Guys, If you want to ask Albert a question then either PM him or go to his journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=25992 This is Flashboy's journal so please direct all personal questions to him. Thanks.
Mrwsm, I agree with your figures.. and there's no way I can maintain that type of return.. but when the account is small I believe it is possible for a short period of time.. I can achieve this by averaging 1.5 pts. in the emini sp daily.. Doesn't sound hard.. but when emotions are interfering it becomes much more difficult..
I believe it is possible and wish you good luck. Stick to your rules and system and dont deviate and be very strict with your entry rules and I believe you shall reach it. Then start paying yourself and enjoy you freedom )
Here's an example of how I'd hurt myself in the past.. Had a nice opportunity for a buy at 9:55.. but passed because this time period is very volatile and I've gotten whipsawed an awful lot with my trading style. In the past.. I would be a little angry with myself for missing that profit opportunity and force a trade.. but I'm trying to remain patient and wait for the market to come to me..
Only reason they might be a tiny bit off is because I didn't bother counting exactly how many market open days in the year 2004. I just plugged in the number 255 open days in a year which should be +/- a few days. Therefore the percentage given might have some play of a few percent. Otherwise it would be dead balls accurate. It is possible, I had 2 very hot months this summer in one of my ventures where I averaged 149% per month for 2 months. If I was able to keep that up it would be over 5 million percent in a year and you'd be seeing my face on CNBC. LOL.
Today's Trades: 2 trades.. Gross Profit = $100 Less Commission of $8 per trade.. Net Profit of $84 Beg. Balance $1,082.52 + 84 = $1,166.52 Met goal for the day but it could have been much better.. Bailed on 1 trade a little early and missed a trade late in the day with a limit order.. trades outlined on chart..
Today's Trades 4 trades Gross Profit = $82.50 Net Profit = $50.50 Beg. Balance $1,166.52 + $50.50 = $1,217.02 Good day profitability wise.. Got out of a NQ trade early that would have resulted in a nice profit.. The trade attached was a loss in the YM.. I made 9 pts. in the Euro.. Everything going according to plan so far.. But I have a long way to go.. As long as I stay focused and dettached from the market I think everything will work out.. Merry X-mas to everyone..
Merry Christmas dude... Keep up the good work! Should be interesting to see you progress, and so far, you're doing well.