Stage 3 was no longer getting a salary related to my lifestyle. I changed work to have summers off (34 weeks a year) and just teaching while living in Greenwich. I bought US122 Kings cruiser (a sloop made in Gothemburg Sweden (the king lived there as well)). this kind of toy was four times the cost of MB sports cars. I traded the 190 for a 300SL gullwing (used) Stage 4 was involumtary but did serve as a kind of milestone. I call it "recongintion". A NY firm hire me (portal to portal to do white papers in sectors and to correct their production by others.) I could eran my intial capital in a day relatively speaking by 1962. the other half of "recognition" was a criminal part. The SEC saw me as an insider trader and cited me through my broker. Lawyers solved this SEC mistake by accepting the SEC's conclusion that I could not know that many people (the size of my Universe). This was incorrect but it solved the problem. Stage 5. The POA beginnings and Foundation associations. Since I had 2 degrees and had added theoretical Physics to my adademic bag of tricks, I began to participate in organizations (ISAGA, NSTA}. Grants are done by members so I was asked to jon teams. The Ford Foundation supported us and then we became the "Program of the Year" at NSF. What wrong out there became known as the "Environment". Board memberships accumulated. 30 books were writtne during those years. NY society is enabling. A lot of you work in buldings with plaques that explain to you who owns the land, Streets have names that are the same as the land owner. The NY Mayor lives on such a named Place. The UN land in part was contributed. Stage 5 is a merger of money, power and, at the top, information. My trading is out of the box and more and more I get noticed in various circles. o I did architecture in NY for the NPS. I created the Wednesday scene for 1976 on Wall Street. You guys got to block traffic by being the audience in front of the stage surrounding the statue of GW. Naturally, I dictated that the fence be removed permanently so people could brown bag at the Treasury Building. Pete Peterson took time off from Lehman to do Commerce Secretary at EOP. I worked for his boss, so we met. I arrived on wall street three different ways: ISAGA.... EOP ....and ....... NPS (via the AIA). Gaming and simulation was done before the PC; ISAGA met all over the world. We presented post doctoral papers. So I went the POA route on money. I did information inputs to have OPM traded. This stage is not understandable for most people. Don't worry about it.
Stage 6 This is where the whole trading world changes nd taking the full offer of markets begins. we see Baysian thinking beating a retreat at full speed and risk and money management disapperas. the impact of granularity is discovered and the identity of the "buy" and "seel" appears. with paradigm thoery from keynes we "see" that entry and exit are adintities except for the sentiment. so the end of entry/exit tradig arrives. Exit and entry are in the same moment. An exit locks in profits and a simultaneous entry in the opposite sentiment begins the next profit taking sentiment. This is "unbelievable" to the subjunctive mind of the CW myths oriented trader. Looking at 20% or 50% a year becomes laughable. The quant world had arrived and post docs in physics are making mud out of data. berman formerly of BTL and an MTS is exiting and writing books about how the quant world doesn't work at all. he is backed up by a narritive in situ about New mexico interlopers who are being back doored by people that hnow they enter the market every day at the same time to get thier pants taken off. Hold/ reversal trading consumates the lst 400 years of contributions beginning with rice trading in japan. Has an accomanying mental shift from up/down to right/left trasding. Two step becomes a waltz tempo. three up downs equate to a trading cycle of a three part move and anther three part move in the opposite entiment. CW is finally given it final fucking. where unworkable trend following is replaced by trend monitoring and analysis. OODA is replaced by MADA once and for all. today everyone sees fighter pilots are replaced by drones. Or they do not see war is fought differently than with spending money. IED's and drones replace armies, navys marines and the coast guard. the PC and cell phone make this possible. Entry/exit dies and hold reversal becomes vogue.
stage 7. markets have three observable fractals on any TF. the middle fractal is surrounded by a faster fractal and a slower fractal. We see all ftt's on all fractals are concurrent when possible. the interlocking fractal ratio is dictated by the variable granularity. granularity is not discoverable by most CW built minds. why this mutual exclsivity? why even explain it. just go through the witnessing of those who can't get it compared to those who get it. ET was probably made for showing this single phenomena. those who can't get it cannot even ask questions. who care? no one on either side. So the yield is either 20 to 50 percent a year or 20 t0 50% a half day. Trends fail. Overlap begins. Upon BO of the RTL the overlap ends. Market cycles are composed of two sentiments trend completiions. none of this is "believable by persons whose minds are closed. what closes minds. Well, one thing: accepting the wqrong beliefs. This is the financial indutry conducting sales to get OPM to make 20 to 50% a year. Read Grisham's novel entitled: "The Associate"
stage 8. so now we look at the reality of taking the full offer of the market. we need four theoretician's work to complete getting our minds built. Keynes. Carnap, boole and Mandelbrot. about every body who read my posts is fucked at permanently at this point because work is invloved. bottom line. a person who is accomplished can see turns in advance. they see the subfractal n-1 turn and then see the N turn with the FTT and the ftt. volume is the independent variable that is measured to give the carving of the turn for P the dependent variable. I have a chart of these pairs of turns. it is four types of trend endings and on one page. One page allows any person who has a fully differentiated mind to "read" the markets full offer and take the full offer of the market. It is "unbelievable". You will find it "unbelievable" too. join the majority. So don't ask and don't tell.
You are quite a writer, Jack... Not much of a helper but a writer indeed. Are you coming wihle tipping your ramblings on the net? I'm just curious? It takes a long time though... You have to do something about it. Try a woman...
Its really a long process to grow the account into a larger one if the trader is low risk taker. But whatever the potential of compounding can not be neglected.
Here's the secret to growing your account. There comes a time in every traders endeavors where he will hit the zone and make a tremendous amount of money in a short period of time. At that time is where u should ensure that u have predetermined stops in place. There a reason to this, when ur in that zone u are making thousands a day and one day u will hit a price shock. Greed will then make u hope u get that money back and sometimes add to that losing position. Sounds easy but is one of the hardest things to overcome. If you avoid this situation your account will grow.
I believe smooth victories in forex market , It is the safe way to grow your capital . We can slowly grow our capital it will make us confident we we regularly get profits . High risks can put our capital in danger there is no guarantee or security for our amount.
Itâs very interesting that whenever the argument starts regarding the trading, our whole observations and reality perception almost changes to unrealistic expectations. Whatever the style a trader adopts the common goal is same and yes it is account growth. But I think that concentrating on account growth only can distract from reality and we get hit by psychological phenomena such as if we win then along with winning flagship deep inside we feel proud to being right but if a trade is losing one then we feel as a looser and ashamed to being wrong thatâs why to cut a losing trade is very difficult. Thatâs why the trading behavior in demo account is entirely different than the real account. Letâs for a while assume that we all are driving a fast car on a racing track, our objective is to cross the finish line successfully avoiding all kind of accidents, so be honest will you concentrate upon finish line only, No your first objective will be âsafety firstâ then your skill of driving a car that will going to lead you from others and for being on track you need rear mirror to observe other vehicle moments but gazing too much on rear mirror will again steer you to a probable head on collision with any other object. All you need quick decisions and skill to move forward without any serious accident. So account growth can be achieved by avoiding biases or emotional traps and certainly just drive safe, surely you are going to cross the line successfully. Have a safe trade.
Garachen and Spyrik's posts are some of the most interesting that I've read on this forum in some time. The common denominator with many of these stories is that these people were willing to "take a shot" and roll the dice a bit to scrap their way up to the point where they had achieved a certain critical mass. You can't do it playing it too safe. Even guys like Bill O'Neil admit to this kind of thing early on. Then they tell you not to do it. I always try to break things down into a kind of expectancy equation. Although you can never know what the exact variables are. So (what are the odds that you'll take your account to X)*(x)-(the odds that you fail)*(50k) All of this over a given time frame. Obviously you could just put your 50K into the spy and when your dead you'll be a millionaire. Consider that day trading (and I'm not sure that's what you're talking about moving to here) is ridiculously hard to succeed at a high level at. Those Russian phd's mentioned earlier, yeah, guys like that are working night and day to separate you from your money in the intraday time frame. Reminds me of the blog title "You are not so smart." There is also a darker side to the constant Gordian knot-ish work involved in "edge discovery" as Garachen calls it. Many of these guys end up with clinical depression. You are carrying around a constant rubiks cube inside your head, 24/7. This "analytical ruminative" state will cause more problems than you think. And I'm sure everyone here who's really done this will know what I'm talking about. With position trading, you're a bit better off. Frankly, it doesn't take much time. Often, there's really nothing to do at all. Maybe look at a few screens here and there. You can probably do your thing in 30 minutes a day. At most. And it's not really intellectually taxing the way the above is. Besides, large funds can't really hide what they're doing so much. With leverage, you can still get decent returns, as you already have. I would always add that real estate is always something to think about as well. More work involved, but it's grunt work. And it's a good bit easier to trade against main street, which is what you're doing. You'd be surprised what a few years of mortgage amortization and inflation on a few houses will do for your net worth. Think about how many people you know that have make their money day trading. (I don't know any) How many from position trading (I know a couple) How many from real estate (I know many)