why come down on the guy for asking a question. wtf ! answer the guys question or don't answer it at all. there are plenty of stories about guys blowing up..i would say that 99% of successful traders have blown up at one time or another. learning to lose and make a come back is great sort of boot camp for a trader to go through.however,a trader will learn from his mistakes.thats what separates the good trader from a bad one.
I have been scrolling through these posts for sometime now and have never registered until about a month or so ago. The reason I use to browse was to look at software reviews, broker reviews etc. And I would eventually look for other info on specific news sites etc. But let me tell you, it seems this site is the most negative thing I have seen. I trade futures full time with a 75k account and make 500-1000 dollars a day bar none that is my average when stopped or not for the last three years now. I have been averaging about 150k a year. And I do it quite easily so I laugh at all this analysis and the bullshit posted on this site. Because I think it is quite easy to make this amount if you are disciplined. I wake up at 5 am and begin, as soon as Im up 500 or so I turn the computer off and do whatever else I want to do that day that is it!! Its that easy, but you know what? Most guys cant shut it off thats why they lose. The market gives you a chance to make that "little" money that I make as long your willing to accept that and do other things in life. I come from a place that knows to get a job somewhere making a 100k with a masters youll work your ass off so when Im up 500- even 400 sometimes I shut it off and smile because I know no one will pay me this amount in the work force with this freedom. Many of you will think Im small change, because we seem to have many big players here LOL! But its all discipline and all the charting and books and posting in the world cant teach that. It comes down to just accepting a certain level of profit and shutting off and being content. That is why there is a 95 percent failure rate. Adios
Well, I'm not sure. I always thought I'd never get a 2nd chance at getting enough capital together that I had to make it a priority not to blow up. I guess you have to ask someone who admits to having done so.
Manage yourself. Probably the first time in history it just the trader and the market. Information how to trade can be bought, price information is cheap and fast, money -if you don't have any- can be raised and the markets are liquid with good ranges, but you find out after you have learned to trade that you have to learn to manage yourself. GC
So true, agree 100%. I am also a scalper and one day after being ahead over 3K I ended up loosing money and I asked myself why was I doing this? Since then I set up performance targets for myself. If I am losing more then my average gain I have to quit and if I am between my average gain and 20% over I stop. I start around 7:00am in CL and switch over to ER2 at 9:30. Most days I am done between 10:30 and noon ET. GC