GET RICH QUICK BABY! Need your criticism...

[BillySimas]

Quote from Ripley:

I tried the maximum contracts I could try on a position trade and not on a scalp. The mistake I think I used to make was that I would take on a huge position, and then add onto it as it got profitable. Thus, I wasn't being careful with my entries once the position was profitable because the thought that the position is profitable kind of made me careless in adding more. I also didn't have a good position sizing, because sometimes I added more than the initial position which could really turn out pretty bad.

So, what I would do is, for an intraday swring trade would be, put in half your account on a 100% trade. And only add the remaining 25% of the account value once the position is profitable and looks like there is more room to go. And if it gets back your break even point, get the hell out and try again.

This crap sounds dangerous. I 'd pretty much put on the max position possible on my entry and peuk out if it didn't work out, which would be astronomically improbable.

 

[Cdntrader]

Quote from BillySimas:

What I'm going to ask here is only IN THEORY. Say you have about $60,000 of your own money that you can trade with. And say you wanna trade the 30 year t-bond futures market. And you wanna go for one big score, get in at a particular price, hold it for a few ticks and get out. How would you go about MAXIMIZING your possible earning potential in this scenario? No holds barred, caution to the wind, you just wanna risk everything on one trade. I don't mean strategy, I just mean what acccount would you open in order to trade the most possible size? My IB account's margin is 2k per contract, so with 60k, i can only trade a 30 lot. $900 per tick. That's not enough. Would you try to raise a bunch of money, enough to trade a 1000 lot or something? How would you go about acquring the ability to trade the absolute maximum size and making the most money on one trade?

you need to find the broker with lowest intraday margins.

 

[OldTrader]

Quote from BillySimas:

I guess maybe I'm doing something wrong then as far as my margin goes. Hey OldTrader, do I need to declare myself an intraday trader to be able to trade that many contracts? Because as it stands right now, I think I can only trade 30 lots. 71 would be great.

Here's the link:

http://www.interactivebrokers.com/en/trading/marginRequirements/margin_amer.php?ib_entity=llc

 

[traderich]

jaronimo and the other guy,

you got it all wrong. everyone knows that the smart money is on the green numbers on roulette!

 

[5yrtrader]

Take out an extra mortgage on your house, use that equity to increase your position size for your 99% profitable trade, then pay it off the next day with your profit. Or try to get some other loan, it will be for such a short period you won't have to worry about interest! How about getting a bunch of credit cards and getting a cash advance.