am I a successful trader or a loser?

[SiSePuede!]

Quote from spike500:

Probably a dumb question, but have you ever made the reflection that maybe posters might be from abroad the US (yes, there is still live abroad the US, even intelligent live)? Which means that their native language might not be English?
So these people are classified as dumb and unable to trade successfully?

I speak, read and write 4 languages ( English, French, German and Dutch) but make small mistakes in each of these languages. Are you smarter if your English is better, but you don’t know any other language?
Studies have proven that even very intelligent people make mistakes, not because they are stupid, but out of negligence. Studies have also proven that, even if you omit complete words in sentences, or write them completely wrong, most people are still able to understand what you mean. That’s because we don’t read word by word, we don’t need to as we are smart enough to get the message.

None of the teachers, who taught me to write correctly, has ever made money in trading. There is no correlation between mastering a language and mastering trading.

But I’m not sure if my opinion is correct, because I sometimes make errors against the English language, which means according to you, that I probably am dumb.

Quote from SiSePuede!:

If you're not a native English speaker, at least you have a reason. It's sad when morons like myminitrading can't even use their native language above a 4th grade level. It's practically unconscionable to me how someone can be so ignorant of their native language and likely the only language they know.

Knock Knock! I clearly stated that many people aren't native English speakers...you're making wild assumptions and tried to write a discourse lecturing me when your inability to just read all 5 or so of my posts in this thread would have helped you to not feel the need to blather on.

My point has never been that knowing proper grammar makes you a good trader. My point is that if you are unable to properly use your native language, and for some their only language, then you're likelyunable to fully understand that language in its usages in company reports, press releases, etc. And if you have such a lack of attention to detail that you can so easily disregard the blaring difference between "your" and "you're" then you're probably not the sharpest tool in the shed.

Cheers and read the posts before getting reactionary and writing some whiny diatribe.



p.s. If one wanted to assume that you're dumb, they could go off the fact that you wrote a mult-paragraph response without even bothering to read through the entire thread and instead acted off assumptions/emotions rather than facts.

 

[BreakDown]

Quote from LondonUSTrader:

I think you could probably raise your maximum risk per trade to 2%.

Where do I get 2% from?

I know lots of traders who use that level. Also, I note that the turtles, one of the most successful groups of traders, under Richard Dennis, placed their stops on the basis of position risk and no trade could incur more than 2% risk.

Ok, I'm back from a beautiful bicycle ride along the lake Balaton. Balaton is the biggest Central European lake. It was really funny, eating a lot of sweet water fish, togethet my children and the classmatest.

Trading is just a part of my life.

Yes, you are right, trading looks like as a business. I run a company, selling high quality industrial products, with 10 co-workers, making 3000k$ turnover per year, 300k profit before tax.

I started to be an entrepreneur to become a rich, free, independent person, and I enjoy the way I choose.

About the small capital. I have an account(as I said) 50k. You think it is small, but the average yearly loan in my country is 5k. It is about the different point of view, I think.

Ok, back to the topic what I'm interested in. If I risked 2% of my capital, what would be the ongoing risk? 3%?, maybe 5%?

How many contract should I trade together? I deal a lot of with the money management because I feel(as you) it is the key for the success.

Thanks
BreakDown

 

[IanMacQuaide]

Breakdown, I think you're doing very well. If I were you I'd just keep doing the same successful thing over and over.

Here's a different way to look at risk.

http://en.wikipedia.org/wiki/Kelly_criterion

 

[Hook N. Sinker]

Quote from BreakDown:

I started to trade with an equity 10k at 09/21/06. With the deposits and withdrawals I have invested about 50k in my account for the last 10 months.

Now I have a total equity 56k.

If you start with $ 10K and add $ 50K the total is $ 60K. Your current equity is $ 56K. $ 60K - $ 56K = - $ 4K.

You show a four thousand dollar loss.

<img src=http://www.ironicconsumer.com/videogames/high_impact_paintball_welts_02.jpg \img>

You might be more careful.

 

[99atlantic]

Quote from Hook N. Sinker:

If you start with $ 10K and add $ 50K the total is $ 60K. Your current equity is $ 56K. $ 60K - $ 56K = - $ 4K.

You show a four thousand dollar loss.

<img src=http://www.ironicconsumer.com/videogames/high_impact_paintball_welts_02.jpg \img>

You might be more careful.

That's what I was thinking when I read that. I have no idea where he gets 22% return from.

 

[PitchBlack]

Quote from 99atlantic:

That's what I was thinking when I read that. I have no idea where he gets 22% return from.

This is what he said:
I started to trade with an equity 10k at 09/21/06. With the deposits and withdrawals I have invested about 50k in my account for the last 10 months.

Now I have a total equity 56k.

He started with 10K.
With all the deposits and withdrawals he invested IN TOTAL 50K ( so included the 10K he started with).
He is up 6K.

 

[steve46]

In answer to the original question, it is not clear from the data you provide what your "status" is...

As far as the second question you ask. The answer is that once you have an edge, your "success" can be measured by how well you manage risk...

I have said this before but it is probably a good thing for newbies to hear..

"The return for avoiding risk is no loss, but no gain"

"The return for successfully managing risk, is periodic loss, and periodic gain"

"How successfully you manage risk, determines the magnitude of your losses and gains".

Good luck

Steve

 

[BreakDown]

Quote from spike500:

This is what he said:
I started to trade with an equity 10k at 09/21/06. With the deposits and withdrawals I have invested about 50k in my account for the last 10 months.

Now I have a total equity 56k.

He started with 10K.
With all the deposits and withdrawals he invested IN TOTAL 50K ( so included the 10K he started with).
He is up 6K.

Perfect comment, thanks

BreakDown

 

[BreakDown]

Quote from IanMacQuaide:

Breakdown, I think you're doing very well. If I were you I'd just keep doing the same successful thing over and over.

Here's a different way to look at risk.

http://en.wikipedia.org/wiki/Kelly_criterion

I have heard about the Kelly criterion, but I did'n go to the details. Maybe it would be worth a shoot.

Thanks, Ian

BreakDown

 

[BreakDown]

Quote from steve46:

In answer to the original question, it is not clear from the data you provide what your "status" is...

As far as the second question you ask. The answer is that once you have an edge, your "success" can be measured by how well you manage risk...

I have said this before but it is probably a good thing for newbies to hear..

"The return for avoiding risk is no loss, but no gain"

"The return for successfully managing risk, is periodic loss, and periodic gain"

"How successfully you manage risk, determines the magnitude of your losses and gains".

Good luck

Steve

Could you be a little bit more specific, because I don't understand what you want to explain? Maybe I'm not so good in English, to understand your toughtst...

BreakDown