Knock Knock! I clearly stated that many people aren't native English speakers...you're making wild assumptions and tried to write a discourse lecturing me when your inability to just read all 5 or so of my posts in this thread would have helped you to not feel the need to blather on. My point has never been that knowing proper grammar makes you a good trader. My point is that if you are unable to properly use your native language, and for some their only language, then you're likelyunable to fully understand that language in its usages in company reports, press releases, etc. And if you have such a lack of attention to detail that you can so easily disregard the blaring difference between "your" and "you're" then you're probably not the sharpest tool in the shed. Cheers and read the posts before getting reactionary and writing some whiny diatribe. p.s. If one wanted to assume that you're dumb, they could go off the fact that you wrote a mult-paragraph response without even bothering to read through the entire thread and instead acted off assumptions/emotions rather than facts.
Ok, I'm back from a beautiful bicycle ride along the lake Balaton. Balaton is the biggest Central European lake. It was really funny, eating a lot of sweet water fish, togethet my children and the classmatest. Trading is just a part of my life. Yes, you are right, trading looks like as a business. I run a company, selling high quality industrial products, with 10 co-workers, making 3000k$ turnover per year, 300k profit before tax. I started to be an entrepreneur to become a rich, free, independent person, and I enjoy the way I choose. About the small capital. I have an account(as I said) 50k. You think it is small, but the average yearly loan in my country is 5k. It is about the different point of view, I think. Ok, back to the topic what I'm interested in. If I risked 2% of my capital, what would be the ongoing risk? 3%?, maybe 5%? How many contract should I trade together? I deal a lot of with the money management because I feel(as you) it is the key for the success. Thanks BreakDown
Breakdown, I think you're doing very well. If I were you I'd just keep doing the same successful thing over and over. Here's a different way to look at risk. http://en.wikipedia.org/wiki/Kelly_criterion
If you start with $ 10K and add $ 50K the total is $ 60K. Your current equity is $ 56K. $ 60K - $ 56K = - $ 4K. You show a four thousand dollar loss. <img src=http://www.ironicconsumer.com/videogames/high_impact_paintball_welts_02.jpg \img> You might be more careful.
This is what he said: I started to trade with an equity 10k at 09/21/06. With the deposits and withdrawals I have invested about 50k in my account for the last 10 months. Now I have a total equity 56k. He started with 10K. With all the deposits and withdrawals he invested IN TOTAL 50K ( so included the 10K he started with). He is up 6K.
In answer to the original question, it is not clear from the data you provide what your "status" is... As far as the second question you ask. The answer is that once you have an edge, your "success" can be measured by how well you manage risk... I have said this before but it is probably a good thing for newbies to hear.. "The return for avoiding risk is no loss, but no gain" "The return for successfully managing risk, is periodic loss, and periodic gain" "How successfully you manage risk, determines the magnitude of your losses and gains". Good luck Steve
I have heard about the Kelly criterion, but I did'n go to the details. Maybe it would be worth a shoot. Thanks, Ian BreakDown
Could you be a little bit more specific, because I don't understand what you want to explain? Maybe I'm not so good in English, to understand your toughtst... BreakDown