I entered 2 real money contests, one in 80's, stocks, and the other in the 90's, futures, won them both with plus 275% returns over six months, big deal, I was mainly trading against a friend and won contests outright. I didn't do it for prestige, and certainly didn't want to work for anyone else, THAT a major step down for me, don't want the bs of managing OPM, and for what, a lousy 20%? AND YEAH, I started out as a small retail trader, blew out a ton of accounts in futures. Any time working for the public, you really work your tail off for their money, tried it and no thanks. Until you do it, you only go by dreams. WOW, you can predict the future? Can you give me the lottery numbers? You can't predict shit, otherwise you would own the world and you can't even come up with 10k? Thousands of people put it on C2 cause they have no system worthy to make outstanding money, cause when you do, you wouldn't be dumb enough to do it. I don't want to collect crummy $300 a month and have to compete against others for good prices. And I don't know Steenbarger, but I don't hang out too many places, who has the time? Funds often make more in management fees than the 20%. If they are not real money records, only the dumb/greedy will give you any funds.
Are you an idiot or just act like one? The person making the outrageous claims is responsible for proving their claims. Yes, I can predict the market and I'm willing to demonstrate it here, live, for a worthwhile and serious reward. I'm willing to make 100 directional trade calls in advance. The money would have to be put into an escrow, etc. I'm not wasting my time for anything less. But for sure, if Don Bright , black jack maverick, is up to it then sure (or any of the other well heeled sharks) anything is possible. Trust me, no one with a half a brain will challenge my abilities. Now.. I want to show what NoDoji is claiming. She claimed that with 10k one could reasonably expect to do 90k in a year. We know things can vary and so we expect less then 5k drawdown (50%) then we get 5k max DD for 90k return which equals = 18x return. This will be similar to having an 18 Sharpe ratio. The best have Sharpe ratios around 2. Even Bone only claimed to do a 4 sharpe ratio.... Now she is also claiming to do this in crude, one of the most liquid contracts in the world. While I don't have an exact figure, we'll say that up to 10 million under management we shouldn't expect to see a huge performance hit. Even if we take a 50% performance hit, we're still hitting 9x returns. What does this mean? This means that someone with a 100k account who is only willing to risk about 30% per year can expect to do 30/5 = 6*90 = 540k! Come on you tell m with this sort of record you're not willing to risk 30%? And you can keep hitting these returns up to 10 million. So if NoDoji has done this successfully for about 3-4 years, she should have oh about.. I don't know 4-5 million dollars. I"m not saying its impossible. I do know that many successful traders do trade the 6E and Crude. These seem to be the contracts that most claim to be doing this in... however, everyone who's claimed this is offering training/mentoring/etc (I do too, for the record but don't make these claims). And not one person who I've offered to pay for records was interested. There is a difference also in what is POSSIBLE and what can be expected. Yes, its possible to do 90k off 10k but is it reasonable to expect to do so? I contend no. If I hit a good stretch then I could do it..but to expect to do it means something you're hitting more then 6x out of 10x. This means 6x out of 10 years starting 10k = 90k. I'd like to see the evidence... Trust me, I train to be one of the best in the game of zero sum trading.. if this is true then I'd like to see such results.. NoDoji.. its true that Dr. Steenbarger wasn't right on everything. I grant you that. He also claimed he never seen a fund that used "retail methods" such as price action, fibs, etc be successful. I have used such methods to great success.. likewise, as noted, he dismissed my ability even though he knew it.. And I'm pretty sure I beat him on many calls.
lucias,i predict all day,every day,am i right,seldom,you watch what they show you ,you bet and when wrong,trade out of it,the mental game of being right and having money in and being wrong is trading,predicting,i can find 1000 folks that claim to be good,it's all a maybe,when you have money in the game there are a lot of losses,predictors can always say i didnt take that trade or i took an early loss,because it wasn't trading, big difference,get a sim ,drop a few g to open an acct,nite and day to predicting
Back to the topic.. why do 5% of traders win. Yes there is a reason. Have you noticed that most scientist have very large craniums? No, pay attention next time. Watch "Race to Absolute Zero" very good documentary.. You'll notice big heads. What does this have to do with the 5%? Nothing directly.. I just found it interesting.
Lucias,did you ever make 90K a year?You`d better listen to what the pro traders were trying to bring to you.
ocean5.. Can you not read? I've brought you the claims of the real professionals. None claim to do what NoDoji does. I mentioned professionals like the manager of one of the biggest prop firms, Dr. Steenbarger, professional CTA's, and World Cup Trading competitions winners. Hell, I even threw in Bone's claim. I gave you all the evidence/information from anyone who was believable... Maybe YOU should read what I wrote about 5x or 10x and learn something. I've also spoke with full time day traders and know what they make. I know what many pros are making from diverse backgrounds. I know a handful of people who have claimed to do what NoDoji does. As I noted, they all claim to trade Crude and 6E. They all sell training or were taking training at the time. None of them were willing to provide any evidence. Every one of them SHUT UP when they realized I wasn't so stupid as not to ask for some evidence...
''I've brought you the claims of the real professionals...Dr. Steenbarger, professional CTA's, and World Cup Trading competitions winners...'' In my hood, there is a word 'DICK' on a picket fence.I read this claim everyday. I asked you a simple question.Ever made 90K a year,50K...20K?No? And you continue to argue with the experts,never made a dime on your own.Then you calling Handle an idiot.Do you what this man is about to call him an idiot?Very improperly and impolite. Cheers!
The whole idea that NoDoji might actually be telling the truth, scares the shite out of you, doesn't it? Why? Because it means you AREN'T the best of the best, not even close. Isn't that what you call yourself in your diary? Best of the best except those darn HFT who don't count cause they're in a different category. Swallow that ego, my friend, and learn like the rest of us. This is a big part of why, "5% of traders win", and actually keep the money. Actually, that should be other part of the question: how many of those 5% actually live happily ever after enjoying the fruits of their labor?
NoD called many, many CL trades live in Skype last year. I heard it with my own ears. Not that it's going to convince people who are in a denial mode, but I had to say it as a live witness. As for someone woulda shoulda making $500K instead of 90K or $500M... As a very successful trader and a very nice man who helped both NoD and me a lot, once said. "I am not in the Forbes list, yes... But who cares?" Not everyone's meaning of life is continuous race for more and more money. Many people just make enough and are happy with it. World is more colors than just black and white.
Also have a trading buddy, who's amazingly bright scalper. Learnt to trade in probably less than a year. Started to trade significant size in the Euro... and simply trades much less since then, paying more attention to the family and his dream of life, music. Just as another example of why someone successful at trading not necessarily is a money junkie.