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4% A Day Forever

  • #1,321
  • Dec 30, 2010 11:43pm Dec 30, 2010 11:43pm
I am doing ok. Recently (November) I had a few weeks of multiple double digit days each week & doubled the account in about 3 weeks. Right after that I had a few bad weeks straight and gave about 30% of it back. The best >4% avg per day run I have ever had is about 8 weeks of daily tradng...quite some time ago. But I don't trade every day anymore. I need to run my other business and also I suffer from burnout when I trade all the time. One does not need to trade all the time anyway if he will commit to adequate capitalization.

Quoting honestb
The fool, are you earning 4% a day since July 2009. I did not read the whole thread. if yes, start your investment company. your company will be richest in the world.
Turveyd, good to see you man & hope you are doing well. I am moving out of spot in 2011 and into futures. Will still trade the euro but also the ES and CL. I have high hopes for scalping crude... Best of luck to you in 2011.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,322
  • Dec 31, 2010 7:17am Dec 31, 2010 7:17am
Not traded at all, infact I've only made 60 trades this entire year, first 2 weeks in Jan and 2 weeks in September, no other trades bad year hey.

Been working on a new simpler method the last few weeks, so hope to have a good go at it in 2011.

I expect work will slow up, so guess I need to and also
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,323
  • Apr 16, 2011 9:23am Apr 16, 2011 9:23am
Hello Fool,

I've been reading your whole thread these last couple of days, and it was very interesting and instructive. Thanks for sharing your experience! I see you've not been posting in the last months, hope everything is well in futures land.

I've started demo-trading recently and I didn't find anything about your demo-trading experience. Could you talk about your learning curve in the beginning? And the main differences between demo and live accounts with your scalping system?

Aurčle
  • #1,324
  • Apr 17, 2011 9:46am Apr 17, 2011 9:46am
This guy is the real deal.

I'd also like an update, TF

Hope all is well man, we need to get lunch again soon.

Quoting Aurele
Hello Fool,

I've been reading your whole thread these last couple of days, and it was very interesting and instructive. Thanks for sharing your experience! I see you've not been posting in the last months, hope everything is well in futures land.

I've started demo-trading recently and I didn't find anything about your demo-trading experience. Could you talk about your learning curve in the beginning? And the main differences between demo and live accounts with your scalping system?

Aurčle
  • #1,325
  • Apr 18, 2011 1:20am Apr 18, 2011 1:20am
Quoting Aurele
I've started demo-trading recently and I didn't find anything about your demo-trading experience. Could you talk about your learning curve in the beginning? And the main differences between demo and live accounts with your scalping system?

Aurčle
Hello A.,

Honestly I consider myself still way down on the steep bottom end of the trading learning curve. But since you asked I will tell you what I think. Demo trading has good uses - i.e., learn all of the ins and outs of your various trading platforms in demo. If you are scalping its a good idea to test execute your various scalping strategies in demo. But neither one of the latter need take much time.

Otherwise I think its better to put some real skin in the game. Enough to hurt some when you lose it all. Trading is a psychological battle wherein you must consistently be able to kill a losing trade, decide to stay in a winning trade, etc etc if you are to survive and prosper. Making or not making these crucial decisions with play money carries little of the psychological weight of doing so with real Gelt.

When you are starting out its likely that you will lose money, so don't put anything up that you can not afford to lose. I hope you score big, though - good luck & hope the above helps.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,326
  • Apr 18, 2011 1:56am Apr 18, 2011 1:56am
Quoting sam0182
I'd also like an update, TF

Hope all is well man, we need to get lunch again soon.
Hey Sam,

I am doing well & hope you are as well. I have several trips to Tri-Cities on the horizon and I will hope to meet up with you and drink that beer.

I have been very busy since the new year with a couple new business ventures and ongoing engineering projects. I am still trading actively but at nowhere near the level I was involved last year. I still scalp spot forex around the opens and at big news but I am not in it every day. The best money I made so far this year has been in oil futures. I have most of my stake in a futures account now and I have found trading commodities to be easier than spot forex.

Are you still working towards managing opm? I still entertain that idea but I have my doubts that I will make the leap very far beyond perhaps a handful of investors. If I lived to trade it would be different - but I don't. However, I am interested in JV'ing in something along those lines. I just don't want to be tied to the markets personally day in day out that's all.

Well, its good to check back in here now and then but I am out of the habit of foruming and that is a good thing. I definitely trade better & with more focus when I am not paying attention to what a pile of other people are doing. Plus I don't really have enough hours in a day anyway and the time I used to spend trolling the forums is better spent now.

Trade safe, amigo.

Rich
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,327
  • Apr 20, 2011 3:55pm Apr 20, 2011 3:55pm
Hi TF!

Man its been a loong while. Glad to hear you're doing well with Futures. I actually was about to send an email to a CTA I know about advise on how to get started trading futures....I read it is more lucrative and the same as you mentioned below, easier to trade than forex.

Can you point me in the right direction on how to get started?

What's the minimum required to invest? Someone mentioned that FX is like futures on steroids..


Quoting The Fool
Hey Sam,

I am doing well & hope you are as well. I have several trips to Tri-Cities on the horizon and I will hope to meet up with you and drink that beer.

I have been very busy since the new year with a couple new business ventures and ongoing engineering projects. I am still trading actively but at nowhere near the level I was involved last year. I still scalp spot forex around the opens and at big news but I am not in it every day. The best money I made so far this year has been in oil futures. I have most of my stake in a futures account...
  • #1,328
  • Edited 8:25pm Apr 20, 2011 8:15pm | Edited 8:25pm
Quoting myfxjournals

Man its been a loong while. Glad to hear you're doing well with Futures. I actually was about to send an email to a CTA I know about advise on how to get started trading futures....I read it is more lucrative and the same as you mentioned below, easier to trade than forex.

Can you point me in the right direction on how to get started?

What's the minimum required to invest? Someone mentioned that FX is like futures on steroids..
re: futures - just open a demo account at one of the big shops - Global or Infinity or Amp or Mirus etc etc and learn to use the platforms. Some of em will call/email bugging you to fund a real account. When you are ready, day trading margins are pretty low so you can daytrade e-mini index and currency futures with a couple grand to start. Other futures contracts have steeper margin requirements.

true volume data is available in the futures markets - you can use that to your advantage. But I wouldn't say it is easy by any means and you can still lose your a$$ in a hurry if you are careless.

for me what is easier is factoring realtime fundies and news data into trading the commodities. moreso than currencies. here have some links

http://www.cmegroup.com/

http://globalfutures.com/

http://www.interactivebrokers.com/ibg/main.php

IB is cool you can have an account trading FX futures options and stocks all with common equity makes for some very versatile possibilities for hedging.

Good Luck.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,329
  • Apr 24, 2011 5:53am Apr 24, 2011 5:53am
Quoting The Fool
Hello A.,

Honestly I consider myself still way down on the steep bottom end of the trading learning curve. But since you asked I will tell you what I think. Demo trading has good uses - i.e., learn all of the ins and outs of your various trading platforms in demo. If you are scalping its a good idea to test execute your various scalping strategies in demo. But neither one of the latter need take much time.

Otherwise I think its better to put some real skin in the game. Enough to hurt some when you lose it all. Trading is a psychological battle...
Thanks for your insights Fool. I'll probably start live trading with some spare money then, as soon as I have a little edge.
  • #1,330
  • Apr 24, 2011 4:12pm Apr 24, 2011 4:12pm
Quoting The Fool
Hey Sam,

Are you still working towards managing opm? I still entertain that idea but I have my doubts that I will make the leap very far beyond perhaps a handful of investors. If I lived to trade it would be different - but I don't. However, I am interested in JV'ing in something along those lines. I just don't want to be tied to the markets personally day in day out that's all.
Long ways off but yes. A recent trip overseas opened my eyes a little to how much opportunity there is out there regarding opm management. Seeing the big picture can be extremely motivating, no matter how far away it may be.

Glad to hear futures are going well for you. I imagine many of us will gravitate towards that as funds increase and time zones free up (ie no day job).

Shoot me a PM if you swing by...weather is finally getting nice here in SE Wash.
  • #1,331
  • Apr 25, 2011 11:25am Apr 25, 2011 11:25am
Hi The Fool,

I started reading some journals and now just wanted to follow on some. I understand you scalp, but what is your DAILY target in terms of PIPS? You mentioned 4% target DAILY. Try out Trade Explorer here on FF. I am suggesting this to others because it can help immensely in identifying ones trading tendencies, and help improve. Here's more info - http://www.forexcrunch.com/forex-fac...-trading-tool/. Based on your experience thus far, what do you see as some of your weakness; things to improve better to become even better trader?

Take care.
  • #1,332
  • Jul 6, 2011 9:34am Jul 6, 2011 9:34am
I guess the absence of a response = account wipeout
Fool are you still with us?
  • #1,333
  • Jul 6, 2011 9:53am Jul 6, 2011 9:53am
Quoting andys0506
I guess the absence of a response = account wipeout
Fool are you still with us?
Busy with other work and no time for posting id guess.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,334
  • Jul 19, 2011 2:21am Jul 19, 2011 2:21am
I lost my old email so im using 'sebastionay2' instead of sebastionay now.

Why have you stayed with forex instead of futures? Commodities seem much easier to predict and have good volatility.
  • #1,335
  • Jul 20, 2011 1:32am Jul 20, 2011 1:32am
Quoting andys0506
I guess the absence of a response = account wipeout
Fool are you still with us?
Hi there,

I still check into FF to read the news selections and browse some of the posts, but I lost my taste for posting much this year. That habit, for me at least, was definitely counterproductive.

I have several business interests away from trading - some new, some sameold sameold, and I am more or less consumed with those, more or less happily so.

My trading activity is not as intense as it was when I first started daytrading fx 2 years ago, although I am still an active trader. I still have a spot fx account and I still occasionaly scalp E/U or other majors around the opens and the big news shows, but my serious trading is in futures and options and I am not typically doing short tf trades there. I also trade stocks, ETF's mostly.

I have made a pretty serious effort to learn to trade oil and energy-related instruments this year and that has paid off, although I am still a novice, of course.

So I started out scalping E/U almost exclusively, lost money and made it back, and in the process found that my approach to trading is mostly fundie-related, and, as such, is more naturally geared toward trading longer tf's. I think those major fx pairs are the plaything of institutional hft and it is just much simpler to me now to trade on fundies mostly, with instruments that relate to fundies more directly.

My goal now in trading is to trade larger and larger and to manage risk via hedging across instruments. I want to attract a select small group of investors to trade for and the kind of people I have access to are likely going to relate to fundy-based and longterm trading over scalping.

I complained in this thread about my geographical location being the worst possible for trading the european session and I suffered through many nights till the crack of dawn trading 10-15 scalps an hour but no more. I need screen time every day to read the news and look at charts but it is less important what time of day I get that done when I am thinking about a trade I might hold for a week or a month.

So, that's where I'm at. I am not offering advice and I am not an example or a role model for anybody - everybody must find their own way in this game. 4% a day consistently? Sure, let the dream live on. But I'd be happy now with consistent 4% a month on unleveraged trades that can be made in the $1mio a pop and up range - that's where I'd like to go.

And if it doesn't happen, I will still be happy. The things that really make me happy are not related to money at all. This realization is gold.

Which I'm drooling to short, btw, but that's another story..

Good luck, ya'll.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,336
  • Jul 20, 2011 7:26am Jul 20, 2011 7:26am
I think your doing the smart thing, its easier to predict commodities than FX from my experience of it atleast. Could be waiting a couple of years to short gold in a big way though.
  • #1,337
  • Jul 20, 2011 3:50pm Jul 20, 2011 3:50pm
Thanks for the update TF, we'll have to grab a beer sometime this summer.
  • #1,338
  • Aug 26, 2011 12:01am Aug 26, 2011 12:01am
http://www.nasa.gov/images/content/5...-GOES_full.jpg
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,339
  • Edited 4:17am Aug 31, 2011 3:17am | Edited 4:17am
http://www.opradata.com/faqs/faqanswers.jsp#faq5

http://www.nyxdata.com/page/1047

http://daytrading.about.com/gi/o.htm...ww.iqfeed.net/

http://www.gfigroup.com/DataMarketData.aspx?id=110

http://www.afma.com.au/data/afmadata.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,340
  • Oct 4, 2011 3:35am Oct 4, 2011 3:35am
Quoting The Fool
http://www.opradata.com/faqs/faqanswers.jsp#faq5

http://www.nyxdata.com/page/1047

http://daytrading.about.com/gi/o.htm...ww.iqfeed.net/

http://www.gfigroup.com/DataMarketData.aspx?id=110

http://www.afma.com.au/data/afmadata.html
Sorry i didnt read the whole thread. I see you started 2 years ago with 4% a day goal. How did it go? what was your real performance in last 2 years?
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