Taking $5K to $250K by year end

Correct. That is what I am working on, but I hope this is inspirational to other traders as well.

 

The commissions and fees (at nearly 2% for the day) looks like a formidable obstacle to me. Have you factored this in your projections for daily profit?

 

There are three components of any good trading system. They are:

1. Entry & Exit Signal
2. Money & Risk Management
3. Psychology

Anyone reading from the beginning of the Journal can see that while allenhobbs was only a "C+" student of the first criteria, he is an "A" student of the second and an "A+" student of the third.

Now, lets take a look at how important those three elements are to having a succesfull trading career:

1. 10%
2. 30%
3. 60%

So by any measurement I'd say the Journal is a success and allenhobbs is demonstrating what it takes to succeed in a business that most find to be extremely difficult, if not impossible, to win at.

I am glad that it is continuing as is, though traders actually benefited more by seeing him fight it out everyday (you just can't please everyone, no can ya? ).
**
In regards to any future use of the information here to garner students or to direct traders' attention to any 3rd party vendors, allenhobbs has stated that is not his intention of the Journal, so I will take him at his word until such time as it is shown otherwise.

On previous threads where that was the case, the offending posts were removed and the thread was permanently closed, I sincerely hope this great effort does not end like that.

Good trading to everyone who reads the thread, supports and detractors alike.

 

Yes.

 

That's quite a report card! (Better then the ones I got in high school.)

I think you're giving me too much credit in #3 and not enough in 1, but I can see how you reached those conclusions based on what you've seen so far. I rate my entires "B" and hopefully that will be more evident as time passes.

Appreciate the thoughtful and interesting post.

 

Thank you for this challenging and inspiring Journal!

People might say that you're a "lucky monkey," but I see here more than luck.
I'll give you an A for the first category, entry/exit.

The question I have is, would you ever reveal your entry/exit criteria?

 

Results: 4/03/08

 

Maybe, but not this year.

 

This coming form one who is trying to do 2% a day. You gotta know that at 5K to 250K is roughly 2% a day (give or take).

So why can you, but not the OP here? Gotta love the double standards. You just lost some validity in my book, regardless of self promotion or not.

 

I'm confused by your comment. Can you explain it? Thank you.