To correct this comment and to give my post a context, I was trading capital at 94% and themargin requirement was 1200 Dollars per contract. Thus to trade the 5 contracts you see traded by anticipating a trend somewhat over 6.000 dollars was in the account I traded. I keep 6% on hand before the daily sentiment to cover the costs of doing the trades. About 4.80 per round trip is required (around 200 dollars a day in costs) as anyone who did the calculations found out, the gross profit was 1,312.50 for the trades. I do market trades and plan for a slippage of 3 ticks per side for each action. This means I give up carving turns while doing beginner trading. So for Friday the capital was 6000 dollars plus trading cost money (200) and the gross was 1300 dollars more or less. All this means is that on Monday I trades 6 contracts and had only 112 dollars to pay for costs. By trading to make enough to add one contract a day with as little money as possible, then it is possible to enjoy a pleasant life style with this kind of exponential capital growth. In the past I did post consecutive opening trades using 100K. Unedr these circum stances, you saw five digit net profits per trade. Then costs are measured in thousands. I posted the group of attachments to show how students do trading. Beginners called the trades and they also did the charts you saw. the person providing the misinformation above, felt that I failed to provide a blotter ans, thus my post was useless. He aslo said in another post he almost made 4% on that day I posted. 4% of capital on one day is something he feels is acceptable. Making three ticks per contract a day is not what I feel is acceptable. Making three ticks per contract per trade is not vey productive either. Money is made by knowing you know all of the time the system of the market's operation. finite math provides this system. The system is the market context. By appliying money ofr one contract plus costs, any systematic person can quickly rise to five contracts in an anccount. five contracts grwo to 10 and 10 grow to 20 , etc.... Soon person get to be able to post blotters for trading 100k as is stated above. when blotters of those opening trades were posted, almost no one could read them Perkelo showed all of us he did not know when commission expenses were taken nor did he know how settlement works. In these times, we have responses from people who sound like cry babies. 6 and 1/2 hours plus 6k plus costs allows a beginner to add one contract a day to increase his trading effectivenss and efficiency. Use the chart to see how it could be traded by an expert. I handed out 6 - 3 by 5 cards to beginners for doing this trading on a trading platform The cards have the following titles: EXIT; Hold; Any entry; wait; reentry; and preserve $. There is one other card. It is six rows long. The last column is one word per row. a single word is in the row: In, out or hold. Anyone in the room can say the word. Each trader can look at his performance at the end of each day. Go to OS to platform to log and print the log done by the computer. You will be amazed by the amount of time that elapses (see right column) between sensing and taking a behaviorial action (see instructions going to IB). Drownpruf chose a very good handle cos he's a lazy cry baby apparently. for less than half of my trading career, the PC has been around. The PC is capable of letting a person be ariculate. He can note the trading context expertly. See 30 min channels for sentiment and see 5 min charts for anticipating trades. All the annotations come from printed look up tables. Everything is free. What day trading is worth is diificult to say. For drownpruf it is not worth it. For me, it is a leisure activity. that gives me a mental workout.
Mostly because I don't have the time or desire to go through the threads to find it and figure it out for myself. I don't care about any one call that is made, whether it is right or wrong or hits the target or not. I can assure you that if before market open it looks like price is going up, and that call is made, but 5 minutes into it price stalls and drops below the open, the exit is made without hesitation and perhaps even a short is initiated. It simply doesn't matter what price is doing, all that matters is that you see it and react based on what price is telling you. Your second comment I just don't understand. I am new to trading, so I do have a lack of knowledge. But I see this system works, which is good enough for me!
Ok, thanks, for being honest. But how do you see this system work? Seeing it work in the way it is presented is far different than it actually working. You may not understand this yet, but you will if you stick to this game long enough. Peace and best wishes to you!!
Only way to find out is to actually use it. I have paper traded it and had positive results. I am trying to trade it live but have issues with fear I need to overcome. It is different when real money is on the line of course. It is obvious to me that if it doesn't work, it is because the rules aren't being applied as they should be, but this is true of any trading plan, or practically any activity. So then if you ask why isn't it the same with real money as when paper trading, well, this all has to do with the trader but not the system. I have read before, and couldn't agree more, that trading is about the individual, its about his hopes and fears. But this of course has nothing to do with the plan. I know what to do, the trick is doing it.
I won't speak for KP but it is working well for me is sim and in replays. This is all I'm prepared for but soon enough I will start trading 1 contract. This should be small enough that I won't worry about it but who knows? So first it made sense in the explanation, then I back tested it, now I'm testing it in sim and it has held up thus far. Also if you look at the journals of the students following this method the entries are pretty much the same. I have put DP on my ignore list because he lacks civility and basically makes the same accusations over and over again and has started to invade DBP's threads and student's threads. He might be the best trader in the world - I don't know. It does seem very personal for him and that sort of emotionality is never a good sign. I have no idea what the real story is there.
I'd like to know as well why someone claiming to make $40K a day cares about the calls and claims of others.
$40k a day? Wut? I've had two days this week better than $40k and it's Tuesday. I posted my blotter. WTF is yours? This from another serial loser (ND) whose only blotters consist of those 5 years old and losses of >10% per day. What was that? You "rarely" have a losing day, is that correct? WTF are your blotters? WTF are the calls? If DBP isn't full of shit then prove it. Otherwise cut the shit with the 10 threads on the same topic. I've been on this site since 2002. I don't take kindly to spending my time here during the trading day with a pile of serial losers and degens who are defrauding newbs or outright loons (NoDoji never has a losing day). My record is for all to see and I've posted more trades than anyone on this site. I posted a thread when I took out Oanda's options due to their model error. Same goes when I blew out Trinitas Capital. If anyone thinks I haven't given enough to ET then let them be heard. I expect better than a bunch of fraudsters and sim-traders.
This is a good place to start. Click on the link to download the PDF for SLA and AMT. Yes, it is manual, and once you learn how to do it, you can see that doing this on a chart in hindsight could be just as good as in real time, although everything in real time does tend to look different. As long as you stick to the rules though, there is no reason why a real time chart cannot look quite similar to how you would draw a hindsight chart., hence, why when you are trading in real time you cannot do as well as trading the chart in hindsight. http://www.elitetrader.com/vb/showpost.php?p=3959842&postcount=532