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Well, I assume he got to be the world's largest T-Bond futures trader in the world starting with a modest stake by not getting whipsawed to death too often.

Some years ago the legendary bond floor trader Tom Balwin gave an example of the type of buying that moves markets. Like Baldwin, many savvy traders believe explosive moves come not from winners pressing their bets but from those stuck in a trade going against them having a better feel for the...

You mean to tell me you're not going to throw in lunch?

Ahhh ... yes! The make it up on volume methodology -- an ET classic. q

I don't think he is suggesting every trade is a loser. What he is suggesting is a mystery to me but no one can believe that you can last 128 trades even if you had the entire capital of mankind at your disposal. Even here, on ET, no one is quite that stupid. Or are they?

Yes ... time off is a must when it is not working.

I am not suggesting you are wrong but I am curious as to how that is calculated.

magnet, I remember (in the late 60's)when a four million share day was OK volume and ten million shares unheard of. Don't be spoiled by recent past years ... everyone was chopping in high cotton. Figure it out; do not let a single bad year drive you out. Learn to trade what it is not what it was.

Obviously these numbers don't compute but I learned a long time ago in business that frequenly there is a piece of the puzzle that you end up paying way over the odds for but it means nothing. Sometimes the difference is having that piece completes that particular puzzle and allows you to earn...

Unless someone is with a too big to fail firm, trading without margin = leaving significant sum with brokers in accounts that are totally uninsured. It is lunacy. Since relatively few post T-Bills what you are doing -- in most cases -- is leaving money either interest free or at below market...

The hypothesis was if I were day trading CL. I really don't know how they do it over there but here I can certainly trade a 4 lot of CL in a $5,000 account as long as I'm flat by the close. I'm not trying to be rude but you can't be so taken with your new found knowledge that you think you...

Mav, your comments and opinions are always appreciated (particularly on anything prop related) but keep in mind I didn't jump in until he started to talk in terms of contracts ... here's his comment: "In the futures market, whatever capital you have you can control a leverage 20 to 1. So if...

I've been expecting you ... this is clearly your type of thread. I understand that the chances of a straight directional trader using a prop firm are remote. I'm trying to prompt him into expressing his leverage in contracts ... or at least one side in contracts. If he is spreading the...

Here is what I don't get about the "it will blow up later" and "this will end badly" point of view. Why would I and why should I give a flying f**k about how it ends, if it blows up etc. I don't think any of us think it is ending in the next few weeks or even months so a trader can make his...

I'm not understanding what level of leverage you are able to utilize. I will take your $5,000 account size as our example. If I am trading day trading crude as a retail client at say AMP, Crossland or any one of a handful of lower margin firms here in the US I can trade four CL contracts...

We are actually quite pleased to hear that because we are not eager for you to do any dancing at all!!!

If we can hook Martin up with Doctor Dre even PSY's numbers will be dwarfted!

I trade CL outright -- directional, no spreads -- so I don't need access to cash markets or more leverage. In fact I only use a small fraction of the leverage that is available to me so prop is not something that fits for me. While I am enjoying this thread -- a window on a world I know...

A friend of mine who was a floor trader asked me to rewrite his resume when his floor was getting "thin" and it was headed for extinction. I wrote advertising copy for a company I owned at one point in my life and he knew that the copy was strong. He was looking for a job with a hedge fund and...

Suggestion: Add substance to the thread or go away. Your disjointed comments are the equivilent of talking to yourself. Most of us have the good sense to avoid jerking off in a public place. Make that the first thing you learn from this interesting thread.