Hello EliteTrader, I have been a long time user and contributor and am writing this under the alias, DayStructure. I hope this story inspires hope among the trader community, especially those who face the challenge of being properly capitalized to trade. This story should also resonate among those who do this for a living and are personally responsible for themselves and their loved ones. All of this is occurring right now as I write this. My motivation in doing so is to create a history log that I can look back on and enjoy with my loved ones -- and you! Here's the situation: I am relatively young, 27 years-old, good-looking, intelligent, and have been actively trading for 10 years. I have had my successes where I whimsically blew away more than $400,000 in cash in a single year (I have bank statements to prove this, too). I have also had losses where I blew away more than a million dollars of net worth in a single month. I'm experienced with the emotional roller-coaster of trading and would like to take all readers for a ride. At this moment I have less than $1.00 in my bank account, $0.00 in my $400.00 Gucci wallet and $2.00 in my $200 Mont Blanc wallet. In my car, a $70,000 hard-top convertible that I bought in cash, rests about $3.00 in quarters. In my trading account, I have enough capital to trade 6 S&P 500 contracts. This is exactly what I'm going to do, trade 6 E-mini S&P 500 contracts and build my trading business into one that can provide me a comfortable ($400,000+/year) living. Here's the plan: I have a very well-defined trading plan. To achieve success, I am using a combination of market profile, trendlines, indicators that I have personally developed (I have a programming and statistics background), and my experience. The platform of choice is Tradestation. The execution platform is Ninjatrader. I used to get excellent commission rates, but am now paying $3.10 per round-turn. This will change as I increase my contract size and re-apply for the ECM membership. +3.00 E-mini S&P 500 points per day per contract throughout the life of this posting. My average trade reward is 1.00 point to 2.00 points. My average trade risk is less than 1.25 points. I am personally satisfied if my trading yields a net of 40.00 points per contract per month. In the month of December, which in my mind starts tomorrow (November 30th), I will begin. If I am successful at returning +3.00 points everyday, then I will have produced $19,800 before commissions in the month of December. If I am satisfactorily successful then I will produce $12,000 before commissions. When I reach +40.00 points, then I will increase my trading size to 10 contracts for January. When I reach +40.00 points on 10 contracts, then I will increase my trading size to 15 contracts. When I reach +40.00 points on 15 contracts, then I will increase my trading size to 20 contracts. When I reach 20 contracts, then this posting will cease to exist and I will personally host a dinner party at Mastro's in Beverly Hills for anyone who participated. I will keep you updated as frequently as possible. I hope you will join, read, comment, and enjoy this real-time, real-life journey with me. Best, DayStructure
Being that reckless with your money shows the exact opposite of intelligence. If you are as crazy with your trading as with your lifestyle, you will only get your money back based on pure luck. I read a book many years ago (I think it was called "Fooled by randomness") where the author speaks about a trader who lived it up with the big house, fancy car, ect, but ended up blowing it all away. You remind me of that trader.
Yes, as I'm sure most traders will agree, the importance of being good-looking in this field cannot be overemphasized. Thanks for sharing.
OK...I 'll be the mug....what is your initial capital to be employed... And we are talking about a real time, real money brokerage account....right?
1) Are you divorced too? 2) Sell the car and beef-up your account. Wait. You live in Beverly Hills. Never mind. 3) Increase your position size, arithmetically, one contract at a time up to 10 contracts. Then do two contract increments, at a time, up to twenty contracts. Avoid geometric, doubling, increases. 4) What's Mastro's? It's probably a good thing you're not doing this in Chicago.