na.. Lets not leave it at that. Lets prove it. Come on Mike, be an inspiration for us pikers. Prove that you are true Futures trading Champion. Not to prove it to you, but to prove it to us.. as to whats possible with regards to risk/reward...
& that may very well be the Best Advice and Inspiration you or anyone can give it to the original poster... as well as to me.. as well as to many other lurkers..
Ok. I've posted this link numerous times but here it is again anyway: http://www.cbot.com/cbot/docs/handbook.pdf Take a month and digest this info, create some of your own models from it and experiement on paper. If you do that and can formulate some general conclusions, as well as answer some questions I ask you then we'll start a thread about it. Sound like a deal? Mike EDIT: By no means do I claim to be a champion, not even close, but I do make money.
lol... you use Market Profile and you tell me to shut up. Thats crazy mike. Yeah.. Mike, now YOU REALLY makes me wanna see something that you can prove to us that you're profitable...
I don't understand what you are getting at? Yes, MP is a tool I use, as well as many others. Have you actually understood MP, applied it and gotten negative results? No need to get hostile here, I'm not looking for a pissing match. You attitude speaks volumes at the moment. EDIT: You wanna see it done? Well, how about this, I think that given your state of mind, no matter what you see you will point out the negative and emphasize that. Period. Until you change that, I, nor anyone else can help you.
What I gave him was the ADVICE that is SUITED for MOST PEOPLE. If he isn't like the most people, then he isn't and he'll find a way around it.
I think you are saying "you must control risk", while the previous poster (Ripley) was saying "you must be scared of risk". My point is that one cannot be scared of taking risks and hope to succeed as a trader. Trading is risky, inherently. The succesful traders I know are aggressive, comfortable taking risks, but are not complacent in their risk taking. -segv
How can you say this? You average down, blow out your account several times, blow out 40k in a futures account in 2 fuggin weeks, quit your job, put your family at risk, etc... And you still have NO strategy after all this time. I make good money but it's a grind. Same thing day after day after day... I make $500 - $1,500 consistently. On a bad day I break even minus whatever commission cost, so maybe a couple hundred bucks. I cut losses immediately, I NEVER move my Stops, I NEVER Average a Loser, don't make foolish trades, I go for Singles only, F'k Home Runs, follow good money management, etc... How can you say you've gained a lot from this board? I think you should leave trading for a while and concentrate on YOURSELF and your family. Get a job and if you can save some money then trade small and start back after you have tested your system. Good Luck Mac