Your own reasons? Ignorance? Face-facts. You blew out a demo account and don't know the difference between Euro and American exercise. You trade an absurd hedging strategy guaranteed to do nothing but accumulate losses. Barring any new development in your never-ending diarrhea; why are you still here?
Somebody asks me to post live trades. I tell them there is no way I can do that but I can post trade results for the week, if I had time. You then ask me why am I posting trade results for the week. Think about it. Let it sink in just a bit. Which is exact what has already been claimed. Furthermore, why would anyone post business related financial documents in full public view - just because somebody asked for it. That makes no sense to me. Maybe it is something that you would do, but not me. You are not getting it, I'm afraid. Eliciting belief, is not why I posted a personal story in the first place. If somebody asks me to later post some "proof," then it is up to me to decide if I want to do it, then decide how best to do it without giving away too much. The belief that others have, has never entered the equation in my mind - it does not pay my bills - my system takes care of that quite well. Likewise. Actually, I'm not "arguing" anything that I "need" to win, unlike what others seem to be doing, here. I find many of the replies rather amusing and have already stated as much. Walk away? From what? There is no "there" here on ET, apparently. I agree, it was a mistake to think that many here had the capacity to appreciate hard work and the results from such hard work. A simple story of personal success gets a thread closed and ego's bruised? That makes no sense - must have struck a nerve somewhere and I find it very amusing!
Your facts about things you know nothing about. You threw up a red herring about Options after taking my post out of context. You are the one who does not know the difference between White Label and Application Service Provider Model. You are the one who fakes being a real trader in the currency markets, because if you were and you did start from scratch, then you would have blown out more demo accounts than you have fingers AND toes on both hands and feet. And, yet, you are still here trying to write a Covered Call for your flat out error and ignorance. Keep selling those Calls. Eventually, you will be exercised right out of the business.
You sorta lost me me at hello there, Mr Bugatti... You've exhausted the benefit of doubt by being so monumentally defensive. I have absolutely no idea what you said or did not say before. So here's what I say to you: 1) Profitability on paper is a condition that is necessary, but not sufficient to make a decision regarding the actual profitability of a strategy. You've got the 'necessary' bit, but somehow you're forgetting the "not sufficient". 2) Again, a single trade does not a strategy make. Neither does it actually prove anything. Furthermore, your motivation doesn't make sense to me, like to others here. I also don't understand why you're so defensive and can't take advice in the spirit it was given, i.e. as constructive criticism. At any rate, best of luck to you! This concludes my communication with you, Mr Bugatti.
Nothing was taken out of context. Look at the attachment. You can't possibly trade a product for which you have so little knowledge. You proceeded to use a $5341 demo gain as some proof of your prowess, yet denounced a $41,000 loss in the same account as testing. I don't believe you're attempting to vend a product... I think you're simply attempting to reinforce your delusional behavior that resulted in your loss of 82%. The World needs ditch-diggers too. Keep your chin-up. And yes, you CAN offset a Euro-style option prior to expiration, you simply can't exercise. Truly beyond belief that you could fuck that sideways. Enjoy your fantasy. I'll leave you here.
This is the point where you get run off ET looking like a fool, off to change your screen name. There are a handful of high quality traders on ET and they all have one thing in common -- they don't talk about their victories or results. Watching their account grow is enough. We've all been through the stage you are going through. Right about now you're at that, "ah-ha! I've proven it can be done" stage. If you go off and turn actual profits on your system you'll be back to talk loudly and clearly about your new found success. It will all quickly end and then it will be time for you to regroup. You'll either adapt or you won't. Either way you'll acquire a great deal of humility and no longer will you find the need to come on ET and boast. The best traders really don't say much about their trading at all. That is truly the common thread among successful traders! That being said however, it doesn't hurt to let you know that <b>I</b> am the1. Ha, ha, nothing wrong with a little ego. Just a little bit though or it'll hurt your trading
Really. Well, maybe that is because none of them have have reached the virtually risk-less trade level, maybe? Just maybe, if someone had, they might want to share it with the world - the accomplishment - not the actual details behind how it is done. To the contrary, I know of some very serious and very gracious traders in this business, who spent small amounts of time on online forums, helping a handful of people at any one time. And, they talk about how they became successful as traders all the time. Some people feel comfortable talking about the details of what they do, while others (most others) do not. Posting an anonymous success story, is in no way a calling card for one seeking worship. If you had found a cure for cancer, short of wanting the Nobel Prize for having done so, would you keep the story to yourself. Of course, not. Well, as far as I am concerned, I've discovered the cure for losing capital (with the one caveat that I mentioned before still in play). But, that's only half the story. You see, what I did not tell in my first story, was the fact that I am putting the finishing touches on a non-directional system for Day Trading. Right now, I get results in about 3-12 days - on average, about 1 week. That's why I swing trade. But, what I'm working on right now will reduce that time down to a single 24 hour trading session. This week, I spent time in 2006, verifying the data. I'll go back as far as 1999 and then work my way forward again to 2009, so the data verification process takes a lot of time the way I do things. Once I get final confirmation that the returns/results are in-line with expectations, I'll post another success story so that thread can get closed, too. Surprise! Sounds, good! I had no idea that you had found a way to trade in either direction and turn a profit about 99% of the time. Why did you not simply say so! Congratulations - not many people figure out how to accomplish that task, so I want to take this opportunity to say way to go! I know it took a tremendous amount of hard work, patience, persistence, commitment and courage to do what you have done. Most people in this business will only dream about it, but never be willing to pay the price for securing that level of confidence and success as a trader - so again, Kudos to YOU! 99% - it sure does feel good having that much confidence, does it not! Yes, correct. That: Aha! 99% of the time I won't lose money on this trade stage. Absolutely! And, it feels awesome as you already know, because you have passed through this place where I am right now! Sorry, I did not intend to mislead. I'm already turning profits with my work and at an alarming rate. If you recall, I said a couple of times already that sooner, rather than later, I will exceed the maximum single trade size limitation that my bank offers through its platform and will need to make the move to an institutional platform, or be stuck with the very unlikely prospect of clicking multiple blocks of maximum size positions into the market artificially. So, I'm already well on my way to taking out some of the financial goals that I set-up some time ago. That's what happens to directional traders who don't have the luxury of either: a) Trading with a very high probability system, or b) Being able to trade non-directionally. When you can move in either direction and hit your target, or still net a positive trade, or at the very least, break-even about 99% of the time (with one rare exception), then Game Over. Trading is no longer a question of IF I will hit my financial targets, but WHEN. I've already been down the road of having to "re-group" MANY times before, not just once - but MANY times. That's part of the pain and suffering that you MUST pay to be truly "elite" in this business. Been there, done that - ain't going back. That's precisely why I say, struck a nerve. You can't point to a single shred of evidence in my personal story, that even remotely comes close to boasting - not a single shred. In fact, what the heck do you call that thanks I throughout to my Wife for putting up with six (6) years of my not going back to corporate America, if not total humility. The problem with ET, is that NOBODY reads a DAMN thing. You just put on your "he can't be right" blinders and start running yourselves into brick wall after brick wall. The ONLY fire you've seen come from me, is AFTER the personal insults and personal attacks began. And, for what? What the hell is anyone doing personally attacking someone merely telling a one-off story of success? That's was lame, dumb, stupid and it DID trigger my literary wrath, which you feel right now. I never stepped on anyone, first - her at "elite" trader. So, please, by all means, at least get that part of your story down pat. I am the respondent, here. Not so in MANY cases that I know of personally, number one. And, number two, I've made it clear that one trader's idea of success in this business, is another trader's idea of total mediocrity and/or failure. First, when you talk about trading success, you can't compare apples to oranges, like so many people do in error. Somebody who trades the market every single day, with an extremely high degree of accuracy to target, might consider themselves highly successful. One the other hand, a trader who takes a single swing trade each month with a high degree of target accuracy, might too consider themselves a high successful trader. At the same time, one who trades every day, but can only reach the 70% to 80% accuracy to target level, might just as well consider himself or herself very successful. My definition of success is based upon what my financial needs are and whether or not I have built/designed the vehicle to take me there in a time frame that I consider acceptable to me. The other component of success that I use, is the mathematical error rate to a specified target within a specified time-frame. That is a clear metric that I use along with my financial goals reached in time metric. Both of those measures are what I use to determine whether or not I am successful or not. Anytime you can enter the market, trade in ANY direction, strike your target and lose capital only 1% of the time at most, then by most definitions that I am aware of, you must therefore be a successful trader - but - are you reaching your financial goals on time? That's the REALLY big question. Success in this business is more than a notion or a plain vanilla, generic definition. Success in this business is very personal as well as mathematical. I actually enjoyed your post!
The rest of your post go tuned out. When you start off by telling the one that got rudely attacked personally, merely telling is story of success, then you have started your entire post off on the wrong foot. You may end up well in the rest of your post, but you started it off the wrong way, because no one with an ounce of integrity, would ever consider it "defensive" to merely shoot back when being shot at. I call that "offensive" not defensive - but you can call it what you want. Besides, I'm just having some fun here anyway - relax. Things can go either way with me - literally, LOL!
Since you're not going to post any actual financial results (even if everything relevant to your account was blacked out), how about you answer some questions just for interest's sake: 1. How long have you been trading this system with live money? 2. How much money did you start with? 3. Where were you at after 30 days? 60 days? 90 Days? And how much are you at now? 4. How many trades per day/week/month does this system generate? 5. What % was your greatest drawdown? If you can answer these questions, it will give people a good idea of the type of performance you are actually claiming. No proof of course - I'm just curious to know the numbers since you seem so insistent that this is the greatest thing since sliced bread.