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I trade my own account for a living. Tell your story

  • #301
  • Dec 8, 2013 1:30pm Dec 8, 2013 1:30pm
Quoting Chicky
Ok, the show is over, time to make my daily 10% with max dd of 20%

Daily, that's different even I can only hit 8% per day LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #302
  • Dec 8, 2013 1:46pm Dec 8, 2013 1:46pm
Did you Spamming Bitches just take over and destroy another thread?



If you don't qualify to repsond by the thread title, why are you polluting this house?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #303
  • Dec 8, 2013 1:49pm Dec 8, 2013 1:49pm
Quoting Magix
Did you Spamming Bitches just take over and destroy another thread? If you don't qualify to repsond by the thread title, why are you polluting this house?
The point is if one wants to trade for a living should be able to profit consistently and this is not an easy task

But you are right , a lot of useless stuff
The Thief of Wall Street
  • #304
  • Dec 8, 2013 1:55pm Dec 8, 2013 1:55pm
Quoting Chicky
{quote} The point is if one wants to trade for a living should be able to profit consistently and this is not an easy task But you are right , a lot of useless stuff
Chicks,

Near as I can figure...in the trio, you are the only one who should be responding.

Whether you are now, is irrelevant. You've made it to the show. You have a message worth listening to.

This is a job.

It's not about driving a Maserati, living in paradise or having a playboy bunny under each arm...it is a job, like any other job.

Learning respect for this and having a realistic target has always been your greatest message. This is the secret to market.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #305
  • Dec 8, 2013 2:24pm Dec 8, 2013 2:24pm
Quoting Chicky
{quote} I am not kidding. Why don't you try generating 10% a month with max drawdown of 20%. Maybe I cannot do this only because I am a lousy trader. Some good traders may like to try. If you are already doing it, just let me know why you still have not bought Sardinia?

I don't DD 20%.

Small targets, consistent gains and though I don't shoot for a set %/mo, I take what I need to take.

Might well at least try to keep on topic...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #306
  • Dec 8, 2013 2:26pm Dec 8, 2013 2:26pm
Quoting Magix
{quote} Chicks, Near as I can figure...in the trio, you are the only one who should be responding. Whether you are now, is irrelevant. You've made it to the show. You have a message worth listening to. This is a job. It's not about driving a Maserati, living in paradise or having a playboy bunny under each arm...it is a job, like any other job. Learning respect for this and having a realistic target has always been your greatest message. This is the secret to market.
Finally someone who cares. They almost got me.
The Thief of Wall Street
  • #307
  • Dec 8, 2013 2:30pm Dec 8, 2013 2:30pm
Quoting Chicky
{quote} Finally someone who cares. They almost got me.
of course they will get you....you are surounded by full time traders and forex milionaires here on ff.com..
  • #308
  • Dec 8, 2013 2:33pm Dec 8, 2013 2:33pm
Quoting Magix
{quote} I don't DD 20%. Small targets, consistent gains and though I don't shoot for a set %/mo, I take what I need to take. Might well at least try to keep on topic...
This is the way. Full time traders have the time to take several trades a day and they are there to benefit from developing opportunities. Small trades, many of them in a year, small gains and small losses. This should be the life of a day trader. A reasonable edge and he/she is there with proper money management. This is so simple and repeated so many times that has lost it's value
The Thief of Wall Street
  • #309
  • Dec 8, 2013 2:42pm Dec 8, 2013 2:42pm
Quoting Chicky
{quote} Finally someone who cares. They almost got me.
My previous pro trade summary...

====================
Market perception based on correlation for multiple pairs are observed and the bulk of positions taken are on the USD and its currency based pairs. The primary trade sessions are London and into US market times, typically not allowing any trade to be held open passed the US session close, leaving no overnight nor weekend open positions.

Depending on liquidity and volatility by events during the traded sessions, entries are taken based on price movement in relation to the major session open and close of day prices and the marketed traded ranges. Entries are based by trigger on trends and played through to expected pivotal points based on the immediate market trend. All entries are short term based and re-entered in upon clearing crucial price reaction zones, closed manually on trend reversals with a stop loss based on the daily range, not to exceed 3%.

====================

This was a primary copy of a trade based summary that was sent to clients when taking over their account.

As an idea and somewhat of an industry standard, 3% loss on any single trade was auto closed. A time out to reflect followed.

And believe me, if you hit this once, you are shit scared to ever hit it a second time.

If and when you are ever afforded the opportunity to trade in funds that are not of your own, there is a greater appreciation for how fast market can move. AGAINST YOU!

Bottom line is always the bottom line and more than you can imagine, any investor will appreciate 0% gains over a single maxed out trade.

Taking this same thing into consideration, can help you trade like money trades.

This is based on a day trade, high risk strategy. Not intended for those that swing, but are more into smaller profits and consistent gains.

If you hit 6-7 figures in an account and trade funds that do not belong to you, only then can you appreciate fully what this statement truly means.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #310
  • Edited 5:39pm Dec 8, 2013 2:47pm | Edited 5:39pm
I am a full time trade, I trade daily charts.

It took me a long time before I figured it out, I read everything, I was looking into wrong places… Was that all a waist of time? No, I was able to turn that into positive factors….

I am tenacious as a person, I do not let it go…….I was like that into my previous own businesses…. that could be a prerogative but in trading maybe not…… I had to change, I had to let it go……..I was not treating this as a business………it became all too personal……..now I try to set my mind into a flowing position, I only take what the market is given me……..I do not force the market…… I am in tune…..into the zone……..I do not find myself just there, I work every day to stay there…….Yoga and breathing meditation helps….for me...
Wherever you go, there you are.
  • #311
  • Dec 8, 2013 2:50pm Dec 8, 2013 2:50pm
Quoting Chicky
{quote} This is the way. Full time traders have the time to take several trades a day and they are there to benefit from developing opportunities. Small trades, many of them in a year, small gains and small losses. This should be the life of a day trader. A reasonable edge and he/she is there with proper money management. This is so simple and repeated so many times that has lost it's value

I think long tail trading is better. Costs are kept low, opportunity for return is infinite. Spend an hour or so at your computer managing positions, and then go golfing.
If you are good at something, never do it for free--Joker
  • #312
  • Dec 8, 2013 2:54pm Dec 8, 2013 2:54pm
Had a real great time reading the last posts. Thanks guys. Now, pls I'd appreciate if we could stick to trading OUR OWN ACCOUNT on this thread.

I'd also like to clarify that when I say "fulltime" I am referring to independent traders that make a living out of trading and not being specific to how many hours they dedicate to trading. You can be a position trader taking one trade per year, as long as you take your profits to pay your bills you'll qualify into the discussion.
  • #313
  • Dec 8, 2013 2:54pm Dec 8, 2013 2:54pm
Quoting Magix
{quote} Chicks, Near as I can figure...in the trio, you are the only one who should be responding. Whether you are now, is irrelevant. You've made it to the show. You have a message worth listening to. This is a job. It's not about driving a Maserati, living in paradise or having a playboy bunny under each arm...it is a job, like any other job. Learning respect for this and having a realistic target has always been your greatest message. This is the secret to market.
It is indeed a job acquiring and then implementing the intellectual property. Getting that will take years for most. I do wonder why people sit in front of a monitor 8-10 hours a day and hand brokers their money in the way of commissions and spreads. Why not go for building a position?
If you are good at something, never do it for free--Joker
  • #314
  • Dec 8, 2013 2:54pm Dec 8, 2013 2:54pm
BTW, the only reason any experienced independent trader isn’t making 10%, 20% or more monthly and consistently is because he/she doesn’t truly believe he can and mostly because he can’t mentally handle their equity reaching a certain amount. This is the kind of trader who doesn’t know or care about how to prepare his mind to trade 5, 10 or 50 lots when the time arrives, i.e. he doesn’t really believe HE will ever reach that level anyway so its not even an issue.
  • #315
  • Dec 8, 2013 3:01pm Dec 8, 2013 3:01pm
Quoting tradista
Had a real great time reading the last posts. Thanks guys. Now, pls I'd appreciate if we could stick to trading OUR OWN ACCOUNT on this thread. I'd also like to clarify that when I say "fulltime" I am referring to independent traders that make a living out of trading and not being specific to how many hours they dedicate to trading. You can be a position trader taking one trade per year, as long as you take your profits to pay your bills you'll qualify into the discussion.
Thanks.

I am a position trader. I take a certain number of trades per day. It is based on what support and resistance is from looking at naked price action. I set my orders, and then go do something else. The next day, I come back. If those trades did not work out, I close them and keep on going. Read up on Peter Crowns, Samuel Gramae to get the concept. You are going to take a LOT of small losses. Think in terms of quarterly profit rather than daily profit, just like the big boys do.
If you are good at something, never do it for free--Joker
  • #316
  • Dec 8, 2013 3:03pm Dec 8, 2013 3:03pm
Quoting jmn5611
{quote} It is indeed a job acquiring and then implementing the intellectual property. Getting that will take years for most. I do wonder why people sit in front of a monitor 8-10 hours a day and hand brokers their money in the way of commissions and spreads. Why not go for building a position?

Almost any position with enough patience and adequate account coverage can assumably and eventually become prosperous.

The individual trader is defined by the amount of time between opens and closes.

Trading a stock 1:1 R:R is as far as I am concerned, coin toss trading. Like any business that allows a gamble, some will prosper, most will be consumed.

We are on the same page, my level of patience is what gets the better of me.

I am not a Currency investor. I prosper based on opportunity.

In like a lamb, out like a lion.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #317
  • Dec 8, 2013 3:04pm Dec 8, 2013 3:04pm
Quoting milam
I am a full time trade, I trade daily charts. It took me a long time before I figured it out, I read everything, I was looking into wrong place… Was that all a waist of time? No, I was able to turn that into positive factors…. I am tenacious as a person, I do not let it go…….I was like that into my previous own businesses…. that could be a prerogative but in trading maybe not…… I had to change, I had to let it go……..I was not treating this as a business………it became all too personal……..now I try to set my mind into a flowing position, I only take...
Excellent!

Very close to what I do except that I trade LTF.
The single most important factor is having control of your own life.
  • #318
  • Dec 8, 2013 3:11pm Dec 8, 2013 3:11pm
Quoting Mikkk01
{quote} Excellent! Very close to what I do except that I trade LTF.
Excepting the fact that you, "Do Not Trade Your Account for a Living".

Ergo.

Until you have reached said milestone in your life, it better you sit and appreciate a word from others that do.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #319
  • Dec 8, 2013 3:22pm Dec 8, 2013 3:22pm
Quoting tradista
BTW, the only reason any experienced independent trader isn’t making 10%, 20% or more monthly and consistently is because he/she doesn’t truly believe he can and mostly because he can’t mentally handle their equity reaching a certain amount. This is the kind of trader who doesn’t know or care about how to prepare his mind to trade 5, 10 or 50 lots when the time arrives, i.e. he doesn’t really believe HE will ever reach that level anyway so its not even an issue.
Experienced trader must posses all the qualities you've mentioned. If one doesn't that means he has no clue about psychological side thus he's not experienced. If of course you define experience as qualities - as opposed to time spent on related activities.
The single most important factor is having control of your own life.
  • #320
  • Dec 8, 2013 3:24pm Dec 8, 2013 3:24pm
Quoting Mikkk01
{quote} Experienced trader must posses all the qualities you've mentioned. If one doesn't that means he has no clue about psychological side thus he's not experienced. If of course you define experience as qualities - as opposed to time spent on related activities.


Quoting tradista
I'd also like to clarify that when I say "fulltime" I am referring to independent traders that make a living out of trading and not being specific to how many hours they dedicate to trading. You can be a position trader taking one trade per year, as long as you take your profits to pay your bills you'll qualify into the discussion.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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