Down to about $90k, where would you park it if your trading skills were trash?

Discussion in 'Trading' started by zghorner, Jan 19, 2024.

  1. zghorner

    zghorner

    You trading on sim big dog?
     
    #91     Jan 20, 2024
    p0box4 and SimpleMeLike like this.
  2. Hello zghorner,

    No I do not. What I show you is back tested algos I personally built myself. That is why I tell you, you have to think bigger then what you know in the ES futures market.
     
    #92     Jan 20, 2024
  3. zghorner

    zghorner

    So you not posting returns in the live futures markets...
     
    #93     Jan 20, 2024
    p0box4 likes this.
  4. Then you path forward is simple:

    Find. An. Edge.

    Many edges have been posted here on ET. You just have to pay attention.

    Someone posted a method and edge last Nov 11th. Would earn you at least 2% a day, trading a fifth of your account size (but probably not scalable, so you couldn't compound past low double digit millions). Little risk.

    No one was paying attention though, post got no replies, no likes.
     
    #94     Jan 20, 2024
  5. Overnight

    Overnight

    There's a song for that...

     
    #95     Jan 20, 2024
  6. zghorner

    zghorner

    Can you link it or give me something to search off of.
     
    #96     Jan 20, 2024
  7. ZBZB

    ZBZB

    OP is failing at trading but investors are creating wealth in stocks and stock options. Super micro call we’re up 500x yesterday. That would have solved OP,s drawdown.
     
    #97     Jan 20, 2024
    zghorner likes this.
  8. I'll pm you tomorrow with the link and a little color/advice on it.
     
    #98     Jan 20, 2024
  9. tsfx

    tsfx

    If you care about long only strategies then just sell long term puts (on SP500 for example) and assume delivery should the market trade down. Don't use leverage and be ready to add another short put should the market trade -10% down. You get the benefit of high vola should the market trade down. You win when market goes up AND when sidelines.

    If you have an itchy finger then start doing prop firm challenges. It only costs you 1000 usd to trade 200k account. So you don't need to lock in your own capital. Pick a reputable one because 90%+ of those firms are scams.

    The added benefit of prop firm challenges is that you learn to think within the boundaries of positive sortino (trailing drawdown limit). Also, pick a swing account so you are not limited to trade intraday only and can override news events. Also, swing account do not allow too much leverage. Not to mention the 80% profit split should you trade successfully.

    Cheers.
     
    #99     Jan 20, 2024
    zghorner likes this.
  10. @zghorner,

    Good for you buddy. Consider yourself blessed that you still have your $90K and managed to pull the plug in time. There are many people who simply can't stop until they're broke and which lost far more than you, although you lost a good sum already. If it helps you, I just heard about a guy who lost $800K in the markets before he pulled the plug. I think that was savings/investments over a 20 year period. All wasted in a very short amount of time.

    In my view, for trading to be worth it, you'd need to make considerably better returns than what you would simply by investing or buy and hold since in effect you're actually working for your money on a daily or weekly basis.

    Unless you really like active involvement with the markets, i.e., trading, analysis and research, why dick around for 10-20 % when you can get that simply from buy-and-hold in indices most of the time?

    I'm preaching to the choir here, but it's worth mentioning for others who may be reading.

    Anyway, if you have 90K and lost 130K, you started out with 220K. That's a pretty good chunk of money I'd say.

    How were you able to amass that? If it was through some business, why not see if you're able to repeat that?

    Trading is a business and I'm sure active (day) trading is one of the toughest ways in the world to generate income/wealth. Not saying it can't be done, mind you, but you've experienced first hand yourself how difficult it is. There's just not much margin for error and you really have to nail it down whereas in other businesses you can be sloppy and crude and still make a good chunk of money. Compare it with any other day job, well paid or poor paid. You can have a shit day at work and still get paid. If you have a shit day as a trader, you can effectively blow up.

    The only ones who will tell you differently are the charlatans, snake oil sellers and the fake gurus on ET (of which there are plenty).

    Best of luck.
     
    #100     Jan 20, 2024
    S1lv3rh4nd, PPC, Snuskpelle and 3 others like this.