Advice Only. 1 Liners Concise.

Everything is relative.

regards
daytrading

Absolutely!

"Demo vs Live"
"Doom vs Life"

"I've Saved my game so, I will attempt the Big Move. What the heck? If I get killed, I can always go back to where I saved it."

Third page, I can't believe I don't see the infamous:

"Plan your Trade, Trade your plan"

Cliche I know, but it's advice I live by.

Edit: Ok, my other 3 were quotes I like. Not advice. Removed.

Size only matters when you're over exposed in the market place.

Expensive is only relative to your income......

"Trading; To rob other people while they are trying to rob you"

trade small, trade consistent, ignore signal providers entirely

...hmmm

I'd say: trade according to your capital - or trade large if you can, otherwise you won't get rich.

regards
daytrading

Otherwise you won't get rich.
There ya go, inspire fear(I might miss out!) and greed(Get rich!), that's the best basis for calm, coordinated, unemotional trading

Good advice!

1.8% per week compounded for 40 weeks in a year => 100%.

Not sure if one needs to trade large for that

In my experience this translates to: trade sensibly, stay sane
Or: grow your account as fast as you can grow yourself.
(these are the one-liners, to stay on topic)

I like that a lot better than promoting "risk a lot or miss out".
There's often this tendency in people that produce 1800% profit in 8 weeks(arbitrary numbers) to also produce 100% loss occassionally. Smaller % number, yet larger significance..funny how numbers work

If you can, do. If you can't, practice!

please do not quote me out of context!

I said: trade according to capital - not trade stupid size if you can't afford to.

If you compound for 40 weeks, your (trade)size will have grown significantly.

If you are afraid, don't trade at all.

I don't promote unnecessary risk -but if you f*ck about with microlots forever, you might as well empty bins.

In 21 years of trading I have not heard so much bullshit.

That's me done with the thread.

Large is always in relation to.

Indeed a fixed % automatically grows with account size.

Saying "trade large" sounded like a big % in relation to the account.

Don't get mad at me for trying to disseminate potential a misunderstanding in the phrasing.

And I quoted the full post - how could it be out of context?

The whole problem was that you said both at once:

"I said: trade according to capital - not trade stupid size if you can't afford to."

You also said:
"trade large if you can, otherwise you won't get rich."

That's two seperate items (you used the mutually exclusive OR operator if I understood correctly) and I simply feel that one of the two could lead to a dangerous outcome(if properly "misunderstood").

If your followup is simply to say you agree and that you meant one should increase absolute size parallel to the account growing(more account size automatically means the same % is more lots / money), but not relative size(identical % throughout trading), then good.

That's all I pointed out => all you need is fixed % risk.

But your original post was clearly phrased in a way that seemed to encourage "trading large".

I can only read what's written, what you MEANT is in your head only until it is made explicit.

Again - don't get mad at me for saying the same thing in the end with more words..

IMHO - fact of the matter is, out of the 30k+ members on FF, more than half are prone to read "you gotta trade large if you wanna get rich" and think "okay, unless I go big I won't make it!" and subsequently just bust themselves out prematurely before they've been around long enough to get even a clue of what they're doing...that's all I was trying to post around about..
I know that plenty folks really could care less what happens to others, but I try, sometimes..

Here's a one liner for ya:

If you don't fill bins, there won't be so many to empty.

{I 'emptied bins' this winter to fund another live (micro) account. Now, I'm happy with my 15% return in four months by scalling in and out with microlots. I'm looking forward to emptying more bins this year to fund a mini account. I would like to take this opportunity to thank everyone for filling those bins.}

Make the best of what you've got!

I have to agree with SL here... If you're saying that you won't get rich unless you trade big implies that you are not rich yet and therefore can't have a big account so how can you trade big? Only by taking on unreasonable risk.

daytrading, I know you are a good and experienced trader and probably wouldn't purposely dispense such irresponsible advice, but if you read back through your post, you will see how it might be construed in that way.

Micro-MiniMe
http://www.forexfactory.com/images/misc/1kt.gif God-like Trader
Member Since May 2007
Posts: 717


http://www.forexfactory.com/images/icons/icon1.gif I was going to stay out of this, but...



...why didn't you?

I have been very clear about what I said. Unfortunately, its like having to help you think.

You will never get anywhere if you are not sufficiently capitalized. If you are not, stay out of the game. That goes for most of the people here.

I started trading with £100K and that was hardly enough to keep me afloat over the long term...let alone get rich. Thats when I decided to look for backing - large backing. I knew that I can make money every week - almost every day. I can trade up to $2000/tick, (average size $500/tick) and I take anything between 5 - 20 ticks a day. With losers taken into account, I average 50 - 60 ticks a week. I am doing this for quite some time - so do the math.

I don't care what percentage return I produce - I take a cut of the profits thats all. But if you try to make what I make with an underfunded account, you'll spend the rest of your days counting pennies.

A hedge fund that produces on average 9% annual return can live with that because they have usually more than $1billion under management - if you do 90% per year on $30K, that's still nothing in comparison - even compounded.

And if you start with a few losses in the beginning, it will take you forever.

So, nothing I have said can be misconstrued in any way if you know the game.

I am not in it for fun - like many here (the God-like trader for example).
I am trading to keep making large amounts of money - and you are right, I don't give a f*ck if someone misinterprets my post. I have helped many to get on the horse - but once they are on it, its up to them not to fall off.

Like I said, I don't want to waste neither my precious time nor yours. So I won't give any further replies. If you don't like my advice, ignore it.

regards

Sometimes in life as in trading, it's best to take a deep breath, relax and just say,
"Excuse me?"

Here's my one liner ...


Opinions are like assholes - everyone has one and most are full of sh*t (me included often!)

Also they get management fees, there's an "entry fee" etc. Sometimes the recruitment of new clients makes them more than their annual return. Well, enough about hedge funds.

Just wanted to say I agree with all of that. IMHO it's another factor that leads people to overstake and bust out swiftly. Many simply have wrongly sized account types, as well as being undercapitalized, too.

I think I actually pretty much share the same views on things like the capitalization as you, DT.

Moving on / back on topic..

Great, another angry Brit.

I used to live with one from Wiltshire. (What a psych research paper he could have been.)

It must have something to do with losing an empire I guess.