Calling 'Em Like I See 'Em

looks like the censor police are on duty. i was pointing out how it looks like we have another one of those guys who seems to think they know it all and belittle other traders who only make 50% a year. i have seen lot of these types come and go over the years. i guess time will tell if this guy is another one of those.

 

I simply don't have the need to have tons of money in my account. I can do what I need to do with a minimal amount. I suppose that a 'black swan' event could 'wipe me out'. As I said, I'm very conservative when it comes to letting a position go against me. And anyway, what's the difference whether the 'extra money' is in my trading account, or in my bank account. Worst case scenario, I could always re-fund. I find keeping it low keeps me sharp.

Not sure what you mean about a post disappearing.

 

It was not my intention to belittle anyone. I did not see what seems to have been your original post--I hope it was not derogatory. I'm not looking to pick any fights.

I apologize if my tone came accross as condescending.

 

ok. lets see how it goes.

 

At this time, I use only 2 screens.

On a laptop to my left, I have a simple quoteboard of all the contracts I follow, even some that I don't actually trade (eg. Bund). I follow them, because I do a lot of inter-market analysis. I can see the laptop out of the left side of my periferal vision. When things start to move, the flashing colours catch my attention immediatly. This is important for me, because I might otherwise miss trades...

On my desktop, I run: 1) X-trader with a bunch of MD-trader screens spread out for quick access. 2) My Ensign. 3) Email, web browser, spreadsheet, and a bunch of other stuff.

I'm pretty quick, so I can switch from, say, charts to X-trader in a flash.

When things aren't moving, I like to spend my free time studying. Not necessarily (and usually not) the markets. One of the things I like about trading is that it gives me the ability to do other things I like. That's why it's critical that I have the quote board in my periferal vision.

On the laptop, I often run a second instance of X-trader using the TT-sim simulator. This lets me 1) try out trading stragies without risking money when I want to, 2) play around when I get bored and feel itchy-finger syndrome coming on. This for me is critical.

 

Many don't believe this, but my desktop computer is a Pentium 3 800 or something like that.

I take a minimalist approach to the 'stuff' I install, and to this point I've never felt the need to upgrade. It works great for me, and the thought of setting up a new computer the way I like it keeps me using this one. If I felt the technology was holding me back, I would upgrade in a second. Many times I imagine it's going to happen. But so far, it hasn't.

 

I don't have much of a social life. Very few friends. But no enemies either. My wife and kids are more than enough for me. I guess you could say she's my best friend. Who's got time for socializing at this stage anyway?

 

As you can already see, I am somewhat disorganized and tend to jump aimlessly from one subject to the next. In this way I have a complete lack of discipline.

Sometimes my trading is like this too.

But then again, often the markets are also like this. I think that's one of the reasons I like trading. I apologize to readers who find my aimless ramblings annoying. Just skip whatever you don't like.

 

Obviously, trading is about finding (relatively) low risk trades with potential for decent profits. I'm not much of a mathematician, and I don't get caught up in the 1) system testing, 2) risk-vs.-reward ratios. I know that for some this is akin to trading-herasy. For me, I just take each trade as it comes.

Some time ago I had one of those 'eureka' moments. I was hanging around in a trading-chat room, and people were posting these high-tech charts with indicators, and fancy colour schemes, and all kinds of math etc. Others were oohing and aahing.

Some trader once said "Everyone takes out of the markets what they want to," or something like that. I think a lot of people just like the fun of trading -- making a bit of money some days and losing a bit on others, while they perfect their charts and other stuff. I could see this in me too. I decided that my focus would be making money and supporting my family, and not turning trading into a social-artistic experience. I don't think you can have both.