In all seriousness and putting the insults aside. You have determination, grit, and the focus of a bull in a charge. Those are all good attributes. Now you have to add A LOT of education, practice and "good" discipline so that you can "leverage" your good qualities into a sucessful trading career. Otherwise your bad qualities of having a gamblers mentality, being focused on the money, not the method and general complete and total ignorance of what constitutes a tradeable market and/or a tradeable methodology will pretty assure that "your career" as you call it, is most definitely over. (man, I hope you listen to at least half of this thread, goddman you're spoild, if I had any of this advice, I most definitely would've taken it, instead of having to sit down and figure it all out the hard way, but at least i made the steps ...) Best, Jimmy
Nice backpedalling job there. Oh, I get it. I get that you are a hard headed know it all that wont listen to anyone who actually knows what they are doing. Please move your trading to equities. We need more dumb money playing in that space I want a piece of what little money you have left.
Imagine a kid who wants to play pro football. He just graduated college and his dream is to be a pro football player. He shows up to a pro football camp and tells them he wants to be a player more than anything in the world, and they should let him start practicing. He has never played football in his life. As a gag, the coach lets him start to play with the real players. He gets instantly smashed to pieces and is carried out on a stretcher and goes to the hospital. 2 months later he shows up again. I WANT TO BE A PRO FOOTBALL PLAYER! Let me play. The coach rolls his eyes and puts him in. He gets smashed to pieces again, carried out on a stretcher and sent to the ICU. 3 months later, and 2 surgeries, he comes back with the same story. The coach admires his determination and grit, but tells him, he has no business playing with these guys. He should go learn to play football first, lift some weights and get bigger and stronger, study the game. Go play in a fun league somewhere to warm up and work on his basic skills. Maybe go back to college and try to get on a college team. "Phhhttttt!!!! Im a pro football player coach!!! You dont know what your talking about! I went out there on that field twice and played didnt I??? That makes me a football player!!!! Whaaaa!!!!!" The coaches eyes glaze over as he realizes he has a psychopath on his hands that wont listen to basic common sense. He wants to get rid of him as soon as possible so he puts him on the field. The kid gets smashed to pieces again, and is out of the coaches hair for another 6 months Sound familiar??
From: "Richard L" tyrantrich@yahoo.com Date: Mon May 8, 2006 7:42am(PDT) Subject: Trading Quotes - Linda Raschke, Seykota, Schwartz It never bothered me to lose, because I always knew that I would make it right back. Linda Bradford Raschke If I am bullish, I neither buy on reaction, nor wait for strength; I am already in. I turn bullish at the instant my buy stop is hit, and stay bullish until my sell stop is hit. Being bullish and not being long is illogical. Ed Seykota The best way to end a losing streak is to cut your losses and divorce your ego from the game. I learned this lesson many years ago at the crap tables in Vegas. The old cliche says "never send good money after bad", and it's true. You have to manage your resources and not lose too much of your stake. Many people, when they're losing, increase their bets; they double up hoping to win it all back on one roll of the dice. That strategy can be devastating. The best way to stop a losing streak is to STOP! STOP THE LOSSES, STOP THE BLEEDING. Take time off and let your intellect take charge of your emotions; the market will be there when you return. Martin Schwartz, Pit Bull you can find Richard's blog here http://tradingquotes.blogspot.com/
Usually on real prop desk, the risk management staff decides how big u are able to trade so ur judgement in terms of that wouldnt be relevant...I have never been a hiring manager or run a prop desk, but have been on a fairly well established inst. prop desk and have had close business relationships with risk staff...and i think they would see you as being talented but green and lacking guidance....just m2c...
He has not shown any talent at all. His wild retruns are easily explainable by a random coin flip. This image shows 10 equity curves generated by flipping a coin. Notice the top line has a 57% return on 453 coin flips (bars). Now look at his returns. Started with 30K Made 10% in the first month Made up to 6.7% in month two, and then plunged, and lost $20,000 in a week. Then he went from 10k to 14K = 40% gain Then lost 100% in two weeks This is wild coin flipping. He has no system at all, no edge, and his wild swings are easily explainable by pure market randomness. The fact that he blew out so quickly could be evidence of a negative edge though. This is a great tool for understanding randomness. http://www.hquotes.com/tradehard/simulator.html Plug in your win% rate and profit factors and graph 100 EQ curves to see what kind of drawdown is possible for your system.
My systems are in the 60% win, profit factor 2.0+ space. Here is 100 EQ curves with those numbers plugged in. This is what real good trading system can do.