Turning $7,000 into $1 Million in Less Than a Year: A High-Risk Trading Challenge

The problem is that by risking more than 50%, the risk of incurring a loss is huge.

 

Oh so you're not using stops then? Otherwise yes...pussies. It's funny because day traders talk a big game about price action when they actually are the most clueless, and it shows by their tight stops and ending positions before EOD.

 

That would be my guess. Probabilities only work their way through a large numbers of trials. At 50% risk per trade, there's a good chance he won't get to reach the number of trades necessary for his reported probabilities to play out.

 

There is no difference between day trading and swing trading in terms of Courage.

You can swing trade 10 contracts with a 100 point stop loss in say the ES. Or you can day trade 100 contracts with a 10 point stop loss.

Both require taking the same level of dollar risk ($50000) and same size balls.

Although the swing trade opens you up to gap risk especially at the weekend. The day trader probably pays more in commissions over the long run than the swing trader losses in gap skid.

 

100% drawdown, no more capitals left to trade.

 

I don't understand the use of stop losses? If you see the price of your house drop 10k you don't liquidate it...nor do you sell it at 4 pm everyday and buy another house in the morning.

 

day time margin vs overnight is 50x with some brokers, you can get 2-3 houses before 4pm.

 

Yes but your stops would be so tight what's the point of leveraging?

 

hence for the full size adult players, not youtuber wannabes.

 

The hardest part was that I had to say goodbye to the view of myself as rational/objective, and had to view myself as an ‘idiot’ as I would have judged someone else who wouldn’t have taken some of the table.