11/18/03 Action: sold YG shorted QM Current positions: long ZF/ZN (3/8 size) short ES/NQ (3/8 size) short QM (1/4 size) Account equity vs. start of thread (8/15/03): +8.0%
first this guy starts out trading 1 ES (which is absolutely fine), specifying he would only increase size if his equity passed 10000 USD, which it never did. Instead, he lost on his trades. No wonder, because with a trading mythodology of setting a stop loss 4 times higher than any of his profit targets, it can only be a loser's strategy. THen he suddenly starts trading all kinds of contracts. Moving into interest rate futures, gold, and what have you. After losing more he suddenly comes to the conclusion to start trading FOREX, which he has no idea nor knowledge about at all. THen he states that he keeps loads of cash (whatever a trader, trading one contract every time defines as a 'load') at home, which he should have better kept in at the very least T-Bills. AM I ON THE MOON, or did this guy violate every single rule and advice ever set up and given in trading history??? Hey, you asked people for useful contribution: HERE IS MINE: Close this thread, you sorry lad, stop trading, and start reading some serious literature on statistics and stick with one or two single contracts. You do ALL OF US and YOURSELF a great favor following this advice. WOW, reading posts of these guys makes me perfectly understand where the high % of losers among new traders is coming from. But you know what surprises me most: Many of those are not some 20year olds. No, look at those trading exhibitions. Some pimps wearing sunglasses are standing in front of some Las Vegas Conference (who look more like porn actors than successful traders, which they are btw not, otherwise they would not need to stand there selling their poor books and ideas). Who is the audience? I could not believe it but most of them are retired guys!!! No way, I thought. YES, so many of those poor guys are lured into wrong and simply made-up promises of riches. Wow pathetic and poor. My postulation to the SEC and oversight boards: Stop this ridiculous show and increase margin requirements for futures by at least 5 (better 10) this will kick all those wanna bees out. Its not that I would feel better, cause I make money of them. But it will keep those away that are anyway hurting themselves and their families. I dont even want to start to imagine how many of those losers lie to their wives and steal money out of their shared savings to waste it on their losing proposition.
Are you on the moon? I think you are NOT even in this universe. There are so many false statements in your allegation that it'll be a huge waste of my time to correct all of them. PLEASE, please read the whole thread before you make such comments. Either you don't know what you are talking about, or you are just jealous that I am enjoying positive returns on all my three threads.
11/19/03 Action: shorted more QM Current positions: long ZF/ZN (3/8 size) short ES/NQ (3/8 size) short QM (1/2 size) Account equity vs. start of thread (8/15/03): +7.9%
11/20/03 Action: reduced QM Current positions: long ZF/ZN (3/8 size) short ES/NQ (3/8 size) short QM (1/4 size) Account equity vs. start of thread (8/15/03): +9.1%
11/21/03 Action: None Current positions: long ZF/ZN (3/8 size) short ES/NQ (3/8 size) short QM (1/4 size) Account equity vs. start of thread (8/15/03): +9.2%
11/24/03 Action: closed QM short added ES/NQ short Current positions: long ZF/ZN (3/8 size) short ES/NQ (5/8 size) Account equity vs. start of thread (8/15/03): +8.4%
11/25/03 Action: bought YG Current positions: long ZF/ZN (3/8 size) long YG (1/8 size) short ES/NQ (5/8 size) Account equity vs. start of thread (8/15/03): +8.8%
11/26/03 Action: sold YG Current positions: long ZF/ZN (3/8 size) short ES/NQ (5/8 size) Account equity vs. start of thread (8/15/03): +8.4%
11/28/03 Action: daytraded 1 ES +3 points added ZF/ZN Current positions: long ZF/ZN (5/8 size) short ES/NQ (5/8 size) Account equity vs. start of thread (8/15/03): +7.6%