Reading RM's posts from the last pages makes me believe he has a crystal ball. UYG and Oil both went the way he predicted. How about a hook up at a good firm, and you loan me the ball?
Hi Kids! My timing on posting this thread was truly ironic. I had delayed taking this step for months because I was put off by the prospect of having to kiss dozens of frogs before (maybe) finally finding what I'm looking for. Other reasons for my initial hesitation include the long morning & afternoon commute issue, and the inevitable groundless bashing responses to come from ET's fully stocked stable of ever-bitter failed traders. (Stand up and take a bow, Cunt1385. ) So what happens right after I finally post my offer? I hit a sweet-ass winning streak and recoup 83% of my formerly sizeable '08 red hole... Not that I'm complaining, of course. My main problem in trading is that for every crystal clear rock solid edge, 'if I'm wrong about this, I'll blow a horse' type trade, I take literally <b>thousands</b> of other, far less attractive trades. That's how big red holes are made. So for the present moment, with a volatile market and a winning streak to work with, I'll be putting off my position search for a later date. It won't be long before everything dies down again, and I'll then get right back on the task. oraclewizard77: <i>"Why don't you just form your own group of traders and set the rules of the group how you want them to be if you don't want to trade by yourself instead of trying to fit into someone else's structure."</i> ---> Because that's not the path of least resistance. I'd get plenty of new responsibilities and headaches, but neither of the two main things I'm looking for in the first place. (See thread opening post.)
Great post, so true and we all know it ... and every time you think you've found the Golden Goose it proves itself to have feet made of Clay. But no matter what, Keep ya head up.
On second thought, ya know what? Disclosing the answer to the question you're all wondering about is simply the right thing for me to do... especially after repeatedly stating that I don't have anything to hide. My '08 red hole (in all accounts combined) was $800,000 deep at the very worst point. There. Now you know.
Thanks for the very interesting thread RM. Here's my $0.02, for what it's worth: $664,000 x 2 = $1,328,000 10% of $1,328,000 = $132,800 20% of $1,328,000 = $265,600 $132,800 - $265,600 per year = very nice living (for doing what you like). 10%-20% per year shouldn't be that difficult for someone like you, if you refine your system to only take the very best trades like your UYG slam dunk. Don't let this opportunity slip away.
Your financials call was one of the best I've seen! Nice to hear you've mostly clawed back. If you don't mind disclosing, what was the main cause of your losses? Was it just taking lots of marginal trades? Or was there one big loser?
Seeing some of your old p/ls you used to post, I wouldn't think it would take you long to dig yourself out an 800k hole.