looking for a trading firm

Discussion in 'Prop Firms' started by erichamm, Sep 20, 2005.

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  1. Those kind of returns are materially impossible on futures, I have to guess you are talking of percentage return on margin employed for your trades.
    And if so, it also would be quite extraordinary.
     
    #11     Sep 21, 2005
  2. erichamm

    erichamm

    How is it impossible. 32K off of 5,600 isn't impossible.
     
    #12     Sep 21, 2005
  3. 32k from 5.6k? On total capital? In six months? on futures?

    No comment.
     
    #13     Sep 21, 2005
  4. erichamm

    erichamm

    When I first started trading my dumb ass broker talked me into trading options. He didn't even give me a heads up about deltas. I lost all of my money (6 grand). I then educated myself. Learned Elliott, wilder, bollinger, little bit of Gann.

    When I started trading for the second time. I started with $5,600 I would place the stop about $500-$1000 out. I would usually always look for the second wave of the A or C wave. I can write off that $6,000 loss against my gain. I have to talk to my accountant.

    Now that I have a bank of 32k. I'm going to start using options to hedge with and no longer use a stop. The reason why I like to hedge with them is because they are a tax write off.
     
    #14     Sep 21, 2005
  5. Maverick74

    Maverick74

    You used a stop that was 20% of your account? Oh Lord.
     
    #15     Sep 21, 2005
  6. If he is telling truth, turning 5k to 36k in 6 months, and
    his trades are all intraday (not swing trades), then it's
    long enough to validate for a proven strategy.

    It's not hard to find capital to trade, but very small amount only.
    Firms do this because they can put on extra larger trades
    in their house accounts following his trades.

    But again i'm not sure , and i don't believe what he says.
     
    #16     Sep 21, 2005
  7. You are one of the rare individuals capable of profiting from Elliot Wave Theory.
    You must have stolen some chemical x from the powerpuffgirls Townsville house.
     
    #17     Sep 21, 2005
  8. Maverick74

    Maverick74

    Six months a strategy does not make.
     
    #18     Sep 21, 2005
  9. erichamm

    erichamm

    You've got to be kidding me I think Elliott wave is great. I would use a stop 10-20% of my capital anything less I feel I would get stopped out to often. You see if you place the trade after the the second wave of the A or C wave, this is the safest time to sell or at least that's what Gann preached and he's right. This way your going with the downward trend. If your only trading with $5,600 I feel you have to take some chances in hopes of building your account.
     
    #19     Sep 21, 2005
  10. What a joke! Spoken like a true bullshitter. You pobably read a couple of books on that crap in the last 6 mos. and now you think you can scam some prop shop into handing you their dough?

    If you were truthful and any good, you'd be (continue) putting your money on the line.

    Yeah, keep dreaming.


     
    #20     Sep 21, 2005
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