I'll crush your shitty 500k account friend. Only a fool like yourself believes 24 percent a year in 500K is unachieveable, you sir are a clown like 99% of these forums.
Lots of haters in this thread and he hasn't even started posting trades yet. If you start trading with your strategy, I'm interested to see how it goes. I'm also curious to see Busta21's $10,000 month easy crude oil strategy. Did I miss his journal thread with real time calls?
So do you have an annual gain in your mind that is achievable and you are comfortable with? After all, you gave up your job for this, so you must have crunched the numbers... That is a quick way to the poorhouse. Then your original position is either very small, thus it might not give you too much in rewards or if the position is decent, so is the DD....
Again, with your track record, I have to ask. What makes you think you're in a position to question anyone's methods? http://www.elitetrader.com/vb/showthread.php?s=&threadid=113413&perpage=30&pagenumber=2
I'm a position trader and the account is hampered by the inability borrow since it's an IRA (ie go short) therefore it may be awhile before I make a trade. Since it's real money, just like hedge funds I prefer to keep the specifics of what, when and how much confidential. I can say I like leveraged etf's when the odds are in your favor.
pulled this from the joke thread, courtesy of Yannis " After the game, the King and the pawn go into the same box. ~ Italian proverb" lets keep this in mind as the thread progresses,the internet tough guy posturing has zero to do with the market
1)I think I could be comfortable with a several thousand percent gain but I think it's unlikely in the short span of one year.But then again I'm sure that did happen in Germany circa the 1920's and unfortunately I think the markets are more driven by political machinations than true earnings gains and wealth creation. 2) Honestly I think I'd consider breakeven on spending and tax obligations a successful year. 3) I disagree ,I don't think stops are all that helpful . As a matter of fact I think stops can be quite detrimental to traders who honor them at first just based on price but who STILL believe in the WHY of the trade. The tendency is to whipsaw themselves into unprofitability vs completely abandoning the trade and moving on. Since I'm a position trader I'll only abandon an idea when the basis is proved incorrect or a decent recovery appears remote due to new information.