Hi Thunderdog, not always but I try my best. As for %ROI, I don't really measure my performance like that, but thanks for your words. Well, after my chat room show I got totally swamped with emails and stuff in the last 2 days and I'm having a choke trying answer 'em. The "%ROI" question was one of the most common I got. It is such a bent but common misconception, so I'll make my point here: Traders can't measure their performance like that. %ROI is an investor term, no trader uses it. Remember, as an active trader you have to pay for hardware, accounts, data fees, squawk, news, platform, whatever and spend half your waking lifetime in front of the screens etc. If I multiplied my hours spent in a year by a reasonable $-wage-per-hour amount, added to that expenses and overheads, then subtracted all that from my total take, then I could figure out some sort of realistic %ROI. So in my case, figure at least 3,000 hours per year spent on the screens, times at least $100 an hour (if I was worth less than that, I'd go back to my old biz, where I can easily make that), add all the overheads, and maybe throw in oesophagitis and ulcer treatment and other medical expenses as a function of stress (I've been through the whole somac and losec combination treatment over the last few months and I still feel like crap), then subtract the total from whatever you like to imagine I'm making, and figure what could be an approximate %ROI. It's certainly not 5,000%. Get real folks, this isn't investment. This is work. Work doesn't get paid for in %ROI. S
Yeah another haggling Jewelry salesman...You might be right, you and Wave have something in common and it surely is not trading! A jewelry salesman and a Used Car salesman...ohhhhh soooo funny lol BawaWaHAAAAAA
Scientist and the like have not been humbled by the market...Because they do not trade. Our arrogant character of Scientist has disgusted so many here on ET with his misinformation... I for one have tried to humble him, and folks its just not possible, let him learn the hard way...Please excuse these personal messages traded back and forth on WaveTraders Thread. Scientist cannot help it...note his disgusting post on page 29 which I have received a PM about why I did not complain about it. Well, you see I have learned to enjoy the satire of ET and do not take things too seriously here from these anonymous fictional characters here. As far as Wave...He is a funny guy. Could we say he is a master(at digging his own grave). Michael B.
I understand your point. Nevertheless, it remains the best apples-to-apples comparison that I can think of for traders, warts and all. Therefore, setting aside for the moment your capital costs for equipment, as well as amortization and other overheads, as well as any allowances for your wages, how much do you generate on your capital? By what percentage has your trading account increased since the beginning of this year? Please recognize that I am not inquiring about your actual account balance since that is no one's business but your own. I am only looking to gauge relative performance to the exclusion of operating expenses.
Jeez man what's your damage? You're starting to sound like LongShot... What do you mean by salesman by the way? I'm a designer and manufacturer, I got out of sales a long time ago. And yes, I can make a few hundred $ an hour, by setting big stones into valuable metals. And you bet there's more margin in it than selling cars. That said though, haven't done any of it for about 2 years now. Actually, am living 260km away from my JD biz now. Had to move here to get a T-1. P.S: What in devil's name put this simulator idea into your head? Something's a bit disturbing about your reasoning... Are you OK?
But you can't say it isn't fun )) All you have to do is use close stops and that reduces the stress. )) BBG
LOL...Yes thank you I am fine...but you could say that being an ElectricSavant is manic! Scientist...Your arrogance will destroy you. I have told you this years ago...I think you are allowed to be young once my friend...so carry on... Michael B. P.S. and no, I will not take you back behind the woodshed to knock some sense into you, this is your Fathers job, if you know who he was?
-------------------------------------------------------- P.S. and no I will not take you back behind the woodshed to knock some sense into you, this is your Fathers job, if you know who he was? ------------------------------------------------------ This is typical of you Michael B. you are a fuckwit. Why does everyone have to be humbled in the market you fool. Yeah I suppose you will get humbled if you have an attitude like you do. Your so fucking stupid I am surprised your wife even talks to you, that is why you are in here. )) BBG PS: Why arn't you buying the market it is going up right now.
Wave, This thread is not about me, its your thread. I did not want to talk about MY trades on YOUR thread, that would be rude. I do not need to be rude and feed you with ego. I simply do not have the time. Fortunatly, I am not scalping and do not find it stressfull or necessary to respond with off-topic methodologies as it would not contribute to your quest of being banned or to discuss tight stops. I simply trade with the power of compounding and expect 30% per year per system...(not that I have not scalped before or traded other peoples money) Currently I am long and short in several instruments and markets with options and currencies. I am thinking about trading this journal in ET, http://www.elitetrader.com/vb/showthread.php?s=&threadid=28684 Michael B. P.S. Wave you pretend to know me. Do you also jump so impulsively with your trades?...