If you were going to make 1 mil in the next 12 mo's, would you change your trading?

Quote from ElectricSavant:

is there anybody that would REDUCE their size if they had a larger yield than they counted with? percentagly (is that a word?) speaking?
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Bingo.
 
It's the accelerations that throw me off :) thanks steve ...


Quote from steve46:

Michael:

You really should know better.

All any goal requires is to work backward from your target

If you want to make a million dollars, you start by looking backward one step at a time. Each step requires that you answer (correctly) a question.

For example, your goal is to make a million $ trading. Alright how long do you have to make the million dollars? (say 1 year?)

Next question, how much do you need to make on a weekly basis to hit your goal? Answer.. you divide 1 million into 50 parts (weeks) and you know that you have to average $20,000 profits each week to hit your goal.

Next question, "which market(s) do I know well enough to trade and can provide sufficient liquidity to permit me to make a million dollars over a years time"? (Answer...I know the S&P500 futures market well enough and I know it has sufficient liquidity")

Next question, "Which trading approach will provide the best chance of making $20,000 dollars per week?" Answer....?

Next question, "What size trading account do I need in order to fund my trading account?"

Next question "What size positions do I have to put on in order to make $20,000 per week?"

What is the minimum profit target on a per trade basis necessary to hit my goal?

What is the maximum stop loss I can tolerate and still hit my goal?

Are you getting the idea?

Thats how its done. Simple.

Good luck
Steve
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Quote from illiquid:

Quote from granville:

Sure, I'd double no triple my position sizes so that I would make 3 Million in a year

That's exactly how you waste an edge.
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Waste an edge? That's exactly how to exploit an edge! Every successful trader/investor from Soros to Buffett goes for the 'jugular' when they strongly believe themselves to be correct. If you told me today that for every 50K I put down would = 1mm in a year guaranteed, (if that were possible), then I'd go for the big win!

Please explain your view if you disagree.
 
Quote from ElectricSavant:

you guys got to see this...I do not feel a part of the earth just now...trying to get back to reality...I am running my holodec and have not chosen which parallel possibility...I am floating....

http://video.google.com/videoplay?docid=-539383790954785832&q=what+the+bleep&pl=true
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Sorry, Savvy, that video's gay. The people are whackjobs.

After about a minute of searing boredom I skipped through it looking for the porn.

There was none.

End.

x
 
Quote from granville:

Waste an edge? That's exactly how to exploit an edge! Every successful trader/investor from Soros to Buffett goes for the 'jugular' when they strongly believe themselves to be correct. If you told me today that for every 50K I put down would = 1mm in a year guaranteed, (if that were possible), then I'd go for the big win!

Please explain your view if you disagree.
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What I'm talking about is increasing leverage. Sure, if you have a true edge, take out a second mortgage, credit cards, put as much as you can into it. But keep your risk proportional -- don't rush things by trading too big relative to your account size.
 
im a little confused by this thread and all the posts in it.....which is nothing new of course cause im not the smartest dude around but.......the thread reads......If you were going to make 1 mil in the next 12 mo's, would you change your trading.........well there is only two answers to this question and they both depend on how you interpret this unclear question........if it was ment to read....if your goal is to make 1 mil.....then all you would have to ask yourself is did i make 1 mil last year or ever with with strategy i am using....if the answer is no i have never made 1 mil then obvioulsy you would have to change something.......and the second way to interpret the original thread is....if you were guananteed 1 mill in one year would you change your trading......well the answer to that is.....it really doesnt matter what the hell you do cause you already know you gonna make 1 mill.........thread closed! :)
 
If you were going to make 1 mil in the next 12 mo's, would you change your trading? 'No' is the answer for any who actually know what they are doing.

Two elements apply because this is a time question.
1) You have to be able to relentlessly exploit the near term (eg the YM intraday), namely whole daytrading.
2) You have to be sufficiently cognizant of everything you need to know and do so as to deploy and build your play with increasing position size.

As for one mil, who's counting?
:)
 
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