$2,000 to $200,000 in 2020 at 2.00% per day.

tiddlywinks said:
SierraChart. Rock solid stable. Low cost. Customizable. Programmable. One of the best! :thumbsup::strong::cool:
More...

really? When it comes to charts I use stockcharts.com and thinkorswim. But stockcharts.com really displays charts the best from my eye point of view.

I'll take a look at this Sierra chart stuff. Thanks guys.
 
I hate to ruin the positive vibe in this thread but I must say I haven’t seen anything useful or original shared here. It’s all trading 101. Trade a sim, find an edge, start small. Really!? Why are y’all acting like the OP is reinventing the wheel. Pfffttt
 
Deez said:
I hate to ruin the positive vibe in this thread but I must say I haven’t seen anything useful or original shared here. It’s all trading 101. Trade a sim, find an edge, start small. Really!? Why are y’all acting like the OP is reinventing the wheel. Pfffttt
More...

@Deez Your reaction is fair.

But here is my input and a clue to your answer. I have been trading for 13 years and still haven't been able to crack the $10k profit mark. I am NOT a consistently profitable trader (CPT). See the date I registered on ET here? Jan 1, 2009. 11 years ago.

upload_2020-1-24_22-0-56.png


Yep, I am an old goon. And what am I even doing on this site?

I have spent hours on ET and FIO and other sites, as well as in chat rooms and on ZuluTrade. And what do I see? Self destruction and misery are ubiquitous. And the chat room I am in currently is full of traders who are trying desperately to earn "Funded Trader" accounts on OneUp, Leeloo, TST, E2Trade, and others but IF they pass, they can't seem to hold on to their live accounts for more than a few weeks.

SO, I am convinced that most traders suck at trading. They over-leverage. They are constantly looking for the home-run trade. They move their stops. Etc, etc.

So what is the fascination? I think I have attracted a bit of attention exactly because I talk about the basics and show how they can actually work. "The fundamentals" are what every coach drills into the athletes. Why? Because they work. I think most traders FAIL because they are too stinking smart for their own good. I know I am. But I am trying to fix that.

Any other reasons for the fascination? Well, I made an extraordinary public goal of trying to make 2% per day and $200,000 this year! And am backing it up with math and a big breath of true zeal and optimism. I have captured the imagination of a few who would love to do the same thing.

Additionally, I have created a safe place for people to dream with me or crucify me. LOL. I don't get bent out of shape over critical comments and truly encourage the newbie or the returning rusty trader. My jokes are dumb, but I really do want to help other traders avoid many of my bad trading habits, and I think they see that.

I have given one Trading 101 lesson. There are 3 more planned, as mentioned, and then let's see what happens.

Please keep checking back and see how I am doing on my goal. I am not reinventing the wheel, but I am about to actually get my balance on this !@#$% trading unicycle.

Cheers.
 
I just got the AMP report for the day:

17 micro contracts total traded today. $13 in commission. $58 net profit.
This gives an average net trade of $3.40
(If E-mini this would be $34 per trade and $580 total for the day.)
The new balance is $2,280.

upload_2020-1-24_22-30-13.png


I am still on track.

Lets see what happens next week between the corona virus and earnings and impeachment and NFP...
 
@sstheo, you will achieve many great things in this trading world, I can guarantee it. You are driven and I can tell from your strategy you are determined to liquidate fat profits. Keep going brother!
 
Again, my only purpose in mentioning all the other websites is that EVERYWHERE I go I see traders not following sound principles but always looking for the holy grail: that secret that will get them $1M in the next 6 months.

But you heard it here first. There actually IS a holy grail!

The Holy Grail is DISCIPLINE.

And I will probably talk a lot more about this. (Again, pointing 3 fingers at myself.)
 
I love to watch Peter Reznicek's free weekly videos. Here is today's:


Take-aways:
  • Friday was the biggest down day in a long time, most likely caused by the virus scare.
  • However, Peter loves to use the 20 day sma and the 50 sma, and we are still above them, as well as the uptrend line from the October lows.
  • Earnings are next week, and they might keep the market up well.
  • So be careful on shorts.
  • But if we do start to tank, then 3259 on the ES is the logical first stop. We took out the 13th VPOC yesterday, and 3259 is #12. Then comes the gap fill at 3212 and VPOC #11 at 3205. (I will discuss VPOCs at a later time).
 
You must log in or register to reply here.
Back
Top