not entirely sure why you are assuming you will not be caught in another shorter or longer cycle, but this is how it goes with everyone. Recovering losses is always easier that generating new profits depending on how much time elapsed between the event and today, once you have access to the trade book you can hook in to the cycles. Unfortunate you don't have an asset to liquidate for $30k which would be needed to seed a recovery account, I've been called in to recover for $100,000s losses, it's incredibly profitable fixing other people's mistakes to get them back to parity.
For me, the biggest "aha" moment is when you realize 90% of the information about trading is simply wrong. There is such an asymmetry between sharing wrong information vs right/profitable information it has to be that way. If something is popular it is wrong and useless because only wrong information is really worth sharing with that small 10% of the time right information slips through the cracks for various reasons. It is also very interesting to be around long enough to see entire new generations discover indicators and TA. The idea something so popular could be useless makes no sense in every other domain.
Technical Analysis is not useless, it struggles with overuse due to being quantifiable and sells a lot of books, yet so few can use it properly it is close to useless for most people, but close to useless is not useless. The problem with public information is that people have such low standards they cannot explain this coherently, it requires people like me being trained by the best to make sure anyone new to the game, and it is just that, has 100% of the picture not a micro view on someone's individual bias because they did not have the skill to be in the top 1% who were able to make that approach succeed.