Home > The Business of Trading > Professional Trading > Becoming Gordon Gekko

Becoming Gordon Gekko

  1. First of all, don't read too much into this thread title. To me, Gordon Gekko just symbolizes a successful man of the markets.

    I've been thinking lately about how I am going to come back from my devastation and I have a plan. I looked up how much my 100% paid for car sells for used and some go for $18-20k with 3x the mileage mine has. Mine also has basically every option there is and it is in excellent condition. Let's just say I get $16,000 for it. I do not WANT to sell this car at all, but I'm realizing that it is a way out for me. To someone who is not me, if I tell them I'm a trader with no money looking for money, and I say I have a new car paid for, the obvious response from them is going to be to sell the car. It's just going to take a little while for me to accept it as the reality. But, I'm already really starting to..

    Although it can obviously take people any amount of time to become a good trader, I've read a bunch of times that 5 years is a good estimate. Well, next year will be my 5th year. I can also honestly say that I have the most confidence in my ability that I have ever had since I started. I no longer feel completely clueless as to what I am supposed to do. Sure, there is room for improvement, and I will improve, but I KNOW I am heading down the right track. I don't care if people don't believe me.

    My plan is to keep my car for the rest of the summer while the weather is nice and girls are out of school. I'll sell it in August/September. Plus, it's not like I need the money tomorrow, so a few months isn't a big deal. In the meantime, I will watch the markets every day and work on my trading. When I sell the car in the fall, I'm also going to get a part-time job during the afternoon/night. I may even just trade the mornings, so I should definitely be able to trade and work at the same time.

    I still have like $2k in my IB account. With all my bills paid off, after I sell my car, I should have about $17k to trade with. If I'm smart, I could really be off to the races at that point. I know some ET people think I'm clueless because I bitch here a lot, but my real problem has been living off and trying to grow a tiny account. I was also desperate and risking WAY too much per trade. dbphoenix, and others: 0% chance I'm quitting, so don't waste your time responding to this suggesting that I quit and do something else.

    Although I know this is too early to get into too much, I'm also thinking a few years down the road. Say 2 years from now, I'm profitable. Would it be wise to get into prop trading? If I were to start doing good with my own money, maybe I won't even need to go prop, but if I start to really get the hang of it, I'm thinking prop may not be a bad idea. Ideally, I would be 27 at the time with 7 years trading experience. What kind of record would I need? What are the positives and negatives of prop trading?

    thx
     
  2. Hopefully you will not take this the wrong way, as it is only meant to help you.

    You are 25 years old, you have blown through your money, you have no job, and you want to sell your car to get more money to continue trading - something that you have yet to be successful at. You are like a crack addict, trying to figure out where your next hit will come from. You REALLY need to back away and look at yourself, and your life.

    My suggestion: GET A JOB, and work for a while. Why are you so opposed to that? Get a job, put some money in the bank. You can still PAPER TRADE every day - which is what you should be doing anyway. Print charts, and analyze bar by bar - by covering up all the bars to the right (hard right edge - you cannot really think you are good by looking at an entire chart and saying "I would have caught that move" - cover the chart up and analyze bar-by-bar). Do this for the next 12 - 18 months.

    GG - think how good you could be if you just forced yourself to do this. Not only would you become more proficient at trading, you would instill DISCIPLINE into yourself. And, by working at a JOB, you would take responsibility and show a great deal of maturity.

    Damn - you could do this for three years, and start trading with real money when you are 28-29, and be well on your way by the time you are 30. You would be so far ahead of the game, it would be ridiculous.

    THINK. And, GET A JOB. And work on every aspect of YOU - not just your trading. If you do that, in 5-7 years you will have every thing you ever want, and you will look back at these times and laugh.

    And, hopefully you will look me up and cut me in on the profits for steering you in the right direction!!!



    :D :eek:
     
  3. Gordon, you should print this post (above) and put it on your wall and read it every day.

    It is obvious trading is your passion. That is good, and is a big part of being successful. Guess what? You don't have to abandon your passion if you get a real job. You can still study and live it every day, and when you start trading again real-time you will be so much better off.

    I fear you are on the road to disaster. You need to take some time off of real-time trading and you will be that much better when you come back.

    Keep your car. Get a job.
     

  4. excellent advise......SELL THE CAR already, its been a 1 year since youve been suggesting that......downsize, reorganize, get a job, get ur head out of the market for a while and live la vida loca......Whatever you do, Good Luck....peace
     

  5. BALLS TO THE WALL GG!!

    YEEEEEEEEEEEHA!


    :D
     
  6. guys,

    thanks for the advice. i just want to say a couple things.

    my plan IS to get a job. i did say that in my first post. i'm just ALSO going to sell the car. i don't need a $16k+ car right now. the money could be used in better ways. i can trade the mornings til noon EST and then go to work in the afternoon.

    also, people think WAY too negatively of my trading. i didn't really blow through it all. i am still up since the day i opened my very first trading account. the problem was, after paying taxes, living off the account, buying a car, and experimenting with trading ideas, i eventually grinded it down to the point where my account is just too small and i risk too much per trade.

    p.s. maggandre, thx for the reply. i didn't take it the wrong way.

    kernan, no, i am not headed on the road to disaster! lol I FEEL GREAT ABOUT MY FUTURE, EVEN AT THIS SHITTY POINT I'M AT.
     
  7. I suspect that this analogy won't do a lot of good, but try substituting "going to the track" or the casino for "trading" in your post, and see what advice you would give yourself. Yes, there are pros who do those things and make a good living, but if someone told you that they were "on the verge" of making it as a handicapper or professional card player, they had gone broke playing (more than once), but just needed one more shot, and were selling their car to go back to the casino, I suspect (hope) you would tell them that it is a bad idea. It's exactly the same thing. My intention here is not to equate horse racing and trading, as they are certainly not equivalent, but they do share a cadre of people who are addicted to the excitement and notion of making big, easy, quick money. What you are doing is not trading, at least not in a professional manner, that will allow you to continue. Real trading is hard work, harder than the jobs you don't want. It is boring and disciplined. It generally doesn't pay nearly as well as you seem to think. If you took your 17K and had a 35% return annually for five years, this would make you one of the most sucessful traders in the world. You would then have about 80K, assuming that you hadn't withdrawn anything. Real-world traders don't take 17K and run it up to a million in 5 years (or 10). Has it been done? Yes, and so has pole-vaulting 20 feet, but not often. One thing I had to do as a trader, working on the floor, was get rid of the notion that I was going to be the best trader there, my history dictated otherwise. Even though I got to stand next to people like Tom Baldwin and Chip Kenyon in the pit (actually, I was a few steps down, I'm a long way from top-step), I will never be able to do what they do. I have several suggestions, for whatever they are worth. First, find some real traders, who are making a living trading, and talk to them about what they actually do, how they do it, and how much money they really make. Second, I would really urge you to look at why you are trading. Frankly, you seem to have no passion for it. You seem very passionate about the lifestyle a lot of money would buy, and talk about the house and parties that you are missing out on, but not a lot about a passion for the trading itself. Most of the really good traders I know would trade for 10% of what they make, because they love the game. Richard Dennis was driving an old beater Toyota and living in a small apartment when he was worth 100 million, because that wasn't why he traded. If you are trading with a big income in mind, on scared money, it is just not going to work, it never has, and you aren't the first to try. The last probably unwelcome advice I would give is the same as everyone else is offering. Go get a job, keep your car, and take some of the pressure off of yourself. Remember, if it takes, as you said, an average of 5 years to become a good trader, that means that it might take some people a year, and some 10. I started trading in 1985, and finally was able to make a decent living at it 13 years (and several accounts) later. In the meantime, I had jobs (not all fun), I got married, I had a car, I bought a house, and I lived my life. Relax a little.
    Jessie
     
  8. Although I could have many questions for you...I hope you have considered these 2.

    what do you do well/poorly? do you know how to adjust to it?

    what new strategies have you learned to use to take high probability trades?
     
  9. since you took the time to reply to me, i really do want to take the time to answer your questions. however, when it comes to how i actually trade, i am not going to post that here. if i did explain exactly what i do and what i'm working on, i'm pretty sure it would blow most people away. i am not at all saying i'm the best or anything; i know there are some very, very, sophisticated traders here on ET who are much more advanced than me. i'm just saying that i am not some newb and i know that i am well on my way.

    p.s. today is going to be an up day for ES. (at least til the fomc announcement)
     
  10. Excellent advice. I would add to this, sit down and make a ten year plan. I heard once someone said people often severely over estimate what they can do in a year, and under estimate what they can do in ten.

    Get a job. Work on your trading every day. Make a ten year plan. At 35, you could be THE MAN!
     
  11. i AM going to be THE MAN! i AM THE MAN now!!
     
  12. for the record, my call was just for fun. i am NOT someone who is all about predicting.
     
  13. Dude, if you ain't selling your own blood to generate money for trading, you are not serious about the game.
     
  14. You should feel great about your future - you are only 25!!! You have all the time in the world to become great at whatever you want to do.

    Let me ask a question - what did you hope to get from this thread and your original post? It seems odd to me, as you have self-confidence and seem to have made up your mind already. What was the point?

    Just curious...but, make no mistake - no matter what you do I wish you good luck.
     
  15. Ditch the pom-poms and skirt.
     
  16. Gordon Gekko,

    Is someone mentoring (helping you) now with your trading?

    If not...why not?

    I think the above questions have been asked before and have gone unanswered by you.

    If you've have answered before...sorry...I missed the post.

    My point is this...accordingly to my research of traders in the Boston or New England area...

    same area I believe your located in...

    there are some traders that have posted in the Hook Up forum.

    Some of them come across in their past posts as being successful traders or at least knowing what the heck they are talking about.

    Therefore...I'll ask you this question again as I have so many other times and have not gotten an answer...

    are you going to hook up with any of those traders to help with your trading problems?

    If not...why not?

    P.S. Free realtime mentoring from one of your successful locals...

    is there anything else better than that?

    NihabaAshi
     

  17. Gordon has serious issues with authority figures and or pride. He won't listen to anyone, and won't really reach out for help.
     
  18. 5 years of survival means that you are just at the point of actually being useful to someone.

    Go work somewhere: member firms, exchanges, hedge fund lackey. You have enough background to now get hired.

    The CME recently went public and they are continuing to re-org their management and internal organization .... Might be a slot for you there .....
     
  19. What make, model, year car is it, Gordon?
     
  20. NihabaAshi,

    thx for replying, but i'm not really looking for too much help. yes, i will still have questions sometimes, but i'm not looking for a whole new style or anything. there are only a few individuals on ET that i identify with, am confident in their ability, and trust. i'm not going to name names. sure, i could always learn more, but i know i am really starting to get the hang of it. there are a few things i have been working on the last few months and i am very happy with what i am doing.
     
  21. Gordon, after you sell your car...spend some of it by visiting a physician and making sure you don't have ADD or ADHD. Your post rate of 3.66 per-day and complete focus on trading are symptoms. Are there things you know that need to be done but you can't seem to get around to doing them? Like keeping a trading journal up to date....
     
  22. I was wondering about this also, GG.
     
  23. yes, i've seen the movie. i know Gordon Gekko wasn't a real trader. that is not why i chose the name. as viewed by other people (that did not know what he really did), he was viewed as someone who understood the markets and knew how to make money with them. that is why i chose the name.

    you say day trading is a sure way to the poor house, but i definitely do not believe that is true for everyone. for most of the population, definitely! but not if you're smart and keep at it.

    just yesterday, this girl i know came over. she knows i'm interested in the markets, but that is pretty much it. i never talk about my trading to people i know. anyway, my computer was on and she asked me what i do with it. i was like, "do you seriously want to know?" without getting deep into it at all, i just showed her some basic things. i realized she didn't understand any of it at all. it was then i really saw how far i've come. i deal with the markets every day, so i'm used to them, but when i think about what most people know, i have come so far. i can EASILY see why most people do not make it. but it definitely does not mean you can't do it if you try hard.
     
  24. What was it that she didn't understand? The mechanics of the market (i.e. what ES is, what a chart is, what indicators are) or how to make money in the market?
     
  25. ???
     
  26. If you really want to trade, there are plenty of people out there in your situation who have been where you are and have solved the problem. Some have gotten real jobs for a while, and been able to quickly get the house, the cars, the family, etc. Others have found the people (and that may be up to you if you choose) who have moved through this while staying very close to trading and gaining experience. Its a question of your values. If you really love trading, find a way to keep improving while you maintain some standard of living. I started years ago with my own money, blew that account out. (I can hear the jeers now, insert middle finger smiley here).


    I then got a job as an engineer designing auto parts, at night. I traded what was left of my account during the day. When my night company decided it was shipping out to mexico, I had nothing to do at night, was still getting paid, and ran systems tests all night long at the office, while I still got up and traded during the day. I credit NAFTA with a lot of my 'breaks' in trading. I have to admit it took the pressure off, and I traded very well. Still though, at some point not getting sleep catches up with you. By some happenstance, a guy I leased equipment to knew I traded and trained me in his specialty or system (and yes, his capital), and I got to give up the night job and work full time again trading professionally. All of that began 5 years ago, I am still trading but reaching another turning point....changing firms. I would have been ecstatic 5 years ago to be faced with the challenges I have today, my path was to find a way to keep improving my trading, and thats still my plan regardless of how much money I make or do not make at this skill. I love trading, it is a skill, and skills are learned. I also believe regardless of how much money you make, if that is your focus, and you take your eye off the ball, you can easily give it all back. I don't think that advice is ever inappropriate, regardless of your years of experience.

    Good luck.
     
  27. point of this thread?

    well, not too long ago, i made a thread about my devastation. so i wanted to announce that i'm launching a comeback and tell how i'm going to do it. also, i had a few questions about prop trading at the very end of my first post.
     
  28. See the thread entitled:

    "closing my trading account today"

    at

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=18643

    where GG says:

    ". . . i know a couple months ago i started a similar thread . . ."

    What'd that old geezer say? "There's nothing new in the markets" or something?

    Not making any judgements, just pointing out how this has happened before.
     
  29. oh, you sure nailed me...

    when i started the one a long time ago, it was because i knew my destruction was coming. lol

    but then i was unexpectedly able to sell something, so i had a few more dollars to play with (but still not much at all) and could delay the inevitable destruction.

    it has also been the last few months that my trading has improved RAPIDLY. i actually feel like i have some methods i am confident in now. when i come back with at least $10k, i think i will do OK.
     
  30. Thanks for the answer.

    This is what I'm walking away with from your reply in comparison to your prior posts.

    1. Your unsuccessful at trading.

    2. Your unwilling to look up local successful traders in your area that have already posted in the Hook Up thread...

    ignoring a possibility you may meet someone with a similar trading style as yours.

    GG Every single trader I have ever met that dwindle their trading accounts down to the minimum...

    while not having the ability to grow their account nor manage their financial lifestlye...

    to see them say what you say...

    i know i am really starting to get the hang of it

    All sounded like addicts or alcholics saying I have things under control...I don't need help...things will get better.

    Re-read what you said to me in your last post...

    Simply, you rationalized why you don't need any free mentoring from a successful trader in your neighborhood that has posted they want to meet other trades and share trading ideas.

    Geesh...this is scary or one big joke.

    Here's a very good link for anybody reading this post...

    http://www.elitetrader.com/vb/member2.php?s=&action=addlist&userlist=ignore&userid=8519

    P.S. The prior two posts exchange between TGregg and GordonGekko is the main reason what prompt my above link.

    NihabaAshi
     

  31. Too funny.... IF your only trading "plan" (?) is to "sell your car" after you pick up some "girls"!

    And to think one can run for Representative at age 25... and make law that governs others!

    No offense, but man you must need lots of attention!

    Ice
    :cool:
     
  32. Hmmm, GG - Did you miss my question?
     
  33. NihabaAshi,

    like anyone really cares what your reasons are for being a dick (sneaky GG ignore list link). whatever, dude.

    i'm done with this thread for today. i've seen about as much overanalyzing and incorrect assumptions of me that i can take for 1 day..

    P.S. NEW DAY HIGH COMING FOR ES!
     
  34. GG -

    I don't want to sound like a dealer trying to feed a crack habit, but if you need cash for a paid-off car and want to keep driving it you can get what's known as an auto title loan.

    Give 'em your pink, they'll give you a loan, usually on th spot.

    Just check out any companies with the BBB, state DMV etc as due diligence. You don't want them going tits up on you with your pink slip.
     
  35. go GG!!!

    my advice.... sell your car. Live very simply. Get a part time job that pays you your living expenses plus an ammount you can afford to lose in the market every month.

    Once you lose the affordable ammount... stop trading, and papertrade, until the next month.

    don't listen to,or argue with jerks. If that means putting me on ignore. do it!

    Spend all your time productively! and i'm sure you will succeed.

    best wishes!

    ps... it took me 3 years to stop trying to be smart... to stop looking for the exact top and exact bottoms, to stop drawing stupid lines on a chart thinking i can find the exact point the market will turn. I probably analyzed the tops and bottoms more than anyone else ever has. Even though it was a waste of time, there was a lesson learned. good luck Gordon Gecko.
     
  36. The only dick around here is you. I am sure you have a little one, therefore you feel the need to act like a big one.

    You are an immature little crybaby, who starts a thread soliciting people's input and then acts like a little pussy. THAT is why you don't succeed at trading.

    If it sounds like I am mad, I am. I am mad at myself for taking the time to write down thoughts and advice that I hoped would be helpful. Sadly, the person who suffers the most is the next guy asking for advice, and the people who will not waste their time giving it because of experiences with you.
     
  37. You can get a loan on the car from any bank or credit union, interest rates are so good right now too. I have done it, thinking of doing it right now. You would probably take a bigger hit on license and transfer fees and hassle time selling the car and getting another one, assuming you need to get another one, than the interest.

    I lost my license once and I got by on a bus pass and a ten speed for a couple of years, it was not all that bad. I was surprised to find that I still had a life, met women, took them places, even on the bus.

    Max
     
  38. I think it is obvious that GG started this thread to get "cheerleading" from those who would encourage him to sell his car and pursue his dreams at all costs. GG did not care about the advice offered that would allow him to continue pursuing his dream, but do it from a rational perspective that would more likely lead to long-term success.

    GG is looking for "enablers". Use a drug analogy, use a gambling analogy, whatever. It would be nice if he writes down the names of those enablers and in the future communicates with them via PM, so as not to waste everyone else's time. But, I doubt that will happen.

    In fact, I predict many GG threads in the future, going back and forth between "I blew out my money again", to "I know how to be successful now", to "Where can I sell a kidney for trading $$$".

    And, the enablers will be there to help him every step of the way. But, in 10 years, he will look back and wonder to himself..."what happened?".
     
  39. But really, how do you feel about GG?


    :D
     
  40. Gordon,

    I think you have some very large pride issues. You will continue to fight the market until you win (which won't happen the way you're handling it).

    You start threads that are not looking for real advice but sugar-coated responses that you want to hear.

    Then, you block out everything you don't want to hear and go with all the stuff you do want to hear.

    I'm not trying to be a jerk. I think you need to learn some modesty.

    You've got a lot of people reaching out to you to give you good solid advice that will help you in the future and you seem to just totally disregard that advice in pursuit of your own agenda.

    In a sentence, you are too stubborn to be a good trader.
     
  41. $100 bid your car (GTC)

    Fill the paper!
    :D
     
  42. Gordon Gekko,

    Good luck on following your dreams and succeeding.
    Trading for a living is a difficult journey with many setbacks.

    Make sure you keep a journal of your trades
    and let us know how you are doing later on.
     

  43. Nope...

    when he does NOT feel a need to let others know anything... then he may approach profitability... (and maturity)!

    Ice
    :cool:
     

  44. Stepping in front on ARCA Bid 100.0011111111
     
  45. The most recent of these threads was closed just under two weeks ago, and now you guys are getting sucked into another one?

    Incredible.
     
  46. Selling your car to fund your account is not a bad idea. You can certainly get a car for $2000, heck I got a car for $1300, a Chevrolet Beretta 88, looked pretty cool in my ghetto paradise (LOL) . Be sure to put a stop on how much you are willing to lose this time, say half of the 16k you gonna get for your car and keep the rest for retirement savings. As for those who tell you to stop trading because you don't have the money. It's easy to say when you are 40 with a stash of cash and a long work experience to fall back on. Some people decided they wanted to trade at 20, not at 30+ after a career in the corporate world.
     
  47. f off
     
  48. Sell you car, give me the money and I will guarantee a 100% return in one year, of which I will take 20.

    Go and get a job and leave the trading to the pros for a while, and at the end of the year, if you save up, you will have $25K and be back in the saddle.

    nitro
     
  49. Yeah. Until he blows it all again because he is an immature, undisciplined "pseudo-trader". $25K probably would not last him a year. Just reading his responses on this and his other "prediction" thread, it is obvious why he is not successful.

    Gordon, do what Nitro suggests, except leave the money with him for three years. Use that time to grow up.
     
  50. Hey, you started the thread. If you don't want public responses, use your PM network.
     
  51. whow......

    what committment
     
  52. You could also get a girlfriend and "pimp" her out at night. Or, if you have a sister, that will do too...

    Just keep telling them they only have to turn tricks a few more weeks. You are getting close, really close.
     
  53. You may have something there, kg . . .
     
  54. i lasted 4 years with less than that as i lived off the account (and i still have some left and a new car).

    unless you know what the hell you're talking about, you shouldn't even be stating an opinion.

    p.s. i just feel like being an asshole today.
     
  55. Maybe I'm missing something, but this seems contradictory with your view from last week: "None of this, however, addresses the issue of disruptive posts and continuing efforts by certain members to pull threads off track. "
     
  56. lol.

    Live long and prosper, master trader.

    p.s. you are doing a good job of it ("being an asshole"). Just stay as humble as you are now, and you will go far in life. lol
     
  57. What track am I pulling the thread off of? It's just another thread about the soap opera of GG's life. Ditto with the clone of this thread under "Trading". It has absolutely nothing to do with trading, only with the aforementioned soap opera.

    But if you guys are that fascinated with it, enjoy. I have things to do.
     
  58. thank you!! yes!!

    EVERYONE!! BOW TO ME!! NOW!
     
  59. bwahaha

    who are you trying to fool?
     
  60. What is sad is that you had people who wanted to help you, but your attitude probably drives (drove) them all away. I have been trading successfully since 1994. It is my sole source of income, and I live well. I am not saying that to brag, I am saying that to show that I speak from experience, and was willing to give you input and advice.

    But, now you could not pay me to help you. Maybe you will figure it out on your own. Or, maybe you will find yourself at age 35, and posting on the ET board, asking about alternate ways to raise money so you can continue your trading.

    I vote for the second option as what will happen unless you change your attitude.
     

  61. If you take the time to take the test - chances are there is a problem. :D
     
  62. Hey Gordo, I remember posting on your last thread some very good advice. Its a shame your not going to listen to it..but hey I wish you luck nonetheless. I will say this...I am an independent successful trader with a large account. I look forward to adding your 17,000 dollars from your car sale to my stash in the future. Your the kind of kelp I love to feed off of in this ecosystem. See you back on the field the gloves are off this time. Good Luck!
     
  63. Gordon,

    My advice to you is to go forth and do that which you are going to do anyway, and then when you get there, that is where you will be at that time..

    Good luck:)
     
  64. This thread/story is like a watching a multi car crash with wreckage and bodies strewn all over the place...you want to turn away, but you always will end up looking :eek:

    Hey, speaking of cars, what do you think of working at a dealership? :p (Don't laugh)

    You could easily set your hours to work after 12:00 which leaves the morning to trade. There will be plenty of downtime at the dealership, so just bring your laptop or PDA if you want to watch the market.

    Most dealerships offer some time of demo program so that will solve your car problem and unless you are socially retarded or grotesquely disfigured, you might be able to swing a grand or two a month.

    You'll have to sacrifice your weekends, but what other "part time" job would offer at least the opportunity to make enough to keep you in the game.

    Who knows, you may actually like it. A friend of mine that graduated from Babson and got his MBA got hooked up with a large dealership in the Finance Dept. He spent time on the sales floor, in management, and is now a partner and worth millions.

    Stranger things have happened.
     
  65. For some reason... Aphie's post is the most convincing...

    Anyways...

    I can see you're very hard working through your posts in Wealth-Lab's site and here...

    But... let me suggest that you haven't hit the bottom yet... Because you don't know or seem to admit what you really did wrong...

    Why do I say that?

    Because you are still not expressive about yourself, despite starting this thread... seems like you're seeking to find an alternate reason to ignore your core flaw...

    Well, just my 2 cents...

    Sorry if I'm wrong...
     
  66. Hey,

    Cool Hand Gekko,

    Have you decided what to trade? You gonna daily or intra?

    And never forget,

    "Sometimes nothin' can be a real cool hand" :cool:
     
  67. do you have a rule based strategy that has been backtested. Or are you just winging it?

    e.g.
    5 min bar close above high or previous 2 days go long on open of next bar.

    initial stop $1.50 profit target $4.00

    trailing stop close below 20 day simple moving average.
    (include slippage and commission) backtest for 1 year.

    OR are you doing the old, this is the trend if it looks weak I will sell on a strong breakdown of trendline and hold for 2-3 points, close out quickly if position goes against me.

    One of these can't be done and is similar to gambling, the other is possible and can be tested and improved on.
     
  68. I meant points not $ I trade the ES.
     
  69. Oh and forward test the system realtime without cash for a few months.
     
  70. If you ever consider a position outside of trading I think you would do real well as a fiction/non-fiction writer. You certainly got me and a lot of other folks plugged in and know how to tell a story. As Mark Twain said:

    "Truth is stranger than fiction because fiction has to make sense".

    Good luck in whatever you do.

    Jorge
     
  71. gordon gekko, how do you support yourself? with 2000 you cant be making money to survive and how the heck do you have a car whose depreciated value as of now is $16,000?



    do you live with your parents?



    Bro you should learn some money management skills. A guy whose trading with 2k shouldnt be driving a expensive car. You should be driving a 5k car at max.
     
  72. I know this horse has been beaten to an unrecognizable bloody pulp on the side of the road waiting to be picked up by the local tallow company, but, GG, dude, you need to get your head right. You may have the know-how, but you're way off on the psychological part. There, I've said it. Thank you...drive through.

    Uni
     
  73. let this thread die...please.
     

  74. He could get by with a $1000 car.
     
  75. As you say you living from trading. Can you please tell me what is the biggest contributing factor to this achievement? Is it discipline or persistence or what?
    How much capital we talking about here to be able to do this, beside my first question?

    Thanks, Hun
     
  76. Are you from my home town, Baltimore, MD?
     
  77. No, Melbourne Australia
    Hun
     
  78. You started it. What did you expect? I suspect you do this to get your feelings validated by like-minded people. If so, that just proves that you're not psychologically fit for trading. Your actions are akin to trolling for tips.

    Good luck. You're going to need it because you don't have much else.

    Uni
     
  79. spoken like a man who might be on the the right track
     
  80. No, don't let this thread die for the pathetic crying baby...

    Honestly, there are more people who eat more shit than you trying to become a trader.

    I worked in several firms and hear stories from other established trader. They've been more shit than I have and far more shit than you have. For example...

    One guy had a kid and no job when he started trading at the floor as a runner and getting a second job as a bartender. He soon became a clerk and then a trader....

    One valuable lesson he taught me is that ego and self-esteem has nothing to do with making money and succeeding in trading...

    It's all about doing what you have to, for giving your kid a good life...

    Another thing he taught me is that it's not about what you want to do but what you "are"... Passion, desire, and motivation is important but it's more important about how you express it. Everyone wants to be rich, but who actually is... his words changed how I look at trading and how I trade too, being less of a Gann Analyst and being a true trader

    Including myself and you GG, we're pathetically weak compared to some people who's gone through more shit...

    In a sense, it's a complete disrespect to elders in the trader way of life.