Number of accounts blown out is not correct too. I blew out my first account (which was in size a multiple from what the average size is on ET). I stopped trading immediatelly and studied fulltime (at least 8 hours a day) to find a profitable and consistent system. About 10 years after starting my first trade I strated to trade again and never blew up again, never had a margin call anymore. And over the next decade my performance grew steadily and consistently. My second option was,after blowing up the firtst time, start to trade again. But that would have cost me a few extra blow outs.
No I don't agree. I NEVER received anything from anybody. People are, like everywhere, selfish. Those who always say that people should share, are those who need help, they want to receive but never give themselve. When I blew out my account nobody helped me. Later when I had a profitable system a few people suddenly wanted to be friends... Because I did not share, they disappeared as quick as they arrived. That's real life. Win the lottery and the next day everybody is knocking on your door. But nobody ever knocked on your door to bring money. A profitable system can only stay profitable if you DON'T shared it. If you share it, the people who should keep it for themselve, will share it again. You will lose complete control over your own trading system and will never be able to take control back. It is like putting something on internet, once it is there a few seconds the harm can already be done and is irreversable.
Offending me will not help you to get info you need to survive. This is what I found on your profile, posted by YOU:Are there any Futures or Commodity traders trading successfully intraday?...If so, what are your strategies? This explains all we need to know and you personally confirmed my point of view.
Right, this is a trading forum; a place where people share ideas about trading. You seem to have anger management issues. Have a martini and lighten up.
I'm inclined to agree with you. The fact that there are large numbers of futures and commodity traders trading successfully intraday is a self-evident reality, I think, otherwise the financial institutions employing them wouldn't be paying their substantial salaries and bonuses. I also think it doesn't really require any stretching of belief at all to see that there are also large numbers of independent traders (some of them former institutional traders) doing the same thing. Still, a nice Martini wouldn't do most of us any harm, either ...
We're here to discuss trading not give away specific methods. Some may, and that's okay if that's their thing but for the most part, people who share trading "systems" are mostly vendors and not traders.
Most people who have spent 1000s of hours researching a trading method do not want to give it away for nothing. Traders trade, the trading business model does not benefit from giving away information. Some people write books with good trading ideas in them. They nearly always have an agenda to sell trading courses or software or newsletters, as such they don't mind sharing what they have found as they will make money by selling it. That is a different business model from trading. A few people might do both, trade and sell for extra income, but that is rare. Its a completely different skill to do one or the other well.
I agree, and I'd add that many of them are all too aware that the realities of trading and its forum participants predicate that an attempt to do so would be both (a) enormously time-consuming and (b) of very little - if any - real help to most readers trying to duplicate it. It's typically when people imagine that they can achieve steady, long-term success in trading by "copying something that just 'works'," that most of the "accidents" tend to arise - and of course there are reasons for that.
From 2000 to 2004, I sold options on futures on the phone (unsuccessfully) and worked in the brokerage back office. I've attended futures conferences and read many books, including books about taxes on trading. I tried to trade options on futures on a very small scale unsuccessfully. Now I'm going to try to day-trade emini futures full-time. I will try to use some indicators to help decide entry points. If the market confirms the direction of the trade within, say, 5~15 minutes, I will stay in til I make 4+ points or more (if the market continues). If the market does not confirm my entry, then I will exit. I hope to limit losses to, say, 4 points. Obviously I may lose more in fast markets, or gain more if the market goes in favor of my trade. Over time (weeks, months) I hope that I can at least break even on winners vs losers. I think one key will be whether or not I can win more each trade than lose each trade. To the extent I can do that, then I am counting on compounding (as in compound interest) at a relatively quick rate (compared to, say, "stockes compound at ~9% / yr over the long run") to build the account to hundreds of thousands or maybe even millions in 3-5-10 years. Another critical key I'm counting on is to increase the number of contracts I trade as the account grows, and reduce the number of contracts whenever the size of the account goes down (per Ryan Jones - The Trading Game, Playing by the Numbers to Make Millions, a rather opaque book about cash mgt). Hopefully this will maximize the effect of compounding during increases, and reduce the risks during draw downs. I think I am self-disciplined enough to make it work. We will see. Any thoughts on my strategies from successful traders?