no steve some people do make money but to sit there and say every bs blotter is making money everyday is bs. hell no i don't believe it. to sit there and say people make 1-2k everyday with no huge drawdowns is pie in the sky. even if the blotters aren't bs i'm sure many have other trading accounts they're down in and they don't say a word. to make money takes risk and all will have some big downdays it's as simple as that. read the original posters notes. anyone reading et would think everyone's pulling down big bucks and thats just not true. this is net land were fantasy's are born.
Anyone else having a hard time?
- Thread starter marketwhizz
- Start date
damn right. i lost a tidy sum the other week when the power went out at work and i was holding crude contracts... (no stops in place, my fault) by the time i get home i am FVCKED b/c some fool in the israeli military decided to leak info to the press and drive oil down a couple of points...
anyway. market is going through its pre-crash gyrations. Get ready to short EVERYTHING. =)
anyway. market is going through its pre-crash gyrations. Get ready to short EVERYTHING. =)
Quote from BrandNewTrader:
i lost a tidy sum the other week when the power went out at work and i was holding crude contracts... (no stops in place, my fault) by the time i get home i am FVCKED b/c some fool in the israeli military decided to leak info to the press and drive oil down a couple of points...
That's right, blame the jews for everything -
(yes, it's a joke)
There is a difference btw being skeptical and being cynical.
And if you think 1-2K days are "big bucks" then we must have very different definitions of the term big bucks. 1-2K is a steady nice solid living but given how much is out there daily, I see it as only the tip of the iceberg.
And if you think 1-2K days are "big bucks" then we must have very different definitions of the term big bucks. 1-2K is a steady nice solid living but given how much is out there daily, I see it as only the tip of the iceberg.
That pretty much sums it up. One mans castle is another mans slum. However, I would respectfully submit that anyone who thinks 1-2K a day isn't big bucks lives in a very differant world than the other 99% of the trading population. Kudos to you, but please try to understand where most of us are coming from.
Depending on the risk management skills of the trader, it is true that big winners must at some point endure significant losses.
Two things
First, it is possible to test mathematically, to determine the odds that a trader is truthfully reporting his earnings. Whether it is worth the effort or trouble is another subject....
Second, given this environment (ET) I would suspect that there are some members who would be willing to fabricate their blotters if they thought they could escape detection.
There are after all, a number of members here who don't even trade, yet they offer "profound" commentary all the time on a subject they have only read about.
This is why if we leave aside the issue of privacy, one has to wonder what the real value of the P&L journal is?
Frankly, I believe that I can tell who is really "doing the dance"
and who is sitting it out, just by thinking critically about the content of the posts, and if I am making money myself, who cares what another trader is doing?
Steve
Two things
First, it is possible to test mathematically, to determine the odds that a trader is truthfully reporting his earnings. Whether it is worth the effort or trouble is another subject....
Second, given this environment (ET) I would suspect that there are some members who would be willing to fabricate their blotters if they thought they could escape detection.
There are after all, a number of members here who don't even trade, yet they offer "profound" commentary all the time on a subject they have only read about.
This is why if we leave aside the issue of privacy, one has to wonder what the real value of the P&L journal is?
Frankly, I believe that I can tell who is really "doing the dance"
and who is sitting it out, just by thinking critically about the content of the posts, and if I am making money myself, who cares what another trader is doing?
Steve
Please, dont get me wrong, 1-2K a day is a very nice living and by no means is my "slum". I am merely saying that, given the amount of opportunities present daily, 1-2K a day is just scratching the surface. Its like the more and more I see, the more and more I realize that there is much more yet to be seen. Its never ending and there is always room for improvement.
Plus I live in the NYC area so its not like my cost of living is low
.
Plus I live in the NYC area so its not like my cost of living is low
.I think people are getting confused here. To avg 2k a day every day is about 480k a year. I'm talking avg.An example one makes 1500,800,2000,2500,600 thats about1500 a day. People just look at the 2000 and 2500 and forget the 600 and 800 pull it down big. Steve if its peanuts why aren't you averaging 2k a day? If hold has 300 full time traders i assure you not more than 20-40 made 400k or more last year. Also remember all the slow days like the last week of dec and the holidays and the last 2 weeks of august are horrible. There's at least 4-6 weeks of down time in this game a year. So lets understand what avg means as it's much different than i made 2k mon-wed and then 500 thursday and friday. AND YES $480K A YEAR IS A GREAT LIVING EVEN IN NYC
First off, we are talking 1K-2K here not just 2K. And I never said 2k a day is peanuts b/c it certainly isnt. I guess I just have greater goals as a trader. For me 1-2k a day is a stepping stone to where I want to go. Ideally, 7-8 figure income is what I am shooting for. As you can see I am still incredibly far off from where I would like to get to. For some, 1K a day is their goal and thats fine for them. I am shooting higher b/c I know its possible and I am fully commited to making my goal come true some day. I'm not going to daytrade forever, I know I need to expand my game. I dont think there is anything wrong with thinking big, but it seems like you are telling me that I should be happy with where I am at and not push myself.
I dont get it bighitter, you claim to have made great sums of money in the markets but now you jump down anyones throat who shows profits or thinks big. Why are you so pessimistic? Are you struggling now?
I dont get it bighitter, you claim to have made great sums of money in the markets but now you jump down anyones throat who shows profits or thinks big. Why are you so pessimistic? Are you struggling now?
No i've done very well and Continie to do well.Of course compared to the good old days of 1998-2001 were 7 figures was a layup this is much tougher. There's nothing wrong with shooting for higher goals I'm just laying out the reality of the business that few can do that.Maybe you'll be one of the few 7 figure guys and i wish you luck. To even get to 5k a day requires much more risk and tons of up's and down. It requires taking 5-10k positions which means a 10 cent lose is 1k. Few can stomach that.Anythings possible no different than an mlm were the top guys make millions and give the rest hope who make little.