I have decided to stop trading (too many losses, not profitable). I have paid for a 1 year esignal futures packages real time, which I have run for 3 months, there are 9 months left. I wish to sell it off at half price. I sell for $400, negotiable, paying via Paypal. (for pricing see www.esignal.com). I can give any sort of guarantees, in order to trasfer my account to a new customer. Thanks Who is really interested, please reply and I will give details, my email, phone, etc. Thanks sys80
I wish to add that: My esignal account works for stock too, not just futures, since I have subscribed (and fully paid 1 year) Amex, NYSE, Nasdaq, etc thanks sys80
Yes, I lost around $16K during the last 6 months. Therefore, I do believe this is the best decision I can now make. Good luck to you and other fellows here at elitetrader.com Sys80
No, as most people I started by losing money in stocks, in 2000. Then I, wrongly, supposed that with higher risk and higher leverage instruments, like futures, eminis, T-bonds, things could go better, via attending several good chat rooms, fee-based, etc. Of course things did only go worse, even with good trainers. As a Uni excellent student, I boldly and stubbornly did not believe this failure could happen to me. Now I believe (and a trusted friend within this industry confirmed to me) that there are no more than 3-4% of retail people who can make a living by daytrading, futures-trading, etc. Ask any room moderator, fee-based chat rooms guru: Ask your introducing broker internal traders: will they accept to trade your account, suppose even a large account, like a $100K account, if you give them 30% or even 50% of the profits? Yes, if you reassured they are free from any responsibilities. No, if you ask them a warranty, like to pay back the money, if they lose/destroy your account. Strange? For a "supposed successful" futures traders, adding a $100K to his account, for trading, would not be a good chance to proportionally and instantly increase profits? Expecially if he is undercapitalized? The only ones who consistently make money, IMHO, are people running Introducing Brokerages, and people at FCMs. The first ones need only to allure a good customer base, making them believe they will easily make money in this industry, with minimum 5K accounts and $500 margin on ES, They just hope their customers are not too on the gambler's side (risky for the broker, who will guarantee for them to FCM). But if they lose money in little steps, lasting 3-4 months, basically their earnings (commissions) are safe and sound. When this trader has given out all his account, the IB just need to find new fresh replacements-traders. Easy, isn't it? Apart from this IBs some CTA can also make money. Daytraders? I really never met succesful ones, the ones I allowed to trade my account, (as a last desperate resort), were all loser, in the short term (2-3 months). When I say losers I mean they were able to lose 30% to 70% of my account, within 2-3 months, after initial (lucky) good results (lasting few days). One of them, (found here on elitetrader) willing to continue trading, arrived to say that, if he could be allowed to go on for a little more, he would have re-funded my account of this huge losses. Of course I never saw any funding...until I realized how stupid I was. He told me he was a former cbot floor trader. I saw his name on the nfa web site, with good marks, no negative feedback. The conclusion is that even former professionals are much short than succesfull, today in electronic era. Would you believe that an officially-registered CBOT trader could be able to raise my account for a good 30% in the first 2 months (overtrading, yes, risking) and then, when I added funds he wipes off 70% of my account within 3 days, of mad trading, believing, in his uncontrolled mind, ES "should" breakdown, while in fact ES rose 40 points? The only winners, in my trading carrier history, were these ones: Datek in 2000 Cybertrader in 2001 InteractiveBrokers, PioneerFutures in 2002,2003 Yes they earn a lot in comms, they never experienced a negative day...with me. Thanks, sys80
well, i'm sorry how you feel. and its ashame that you lost so much money. tell me, did you ever have a consistently profitable strategy before you started trading with real money? we all know that only a few (3-4% as your friend put it) make it. but that is just like everything else in life. the only reason why it is so evident in trading is that people can't hide from failure. good luck in your future endeavors, and just remember that if you think it can't be done, then it can't.
Can you tell us of 180days and the losing amount 16k, what were you daily percentage loss per day based on your trading capital? This figure is very important to know how fast you were losing money?