Nothing wrong with testing with small size ... a new idea or if the conviction isn't there .... I do it all the time Way better than paper trading
On the other side of the business of managing my capital, I'm thinking of starting a true propietary firm and farm out a few traders. $500-1k living salary (live on baked beans until profitable) 50/50 net profits. $10 million buying power. No contribution required, but a solid solid, foundational skills requirement. (work -ethic , C coding) Their requirements would be, as in extreme coding /quanting skills etc. / hacker-like linux coder who would figure out things. --------- I would like to breakup my capital management since I use my capital once or twice a month. 75% of the capital is managed by me. 25% is managed by propietary traders All traders start out with a $10k position and can double their position with each profitable trade that makes 2% , Which means they have to prove they can manage money to manage money I have lots of money. They need to be professionaly risk managed.
The highest edge in trading is profitable experience(s) balanced out with stringent risk management, It takes you into the pinnacle of mindsets. Its apparent my mindset is extremely good. In fact, I know on any given day, If I enter the market with 500k , I can come out with 35-40k in profits within 3-4 days. If I add onto my 500k position into a 900k position, I can come out with $50k or so, with very low risk. When skills/experience is applied ,money gets trucked in, I don't have to sit there and pike it out on some "index futures". No need. This is the ATM.
How to calculate your trading profits? <b>Experience * capital = XXmoney_you_make. </b> 0 experience * $5 million = $0. 153523 experience * $500 = $$$$$$$$$ 99 experience * $5 million = $$$$$$$$$$$$ Myself: decent experience * lot of money = ego tripping daily.
I often self evaluate myself, You often sit there wondering how do people with game think= We are egotistcal. I probably work harder then you just to be "better then you" We are more experienced then you, since my struggle to be better then you is immensely higher then you struggling to just to put food on the table. Food is static, people better then me is a constant streaming variable. Most average folks would stop improving once they make their $5k a month, have enough to buy their minivan and a motorbike while making sure the turkey is roasted on thanksgiving. Thats why they are "average folks"
Has been 40 days since my last big trade, waiting and watching. -on the other hand I'm getting a new electric bicycle + a Nokia N900 Maemo , Should be relatively busy busy.
Did you end up putting some of your cash in gold? You will like the N900 my buddy has one. I am personally waiting for the Meego version that will come out eventually as I am in no rush. Electric bike eh? Do you drive a car, if so what type do you drive?
I use to drive and ride a motorcycle (a real bike) I 've moved from the city to other cities and reliquinshed all of it, since I don't live there anymore. Now I take the subway/bus/taxi these days and usually live in the city center wherever I move to. I'm riding the electric bike for pure entertainment, Its a folding electric bmx bike, 24 volts. <b>Don't need a license for it.</b> goldtrade -nope, still in USD, was thinking of moving to EURO, nope. not the right move. I think if I can maintain a steady 30% gain per year, I will overcome any inflation or even money devaluation. other thoughts on euro - its at its low right now, but it can get lower, not easy to trade so not going to trade it or exchange USD for it. thoughts on the markets - down this month + next month.
Coolweb is a fucking liar. Nothing in this thread is true except for his stop out losses. Anyone who claims to put on "test trades" with 2 and 3 ticks stops cannot be believed. Im guessing he has spikey hair, wears Affliction tshirts, shares a shitty apartment with 2 other fellow waiters, and gets denied by girls out of his league every Friday night.
#1st rule of trading: Don't be ignorant , dumbass. #2 anybody with a brain can see from my real time posted "time stamped" trades, 5-10 cents risks from the absolute low, is some incredible mastery shit. #3 my last LARGE trade = " 05-25-10 12:26 PM ok large size long Abx 41.23, short gld hedge" Entry 6 cents from the low, exact minute, exact timestamp. #4 amazing timing. <b>You on the other hand are dumber then a roll of bounty tissue paper.</b>