Did Media Blow Greek Smoke Up Your Rectum? Is It Time To Short Yet?
- Thread starter shortie
- Start date
"50K to 7 figures in 6 months"
Lights,
No doubt about it. Walk into any prop firm. There is always one guy that has pulled off that feat. He's usually in a room away from the other traders behind a glass window etc etc.
But, that type of trader is 1 in 50. He is the exception. His/her skill set and edge are tight/mesh well, or is a natural with taking risk, and breakthrough where others struggle.
The rest of the 49 are somewhere along the distribution of profitable, break-even to habitual loser. The 7 figure trader is what the rest of the room aspire to be.
That type of performance although admirable is far from the norm. Most of the other 49 know that as well.
Additionally, Bone is dead on right about the power of future spreads Span performance bond margining. It ratchets up the possible return on capital and on a instrument that has
Significantly less risk than an outright with flat price directional exposure.
Also, Exchange membership even sweetens that arrangement in providing a further discounting of margin. Most professional commodity traders, former floor traders, whether trading the physical, OTC or exchange traded products are either in the spreads or at least looking at a differential between some products for a bearing for market outlook. The Span requirements can make for some pretty powerful opportunities for profit.
Lights,
No doubt about it. Walk into any prop firm. There is always one guy that has pulled off that feat. He's usually in a room away from the other traders behind a glass window etc etc.
But, that type of trader is 1 in 50. He is the exception. His/her skill set and edge are tight/mesh well, or is a natural with taking risk, and breakthrough where others struggle.
The rest of the 49 are somewhere along the distribution of profitable, break-even to habitual loser. The 7 figure trader is what the rest of the room aspire to be.
That type of performance although admirable is far from the norm. Most of the other 49 know that as well.
Additionally, Bone is dead on right about the power of future spreads Span performance bond margining. It ratchets up the possible return on capital and on a instrument that has
Significantly less risk than an outright with flat price directional exposure.
Also, Exchange membership even sweetens that arrangement in providing a further discounting of margin. Most professional commodity traders, former floor traders, whether trading the physical, OTC or exchange traded products are either in the spreads or at least looking at a differential between some products for a bearing for market outlook. The Span requirements can make for some pretty powerful opportunities for profit.
Trading with the market is certainly the easier way. There are times when a trader doesn't know whether the next move is up or down and trying to guess one way or the other, and possibly reversing when they are wrong, will churn and burn an account pretty quickly. I've made that mistake more than once. When I find myself in a situation like that, and not knowing how far the market will go, I will resort to fading the move only, and ONLY, if volatility is high enough to warrant such a trade. If volatility is low the chances of getting caught on the wrong side of a persistent trend is high. In that case it's generally better to chase the market than fade it. Ohhh.....the art of trading!
well, we have some swingers here, and some intraday guys (and girls). Some wise trader said several years ago right here: "Trading on the basis of what you think the market will do is the way to the poor house!" This is true for we intraday fools. We just have to sit on our hands until the market decides to show us where it is going next. You swingers, must have your own devices to fall back on.
Right now this market is telling me "to the Moon, Alice" but I could get an entirely different message on Tuesday morning. And I'll just hang out till then eating hotdogs cooked in beer and tabasco in honor of our nations birthday.
4th of July Recipe:
1 crockpot
1 package Oscar Meyer Wieners
1 small bottle tobasco
2-3 cans of beer, preferably an American Beer..
combine all and cook all day, or until hungry, on low.
Right now this market is telling me "to the Moon, Alice" but I could get an entirely different message on Tuesday morning. And I'll just hang out till then eating hotdogs cooked in beer and tabasco in honor of our nations birthday.
4th of July Recipe:
1 crockpot
1 package Oscar Meyer Wieners
1 small bottle tobasco
2-3 cans of beer, preferably an American Beer..
combine all and cook all day, or until hungry, on low.
