The goal is not to get as big as possible, that is for some a ego thing. I have the costs of living and the coming retirement taken care of.
Trading these days is mostly a hobby, a brain stimulator, something to get me up in the morning where i can make some money.
I do see some have different ideas about how much to play with and how much to "BANK". When i first went into trading i did it for the specific purpose of learning a different profession, a profession where i could make enough $$$$$ to be my own boss.
If the goal was to become the next Paul Tudor Jones or a Stanley Druckenmiller i probably would have blown up a long time ago. I set the sail for slow and steady, decided to be the turtle not the hare. Every once in awhile i get the urge to feed the horse some premium oats and load the wagon.
Here is a belief of mine: If you take a 50K account and in the next month double it, sweep it back to 50k at start of each month. The consistency of that strategy plus your daytrade tactics can become automatic, not to mention profitable. The end of year percentage of gain on the original 50k is indeed a good year in anyones book. I do not need or maybe could not make millions a year. I simpler goal with quite mundane tactics can be applied with superior results.
I firmly believe if many traders lowered the sights in the earlier stages to become a winner, more would make it. Some have such high hopes that they miss how simple the game really is. The easy stuff has always worked, should always work.
The only threat i ever see to the trading game is: If and when, the world gets borderless, gets one currency, one ruler, one central bank (which then would not be needed), etc, etc. Then mkts will just be in the history books.....HOW BORING OF A WORLD WOULD THAT BE? One set of laws, HUMBUG....
PS, How hard can it really be to envision taking on avg of 5 handles out of the ES mkt each and every day for approx 245 days a year? To put it another way: If the daily goal was 10 or more handles a day on 10 contracts, more often then not the goal would not be met, frustration would demoralize many good men/women, they would quit. But how many would get to a goal of 5 a day as a more realistic game plan? So it is not the money, it is the game. I can play poker, can i play tournament poker, i think not....
Trading these days is mostly a hobby, a brain stimulator, something to get me up in the morning where i can make some money.
I do see some have different ideas about how much to play with and how much to "BANK". When i first went into trading i did it for the specific purpose of learning a different profession, a profession where i could make enough $$$$$ to be my own boss.
If the goal was to become the next Paul Tudor Jones or a Stanley Druckenmiller i probably would have blown up a long time ago. I set the sail for slow and steady, decided to be the turtle not the hare. Every once in awhile i get the urge to feed the horse some premium oats and load the wagon.
Here is a belief of mine: If you take a 50K account and in the next month double it, sweep it back to 50k at start of each month. The consistency of that strategy plus your daytrade tactics can become automatic, not to mention profitable. The end of year percentage of gain on the original 50k is indeed a good year in anyones book. I do not need or maybe could not make millions a year. I simpler goal with quite mundane tactics can be applied with superior results.
I firmly believe if many traders lowered the sights in the earlier stages to become a winner, more would make it. Some have such high hopes that they miss how simple the game really is. The easy stuff has always worked, should always work.
The only threat i ever see to the trading game is: If and when, the world gets borderless, gets one currency, one ruler, one central bank (which then would not be needed), etc, etc. Then mkts will just be in the history books.....HOW BORING OF A WORLD WOULD THAT BE? One set of laws, HUMBUG....
PS, How hard can it really be to envision taking on avg of 5 handles out of the ES mkt each and every day for approx 245 days a year? To put it another way: If the daily goal was 10 or more handles a day on 10 contracts, more often then not the goal would not be met, frustration would demoralize many good men/women, they would quit. But how many would get to a goal of 5 a day as a more realistic game plan? So it is not the money, it is the game. I can play poker, can i play tournament poker, i think not....
