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Hi Brandon, We've never met but I've been following your 'career' for quite a few years - mainly your threads in ET. I don't know how much of the stuff written is B/S (and quite frankly I don't care), but I just wanted to say that as a PLF guy and someone who admires Jeff Walker immensely...

What has this got to do with thinking in percentages? Why hijack this thread? It started off nicely with some intelligent comments and then you come along and post a bloody essay with crappy little handwritten notes. Mate, stick to the point

In one of the posters earlier replies he did state that his challenge was to maintain that 'average' for 3 months. I voted YES in the original poll as I do believe that 2% per day on an average sized day trading account is possible. Initial Starting account size - $20,000 Daily Target 20...

Another interesting day trading journal. I have voted YES to 2% per day. Question for TradStSOX - when you started the thread/poll, what were your expectations - did you think that averaging 2% per day over a 3 month period was realistic?

In response to my initial question to Allen - about what his plans were after the completion of this experiment he stated he wanted to trade full-time. To get to full-time as a day trader requires two things. 1. Consistent and profitable trading strategy (Allen seems to have nailed this). 2...

I understand the concept perfectly well. I'm not really sure why you ask?

Given your outstanding performance with such a small starting account are you not tempted to throw a whole heap more cash at this?

Very interesting journal I commend anyone that not only is making steady profits but also has the patience and self-discipline to maintain a thread like this -especially in light of those ET posters that seem to be motivated by shooting people down. This thread has certainly got me...

I read this thread with fascination. This situation could be likened to the requirements investment banks have for compliance and risk departments. Traders make the trades whilst the compliance and risk departments provide the control. A whole heap of stuff is required to control risk, not...

Very useful information re-inforcing my bullish outlook for Wheat - although (with respect) not really providing me with insight into what kind of upside price you would set your target at?

Given that Wheat continues to push to record highs, I'de be interested to know what the swing long traders are using as profit targets? Under normal circumstances I would use the Upper Keltner channel or Bollinger Band as a first target and then some 'obvious' level of resistance as a...

market makers do runs stops but blaming them for your error means your mind is not conditioned for trading.

secrettrader - can you share the book link? Or are you 'secret by name and secret by nature'? :)

Good post (and perhaps the only one in this thread who is offering sound advice). There's no reason to believe that GoldMiner1849 is not serious, he/she just needs to understand what is required to give day trading a good shot. In short, you need a plan (as outlined in the above post). I'de...

If its not for you, then its not for you. Simple. There are some incredibly successful day traders who make more than a living scalping the markets. For them its a style that suits them. If your style is more longer term oriented and it's working from you, then stick with it. One piece of advice...

seems this thread has kinda died a death which is a shame as its been a fascinating read for me. Having just finished 'Pit Bull' (cover to cover in a couple of hours) I was completely absorbed by it. I read lots and lots of trading books covering all sorts of subjects but this book was a breath...

People have been trading breakouts and retracement strategies before and since the Turtles and some make money and some don't. There's so much more to it than simply the execution of the entry and exit. Personally I think their innovation around position sizing and scaling into winning trades...

5% on each trade is a substantial risk (eg $500 on $10k). Most pro's would risk <1% on each position, but they have size on their size. I think the bottom line is, that with a $10k account you are not going to make huge amounts of cash unless you 1. Take big risks and 2. Are lucky. The key to...

This is a good post, interesting to see lots of differant views. I believe people should follow their dreams by taking controlled risks. It seems trader07 has the skills to trade in his current environment and therefore should be able to migrate those skills when he goes full-time. My view...

Assuming your system does not deliver 100% winning trades (a safe assumption I think) then at some point your system will deliver a run of losers greater than other runs. As long as you continually review your system and have no reason to feel it has lost its edge, then the best way to deal...