porgie, What do you mean? My thoughts of Respectable trader's money would be around $5,000-$10,000 a day around 10 good pull days per month $75k-100k a month. Utilizing around 40-60 YM contracts. Thats what I pull in my other businesses. Which is why I have high goals. For other people I don't know, but their targets should never be low like 1-2 contracts for a living. Making a living is mundane. and Espically a waste of talent in the trading industry where people throw around billions @ lunch time eating a turkey sandwich.
hi coolweb so you are a millionaire from biz other than trading ? then trading is hobby for you ? I once knew someone who was millionaire from an inheritance ... but he liked to trade the markets hope he still has most if his capital. good trading and health and success to you in your other endeavors
I once worked for a man who had 28 million net his money from another business.....5 years ago.....he recently gave up on trading futures....eminis ate him for lunch...2 things not required to make big money in this business......big account and superior intelligence.....he had both and many "experts" on payroll as well as 2 fulltime programmers........actually the less of the above u have the better chance u have of success............this is one business in which u cannot buy success.......there i go again with the negativity.........excuse please.......
Hello, Yes, The correct way to succed in trading futures is to trade 1 lot till you are relatively profitable. I traded it for about 2 months non-stop, Also simulated half the time as well. Then went on trading stocks to pick up more patterns and ideas and then back to eminis for accuracy. When you mention "big account and superior intelligence" does not equal success. I truely agree. I can turn a $30k account in futures into $80k in 3 months I believe. I don't think capital is ever a problem in the financial markets. The only benefit is I can start trading 500 lots tomorrow once I have the things down, but I will not do that because slow and steady does win the race. But not that slow. So money is not a problem once you have the techniques. For me the benefti was knowing, once I had the techniques, I can funnel sized capital into the businses which was what I was hoping to do. The main key in trading is to figure out what other people don't see. It doesn't require superior intelleginece, nor does it require experts. Experts wouldn't be working for you if they were experts. Experts would be banking millions and billions. The problem with experts/programmers is they think linear. To be the true 1 or 2 money taker out of 30 traders, you need to think outside of the box. If everybodys trying to race to get to town and everybody walks on main street, Which street would you walk on to have an edge to win? Surely not main street, If you walked on Blvd A you might be faster , might not, That is where preparation comes along. Even before the races You walked Blvd A , Blvd B , 5th Avenue, 8th Avenue. You timed and tested all avenues. So when the race comes you know which way is the fastest, and which way the "losers" walk MAIN STREET. If you ain't learning , and you ain't making $XXK a day , You are not progressing or are you on the top of your game, you are wasting <h2><b>time</b></h2>. The reason why I switched to stocks is because I felt I was wasting time in YM because I couldn't etch out something to learn in that 3-4 week period. My mind was linear, but something tickeed when I started trading stocks. It seems the reason why many traders who spend 3-4-5-6 years learning how to trade but still do not succeed is : because they keep on trading the same techniques/ideas, over and over and over and over , maybe big tweaks but core ideas reamins the same, and expect something to mysteriously change for them one day..... <b> IT NEVER DOES</b> Thats not the way to do it. A Lesson a day is the million dollar way. Keep improving your ideas and methods until you are the top dog.
coolweb, I believe u got a lot of that from me....LOL.......seriously, u r correct ...........i have said so many times that if u r in the same box of majority and same are not making it, why join them........ that is how I developed 4 systems all over 90 percent accuracy even today's market which was very ugly if micro trading which most will and I won't..........big picture said up .........ver y slowly.........said up........I thought I would offend you with intelligence and account comments........glad I didn't.....just a few years of observing others in same business. 10 contracts YM should be max needed to make tons of money, in my opinion..........most days will yield 50 pts 1 contract on 3 or 4 minor trades with the trend are the easier ones...my brother trades/ scalps and position trades stocks and trades t his stuff right now.........he is in a slight bind as i write because he bought high..........2 contracts as he tries to be the smarter one which he is, and doesn't realize it doesn't matter...he would be trading many more contract sbut he knows he is not ready with the anti porgie systems thinking....he thinks too much and anticiaptes due to the stock trading for decades.......news awareness which is not needed here..i am waiting him out, and he will and is coming to m y systems ........if he is as smart as his sheepskin says..... top supt. for major chemical co.......retired ..I am dumb poor cowboy t ype.......old and dumb.......He is mechanical engineer one of best schools and he is smarter than I but he knows what I have sacrificed just not ready to accept success based on my systems....he is comiing closer and closer and all else is costing him money and when he trades one of systems he makes money or doesn't lose much at all...........I go to breakeven when it allows............sometimes very quickly........
coolweb, if u wish to talk further pm me, please.....i don't sell anything or give it away, but I can talk privately some about Emini trading........if u r are interested and if not best wishes forever George
Can someone please point out to me exactly where on the cbot website it lists the correct operating times for CBOT.... I was under the impression of no trading today.... several days this has happened. Am I looking on the wrong column on CBOT, or is the cbot website out of date on this information. Thanks