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5 years and still no strategy

  • #1,821
  • Edited 4:07pm May 18, 2017 3:51pm | Edited 4:07pm
Quoting shiva
{quote} Interested. How much is the "cash" required to demonstrate this? And how long would it take to make the capitalizer gain confidence?
i can demonstrate with very little Money. What Im asking is too much from a stranger. Best way maybe is what was mentioned - ill start a trading journal.
I trade 4-6 sessions a week. So one month of great data would be the equivilent to doing 4 months. Theres no way you can fluke intraday trading for a month. Trade explorer its percentages and pips seem BS.
Profit factor and the trader explaining how they trade seems a more adequate way of stating ones skill.
i just have to prove it.
  • #1,822
  • May 18, 2017 3:59pm May 18, 2017 3:59pm
Quoting jmn5611
{quote} That was an remarkably honest post WolGod. Not many on this forum would confess to not having enough to trade a single lot. Bravo. Keep that up and you will get where you need to be in due time. I am presuming you are in your late teens to early twenties. {quote } Indeed. The lead singer of Soundgarden just offed himself shortly after performing in front of a sold out stadium. Young people seem to think a hot chica and a fast ride is happiness. It is not. That car is going to get old and so is that chica. Happiness is being in full control...
No im much older hence the rush.
Ill just have suk it up and go another year. Lol. Of course i can get $10k or so but even at 2:1 great trading thats a year before whole life back on track where I want it to be. You have to understand ive been at it relentlessly for 4/5 years. Spent all
savings I had, I gave up it all. Girls / job / any life at all just did this all day everyday. Serious. Why? Because i knew what id seen and been taught was the "holy grail" so to speak. And I had a lot to learn. But the holy grail isnt a robot or something easy you still need to understand the whole market and thats experience. (Which we all very niave until we do that).
  • #1,823
  • May 18, 2017 4:02pm May 18, 2017 4:02pm
Quoting WolGod
{quote} i can demonstrate with very little Money. What Im asking is too much from a stranger. Nest way maybe is what was mentioned - ill start a trading journal. I trade 4-6 sessions a week. So one month of great data would be the equivilent to doing 4 months. Theres no way you can fluke intraday trading for a month. Trade explorer its percentages and pips seem BS. Profit factor and the trader explaining how they trade seems a more adequate way of stating ones skill. i just have to prove it.
if i see a straight equity line..i'm gonna call your no s/l typical blowup bullshit.

in fact...please have some realistic DD and recovery along the way..

tired of these "to infinity" equity..
  • #1,824
  • May 18, 2017 4:31pm May 18, 2017 4:31pm
Quoting jmn5611
{quote} Not many on this forum would confess to not having enough to trade a single lot.
I don't trade a single lot.
I put the money I can afford to lose (50-100 euros) to my O@nda account at the beginning of the month, trade, pick up the money (if any) at the end of the month, have beer at the Biergarten for it. Rinse and repeat.
I have a good job, trading is just a hobby for me. I invest more money in a gym membership monthly.

k
(The account stands at 712.35 euro currently for this month. )
  • #1,825
  • May 18, 2017 4:43pm May 18, 2017 4:43pm
Quoting hilmy83
{quote} if i see a straight equity line..i'm gonna call your no s/l typical blowup bullshit. in fact...please have some realistic DD and recovery along the way.. tired of these "to infinity" equity..
Yeah i was wondering about those on trade explorer.
no no i definetly have strict calculated risk.
  • #1,826
  • May 18, 2017 4:54pm May 18, 2017 4:54pm
Quoting kprsa
{quote} I don't trade a single lot. I put the money I can afford to lose (50-100 euros) to my O@nda account at the beginning of the month, trade, pick up the money (if any) at the end of the month, have beer at the Biergarten for it. Rinse and repeat. I have a good job, trading is just a hobby for me. I invest more money in a gym membership monthly. k (The account stands at 712.35 euro currently for this month. )
amazing


People!! ask yourself this simple question, is it a job ? just to pay the bills... "hmmm no, because I already have a job"...
is it a PROFESSION ? no, because I'm not a floor trader
is it a HOBBY ? maybe but I don't like it.

so why are you trading ?????
  • #1,827
  • May 18, 2017 5:03pm May 18, 2017 5:03pm
Quoting HeyYou
{quote} no, because I'm not a floor trader is it a HOBBY ? maybe but I don't like it.
Well I never said I didn't like it. I learned quite a lot, which is always useful. I think I may have helped a few people, which is good karma. And it was a quite cheap hobby (getting cheaper by the minute).

Quoting HeyYou
{quote} so why are you trading ?????
Mainly for the beer these days. Southern Germany gets hot in the summer.

Cheers,
k
  • #1,828
  • May 18, 2017 5:06pm May 18, 2017 5:06pm
Quoting HeyYou
{quote} amazing People!! ask yourself this simple question, is it a job ? just to pay the bills... "hmmm no, because I already have a job"... is it a PROFESSION ? no, because I'm not a floor trader is it a HOBBY ? maybe but I don't like it. so why are you trading ?????
call it hobby, profession, addiction..whatever
i do it for one reason, and one reason only..

Inserted Video
  • #1,829
  • May 18, 2017 5:11pm May 18, 2017 5:11pm
Quoting jmn5611
{quote} I would add to this the books from Al Brooks and Edwards and Magee. But I think the OP knows the basics. I think his trouble was inconsistency.
well mister, if i remember right the problem you refer to is adressed pretty clearly and without doubt in van tharp book

the idea in the book is that you should see a trade made under a SYSTEM of yours as one in a million with a x% win expectancy over the one million trades
The risk is what gives value to an investment.
  • #1,830
  • May 18, 2017 5:13pm May 18, 2017 5:13pm
Quoting kprsa
{quote} I don't trade a single lot. I put the money I can afford to lose (50-100 euros) to my O@nda account at the beginning of the month, trade, pick up the money (if any) at the end of the month, have beer at the Biergarten for it. Rinse and repeat. I have a good job, trading is just a hobby for me. I invest more money in a gym membership monthly. k (The account stands at 712.35 euro currently for this month. )
Now this thread has gotten interesting. We are seeing the different types of people at this forum. Hobby traders, full timers, aspiring traders, really neat stuff.
If you are good at something, never do it for free--Joker
  • #1,831
  • May 18, 2017 5:18pm May 18, 2017 5:18pm
Quoting kprsa
{quote} Well I never said I didn't like it. I learned quite a lot, which is always useful. I think I may have helped a few people, which is good karma. And it was a quite cheap hobby (getting cheaper by the minute). {quote} Mainly for the beer these days. Southern Germany gets hot in the summer. Cheers, k
Sorry, I know you know what you're doing, the question wasn't directed to you but to those who trade for no reason.

I don't mean that being crazy is bad, hilmy83 is a perfect example, crazy but successful in whatever he's doing..
  • #1,832
  • Edited 5:48pm May 18, 2017 5:30pm | Edited 5:48pm
Quoting VEEFX
{quote} I would love to hear about your journey building such a great business. If those cars are really all yours, how did you go about growing such a huge inventory? Business loan/lease or this is your family business built over 2+decades? i am exploring myself getting into the luxury rental market. Huge demand living in an affluent neighborhood I see around me.
First of all I started with my cousin. We had 8-5 job and use our money to get the lease. Without having a job, leasing is hard but it's possible if you got the minimal down payment and consistent monthly earning from other passive income.
Anyhow, we leased 2 family cars (Toyota Avanza). We rented to companies who need cars for daily operational and don't want to own one due to asset depreciation, taxes, obligation to pay the lease contract, car service, driver etc. Because companies don't want to take that risk or don't want to bother with non core business asset, they risk transfer to car rental provider who is us.
Then we piggy back with couple of rental company and take commission of it because the demand keep increasing exponentially.
As demand increase, we took risk leasing more family cars for companies.
Then out of the blue some one asked for a wedding car and more people started to asked for it.
So we leased several E and S classes and Toyota Alphard.
Then down the line, me and my cousin separated making our own rental business but we still share some assets.
We separate the business so there won't be any fight over money and our family relationship won't break due to this business matter.
Later we bought 2nd hand super cars or pawned super cars (because the owner got it illegaly/didn't pay taxes for it).

Regarding the garage, we rent a roof top of a mall. They reserve the roof top for us. There is where we parked our cars and nobody know if up there, there are luxury cars.
This is not investment/trading advise. Will not hold accountable for loss
  • #1,833
  • May 18, 2017 5:33pm May 18, 2017 5:33pm
Quoting kprsa
{quote} I don't trade a single lot. I put the money I can afford to lose (50-100 euros) to my O@nda account at the beginning of the month, trade, pick up the money (if any) at the end of the month, have beer at the Biergarten for it. Rinse and repeat. I have a good job, trading is just a hobby for me. I invest more money in a gym membership monthly. k (The account stands at 712.35 euro currently for this month. )
the points to take from this post are (in reverse order , counterclock)

1 poster drinks beer monthly if he has a profit
2. following a profit month poster grows a large belly
3. goes to gym to stress that belly cords

rinse and repeat monthly
The risk is what gives value to an investment.
  • #1,834
  • May 18, 2017 5:38pm May 18, 2017 5:38pm
Quoting 3cent
{quote} the points to take from this post are (in reverse order , counterclock) 1 poster drinks beer monthly if he has a profit 2. following a profit month poster grows a large belly 3. goes to gym to stress that belly cords rinse and repeat monthly
fucking brilliant
  • #1,835
  • May 18, 2017 5:39pm May 18, 2017 5:39pm
Quoting 3cent
{quote} the points to take from this post are (in reverse order , counterclock) 1 poster drinks beer monthly if he has a profit 2. following a profit month poster grows a large belly 3. goes to gym to stress that belly cords rinse and repeat monthly
It's a perfect plan. The problem only occurs if I earn too much. (I'm basically screwed if oil goes further north.)
k
  • #1,836
  • May 18, 2017 6:10pm May 18, 2017 6:10pm
Quoting VEEFX
{quote} one more Q... how do you deal with depreciating assets and increasing cost of maintenance. it takes $3K just to do a freaking oil change in supercars. A minor scratch and $10K in value lost, $1K miles and another drop in valuation etc (assuming your cars are bought outright and not on loan)
We do the oil change by our self to reduce costs.
Minor scratch (we have full coverage car insurance). They will change it to a new car if the car is 80% damaged. Else they call the car dealer to change the spare part that was broken i.e. fender/bumper etc.
Regarding super cars, we rented at high price. Like $10k per day and people still rent it. Here a ferrari 458 retail is like at least $800K.
So $10k per day for experience is nothing rather than have the obligation to pay the lease and pay the 30% down payment. And for Ferrari 458 we have at least 10 car rent per month.
Yes there's always that kind of drop in valuation risk, because of that we rarely drive the super cars for our self in order to slowdown the devaluation per miles.
This is not investment/trading advise. Will not hold accountable for loss
  • #1,837
  • May 18, 2017 6:44pm May 18, 2017 6:44pm
Quoting RondaRousey
{quote} For me it is not a job or a profession or a hobby. The question is do you any talent for trading? is it your calling? what trades have you done to show you have some talent for trading? If you don't have talent for trading that is okay too. So go and find what you are good at. To stay too long at something that you are not good at is a complete waste of time and money. With trading it is not something that you want to stay too long at and spend lots of money and find out in the end you have no talent for trading. So for me it is reaching...
All you need is analytical skills and faith in statistics, I lack faith so I care more about MM and transaction costs.

no it's all about finding the HALFWAY
  • #1,838
  • Edited 10:26pm May 18, 2017 6:56pm | Edited 10:26pm
Quoting VEEFX
{quote} Very cool. Thx for sharing. $10K/day is a lot. I could probably half of that out here. One more question if you don't mind... how much % of your NET monthly or annual pre-tax profits (after income and expenses) do you preserve for future out of pocket expenses, re-invest into buying new cars etc
Im grateful to the Lord that I have enough to house my 10th or 20th or so on generations.
The money I earned i invested and take stake to my wife uncle' insurance company which i use to insure the cars. I also invest some of it into banking sector especially in banking technology sector, some of it back into the car rental business and the rest into my private trading businesses.
This is not investment/trading advise. Will not hold accountable for loss
  • #1,839
  • May 18, 2017 7:22pm May 18, 2017 7:22pm
Quoting VEEFX
{quote} I have a friend who works here and pushing me to invest in classic cars. He is making some good $$$ from his own investments apparently. I might auction off my Levante and get a classic lol {image}
in the US, classic car is a lucrative business as long there are wealthy people and love classic cars.
If you want a classic get Merc SLS, but what's the point if it is almost impossible to drive due to its delicate nature LOL.
But if you want it as an investment, I highly suggest you to put it in the middle of your living room and covered with glass LOL to keep it pristine for the next 10 to 30 years. The price would be astronomically higher by then, I guess and hope.
This is not investment/trading advise. Will not hold accountable for loss
  • #1,840
  • May 18, 2017 7:58pm May 18, 2017 7:58pm
Quoting RondaRousey
{quote} LOL. This is my def. MM is any technique that tries to prevent a disaster from happening. An artificial one at that. But why try to prevent a disaster from happening when you can profit from it? A trading disaster can happen so embrace it.

Exactly...why majority are afraid of loses and mistakes, disasters and other bad stuff? Is that the reason why many traders quit trading because of the loses and mistakes? Since loses and mistakes are bound to happen, why resist them? let them happen and through chaos you can see the light...

Why does we only know the real trend or destination of the market after a big loss or after losing our account? that is because mistakes has to happen first before you can see what is right. In forex trading, you can have the power to make mistakes as many as you can and still make right trading decisions in the end...how?

Here's a suggestion, create a cent account, demo account or join a trading contest, trade it like there's no tomorrow, allow yourself to make many mistakes as possible in that account, let greed and bad stuff flourish in that account......those mistakes you perform on your demo or cent account will eventually show you the right way...on the other hand get ready with your real account and only perform good trades in there. You actually need two accounts, one for sin account where all the bad stuffs mixed together, and one account for correction purposes. You see, you are unleashing your bad sides not holding it back...let your bad trades and mistakes show you the right way (make it your guide), use it to your advantage, don't fear it! Let's try to reverse things, instead of being afraid to make mistakes...we shall welcome them...it's fear of the lose and mistakes that eventually make us quit trading while other traders are already making loses and mistake as their weapons...

I got to tell you something...by making mistakes you can make things right (only in forex world)...do not try to perfect the market or your trading...it's pointless (only really skilled and wise trader can do that, while majority of us are not )

See? if we allow the bad stuff to flourish and not confine or prevent it and do it in a separate account, we can get what we want in the end. No more fear to lose, no more fear to make mistakes, you cater for every possible things to happen in your trading...just a matter of practice. I bet some smart and wise traders are doing this already behind the scenes...

Just an alternative solution to think about...why I arrive to this thoughts because I tried it at one point and it's liberating...no need to fear mistakes and loses! You can keep doing both the good and the bad stuff in separate accounts. It's doable if you believe!
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