While, slightly hostile in tone, you're correct. It's the long run that matters for traders. 10yrs sounds like a good mark for measure. I've got a couple to go to get there, had to re-invent my edge a couple/three times to stay profitable. The long haul is why risk control is so important. First you've got to make it, then you've gotta be able to keep it. The bigger you get the more important it becomes. Returns also diminish for those of us who are more guarded in our positions/exposure....so I'd say there are MANY traders here posting P/L's that are trading better and more effciently than I am, by far. There are also traders here that make FAR more than what you see us post. The only reason I'm here is largely due to starting out during fractional trading. I'm not sure I could start from scratch today, the odds are definitely stacked against....and it's extremely competitive out there right now. Kudos to those newer traders starting out that are very consistent in this environment. We see them post here everyday. As for MK, I completely believe him. While he MIGHT not do a Mil, THIS year....I'm sure he's pulled it down plenty before in previous (bet he does at least 3/4mm this year with all the time off). We just have different priorities now. When it's already in the bank, you've got the luxury of spending time where it counts, which very often isn't spent making a buck on LU, but rather with family. You get to see his few hours of work.......lookout when he really wants to trade. Give him a break. Yes, thanks for the thread DT, it is ultimately a positive reinforcement.
whats so hard to believe about getting two flips of LU or NT per day for 250k shares. when the books stack up right and you got the firepower you can push the stocks where you want. Maybe I make it sound easy, it by no means is, but at the same time anyone here can do it if they pursue their dream. I taught my brother how to trade and while he does not make what I make, I am very proud of the fact that he can make it on his own trading with what I taught him. He is a sound and profitable trader, day in and day out making money trading these low priced NYSE stocks. he can make 1k day pretty easy rolling in at 9 am and busting out by lunch. You know what I say, good for him! the less time he has to work the better, because in this business you can wear yourself out quick. Burnout is inevitable! You guys that are naysayers are out strictly for the coin. While that is great if you dont have the lifestyle you want, when you do get there its not about the money anymore. So swimming in my pool, or taking my daughter to the mall shopping, or going to the beach is a whole lot more important than me sitting home in my office and making another buck! But you wont understand that until you are there, I guess that is where your mind and mine differ. Its a shame too, because in this business 99% of the people are money hungry whores, the other 1% know that when you attain financial success, it does not really matter anymore. Family and life pursuits are better than any buck you could make. thanks for all those that posted, if I sent you my P&l sheets or time and sales to prove the disbelief I urge you to post here and drop the naysayers out of the picture. This is by far the best thread on ET and it should stay that way!
holy crappers - MK is only 28?!?!?!? I need to step it up! MK, when did you become consistently profitable? P/L not even worth posting - $5 In class all day, no way to trade. Maybe it'll be tradesports.com for me because 4x is kicking me arse. -K
anyone notice how I always try to go flat everyday? another strategy of mine not to hold overnight. Or maybe that is more like a rule, lol...........
I know no one believes that i can possibly pull down the numbers that i do, and i know i dont post screenshots of my blotter everyday, but i swear its all true!!!!!
I never had a down year since I stated in 97'. I got lucky with all the internet crap and made some nice money. I didn't kick it into high gear (mill + per year) until 2001. Every year since then it has only gotten better for me, and I seem to be spending less time trading which is great! Im looking to be out of this by the time I am 30 and doing something else that is usefull and positive to the world. this fighting around with these dudes is horse%$# and drains me. maybe I will start to use the ignore feature.
szeven LOL! I like the fact that your mindsight is in the right direction! I enjoy your blotters, keep posting them. I was there once too. If you pursue your dreams your success will be rewarded monetarily. the rest of life's happiness is up to you.
I have a hard time believing you will be out by 30. If you can still pull in the money you are, you will find that making the same amount in other ventures is going to be a real pain in the ass.
LOL, all my friends keep telling me the same thing.............. I look forward to see what happens. when I say 30 they say 40 and I cant give it up. I want to know where I stand in 2 more years. It will be good to know.