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We always planned for ~$5M at time of "retirement" - i.e. when my wife can scale back if she wants and I can take up trading full time :) And $5M is quite a modest number with enough cushion for peace of mind after making sure we can pay for kids school (if needed), etc.

as they say... "asked and answered" :) It is a great toy...and like a $4 starbucks coffee.... a social symbol. Not saying that it is rational to own one at that price... but not surprising given how consumers act. also see "predictably irrational" by daniel ariely. Specifically reminds me...

Agreed - another indication that incentives and pay for performance are not aligned with the long term interests of the company. Not surprisingly average CEO tenure has also been decreasing and turnover increasing. OTE.

Debaser82, This is defintely an issue in corporate America. Is management overpayed? in many instances the answer is yes . and in some the answer is no. For me the critical pricinciple is pay for performance - and this is blatantly missing in most executive comp packages (at least in a...

Started tracking today. I believe I got lucky on my first day. Net positive $635. Daily stats I look at... Date, Net PnL, Profit Factor, #Trades, % profitable, #MaxDD, #MaxRunUp 20101019, +$635.00, 2.28, 11, 36.36%, -$360, +$740 I've noticed that I dont have a problem taking losses...

Hello ET & welcome to the "You've got to be #$#%$ kidding me" journal. I normally do not curse but my trading often makes me want to. As such, and in honor of the insane crap I do while trading, I've decided to name this the YGTBFKM journal. The name is relevant in a broader context as...

Thanks Robert. Actually this is one of the key metrics I am currently using as well (% of profitable trades or probability of winning after x bars). Also read through some of the other posts at the link. a good refresher. Thanks for link.

intradaybill, thanks... when you talk about tops/bottoms, how do define those? (ie. intermediate tops and bottoms may not be longer term tops/bottoms). Thanks. OTE

What are the best ways to test the merits of an entry / setup / etc? Obviously the (non)trivial answer is to see if it provides an edge and makes you money on a consistent basis. But this assumes that the entry is already paired with the appropriate exit strategy or strategies, money...