Not bad, you actually balanced yourself to zero, you might just have what it takes if you skip the first part.
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460 percent in under two months
- Thread starter poorboy
- Start date
Not bad, you actually balanced yourself to zero, you might just have what it takes if you skip the first part.
%%... is a sure sign of gambling, not trading.
Badly.
Very badly: they understand position-sizing and risk management, but you don't.
That's why they'll still be there to trade next month, whatever the market does, and you won't, necessarily.
And in the long run, that's actually way more important than the 460% figure which (unfortunately) impresses you - and in this business, the long run is all that matters.
They understand that successful trading is all about risk management, but you think it's about profit maximisation. That's a dreadful parameter by which to compare how you're doing with the experts.
When you sit down to start trading, each day, if your priority is "to make as much as possible over the day", then Auntie Xela has read your tea-leaves and is warning you that you have some nasty accidents, shocks and blown accounts in store. If it's "to be able to sit down again at the same time tomorrow and trade again", then you might have a chance. But at the moment, a major "Back To The Drawing-Board Re-Think" about your priorities and aspirations in trading is clearly needed.
Apologies for "blunt speaking": needless to say I mean nothing personal at all by it, but it is what it is, and at the moment you're inexorably headed toward fulfilling and maintaining your curious username.
Yes, they are. I am. Much better (but I made about 9% in January and about the same in February, each with a funded account, not 460% in two months on paper): that's partly because we have very different concepts of what "better" means.
He got part of the measure right; %,XEla.I learned some from monopoly; dice does NOT mean much.And I wouldn't blame a Parker Bros game for brief period of gambling[un -wise risk taking] . Blunt writing tends to go better than blunt speaking.Gamble is usually used with way too much risk.; but they do ads on it as fun, so gamblers may have fun.....
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%%Anyone doing better?
Not flaunting, I'm actually wondering how I stack up against the experts.
Theyre right on something else,PB
nicknames tend to influence outcomes-Solomon Cohen[Gazelle Hedge fund up 300% in 12 month, one year.]
[2]IF you do options , NOT saying you should or should NOT do options. Sheldon Natenburg book chart says''moderate bull market -buy the underlying stock'' But ''do your own research '' like Rich Dennis warned .You most likely will NOT make money in options if you ignore this.
The olympic champ in options was Mark Weinstein /Jack Scwhager. Nickname ''HI% trader''; most turtles made millions with low % hit rate+ large TRENDS.Mark won the options contest [confirmed] turned $100,000 in to $900,000, in 3 months. BUT by NOT pyramiding profits; meaning , as he made 100k then 200k then 300k... he traded 100K max, get it?????
[3-777]And buyer beware. IBM was the tek leader then, when Mark did that ; wisdom is profitable to direct...............................................................
Great quotes. Question:%%
Theyre right on something else,PB
nicknames tend to influence outcomes-Solomon Cohen[Gazelle Hedge fund up 300% in 12 month, one year.]
[2]IF you do options , NOT saying you should or should NOT do options. Sheldon Natenburg book chart says''moderate bull market -buy the underlying stock'' But ''do your own research '' like Rich Dennis warned .You most likely will NOT make money in options if you ignore this.
The olympic champ in options was Mark Weinstein /Jack Scwhager. Nickname ''HI% trader''; most turtles made millions with low % hit rate+ large TRENDS.Mark won the options contest [confirmed] turned $100,000 in to $900,000, in 3 months. BUT by NOT pyramiding profits; meaning , as he made 100k then 200k then 300k... he traded 100K max, get it?????
[3-777]And buyer beware. IBM was the tek leader then, when Mark did that ; wisdom is profitable to direct...............................................................
Sheldon Natenburg book chart says''moderate bull market -buy the underlying stock'' But ''do your own research '' like Rich Dennis warned .You most likely will NOT make money in options if you ignore this.
Can you explain and expand on this quote?
Regards and appreciate your coaching.
%%Great quotes. Question:
Can you explain and expand on this quote?
Regards and appreciate your coaching.
Yes, iron chief,as measured on 1 year chart [SPY,QQQ.....], +200 day moving average;
its a moderate bull market , another reason he lost money.[context =post #43]
Intuitively, I would think, in a moderate bull market, shorting calls or puts would be more profitable than buying the underlying?%%
Yes, iron chief,as measured on 1 year chart [SPY,QQQ.....], +200 day moving average;
its a moderate bull market , another reason he lost money.[context =post #43]
Best wishes.
%%Intuitively, I would think, in a moderate bull market, shorting calls or puts would be more profitable than buying the underlying?
Best wishes.
Could be; but then State Farm of out of FLA, too much weather risk, lost too much on some insurance.And other reasons i dont have time to get into; but some may want to.....
%%
Be careful,PB, on an options account with about $500,000, but your broker notes no long /short stock, no money available for withdrawl. The latter is a danger signal.I ALWAYS wondered why the policeman stuck his head inside the pool hall where we gambled, as kids??
Actually paper trading can help. I still use it sometimes, keep$ me out of some bad trades/investments, but frankly its with real paper or fed reserve notes, real paper+ real ink; sim is too easy, unless you print your sim charts+ add commission, $lippage.Its late in he cycle, but may want to trade/invest[or papertrade] in some SPY or QQQ??
I agree. I think its safe to say if you don't make it on paper you are not going to make it with cash so its a good sanity check at the least.
True, risk/reward may not be as good as long the underlying in such market conditions. However, I am going to analyze/backtest and see if it is true for my underlying.%%
Could be; but then State Farm of out of FLA, too much weather risk, lost too much on some insurance.And other reasons i dont have time to get into; but some may want to.....
Thanks again.
%%True, risk/reward may not be as good as long the underlying in such market conditions. However, I am going to analyze/backtest and see if it is true for my underlying.
Thanks again.
Iron Chief;
Many ways to get around single stock risk ;buy 100 or 500, SPY or QQQ related....... Sheldon Natenberg did not note it ;but he most likely know$ it ==100% of foreclosures are caused by leverage. And while options are priced different than in 1987, plenty blew up; lost huge on puts[ yes lost on the puts] + calls , in OCT 1987.