From 12K to 40K in 6 months

Discussion in 'Journals' started by mhtrade, Jul 1, 2009.

  1. mhtrade


    After 7 1/2 frustrating years of attempting this full time (yes 7 1/2) and now coming to quite literally the end of any available capital, the past month has been an eye opening experience of keeping things relatively simple and sticking to a plan that works in real time. <p> This journal will serve as nothing more than a public recording of the final 12K stake. My living expenses are enormously high thanks to a too big house, ex wife, and 4 kids along the way so there is an added hardship of withdrawing about 10K/month from the account (yes - I know I am only starting with 12K). The 40K goal is for year end after all withdrawals out for living expenses. <p> Along the way, I have blown out probably more times than anyone I have heard about, taken out more in personal and home loans as well as family than anyone I have heard about and kept most all of the details from anyone including my wife that knows me, yet have continued on, believing (some no most no all would say foolishly) that "one" day the corner would be turned. <p> So let the flaming begin. The naysayers and all who will undoubtedly question why the heck I am here and show nothing but doubt about what is being done.<p> I am doing this for no other reason than to say it can be done (even if I am jumping the gun early right now) and for those who will flame along the way, let the proof be told along the way.<p>I plan to post once a week at the end of each week with the most recent numbers.<p> To bring up to date, June 8 was the most recent start of a new bankroll. 12K was the starting capital as of June 10.<p> date balance net withdrawals
    6/09 12000
    6/10 9498 -2502
    6/11 10405 907
    6/12 9841 1467 -2030
    6/15 10466 625
    6/16 11116 650
    6/17 12153 1037
    6/18 12998 845
    6/19 10981 13 -2030
    6/22 11325 345
    6/23 12923 1598
    6/24 13704 781
    6/25 12729 1054 -2030
    6/26 11526 -1203
    6/29 13009 1484
    6/30 14844 1835
    JUNE TOTAL 8934 -6090 <p>
  2. 1. Is the 6K and change taken by you to pay the bills or taken by the markets.
    2. Are futures or stocks guy?

    Good Luck!
  3. mhtrade


    saxon -

    The 6K in withdrawals are just that - cash withdrawals (to pay bills and such). <p>
    The second number after the daily balance is the actual day's net trading profit. The third number if any is just the cash withdrawal/wire out.
    I strictly trade futures.
  4. So you traded 7.5 years without a strict trading plan? Are you serious? :eek:
  5. Taking out that kind of cash from your trading will make your goal all that much more difficult.

    Wouldn't be better to leave what you have made so far to have a bigger account and as a result easier time trading?
  6. thoughts:

    1) trading that must support you is called "scared money" and makes it much more difficult

    2) I don't see how it is possible given your experience to accomplish this without extreme overleveraging and major luck. This is neither interesting nor meaningful to anyone who is experienced with this.

    3) without system statistics (what is your profit factor, Sharpe, maximum drawdown, leverage factor, diversifation, money management skills), none of this is relevant.

    4) Trading is about risk-adjusted reward. A target profit is almost irrelevant. All you are doing is throwing all you money onto 1 or 2 numbers on the roulette wheel. Reaching the target is gambling luck, not a journal. It is called "I said - to hell with Risk of Ruin. I have a 1-2% chance of making it."

    5) without audited returns, this and every other journal is not credible, except to you. If you say you reached it, only the foolish would agree.

    6) Everyone who "supports" you is not doing you any favors, and is probably not aware of successful trading in the first place.

    So I am concluding, nothing personal, that you have no idea what you are doing, and are either:

    --- putting on a paper-trading show
    --- are really completely unaware of what your goal really means
    --- OR are somehow going to throw money at you if you get near your goal as either seeking your mentorship or an advisory service you hope to slyly start on ET's nickel. In which case, your possible students will deserve to lose their money.

  7. Knock Knock Knock. McFly anybody home?
  8. how much lump sum did you lose in 7.5half years?

    this game is not fun, suppose get rich quick end up with poorer situation and lots of strugglings

    forget about the market, move on with your 12k and find a job
  9. I think that as long as there is a substantial improvement in your method and solid testing behind it ..... and you are certain that the past mistakes and holes in your approach have been ironed out, then there is a decent chance you could make it this time.
  10. kxvid


    Just because it is possible doesn't mean you should attempt it. Setting unrealistic goals is an excellent way to blow up. I am sure you already know this but are just hoping to roll the dice one more time...
    #10     Jul 2, 2009