ES Journal Archive (2011)

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Quote from jjf:

Hi fed,

Just ask yourself "who cares, who really cares what you do"

It is nobodies business but your own.

If someone comes back on you and accuses you of sim trading
or not even placing trades on a sim at all.

Just ask yourself "who cares, who really cares what you do"

Remember, only around 3% of Independent Traders survive the journey and become profitable ... only 3%

All you have to do each and every day is make absolutely certain that everything you do and say is another step towards the 3% Club.

But unless you really care, it is fair to say that nobody else does ... after all, it is your life.
So you go for it and give your trading 110% of effort and concentration.

good luck
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I'm so happy that I have finally found that this thread is where the 3% club meets everyday!.
 
Quote from eudaemon:

I'm so happy that I have finally found that this thread is where the 3% club meets everyday!.
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Perhaps if you through in a few thoughts on trading we could judge for ourselves
 
Quote from jjf:

Perhaps if you through in a few thoughts on trading we could judge for ourselves
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Maybe next year. For now I'll be content to be absorbing all the wisdom from the 3%.
 
There is a totally perfect divergence in Ninja's Monthly chart, I wonder how far it will fire, technically speaking 90 1st, 100 2nd. The press continues to advocate YEN's safety status, especially WSJ.
 
Quote from JSSPMK:

He trades a £10k account betting around £8 per point (as far as I understand it),
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Exactly. He is not playing the $50 per car per point game and the account is small. If he gets stuck on the wrong side, he will learn, but even so, the loss won't be signifficant. And in the main time he is doing very well with the add ons.

There are other people here to criticize who are actually holding 5+ cars during a 20 points move against them without a stop loss posted, Sta... I don't remember his name. :)
 
Quote from eudaemon:

Maybe next year. For now I'll be content to be absorbing all the wisdom from the 3%.
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you are off to a good start ...
 
Quote from Pekelo:

Exactly. He is not playing the $50 per car per point game and the account is small. If he gets stuck on the wrong side, he will learn, but even so, the loss won't be signifficant. And in the main time he is doing very well with the add ons.

There are other people here to criticize who are actually holding 5+ cars during a 20 points move against them without a stop loss posted, Sta... I don't remember his name. :)
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IMO size is not the issue (in this case). It's how he manages that account what is important & IMO he is doing the right thing by not over-commiting on most occasions. I am against his averaging down approach though. In current trade I am scaling in, but that was the plan from the start of the trade & I know where my personal "max pain" is. Let's remind ourselves of May 6th & how quickly things turned nasty, the more the leverage the nastier things got. If one is highly leveraged he can't afford the luxury of siting back and taking a moment or two to think - he has to close.

EDIT: If I was to speak my mind & my gut instinct I would have to say that I don't believe ICF is a rookie ;)
 
I don't know if IC FED has any personal trading goals, however if he were to double his money at the current level of exposure I would love to see him reduce size, by say 50%, and build his foundation to the current level...reduce by 25% and repeat...

Given fair 'luck', as I do not believe he has a definable trading 'edge' , I believe he could be a very successful and wealthy young trader in time...

He has started with a fantastic run of luck and by using a little common sense ( patience, humility and discipline) he could make his 'mark':cool:

NiN
 
Quote from Now is Now:

I don't know if IC FED has any personal trading goals, however if he were to double his money at the current level of exposure I would love to see him reduce size, by say 50%, and build his foundation to the current level...reduce by 25% and repeat...

Given fair 'luck', as I do not believe he has a definable trading 'edge' , I believe he could be a very successful and wealthy young trader in time...

He has started with a fantastic run of luck and by using a little common sense ( patience, humility and discipline) he could make his 'mark':cool:

NiN
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Oddly enough this is a very fair example of what I was getting at yesterday in my post.

Trading is a "top down" game and you start as you mean to continue.

If your method is solid and valid at one contract, so it will be at 10 or 20 or 30 or 50 contracts.

The detail can never ever exceed the original plan.
Therefore if you have a major FU, the devil is not in the details but in the original premise.
 
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