A person who puts someone on ignore and then tries to address them in the third person is about as pathetic as it gets. I suppose you think you can say things then and not have to worry about anyone questioning your sanity. My style of terminating others will be to tell them they are on ignore and to request that they put me on ignore." Soon, you will only be talking to yourself, then.
Jack steps it up in the progression of syntax!!!! Your emotions give you away on days like this jackie!!! Now that I have seen your picture I realized our paths have crossed, I will be gentle, like your MAMA!!!! Jack is an NLP practitioner and and a very gifted storyteller!!!!
Maybe this was already suggested ... Have your friend set up a system for himself. Have him start with 1 contract trade it until he reaches X then go to 2 contracts. If $ drops back to a certain amount - reduce to 1 contract again ... Set goals for 1 2 3 4 5 contracts etc ... and set 'punishment' goals if profit falls below or there is a loss of X amount. Simple enough but will be hard to have the discipline to stick with it if hes itching to play the game and make that much money. I do agree thou that 10 tracts of ES with 30k is pushing the margin levels to the extreme. One big goof and you lose alot of $ if he cant make it with one tract he cant make it with 10,000 (although commisions might be better with 10,000 <g>)
Your freind actually sounds experienced in the markets already. As such he will have a good and steep learning curve he will adapt to easily.. He seems to have a good temprament for the markets.. as such I believe he can be profitable and hit his target.. why?.. because everyone here is looking at this guy through the prism of thier own expereinces and actually none of us know him or his abilities. As such let me tell you thier are many many people who have a $30K account and repeatedly extract a living of the magnitude you have referred to. All he needs to do is find one specific focus, maximise his control of that and trade away without emotions and bang... Do not let others experiences cloud judgment.. the markets are an intensely personal thing in that we choose which particular way to trade that suits our style.. it is dangerous to seek generalizations because everyone is so absolutely unique... Of course he can reach his target.. but Im sure he is astute enough to know he may go through a period of flat-lining or even losing for a while.. thats where his initial concentration should be... minimizing loss of course.... are you sure your "friend" isnt actually you? Paul
What is implied when recommending fixed risk/reward ratios is that you always trade with stops. But depending on a system's trade profile stops can be unacceptably detrimental to overall performance, ie. you'd be significantly better off taking the hit on outlier trades than placing stops (perhaps maintaining a disaster stop to limit risk on "outlier" outlier days. In reality a more flexible exit strategy is called for, though alot harder to implement. Of course, all this assumes a robust system and associated position sizing strategy.
WHO THE F@;/ DO YOU THINK YOU ARE? MISSED THE WARNING SIGNS? THIS DUDE NEEDS ENCOURAGEMENT TO LEARN THATS WHAT THE RAH RAH IS ABOUT OR ARE YOU SAYING HE IS FINISHED.. WHERE ARE YOU GOING WITH THIS? WHAT IS YOUR CONTRIBUTION HERE EXACTLY.. DO WE REALLY WANT THIS TYPE OF ATTACK AND WASTEFUL COMMENT THAT SERVES TO DO WHAT? TELL EVERYONE YOU KNOW HOW IT IS? COME AGAIN RCANFEL YOU SAID YOU DOUBT I AM EARNING XYZ.. WHY HAVE YOU BROUGHT ME INTO THIS? THERE ARE MANY PEOPLE WHO MAKE MONEY FROM THE MARKETS, NOT FEW YOU STUPID IDIOT.. NEARLY EVERYONE IS ABLE TO EXTRACT THOUDSANDS OF POUNDS FROM THE UTTERLY LIQUID MASSIVE MARKETS... THIS IS A FACT FEW PEOPLE MAKE MONEY? REALLY? NO.. MANY PEOPLE MAKE MONEY WHAT MATTERS IS THE RELATIVE PROPORTION OF WINS TO LOSSES YOU DOOFUS AND THAT IS WHAT YOU HAVE NOT GRASPED WITH YOUR BANAL AND MISPLACED CONDESCENSION. HERE WE GO AGAIN.. THE SAME SILLY REPLIES FROM A DOOFUS WHO CHOOSES TO SHOOT DOWN THE OPINION OF OTHERS WITHOUT CLARIFICATION, CLASS OR RESTRAINT IN THE KNOWLEDGE THAT ANYONE ELSE ACTUALLY MAY HAVE A POINT OF NOTE. ALL THIS FROM A GUY WHO HAS THE AUDACITY TO: 1.REPEATEDLY CONDEMN A PERSON OFFERING A SERVICE AND YET VOCIFEROUSLY FOLLOW AND ANALYSE THAT SAME PERSONS DAILY CALLS..WHAT AN OXYMORONIC THING TO DO 2. FROM A PERSON WHO ATTACKS WITHOUT MERIT OR CLARITY OF THOUGHT, WHO SHOOTS FROM THE HIP AND DISPLAYS UNFOUNDED ARROGANCE WITH PEOPLE SEEMINGLY HUMBLE DIRECT AND HONEST..AND ALL WITHOUT ACTUALLY ADDING ANYTHING OF VALUE.. IAM STRUGGLING TO FIND ANY ENCOURAGEMENT IN ANY OF YOUR POSTS YOU VITRIOLIC SELF ABSORBED NUMPTY RED NECK WITH A CHIP ON HIS SHOULDERS 3. ALL THIS FROM SOMEONE WHO HAS ARGUED WITH PASSION THAT TECHNICAL ANALYSIS DOESNT WORK.. & YOU STILL WANT US TO TAKE YOU SERIOUSLY? YOU THINK YOUR COMMENT HAS VALUE? OHH REALLY?... COME AGAIN.. 4. WE HAVE COME TO DISCOVER THAT YOU ABOUT THESE BOARDS TRYING TO ACTUALLY SELL SOMETHING OR PROMOTE SOMETHING YOURSELF..THAT EXPLAINS A LOT ABOUT YOU AND YOUR MOTIVES AND YET AGAIN YOU COME HERE AND MISS THE POINT WITH YOUR OVERTLY BASIC INTERPRETATION OF MY WORDS SEEKING PERSONAL LEVERAGE AND MISSING THE POINT OF THESE BOARDS WHICH IS UNDERSTANDING AND BALANCED CONTRIBUTION NOT BROW BEATING, BELLY ACHING AND SELF PROMOTION PEOPLE ARE SICK OF YOUR ATTTITUDE, YOUR A JERK, LOOK AT YOURSELF.. GO ON THEN LETS HEAR YOUR SILLY REPOST.. YOUR SELF AGGRANDIZING ONE LINER.. GIVE US YOUR BEST QUOTES OF PLAGARISED WORD OF WISDOM WE ALL KNOW IS USED TO ELEVATE YOUR OWN FEELINGS OF SELF IMPORTANCE NOT TO PROVIDE AN AID FOR ANYONE OR INDEED THIS GUY WHO HAS COME HEAR LOOKING FOR HELP AND UNDERSTANDING.. YOUR BORE US TO DEATH
Why does everyone assume it's the OP and not a "friend"? I can vouch for the OP and guarantee he has no qualms about asking questions for himself. Also why would he ask for himself and then repeatedly say basically that he thinks his friends strat is not all that sound leverage wise? The OP to my knowledge has never even traded futures and does well with stocks exclusively. PS. I think everyone saying it's not possible either has a poor strat trading off emotion and no setups or just like to discourage people and perpetrate fear. 30K to be reasonable to me should trade maybe 3 contracts. I'm a noob to futures as the OP knows, but in my experience the ES will rape your friend more than likely. I'd start with the YM as it's less per tick and though it has less liquidity would easily support his equity levels with less slippage. If he dives in on 5+ contracts on the ES he will probably suffer a HUGE drawdown. He should paper trade his strat on a Ninja demo or OEC as they seem to account for FIFO (first in first out) fairly well. It's not a totally legit paper fill but I think it's close enough. And I think with a winning set of setups and emotion control his target is VERY reasonable. Naysayers will say that I'm clouded or nuts to say this since I haven't done it. My response is NOT YET. Now realize I don't think one can just start with $30k and grow equity and "take over the markets". As long as you remove your gains/salary and exercise correct position sizing it's pretty safe. (For the record I've only been in the market 11 months. 9 of which was swing trading stocks and the last 2 being papertrading the YM to perfect my strat. On paper I'm profitable but still have some kinks to work out till I go live. Once I stopped hearing all the "you need 2 million to make it" bull$hit I've been doing even better )
Now this is what I mean about replies.. its a great contribution, valid points, no personal attacks and fun and interesting to read... thats how it should be thank you mcichocki I agree with just about all the sentiment in your answer.. I too trade the ES and use between 1 and 4 contracts max at a time. I have come to enjoy one particular type of play and set up that uses MACD crosses on mainly shorts.. I got rid of all the other impulse trades and market chasing trades and BANG.. Ive stopped loosing wads of money !!!!!! Its a tough bitter road but necessary.. and anyone who denies that is living a fantasy IMO. Also I agree about the money issue. It is utter nonsense to buy into the camp that says you need 100K to make it. If you cant demonstrate discipline and trade only your specific plan with $6000 or enough for two contracts but trading one contract at a time.. you aint gonna do with $100K.. no way great post thank you for your balanced contribution.. Paul
Quote from Paulds11: WHO THE F@;/ oops, attack/bad word!! DO YOU THINK YOU ARE? MISSED THE WARNING SIGNS? THIS DUDE NEEDS ENCOURAGEMENT TO LEARN THATS WHAT THE RAH RAH IS ABOUT OR ARE YOU SAYING HE IS FINISHED.. Read the last post again. If he trades like this, he will face Risk of Ruin. Do you know what this is? WHERE ARE YOU GOING WITH THIS? WHAT IS YOUR CONTRIBUTION HERE EXACTLY.. DO WE REALLY WANT THIS TYPE OF ATTACK AND WASTEFUL COMMENT THAT SERVES TO DO WHAT? TELL EVERYONE YOU KNOW HOW IT IS? COME AGAIN RCANFEL Read the last post again. If he trades like this, he will face Risk of Ruin. Do you know what this is? YOU SAID YOU DOUBT I AM EARNING XYZ.. WHY HAVE YOU BROUGHT ME INTO THIS? THERE ARE MANY PEOPLE WHO MAKE MONEY FROM THE MARKETS, NOT FEW YOU STUPID oops, attack/bad word!! IDIOT oops, attack/bad word!!.. NEARLY EVERYONE IS ABLE TO EXTRACT THOUDSANDS OF POUNDS FROM THE UTTERLY LIQUID MASSIVE MARKETS... THIS IS A FACT Are you sure you have ever traded before??? FEW PEOPLE MAKE MONEY? REALLY? NO.. MANY PEOPLE MAKE MONEY Well, at least you dropped it from "Many Many" WHAT MATTERS IS THE RELATIVE PROPORTION OF WINS TO LOSSES YOU DOOFUS oops, attack/bad word!! AND THAT IS WHAT YOU HAVE NOT GRASPED WITH YOUR BANAL oops, attack/bad word!! AND MISPLACED CONDESCENSION. Proportion of Wins to losses? I hope you don't mean win percentage. We know how meangingless that is. Don'y you? lol HERE WE GO AGAIN.. THE SAME SILLY REPLIES You have no idea how uneducated you come across as FROM A DOOFUS oops, attack/bad word!! WHO CHOOSES TO SHOOT DOWN THE OPINION OF OTHERS WITHOUT CLARIFICATION, CLASS OR RESTRAINT IN THE KNOWLEDGE THAT ANYONE ELSE ACTUALLY MAY HAVE A POINT OF NOTE. ALL THIS FROM A GUY WHO HAS THE AUDACITY TO: You have no idea how uneducated you come across as 1.REPEATEDLY CONDEMN A PERSON OFFERING A SERVICE AND YET VOCIFEROUSLY FOLLOW AND ANALYSE THAT SAME PERSONS DAILY CALLS..WHAT AN OXYMORONIC THING TO DO We are back to Oscar again. You just love to defend him. That you are Oscar or shill for him is strongly obvious 2. FROM A PERSON WHO ATTACKS WITHOUT MERIT OR CLARITY OF THOUGHT, WHO SHOOTS FROM THE HIP AND DISPLAYS UNFOUNDED ARROGANCE WITH PEOPLE SEEMINGLY HUMBLE DIRECT AND HONEST..AND ALL WITHOUT ACTUALLY ADDING ANYTHING OF VALUE.. An excellent summarization of almost everything you say IAM STRUGGLING TO FIND ANY ENCOURAGEMENT IN ANY OF YOUR POSTS YOU VITRIOLIC SELF ABSORBED oops, attack/bad word!! NUMPTY RED NECK oops, attack/bad word!! WITH A CHIP ON HIS SHOULDERS 3. ALL THIS FROM SOMEONE WHO HAS ARGUED WITH PASSION THAT TECHNICAL ANALYSIS DOESNT WORK.. & YOU STILL WANT US TO TAKE YOU SERIOUSLY? YOU THINK YOUR COMMENT HAS VALUE? OHH REALLY?... COME AGAIN.. Great that you support TA. Offer counter-evidence 4. WE HAVE COME TO DISCOVER THAT YOU ABOUT THESE BOARDS TRYING TO ACTUALLY SELL SOMETHING OR PROMOTE SOMETHING YOURSELF..THAT EXPLAINS A LOT ABOUT YOU AND YOUR MOTIVES I think this is what Trader0062 said before. That you are him or an Oscar employee is strongly obvious AND YET AGAIN YOU COME HERE AND MISS THE POINT WITH YOUR OVERTLY BASIC INTERPRETATION OF MY WORDS SEEKING PERSONAL LEVERAGE AND MISSING THE POINT OF THESE BOARDS WHICH IS UNDERSTANDING AND BALANCED CONTRIBUTION NOT BROW BEATING, BELLY ACHING AND SELF PROMOTION You encourage someone to jump in front of a train. I caution them to think before acting. No matter how you slice it, it is believed most people lose their trading capital. Promoting 300% annually as quite doable, is a foolhardy thing PEOPLE ARE SICK OF YOUR ATTTITUDE, YOUR A JERK, oops, attack/bad word!! LOOK AT YOURSELF.. GO ON THEN LETS HEAR YOUR SILLY oops, attack/bad word!! REPOST.. YOUR SELF AGGRANDIZING oops, attack/bad word!! ONE LINER.. GIVE US YOUR BEST QUOTES OF PLAGARISED oops, attack/bad word!! WORD OF WISDOM WE ALL KNOW IS USED TO ELEVATE YOUR OWN FEELINGS OF SELF IMPORTANCE NOT TO PROVIDE AN AID FOR ANYONE OR INDEED THIS GUY WHO HAS COME HEAR LOOKING FOR HELP AND UNDERSTANDING.. YOUR BORE US TO DEATH *sigh.* I wish you read your own words. You write like words just jump into your head and you put them down.