And to those of you who contribute nothing but skepticism and bashing, I can already tell from your posts over an online forum as to why you are unable to get the results you want from trading. One word: E G O
continue to post on ET for the next year or two. Let's see if your results continue to match your expectations. I'd like to see the birth of the next Einstein of trading ready to take over Goldman Sachs. 15%/month, then in one year you should have 4x. After-tax 2 or 2.5x. In 12 years you'll be able to buy your own sports team or your own private island. I see some islands for sale down under. Cheaper than I expected. http://www.privateislandsonline.com/areas/australia Just remember one thing. When things go downhill (not to jinx you, but it will), it's not the end of the world. You're still young and still got time to correct mistakes if you move in the right direction.
Over 5x pre-tax, but haven't used a calculator. Should be a walk in the park for an 18yo who uses nothing but price action (and TA!).
I gave advice... seriously, don't be hard headed. Are you really happy with your results? Are you willing to make some live calls? If you show 2-4 weeks of ANY profit I'll be impressed as I bet you can't. I'll call this bluff all day.
Maybe it's time to he start thinking about which hot australian actresses he'll be dating when he makes millions from trading. The next Teresa Palmer? Damn, hot diggity diggity. http://www.youtube.com/watch?v=quvdtYe86O4
QUOTE]Quote from intervention: 1. First paragraph is off subject to this thread and readers would do well to skip it except for Aew who it is directed to in a personal nature. I suppose it best to be sent PM to him, but I leave it for the curious anyway. 2. Second paragraph is only slightly on subject. (My apology to Aew.) I bring it up because it has been mentioned I think importantly more than once. I am impressed with the commenters on this thread that I believe I can get some color on my question. That includes from Aew, the starter of this thread if he wishes. Well I am writing this sentence after I reviewed what I wrote as this first paragraph. It sounds terribly patronizing to you, but I QC'd it and haven't changed a word. It stands as follows: Sorry, Aew, for being a bit off subject here (just this paragraph). I very much like reading this thread, although not too constructive for me beyond that. It catches my attention because of a combination of hopeful story for you, Aew (which I find you to be extremely articulate and not be acknowledged for it on this thread), and I think you attracted mostly notably excellent advice and otherwise excellent comments. I suspect the responders are a combination of attracted to your story like I am AND have the value in them from their experience you have not benefited from; their generosity sharing it with you is altruistic in its humanity directed to you. You already DO show remarkable maturity in your cool headedness while the target of the most skeptical among them. I like to think those latter commenters are in their own way making contributions, too, if only in providing you inputs to the growth of your maturity in understanding and dealing (in the future) with derisive commentaries. Always know maturity is grown in part by incidentally exposing yourself to what the full spectrum inside any topic that affects you has to offer, especially when directed to you. In that experience, too, you grow in class as you keep your cool which is not too hard to do for anyone who has a core self confidence to allow these comments not to shake you. And if at anytime you think they are unwarranted (but don't be too judgmental !...to various degrees they may be warranted), you can always think in terms that idiots will be recognized for who they are without you becoming one of them by getting down in the dirt with them. In fact, you have implicitly demonstrated remarkable understanding not to do that while making appropriate return comments that are not incendiary. (There are ways to take the edge off of "old men" comment....ha ha.) In the end, you importantly make net gains by such composure. You have a terrific either foundation or talent for that. Personally, I think your age belies the level of what is disproportionately a larger amount of maturity than your peers. Or is it in the Australian water that make you all sound so good ? Ironically, if all I said describes you accurately, you already have a mastery in what I have been saying. Second paragraph somewhat back to subject: A two sentence background to set the context: I am a trader and investor inside my niche and terribly passionate about it over the last 4 years I have been involved in it. The fact I self -invented it for myself before discovering an entire population doing what I am doing doesn't take the enthusiasm off because I do it distinctively differently (I think, largely) than that conventional population. My point is I don't trade / invest but just a little tangentially using FA or TA. This makes me akin to Aew. The phrase that catches my attention is price action. The only thing that came to my mind is point and figure which I know next to nothing about. However this is what Investopedia says about price action: Definition of 'Price Action' CLASSIC: The movement of a security's price. Price action is encompassed in technical and chart pattern analysis, which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low), tests of resistance and consolidation are some examples of price action. [This sounds to me like Aew.) The candlestick and price bar are important tools for analyzing price action, since they help traders visualize of price movement. Candlestick patterns such as the Harami, engulfing pattern and cross are all examples of visually interpreted price action. INVESTOPEDIA'S SPIN: No two people will analyze every bit of price action the same way, and that is why a lot of traders find the concept of price action so elusive. Quite literally, price action is everything that a security's price does, and just like every other facet of analysis, it is purely subjective. I don't do Point and Figure. But I wonder if this is not an element of what Aew is doing. He commented he won't be specific, and I respect that. But his general description of not being slaved to FA and TA is exactly in my niche and what makes me agnostic in approach to market direction. (Aew says he steps away from what appears to be largely moving market events, though, and perhaps he is sensitive to market direction.) http://www.elitetrader.com/vb/showthread.php?s=&postid=3875628#post3875628 If there is a thread devoted to Price Action, please direct me. Otherwise I would lke a reaction from the excellent posters on this thread who have their own "subjective" description of what Price Action approach is. Maybe it DESERVES its own thread. (I suspect it is merely a subset of a variety of modalities of trading !? Investopedia did use the big word: "subjective")
You are probably referring to this piece of art: http://www.elitetrader.com/vb/showthread.php?s=&postid=3446252#post3446252 I researched to find this for you, Aew, thinking it may move the ball for you. Lots of credit to shooter (above) for referring to emg (but not the thread). Lots of credit for me for to find exactly what shooter was referring to. The thread seems to be on the mark for you Awe. Have a good time with it. Would like to know from you, Awe, if you see it that way for you, too. If you do, that's great. I think you are well deserving. Again, good luck to you. You will see this, I quote emg: Trading is a Career Professional where ones need a Higher Education. Those that took that path of Higher Education and went on to work in the institutional are in Heaven (Holy Grail) Those who decide not to take Higher Education path, but rather subscribed 3rd party educational/signal vendors they will be rich quick are in hell. They will stay in the Ghettos