Give me a completed 1933 Model J Victoria Duesenberg I be happy, have parts for one, but 55% doesn't make it run. They don't come up often for auction and either high 6 figures or low 7 figures when they do it usually husband died. If the fund has co-managers and funded into millions, 700% would be one hell of a feat. It is easier to make 700% with smaller money like $3k than it is with 30 million. So like on a $10k account, trading a 2 lot, you have to net $160 each day on each futures contract, but some days you have to make more to offset you make less. Manually it very tiring to scalp as huge stress but automate your method is very possible with low sums, but once you get account going up and happy with drawdowns and hopefully keep loss percentages very low, you increase size, lease a seat and trade like a bandit.
Always keep in mind there are tons of great risk managers who can't make money and simply slowly grind into oblivion. If you are starting with an amount that 10-15% consistent per year will not earn you more than a minimum wage living-- you need to ramp up your risk tolerance or you might as well be earning $ risk free in a job. surf
Indeed. Mathematically it all works out to be the same thing. When working with numbers like $30,000,000 account size however, there are other niggly bits, like the number of contracts to make it happen, along with contract limits, plus the psychology factor of it all. I can only guess as to how one could turn 30Mil into 210Mil.
It takes years of overcoming what I call "mindf*ucked" dealing with numbers. My Business partner has "mindf*ucked" the worst but is great trader if I am sitting next to him, but once I leave he is like deer in headlights, but he knows my systems better than I do, thankfully he can program whereas I no longer have that ability, one too many procedures done. He and I are honestly thinking of in handful or less years starting a hedge fund with our own funds. We thinking of starting with 4k, 2k each and see how fast automation will run it up, then add a sizeable more to attract money. Plus it will take that long to automated many systems I have developed and changed due to risk management. Trading size has to do with open of the markets, London has 90 minutes of good trading, then Chicago, Hong Kong all the same 90 minutes. So in these times you can run size without too much problems, then after you cut back and go from scalping to much longer profits which can also be done at start of day and run 23 hours in most markets, coffee as well. But scalping after 90 minutes, it is getting tougher each year as volume is shrinking and causing bars to be smaller in range. There are many many ways to different markets, where truly the problem comes in is how to offset risk. Some of my styles of trading is balls to the wall in day trading, but when you come to equities, it is tougher as Stock market goes up, your size has to start coming down to be safe, and some firms will hedge using ES when it gets toppy. I trade differently than most I suppose as when markets hit an area based on 9 years, I start going counter/hedged in futures and yet am still long stocks but as going higher-percentages gets tighter as far as targets and amount to keep hoping for longer term prospects is reduced. So my way has some parity to overall stock market but am strictly limited in futures to options available at decent prices, but can always go to SPX options for offset risk as well. One has to find alternative ways to cover risk better. I have become much more conservative several years ago as back testing shows I can do better by thinking "risk" first and profits second, and bottom line has changed for better, but biggest improvement is drawdowns not as wild and equity swing much much smoother, so what has happened is my percentages of winning trades have stayed same, losing trades gone down and better than breakeven trades have increased double. So I am making more end of the year, cause I am losing less often, this in turn allows for more trading and on margin-first time in my life in stocks. Less staggering drawdowns. I love playing the "game" as it is often times all I think about even after 39 years, I love to challenge myself and how to overcome situations. Longer you stay, you find it always been you against you that either makes you profitable or not.
That Bell Curve chart kind of implies total randomness...a bunch of monkey traders with no market experience whatsoever just throwing darts at a wall. Given a big enough sample, of course, you will have outliers of extremely successful...even if by just chance...traders. I must imagine that chart curve skew must look slightly different then that with some traders who actually know what they are doing in the market ...instead of a bunch of pikers gamblers claiming/blaming market randomness is hard.
The evolution,of the discussion shows clearly how negative people attack others without any logic, twisting their words, even not reading what is posted. A few examples: So it is clearly stated that they are NOT trading billions in this system. But nevertheless negativity speaks all the time about big size. They don't even read what is posted:they don't trade billions. Even after repeating again that they don't trade billions the rage continues. Even after repeating again that they don't trade billions the rage continues. This is really a big joke! The expert (who has no clue about futures, as was proven already in past) tells that "fund size doesn't really matter!" On top of that go from 10K to 70K in 1 year is his dream???? For experience daytraders it is a reality not a dream. I make every year over 700% net on my starting capital. I never knew that there is a link between the car you drive and the money you make as a trader. If I drive a Lambo you would believe the returns, but with a 335i not? LOL. Many times people who post big returns are considered as idiots. But if I read ET, a lot of negative arguments are written by idiots too. There seems to be no lack of idiots on the negative side too. I don't know if the poster makes 700% but I know it is possible on small till medium amounts of money. Besides if you make 700% even on just 500K, you don't care what others think. Especially if you know that the average ET "trader" has an account far below 100K. The overwhelming majority on ET would signs for 250K profits a year. That says it all. There is always so much negativity that I wonder if ET is elite or rather frustrated people that would like to be elite be cannot for some reason.
Extremely well written. I am just speechless after people attacking me over my username which has nothing to do with trading. I did not even say that I drive bmw 335i. I do not even know what to say anymore. Fund size is extremely important because just look at Nasdaq futures (NQ). You cannot trade 500 contracts at a time due to slippage. I guess most retail traders only trade one or two contracts so I think they have no idea what I am talking about. Good luck to you OP I guess I am done here.
Most successful traders will not help you with their methods. That leaves the pseudo successful traders to help you. Lot's of luck with that.
I beg to disagree. It is not their methods that you need, it is the basic understanding of the market, the mechanics of trades, the equations and basic hypothesis of trading principles, how prices behave, derived from... that are invaluable coming from the professionals. No two people trade alike so you just have to develop your own successful method. I got the most helps reading between the lines of the posts by professionals here. For example the risks of negative delta/gamma selling OTM, the importance of convexity..... Hang around and you will learn a lot more, or if you are a pro, you can enlighten us. Best to you.