back from the dead
- Thread starter Gordon Gekko
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i really did not want to reply to this thread til $4,000 is hit lol, but i need to make some clarifications.
i agree with both you guys. i'm actually very aware of my current situation. i've already started to reduce my risk per trade as i got my head above water. it was just the very first trade that i was willing to risk a lot, since if i was wrong, i wouldn't be able to place another trade with IB. that was my plan all along. even last time it was my plan, but the trades just didn't go my way.
my idea was that eventually i would get some type of streak that would give me a cushion. i knew it would happen eventually. my first 4 trades were like (ES) +4.25, -.75, 0, +7. once something like this happened, i would start limiting myself to very small losses (1-2 points).
if i'm careful, this can be done, although i will definitely agree there is a high chance of failure, even if i trade good. i know a drawdown could do me in, but i'm going to give it a shot anyway.
axeman and GreenDog,
i agree with both you guys. i'm actually very aware of my current situation. i've already started to reduce my risk per trade as i got my head above water. it was just the very first trade that i was willing to risk a lot, since if i was wrong, i wouldn't be able to place another trade with IB. that was my plan all along. even last time it was my plan, but the trades just didn't go my way.
my idea was that eventually i would get some type of streak that would give me a cushion. i knew it would happen eventually. my first 4 trades were like (ES) +4.25, -.75, 0, +7. once something like this happened, i would start limiting myself to very small losses (1-2 points).
if i'm careful, this can be done, although i will definitely agree there is a high chance of failure, even if i trade good. i know a drawdown could do me in, but i'm going to give it a shot anyway.
lol that's the LAST place my $ would end up! i am not AT ALL religious.
Maybe that's the problem. Your way doesn't seem to have worked out too well.
Anyway, I admire your guts. Best of luck.
I hate to say it but you can thank the Hussein's for most successes today. 
GG-
Although I do hope you make it, thats just because I seem to always root for the underdog. However, .....geez man, what you are doing is not trading, it is pure gambling! I suppose or at least I hope that your odds are better than sticking coins in the slot and pulling the lever, but maybe not. I'm not a Stat-man, and don't know your transaction history. You seem to want to keep trying, but the words inherent in your post is of a man who actually has given up, or at the very least doesn't truly believe he can make it anymore.
You are just forging on with cold, hard, persistence for the sake of being able to say, "Trade, HELL Yeah I trade" ..."A Trader, uh huh, thats me alright!"
I am profoundly sad for you.
advice: If you really really want to make it. Save up 25K. Yeah, I know it will take a while working an hourly job, which is probably what you'd be doing. Doesn't matter. Build some real capital. Sell some more *hit, whatever. Pimp yourself out(to be done only if you're a Stud)-j/k. Acquire a job that still has you working non-market hours. Find someone who is at least moderately successful and/or does it for a living. LEARN a system from them or hard core techniques that work consistently. Focus on Futures contracts, more uniform and bias towards systematization, than equities.
Then dive back in!
best-
momo
Although I do hope you make it, thats just because I seem to always root for the underdog. However, .....geez man, what you are doing is not trading, it is pure gambling! I suppose or at least I hope that your odds are better than sticking coins in the slot and pulling the lever, but maybe not. I'm not a Stat-man, and don't know your transaction history. You seem to want to keep trying, but the words inherent in your post is of a man who actually has given up, or at the very least doesn't truly believe he can make it anymore.
You are just forging on with cold, hard, persistence for the sake of being able to say, "Trade, HELL Yeah I trade" ..."A Trader, uh huh, thats me alright!"
I am profoundly sad for you.
advice: If you really really want to make it. Save up 25K. Yeah, I know it will take a while working an hourly job, which is probably what you'd be doing. Doesn't matter. Build some real capital. Sell some more *hit, whatever. Pimp yourself out(to be done only if you're a Stud)-j/k. Acquire a job that still has you working non-market hours. Find someone who is at least moderately successful and/or does it for a living. LEARN a system from them or hard core techniques that work consistently. Focus on Futures contracts, more uniform and bias towards systematization, than equities.
Then dive back in!
best-
momo
no need to be sad for me. that is not the case at all.
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