Discussion in 'Journals' started by johnnyrock, Jul 20, 2017.
Long micro gold for a swing trade
Short NQ - day trade
Scratched $40 gain. New balance $4610
Sold $110 gain. New balance 4720
Reading your posts, I see why day trading is hard work. Takes skills, persistence and perhaps a pinch of luck.
You are one of the good guys. Wish you the best.
Quoting @birzos from another thread:
Simply because your capital does not produce a positive return on effort without decades of experience behind you. The average is skewed to the top, that's synthetic asset classes at work.
=top1% break even
top1% 1-2% per month
top0.1% 3-5% per month
top0.01% 7-10% per month
top0.001% 15-20% per month
The top 0.001% who generate those returns consistently over 15-20yearsstarting with $1,000 capital will become a billionaire, there are currently 2,500or so who have succeeded.
This is the same trading:impossible nonsense in disguise.
Start with $1000
NEVER have losing days, weeks, or at most a losing month (positive return figures in the example are monthly)
DO NOT CONSIDER the nominal account value. It's all-in, all the time.
When account reaches $900,000,000 it's game over with a nominal $100,000,000 11.11% return that month. Wow! That's not even in the top 0.001%! Congratulations! Clearly, you stop there, because it is foolish to think about a $150,000,000 or $200,000,000 nominal return the next month.
Everybody thinks SHORT-TERM "trading" scales to the billions and trillions. It doesn't. Go put on a 10M dollar trade, with a hold period no longer than a calendar month, and see how you fare. Scale it baby!!
Lifted from the web:
The table shows the probabilities of seeing anywhere from two to 11 consecutive losing trades during the 50-trade cycle, based on the corresponding percentage win rate.
The table can help you determine the probability
When questoned by the police, these two ETers stated, "We're just tryin' to HELP clean up the city. That's all man!"
Witnesses report they were overheard, reassuring one another, "At $500 margin we could have traded 4 cars with a $500 cushion." A spokesperson for the JAX SO stated they were still attempting to decode the message, but they believe they may be tied to an auto theft ring, and the $2500 aluminum windfall could have been used to purchase 4 "cars."
I am not endorsing his course, but I will eventually BUY his book (listed in the review).
Trend trades one contract across multiple markets WITHOUT incurring overnight risk!
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