I too am with IB and was curious if you use bundled or unbundled commissions with them. Also, have you formed an LLC within which you trade your Echo and IB accounts? If so... can you recommend an accounting firm? I assume you have filed M-to-Market with the IRS? Finally, I was with Assent until a few months ago when they dropped their prop traders. Can you recommend Echo and would you mind sending me a PM with a name you suggest I connect with? Many thanks in advance. Your postings here have been an enormous education for me and many others. Hope to return the favor someday, somehow. Regards, Joe
Indeed, after 10 months I think Lescor has done an admirable job of showing how to be a trader, as opposed to how to trade.
Yes, confidence in my strategy is a big part of it. If I leave positions unattended, I either have targets and stops in the market, or orders to exit at a pre-determined time. Over time I've gotten pretty good at not mucking up positions once I'm in them by overriding my rules. I don't do much winging it where I take trades on a lark or because they "look good". Then I will screw it up because I'm in without a pre-determined plan. But it boils down to something I've talked about for a long time, and that is learning to let go of an emotional attachment to money. I can truly say to myself that I don't care what happens today. I know over time my strategies should perform IF I don't screw things up.
I haven't heard anything from Echo regarding changing how they operate. They are a top notch firm and I'd recommend them to any serious trader.
amen, and end of story. hands down the greatest core belief all traders must internalize. if they care what happens today and every day, the only outcome in the end will be total loss and inevitable ruin. period
Two really good weeks in a row. Expected some action this week with all the news. Seeing more decently tradeable moves in more and more stocks, even with a dropping vix. +33,000 on 472,000 shares traded. Daily pl was +7, 0, 0, +3, +23
I suppose agreeing with the "respected" traders in ET is your strategy for making your snake oil service look respectable ? Saw you coming from afar.
yeah, because without this site here, I'm nothing at all <lolol> I happen to agree with a wildly unpopular view lescor professed that almost all day-trade addicts never come to understand. If I wanted to regurgitate what the masses want to hear, I'd be singing the praises of "gotta scalp every dime out of every trade to be profitable every day or you're a dismal failure" b.s. Wipe your glasses. The only thing you saw coming was your own close-minded ignorance. Take another look thru clearer lenses next time.
+4 aligning yourself with the boards top dog to market your product is embarrissingly obvious....pedal it elsewhere.