What I meant is use this thread instead: http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=29
1. Use ET's Ignore option for anyone who posts negatively without offering any concrete trading information. 2. Know in advance of every trade exactly where you will take a loss and honor that plan. All the best to you! Domestication The impact of other peopleâs opinions and reactions to us became a very strong force in the habits we created. In this process we created agreements in our mind of who we should be, what we shouldnât be, who we were, and who we were not. Over time we learned to live our life based on the agreements in our own mind. We learned to live according to the agreements that came from the opinion of others. In this process of domestication it turns out that the choices we make and the life we live is more driven by the opinions we learned from others than one we would choose on our own.
You are probably right but human exterme idiocy is the same like human genius. They are both mind-boggling-unpredictable leaving you head bat beaten and with a "wow" shaped mouth. (Just rambling in bad english after local VW service managed not to repair my car and charge me a fortune)
<<< I said that my planned return% is to have 100k by the end of the year. I definitely dont throw darts and "hope" there is no hope, just cold hard facts in my trades. >>> Did you mean to say $100,000 or $1,000? If you actually meant $100,000 I assume you selected that goal based on the % return of various super short term trades you've either paper traded or did for real. But again, I have to remind you % returns on very short trades are 100% meaningless, in terms of how the value of your portfolio will actually turn out at year end. If you did 50 - 100 very S-T trades through out the year, with each earning 50%, you'll end the year earning A LOT LESS than 50%. Those very S-T % returns are 100% meaningless. The shorter the trade the more meaningless the % return. A goal of turning your $700 into a mere $1,000 at year end will be difficult enough to do, as that will be close to a 44% annualized return..... without even factoring in all your commissions.
Rags to Riches http://www.bloomberg.com/video/nast...of-vintage-retail-tH7wVcJ3RKGvO7_FqALIHQ.html In real life it's possible... but there are 1,000 failures for every success story. I don't think it's possible in the options market. A store on Ebay is a lot more feasable... Besides... you gotta move to LA and I'm sure you're not as cute as the girl in the video. How could anybody say 'no' to her???
I am rooting for you to beat the odds! Is your trading entirely discretionary or do you employ some sort of rules or indicator?
Googled a bit of this and right of the bat I found out that your risk is higher than your reward lol....... no further comment needed.