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I thought Goldman Sachs only takes minimum $10 million accounts if you want to use them as your broker.

Some stocks in the news make fantastic moves, but you better get the direction right, which is not an easy thing to do. For example, anyone who tried to buy GMCR's 40% gap down on 5/3 instantly lost another 17% without using any leverage.

Assuming you're an attractive female model, how does dinner at Paris McDonald's sound? You can get a Happy Meal :)

I'm embarrassed to say 15 years ago I book Russel Sands' trading manual for $200. It taught very basic trend following with money management principles. Sad that he's trying to get $6,000 from mom and pop investors, which is to say it's a lateral move from the Retail Ghetto Trader.

Also look into Peter Brandt's Diary of a Professional Commodity Trader. He's a real trader who trades longer term chart patterns.

You are better off buying a very basic and low-cost book on technical analysis, such as by non-guru John Murphy, than to waste your time on expensive materials produced by gurus that promise you easy fortunes that can be achieved with minimal effort. Bruce Gould's Money Machine costs $2,500...

esnewbie made a fortune and retired ... the fortune being somebody else's and he retired because his account was wiped clean ... yes, I know the feeling too. Been there.

Schwartz can make 25%/month, but only on a limited capital base. Buffet was making 25%/year for decades, but accomplished that by levering it up by billions through insurance float. I would rather earn a smaller % return on billions than a very high % return on thousands, but most people's...

I don't daytrade, but if you look at where the volume is, there's a lot of day trade activity in leveraged etf pairs. Leveraged etfs are good short-term trade vehicles that make poor long-term vehicles of choices in rangebound markets. tna/tza fas/faz tvix/xiv...

Market Wizards 1, the 1st page of Marty Schwartz chapter: "Not only has Schwartz scored enormous percentage gains in every year since he turned full-time trader in 1979, but he has done so without ever losing more than 3 percent of his equity on a month-end to month-end basis."

If you read Market Wizards 1 and Pit Bull, Marty Schwartz was making 25% per month with never more than a 3% drawdown, however, he's probably one in 100,000 people. http://www.meetpips.com/members/TonyIommich/blog/28869-how-to-be-the-25-a-month-man

The market is the one area I would hesitate, or, in fact, be very fearful to boast because it often precedes the equity drop-off cliff.

Well, good for you, but for me I put in a lot of effort to earn a measly 7% return last year, though at one point during the year I was up as much as 67%. Ended up giving back 60% of the gains.

I think the main question is how one deals with the addiction. Does addiction lead one to merely become a second to second balance checker, or repetitions of similar mistakes in different market conditions, or can he break from the trance and learn something.

IMHO, annual returns and smoothness of equity curve are directly related to each other. A trader shooting for 100% returns probably expect 50% drawdowns, whereas if you're aiming for only 12% gain, you should only see a max loss of 6% throughout any point in time if your trading system or method...

Jack's book about Hedge funds with their billions in AUM have little applicability to the retail trader on ET. I would rather see Schwager have another book similar to Market Wizards 1 with recent successful individual traders who started with small capital bases.

Oscillator down to 5% level. Decision = buy. Market continues lower. Oscillator down to 3% level. Decision = buy more. Market goes down even more. Oscillator down to 1% level = buy yet more. Now market really tanks and equity is wiped out. Oscillator to 95% level. Decision = short. Market...

I wouldn't say easy. My equity has been like a rollercoaster due to aggressive positions. Trying to measure my Sharpe ratio would be a total effin joke.

Perhaps bipolar tendencies is more the product of being a trader rather than any inherent personal qualities. I have manic-depressive tendencies myself.

See my addicted to trading thread: http://www.elitetrader.com/vb/showthread.php?threadid=242011