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Perhaps such outburst allow some traders to blow off their emotions quickly and be ready for the next trade. I used to do they same in online poker. Take a bad beat, curse the site or the player or whatever. But when playing hundreds of hands per hour, and having to make a playing decision...

True, but that doesn't mean someone should jump into real money with their very first trade, right? Certainly sim trading has its place.

Won't you get filled on every loser but miss some winners this way?

NinjaTrader's market recorder will record the DOM action for playback later. It's not quite true backtesting, but you can playback each day and record the results by hand.

I work afternoons and some weekends now, which keeps my mornings and early afternoon free for trading. Unfortunately although my hourly rate is high, I work few hours a week, so I'm on subsistence levels right now. I'm still working on finding a successful trading method, but with this setup...

I wanted to search this entire thread for specific posts. So I clicked the "print" link on the upper right for this thread and it crashed my browser hard. But I was able to get the whole thing down in one file by right clicking that link and choosing "save target as". :cool:

Thank you f9, I will definitely be taking it slow. Hope the leg heals up nicely and you can make up for lost time soon!

Hello f9, I was curious about something and I was thinking of PM'ing, but I guess here is a good place to ask. I've read many of your posts and sought them out since you seem like someone who is very successful in a style of trading I would like to master myself. Anyway I was wondering...

Not quite. There were two record daily point declines in the dow in the week before black monday.

I just meant that the multipliers are arbitrary, except in how they affect commissions for us traders.

Huh? Why does contract size matter. It's an arbitrary number chosen by the exchange. Percentage moves should really be the only thing ever reported.

I wonder if we are talking about the same thing here. When I hear "You Only Need $5000 to Make a Living", I take that to mean that any time your account is significantly over $5000 you withdraw the difference. That's not the same thing as starting with $5000 and building it up to a point...

That seems nuts. What would you estimate % risk of ruin? How often will you have a drawdown large enough to cripple your earning power?

My measure is much better. It's Chop = squareroot(4*N/pi^2)

Does that mean you are still not profitable? Or that you are profitable but haven't recovered the initial losses yet? If it's the former, how does one afford to stick with it full time for four years in this case?

I think it's still illegal in a few of the red states.

Or, in the case of futures, use your $5000 to bet $60,000, and get out if the price falls 0.2%. :p

WTF? Sounds like they will start a new wave of carjacking with this one.

Pay off 1+2 out of your broker account. They aren't that much. Negotiate with Toyota to get the balance down, and to pay it off over time, say $100-200 per month. Pay this out of your broker account too if necessary. Take responsibility for your actions. Blaming the creditors might fly in...

Sick. The biggest jump I will ever make percentage-wise is when I go from one to two contracts.