25 Years & $100 Million Profits... A to your Q's, Today Only

100 Million in trading Profits, that's impressive!


....what & how did you trade after going over 10 million in profits? and where do you keep your 100 million? i mean...do u invest in stocks or trade or buy bonds or put it in a bank?
 
Quote from gnome:

Why do you care?
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as i said i was curious. you've put yourself out there as a highly successful trader, so i wondered how many contracts you are clicking with.
 
Quote from krt:

are you not willing to answer this question? i saw it was asked earlier too, so i was just curious.
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What difference does it make?

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Did I say only one more question? : )

gnome, do you routinely have to deal with an up market creating problems for your shorts or vice versa? Do you ever wait to enter a position because you expect i.e. an upmove in the overall market so you wait to short? Or do you just get your short on once the chart is telling you to enter?

Do you do a lot of entering and getting stopped for small losses before catching the move you expected?
 
Quote from powerfade:

What difference does it make?

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Did I say only one more question? : )

gnome, do you routinely have to deal with an up market creating problems for your shorts or vice versa? Do you ever wait to enter a position because you expect i.e. an upmove in the overall market so you wait to short? Or do you just get your short on once the chart is telling you to enter?
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Up moves always create problems for current shorts. I don't think in terms of "expecting an up move to short"... but rather, either (1) the up move has hit (or is near) a resistance point to short... in an effort to nail the swing top, or (b) it looks like the market has reversed enough down that the top is past.

You have to risk "X points" that one of those is correct.
 
Quote from krt:

as i said i was curious. you've put yourself out there as a highly successful trader, so i wondered how many contracts you are clicking with.
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Why don't you post your financial statement. If it's strong enough (don't lie), I may deem you worthy of an answer.
 
Very impressive return Gnome. I started with significantly more than you did 22 years ago and have netted a small fraction of what you have mostly due to youthful lack of discipline and greed/ego.

Thanks for the thread. As appreciation for the simple things in life can be temporarily overwhelmed by day to day distractions, so in trading can the simple basics be over shadowed by the latest indicator/strategy and in both cases perspective can be lost. Just as I am thankful to those who remind me not to take the important things in life for granted, I thank you for reminding me of the same thing as it applies to trading. One can never have too many reminders in both instances.

I have one question: Do you think that you would have done significantly better over the years if you had averaged up?

Thanks and best to you and yours in 2008,
Mvic

PS Not at all surprised that such a pragmatist would be a Ron Paul supporter, as am I.
 
Quote from Mvic:

Very impressive return Gnome. I started with significantly more than you did 22 years ago and have netted a small fraction of what you have mostly due to youthful lack of discipline and greed/ego.

Thanks for the thread. As appreciation for the simple things in life can be temporarily overwhelmed by day to day distractions, so in trading can the simple basics be over shadowed by the latest indicator/strategy and in both cases perspective can be lost. Just as I am thankful to those who remind me not to take the important things in life for granted, I thank you for reminding me of the same thing as it applies to trading. One can never have too many reminders in both instances.

I have one question: Do you think that you would have done better over he years if you had averaged up?

Thanks and best to you and yours in 2008,
Mvic
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I would have done much better if I would have believed in the Fed's money-pump support of the markets and been balls-to-the-walls leveraged and long. That was a relatively new development versus my prior experience, and I never gave it proper respect.

However, that's just "the most recent phase"... someday it will be different and the high-risk long players will likely get slaughtered.... like the the tech players did in 2000-2003. (I know of a couple of stories where investors lost virtually everything "buying the dip and riding it out" that time.)
 
Glad to be reminded it can be done.
It is greatly encouraging to me, personally, to hear the insights and comments of someone who has achieved real success trading futures contracts.

I remember when I was a kid I heard the expression "Money talks and bullsh** walks."
I thought, "I don't understand that now but I bet when I am a grown up I will understand what that means."

I'll bet you're acquainted with that expression as well. LOL

Thank you very much for sharing your expertise.

Brennan
 
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