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4% A Day Forever

  • #81
  • Jul 28, 2009 8:05am Jul 28, 2009 8:05am
It's that dirty big black swan that will take you down town turv.I know she's waiting for me so i won't give her a chance.
If you knew my luck you would be surprised to know i'm trading to begin with lol.Just terrible luck i have.
If i went 10x straight up,it would be my ass on the silver platter.

I have an edge and consistantly turn dollars but i know better than to push to hard,randomness does play its part.
At the end of the day,i guess you could open a crazy man account(with free money) and go nuts and see what happens.That way you feed the need.That's the only way i would approach this type of thing.You really do need to know yourself and have an edge.

@The Fool.
Sorry for posting in your journal,my bad.I think turv and myself got carried away.


Cheers
  • #82
  • Jul 28, 2009 8:31am Jul 28, 2009 8:31am
Quoting skfx
It's that dirty big black swan that will take you down town turv.I know she's waiting for me so i won't give her a chance.
If you knew my luck you would be surprised to know i'm trading to begin with lol.Just terrible luck i have.
If i went 10x straight up,it would be my ass on the silver platter.

I have an edge and consistantly turn dollars but i know better than to push to hard,randomness does play its part.
At the end of the day,i guess you could open a crazy man account(with free money) and go nuts and see what happens.That way you feed the...

First thing to learn and accept is, there is NO SUCH THING AS LUCK!! All failures are down to you and you alone and statistical probability, it's just easier to blame on luck, stop blamming it on luck and improve.

I do the Demo account for Practice double trading with as many lots as it can handle, 5K into 10K in 35mins is my record, good practice to learn how to react, wouldn't do it with real $$$'s ofcourse.

Sorry Fool, expecting a run of 6%+ per day to bring your average back to 4%+
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #83
  • Jul 28, 2009 8:56am Jul 28, 2009 8:56am
Quoting skfx
@The Fool.
Sorry for posting in your journal,my bad.I think turv and myself got carried away.

Cheers
Hey, you gents feel free & don't worry about squandering precious bandwith. It's a forum, a place for people to yak, after all. Meanwhile I have been demo trading NinjaTrader in a new futures account - not the most intuitve platform. Now, if NY can keep this drop going to .4150 or so, I'll be back in business in my famous enterprise.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #84
  • Jul 28, 2009 9:45am Jul 28, 2009 9:45am
Quoting The Fool
Hey, you gents feel free & don't worry about squandering precious bandwith. It's a forum, a place for people to yak, after all. Meanwhile I have been demo trading NinjaTrader in a new futures account - not the most intuitve platform. Now, if NY can keep this drop going to .4150 or so, I'll be back in business in my famous enterprise.

LOL at the thread is wasting bandwidth, 1 mans waste is another man's treasure after all LOL

So actually him posting that, was the waste of bandwidth LOL

Well the Trend is down for the time being, I advise showing some professionalism and exiting when the trend turns up though!!

Try trading without your Profit / Loss visible at all, might reduce your emotions, cause at the end of the day if the chart says sell doesn't matter if your +100 or -100 the chart says sell and you should do as it says.

Yes this is my Achilles heal to
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #85
  • Jul 28, 2009 9:55am Jul 28, 2009 9:55am
Quoting Turveyd

Well the Trend is down for the time being, I advise showing some professionalism and exiting when the trend turns up though!!

Try trading without your Profit / Loss visible at all, might reduce your emotions, cause at the end of the day if the chart says sell doesn't matter if your +100 or -100 the chart says sell and you should do as it says.
I will see if Wall St. wants to have a serious bear day & maybe I can rescue this trade with some profit. Hiding P/L might be a good idea for me to try. 4% a day might be impossible. I knew this of course - just wanted a provocative title for my journal.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #86
  • Jul 28, 2009 10:00am Jul 28, 2009 10:00am
Quoting The Fool
I will see if Wall St. wants to have a serious bear day & maybe I can rescue this trade with some profit. Hiding P/L might be a good idea for me to try. 4% a day might be impossible. I knew this of course - just wanted a provocative title for my journal.

Best to never hold against the trend and trade based on HOPE Dude, definate ways to commit suicide whilst trading, but the trend is down so keep your fingers crossed it goes low enough

4% per day is EASY PEASY for a Scalp / intraday trader for a long term investor not so much but they generally put alot less time in.

The question ofcourse is are you a good enough trader to do it ??

If you a good enough trader to be profitable which is the first problem, then how much you make per day is just a function of the amount of time you put in and how much you risk.

Not many can do it, but not many can get to profitable in the first place, hence the nay sayers.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #87
  • Jul 28, 2009 10:39am Jul 28, 2009 10:39am
Closed Thursday's mistake with net 2% profit. Interest drawdown for the wait was almost 1%.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #88
  • Jul 28, 2009 10:42am Jul 28, 2009 10:42am
Quoting Turveyd
NO SUCH THING AS LUCK!!
If luck can be defined as events in which you have no control and they affect you then that is luck and it most certainly exists.

I suspect what you may mean is this:

In trading I am totally responsible for whatever happens to my money. I may not be to blame, after all, I do not make the price go up nor down, but I must take responsibility for whatever happens (this is actually a pretty good way to think about everything that ever happens to you).
  • #89
  • Jul 28, 2009 10:44am Jul 28, 2009 10:44am
Quoting The Fool
Closed Thursday's mistake with net 2% profit. Interest drawdown for the wait was almost 1%.

3 Trades +17% today



Can't do 4%, I missed alot of trades due to still in learning barely trading mode aswell, the GU or EJ move down I shoulda took woulda got me 50% which risking 5%.

4% is nothing, don't give up dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #90
  • Jul 28, 2009 11:22am Jul 28, 2009 11:22am
Quoting Dopey
If luck can be defined as events in which you have no control and they affect you then that is luck and it most certainly exists.

I suspect what you may mean is this:

In trading I am totally responsible for whatever happens to my money. I may not be to blame, after all, I do not make the price go up nor down, but I must take responsibility for whatever happens (this is actually a pretty good way to think about everything that ever happens to you).

Incorrect, Luck implys that you have a higher or lower chance of something happening then someone else because of some devine power.

You have no control over where the market will go, if your constantly losing then most people would say they've got bad luck and keep going, I say my system is at error and I fix it then I start making profits until it breaks again LOL

Stastical probability exists not luck, if your losing 8 times outta 10 then your system is leading you to those losses, anyone trading your setup would suffer the same.

Hence no such thing as LUCK!!!

4th trade +23.2% today, the secret is to never have losers
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #91
  • Jul 28, 2009 11:29am Jul 28, 2009 11:29am
It's actually my view that no one will succeed at trading until they HAVE TO, ie no other money coming in, it's too easy to not take it seriously until that happens.


My tradings improved hugely since the realization that I trade well and make profits or lose the house currently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #92
  • Jul 28, 2009 2:51pm Jul 28, 2009 2:51pm
Quoting Turveyd
Incorrect, Luck implys that you have a higher or lower chance of something happening then someone else because of some devine power.
That's your definition of luck. It's certainly not the standard definition, not even close.
  • #93
  • Jul 28, 2009 3:00pm Jul 28, 2009 3:00pm
Quoting Dopey
That's your definition of luck. It's certainly not the standard definition, not even close.
Luck doesn't exist, there is no such thing as bad luck if your losing it's not cause of some mystical luck thing it's your fault and you can fix it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #94
  • Jul 28, 2009 3:56pm Jul 28, 2009 3:56pm
Quoting Turveyd
Luck doesn't exist, there is no such thing as bad luck if your losing it's not cause of some mystical luck thing it's your fault and you can fix it.
yes i do agree....i also starting to believe this..its all in the head
  • #95
  • Jul 28, 2009 4:02pm Jul 28, 2009 4:02pm
Quoting nAVIN2007
yes i do agree....i also starting to believe this..its all in the head

Correct, Science does not support a 1 person is luckier than someone else, it's all about making the smart decisions.


Don't hide behind luck it does not exist!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #96
  • Jul 28, 2009 5:39pm Jul 28, 2009 5:39pm
So Turv,

You and i are both trading eurusd and decide to go long.We do our analysis and place our stops well below daily support(1.4100)you place your stop @1.4085 and i place mine @1.4080.Price comes down and stops you out but doesn't touch me.You lose 2% i end up making 5%.
Its a 5pip difference.Who got the bad luck?There was a 7% swing all over a mere 5pips.And don't tell me in this example that i made out the best because i did a better job of weighing the trade up.....that's fluff.
I will agree with you that if your losing consistantly then it's definately you and you don't have an edge and has absolutely nothing to do with bad luck.

But,people DO get unlucky and lucky whether you want to admit it or not.It's a word in our language and it is there because it exists.
I do agree that to a large extent we control the outcome but luck does play a part.

Here's another example.
You and i both drive down the same road to go to work in the morning.We're both doing the speed limit and adhering to the rules.I run over a tac on the road,you don't.You get to work on time while i'm changing a tyre on the side of the road.
We were both doing all the right things but i got unlucky.All over a pin head lol.

Quote
Science does not support a 1 person is luckier than someone else
There's more to life than science i'm afraid Turv.

Cheers
  • #97
  • Jul 28, 2009 5:56pm Jul 28, 2009 5:56pm
Quoting The Fool
My name is The Fool and I am a scalper. I began forex trading this year. Demo traded for 3 months, and have been trading live for almost 3 months.

So as the journal title implies, I am trying to hit a gross account increase of 4% per day, day in and day out. Check out my spreadsheet, which clearly shows that I will be a millionaire by this time next summer.
Yes, they say it can't be done. They will scoff. I will post my spreadsheet results from time to time and we'll see how it goes.
How are your results so far with your live trading? Do you have some trade blotters you can show us?
  • #98
  • Jul 28, 2009 6:31pm Jul 28, 2009 6:31pm
So :-

You and i are both trading eurusd and decide to go long.We do our analysis and place our stops well below daily support(1.4100)you place your stop @1.4085 and i place mine @1.4080.Price comes down and stops you out but doesn't touch me.You lose 2% i end up making 5%.
Its a 5pip difference.Who got the bad luck?

Why does Luck even have to be envolved, recently EU's been on my buy list on 00 breaks @ the high 80's area and frequently reverses without touching 80, I set my stop too close nothing more or less, on the next 5 trades I could get out 5pips before you which puts us back to even.


People DO NOT GET LUCKy or unlucky thats a myth, it's the way you perceive and label something that happens, but if we both placed exactly the same trade and you said you where unlucky, we'd both get exactly the same initial result ( what you do after I close is your own dumb use after all ), the universe doesn't even know that you exist to conspire against you.

Yes it feels like that at times, but no your just trading badly which might of worked perfectly the day before.


You and i both drive down the same road to go to work in the morning.We're both doing the speed limit and adhering to the rules.I run over a tac on the road,you don't.You get to work on time while i'm changing a tyre on the side of the road.
We were both doing all the right things but i got unlucky.All over a pin head lol.

Yet again nothing to do with luck, it's a statistical probability based around how many miles you drive, and what kinda tyres and what condition there in, we keep doing the same route long enough I'll get punctures given the same tyres exactly the same times as you.

Okay here is a test for you :-

Role a Dice say it roles a 6, what are the odds on that dice rolling a 6 the next throw ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #99
  • Jul 28, 2009 6:32pm Jul 28, 2009 6:32pm
Quoting jamiewhite
How are your results so far with your live trading? Do you have some trade blotters you can show us?

I believe he got carried away and stuck and fool like and is holding EurUsd Short from 1.4150 or something, dunno if he's took a small profit yet or hoping for a large account bost from a 2nd down day.

I hope the later but news can change market direction in a new york second.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #100
  • Jul 28, 2009 6:42pm Jul 28, 2009 6:42pm
Quoting jamiewhite
How are your results so far with your live trading? Do you have some trade blotters you can show us?
Go suck on Jacko's blotter, asshole.
"If The Fool persists in his Folly he will become wise." - William Blake
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