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What happened to him is pretty common to guys who are relatively new to the game. They take incredible risks, use excessive leverage and get lucky on a few homeruns to overcome their stack of losses and then suddenly acquire the Superman complex even though they still don't really know what...

Hey, I wasn't critquing you, man, but just wanting to pass on crucial information. Yes, I think everyone would benefit from seeing other strategies out there. If your intentions for entering a prop firm is increasing capital, then that's reasonable. But if you're hoping to learn how to make a...

You churned out 68K from $2300 in 6 months and subsequently 100K from 15K in 4 months before blowing out and giving it all back. You're using leverage like crazy with no respect to risk. You're going for the quick buck and focusing too much on the reward and not enough, if any, on the risk...

If you're going to long everything at once, you're really putting all your eggs into one basket. Most of your stocks will move in uniform and hurt you all at once if there's a giant correction. Look into some hedging. Even if you think the market is going to take off, you shouldn't use up all...

He might not blow up in one sequence, but if he doesn't have a better system, he'll die from bleeding.

If you have a pretty functional model, why don't you let machines do it for you? I don't know how some people do this for at least 6.5 hours a day for like several years. Especially if you have kids or other obligations... Even if you have the stamina, it's a killer to the eyes.

Scalpers seem to have the most challenging tasks of all traders. Unless your system is automated and have machines doing all the work for you, I don't know how any of you can do it for more than a few months, let alone a few years. Stare the screen all day to catch 10-15 cents?? And risk...

I think more first-year traders blow out from single-event giant losses than from slow bleeding.

I'm not sure what you meant by that statement. In sports, yes, it's idealogical to want to win every game, but you can't carry that attitude for trading because sometimes you just have to accept your losses and move on and not go "all out" and risk further and more massive defeat.

Giannos, you need mandatory stop loss exits. If your typical profits are $60, $100, or $200, you CAN'T be stubborn and watch your losses jump to like 2 grand!?!! You really need a better money management system and a strict set of rules to prevent you from digging yourself into such a large...

Giannos, 20-30cents move in a 25dollar stock should not have the impact to "blow you out." You're trading size you can't handle. when i opened this thread, I thought you got killed by some big mover. And when you wrote that "AMAT ripped you apart yesterday," I thought AMAT had a giant move...

Dude, 20-30cent move, even on turtle MSFT can happen in half an hour or less. Your account should not experience that big chunk of a swing from such a small move.

Imagine if you were trading size you can't handle on BIDU. That might knock you out like a hurricane. It won't be 30cent hit, which is really nothing. but a $30 hit. You shouldn't get blown out if what you're trading moves only 30cents away!?!?!? That's just wreckless trading and...

If you're getting slaughtered by 20cent-30cent moves, you should reduce your size by a ton. Other people get hit by $5-10 moves. but 20-30cents???? If 20-30 cents can take you out, you're bound to blow out every week. You need a lot of disciipline to learn. Your risk is pretty...

I've been following this thread since the beginning. I've noticed that Dummy Variable is only around in this thread. He's not in any other threads, and it's so coincidental that he only shows up here to support you when you are in some heat. The timing is always so perfect. When you make a claim...

Dummy-variable is one of Maverick's other screennames. It's funny how the guy created screennames to respond to himself and pat his own back.

Say you have a system that determines what is presumed to be an arbitrage opportunity - wouldn't you say that strategy is a system in itself? Afterall, a system is bascially a base of preset strategies, criteria of your tactical decision making, and mechanical procedures. So if you pre-program...

Why is that Ansbacher guy making money almost every year for the past 20 years? Elite trader is a place where 95% of the traders aren't successful and probably don't know what they're doing, so of course, most of the responses here are very negative, at least that's what I'm feeling.

When was the market ever NOT manipulated? Welcome to trading and reality.

Arbitrage systems are "systems", no? I'd take that "system" over "trade by feel and hope it goes right" method any day!