Noticed that letter says "DAY TRADING"? Can't really do that with anything under $25K trading stocks. I don't recruit for a fund. I don't manage anyone's money. I don't HAVE to show anything. After the book was published I was asked on many occassions whether I trade profitably with the style described in the book. So here is answer.
Trendfader, I asked Treei, about a month ago, whether he traded several accounts; and he said only the MB one and that he made about 88% in 2003. Here is the documented evidence. We know he began 2003 with a minumum of 25,000 as a PDT so the least he could made was 20,000. As he also has documented proff of bringing a small account up to 200,000 in 2000(is that right?) I would be surprised if it wasn't substantially more. That is not to say i wouldn't like to know exact figures
Actually that is not true. He can have a remote prop account and put little money down. Lets say he had $30,000 down.. and made $26k. I wouldnt really call that much for a year eanings for a professional. In order to be considered good he has to earn atleast $50k. Over $100k and he is a great trader. Over $1mil and he a super trader. --MIKE
What difference does it make? Unless you plan on doing exactly what he does, you can't hope to achieve the same results. If you're not happy with your results, that's a personal problem. You have no reason to assume that your failures can be applied to everyone else.
Prop account? It's MBTrading, not prop firm financing their traders. Anyway, I trade my own money with usual daytrading margin, end of story. During the period described in the book I took 10K (leftover after losses) to over 200K, never having more than 30K in action. That was not by my choice but by harsh reality of trading. Do you seriously think I'd ever push myself into corner like this voluntarily again?? I've been through much with all the events described in ommited chapters we placed on our webpage and do not consider myself weak person by any stretch of imagination - but this is not what I would be willing to go through once again, you can trust me on that Vad
I've got 6 messages asking for numbers to that %... attached is screenshot of MBT Navigator's Account Balances P&L taken minutes ago... and this is as far as I am prepared to go. Sorry if it's still not enough. Vad
Am I the only one that thinks Street Smarts is a great book? Simple and right to the point. I would also reccomend all of Lindas articles on her site if you want to trade S&P. I learned more from them than any of the books I read. Have also learned a great deal here, strangely enough.
Anyone that 1) pays his food, rent, gasoline money, etc etc from trading is a professional trader by definition. 2) Anyone who pays the same thing by selling advice to wouldbe traders is not a professional trader. Do you have any idea how many on this planet fit into category 1 above? There are probably 100 times more Phd's on this planet than there are people that fit this description. I have the deepest respect for any trader that can pay his bills by trading alone, regarless of what his/her yearly take home is. However, the traders making less than $50K a year probably need not do so, and if they simply took advantage of all avenues available to them, i.e., greater leverage, they would easily beat that mark. nitro
I'd recommend 15 and 16. I've read 1, 2, 4, 5, 10, 11, 12, and 17 have found little practical value in them.
Wow, I can't thank you guys enough for all the replies and help. I will defiantly use all the recommendations and suggestions to slim down my Amazon shopping cart which is around $800 :eek: