Zones, boy I really got under your skin. Yes, I am confident and I expect to win, this isn't my first time at this rodeo. I've done this stunt about a dozen times, and won 8 of them. As to the other 4, I still reached my goal, but not in the time frame. Hang on and pay attention, you won't be needing any more handout from pops if you have an open mind.
You really miss the point sick. I could give two shits less if you made $5000 in the next two weeks, because your drawdown will be obscene. Trading is not gambling because it has positive expectancy, but what you're proposing is akin to gambling because your leverage factor exceeds 10:1. A 1% loss will wipe out your account. You are essentially saying you'll never have a 1% loss on your trades. If you have a 2 point stop right now we are talking about a 0.2% loss on the trade at 10 to 1. You'd lose $100 or 10% of your capital. That's actually 50 to 1 leverage, so I don't really care what specific method you are talking about, you've failed the money management criteria right off with the starting capital of $1000. Since you are probably uneducated, I'll explain how that's calculated. You are starting with $1000. You say you're going to risk 2 points on ES or $50 per point. Your stop loss is then $100. On ES, this is about 2/1000 or about 0.2%. The loss on your account is 10%. Divide 10% into 0.2% and we arrive at your instant blowup leverage factor of 50:1. which is 0.1/0.002. I'm not a know it all, but someone that knows what he's talking about. You can stop yourself here before you lose your life savings in the market. Also, sick, no advisor could ever endorse the amount of leverage you are talking about. What I just calculated is part of the CFA Curriculum, and being through Level II now, you should reconsider whether you'd like to listen to a credible financial professional before you lose all your money. Good luck. I hope you understand I'm only saying this to help you learn how to trade, because this is probably where most systems start with money management. That's fine, but you're too undercapitalized to trade anything, especially futures. It would last a lot longer if you tried trading SPY for awhile.
Well, I think I might be of great assistance, let's take a look... 1. Appears to be gambling with a title of trading 2. Way over leveraged 3. Too many stops will blow out your account There is a site I highly recommend that should be able to help you achieve your goal in half of the 65 days you need. www.puretick.com Enjoy! By the way no need to thank me I just love helping fellow "traders"
To all the people that think sick will fail here's an idea: STOP READING. Why are u wasting ur time? Only explanation is: you have failed and enjoy watching other people fail. Go read someone elses journal.
lmao did you heard about hi frequency trading or scalping? your calculations are totally off base on these fields. your self-aggrandizing pseudo-intellectual knowledge is completely irrelevant and doesn't show anything but utter ignorance about the topic. everyone knows what leverage is about it or how is calculated. if you were serious you would throw the vola adjusted leverage into the equation to make your assertion more realistic. are you really a different person than the OP or just an alias that stirs the controversy with non sense annoying posts here and there in order to keep the thread on the front page?? just curious. actually i prefer the pissing monkeys
Versions I and II of this thread were the funniest on ET in a while - best use of smileys since nolan-vinny's chit-chat masterpieces years ago.
Because this little man is obviously starved for attention. And yeah, half the posts honking him on his journey have to be him. No one would support such a zero substance thread. Go get 'em sick, your soooo awesome!
The dissenters have made their point and all they need to do is ignore the thread completely yet they keep returning to post. Why? Hmmmm..