LOL At Those Who Try To Get Rich Trading

[Turveyd]

QUOTE="Turveyd, post: 4222206, member: 483471"]The issue is, your talking about single month, not the long term effect which is well stupid.

Don't agree. The point was what the OP wrote: you cannot make a living from a 10K account.
My answer was related to that statement. I speak about every month over and over again 200%, not just 1 month.

Just to show how stupid this compounding argument is: Renaissance makes around 80% net a year.
So after 20 years with only 100 million starting capital they should have $12.748.236.216.396,10 . They surely don't have this amount of money, not even 10% of it. And their starting cpital was much higher than a lousy 100 million.
Even the 10 year compounded result of $35.704.672.266,24 is still far away from what they have in capital.
So they fall in the same category is me? Trolling or plain stupid?

Renaissance stopped already a long time ago to accept money and they already distributed lots of profits because they cannot handle the money anymore. They confirm that the compounding theory to make gazillions is total nonsense. Only newbies still watch that theory as they are so focussed on trying to become rich. Real professional traders don't focus on becoming the richest man on earth. They are interested in quality of life. But if you are not successful in trading you really need money, money, money to pay the bills and survive. Then you start compounding and dreaming about money.[/QUOTE]

Sorry for the friendly fire on that 1 then!


I'm sub 10k, I'm nearing 100% for the year, but my account balance is negative, due to bills and other issues, trading bails myself out to frequently, without would be screwed, so all good.

I could easily live off a 10k account, withdraw back to 10k every month, the profit % mainly depends on how much time i put in, running at about 2% of my time devoted to trading.

Need some bad day savings recovery put away aswell for those bad months of ofcourse.

Maybe April, to renew contract or cut and run hmmmmm!

 

[trickshot]

There are apparently also a few problems with your reading abilities (or maybe with your huge ego, which can detremental in trading).

In my first posting I said that I make 200% a month.

In my next posting I gave an example to clarify my first posting: If my account is $2500 and I make during 20 working days net 2.5 points ES a day on 2 contracts, I have a net profit of 200%. And I will not have gazillions. (20*2.5*50*2=5000). If compounded the profit will even reach $12,250 or 490% (12,250/2,500)
Proof me where this is wrong. You cannot as it is not wrong. SO YES I MAKE 200% A MONTH.
I daytrade for +20 years by now. To avoid that you will start to make wrong assumptions again: I don’t say, and never said that I was making 200% a month from start (20 years ago). So don’t start to calculate 200% a month for 20 years.

Your next remark: "Nobody cares if you managed to make a 200% returns a month for 3 months, because you are almost certain to fail at some point, trading with that kind of leverage."
This remark is contradicted by reality as I still survive after +20 years of daytrading. I wiped out years ago 1 time, learned my lesson and from then till now my maximum drawdown has always been less than 30% after thousands of trades. I cannot and will never fail for the simple reason that I only use a small amount of my capital. I would never compound the way you do in your assumptions. Even wiping out 20 times in a row will not hurt me anymore. That should be obvious because at 200% profit a month, after 12 months I have already 24 times my invested capital put away for bad times or to diversify my investments. So after 20 consecutive wipe outs I stuill have 4 times my initial capital left over to start again. I explained this already before in a very detailed way. Smart traders will never compound the way you do in your calculations. On top of that my calculations show clearly that I don't compound at all. So your compounding argument is totally irrelevant.

I also wrote: "I can make a living from a $2500 account. Making a living means at least net $5000 a month."
This should be very clear: make $5000 for a living. This means that you take every month $5000 FOR A LIVING. So clearly no compounding at all as you take the profits to live from.

So the question is: who is trolling or plain stupid?

Tell me where my explanation is wrong. But don’t start to make own assumptions out of frustration and manipulate my statements.

We are talking about trading for a living, not trading for the best one month performance here, who the fuck cares if you make 200% a month unless you can do it with some consistency? Do you only pay rent when you make money? Or do you live in your mom's basement so that isn't an issue for you? Lmfao.

And you are wrong if you think you can afford to wipe out 20 times in a row just because you manage to make 200% in some months. Assuming you make 5k for 12 mths and then proceed to blow up 20 times in a row, you'd only have made a net 10k for those 12mths, I don't know where you live but 10k a year is neither a living nor decent wage in where I live.

Also you aren't exactly trading with 2.5k if you are continually refilling your account when you blow (which is pretty often I suppose).

 

[trickshot]

No, even if you start with $100, at 200% per month, at the 12 month mark you'll have 53.1MIL, obviously you don't own all the money in the world till month 18 area LOL

Ofcourse, as the account goes up making 200% is trickier, I've made 200% a few times over the years in a week.

The issue is, your talking about single month, not the long term effect which is well stupid.

Exactly. Long term is what people care about when people talk about trading for a living.

 

[i am nobody]

We are talking about trading for a living, not trading for the best one month performance here, who the fuck cares if you make 200% a month unless you can do it with some consistency? Do you only pay rent when you make money? Or do you live in your mom's basement so that isn't an issue for you? Lmfao.

Still problems with reading plain english.

I clearly said I make 200% net every month. If I make every month 200% it means that my average is even higher. To make 200% every month it means that the worst month is 200%. The word "every" means always. So where do you get the info that I live with my mom? If I would live with her I would be living on the graveyard.
I also said that I could live from a $2500 account. But in reality my account is a lot bigger. I would be an idiot to trade only $2500 with the returns I make. So your statements about having no money to live is totally wrong in my situation.

And you are wrong if you think you can afford to wipe out 20 times in a row just because you manage to make 200% in some months. Assuming you make 5k for 12 mths and then proceed to blow up 20 times in a row, you'd only have made a net 10k for those 12mths, I don't know where you live but 10k a year is neither a living nor decent wage in where I live.

This statement was to counter the fact that according to you I would one day lose everything I have wit the leverage I use. I can never go broke. In the last 20 years I never wiped out my account even ONE time.

 

[marketsurfer]

Don't agree. The point was what the OP wrote: you cannot make a living from a 10K account.
My answer was related to that statement. I speak about every month over and over again 200%, not just 1 month.

Just to show how stupid this compounding argument is: Renaissance makes around 80% net a year.
So after 20 years with only 100 million starting capital they should have $12.748.236.216.396,10 . They surely don't have this amount of money, not even 10% of it. And their starting cpital was much higher than a lousy 100 million.
Even the 10 year compounded result of $35.704.672.266,24 is still far away from what they have in capital.
So they fall in the same category is me? Trolling or plain stupid?

Renaissance stopped already a long time ago to accept money and they already distributed lots of profits because they cannot handle the money anymore. They confirm that the compounding theory to make gazillions is total nonsense. Only newbies still watch that theory as they are so focussed on trying to become rich. Real professional traders don't focus on becoming the richest man on earth. They are interested in quality of life. But if you are not successful in trading you really need money, money, money to pay the bills and survive. Then you start compounding and dreaming about money.

![/QUOTE]

If this is true, u should try a prop shop ---

 

[Turveyd]

!

If this is true, u should try a prop shop ---[/QUOTE]

Nah too much out goings wise, over complicate things, wouldn't be able to trade off phone, might not like my logic/method, don't really trust any of the buggers, time wasted looking into, bla bla bla bla.

Moneys fine, can and do make $200 is 10mins, it's the time to trade and the focus I'm lacking currently, busy year, MIGHT calm down in Jan, or I might stupidly take another huge system dev on ( Meeting 10am 4th Jan for just that, I said yes to it 6months back, it vanished, it's came back )

 

[JB3]

This thread is by not meant to be offensive to anyone.

I am not knocking the traders who make a decent return with decent capital and compound their net worth or make a good income but those who try to make 500% per year and expect not to lose everything.

Its not a worthy investment of your time if your goal is to become wealthy. You would need a series of very asymmetrical bets in trading to be wealthy. Risking 10% to make 200-1000% etc returns found in CDS and black swan option plays. Trying to make 500% per year with symmetrical bets your bound to have a 100% drawdown before you reach 500% by chance.

Im in college and some classmates think they are going to make millions trading with "game theory fk maths/stats"

And you have your solution already. Make asymmetrical bets. It can be done.

 

[traderob]

Still problems with reading plain english.

I clearly said I make 200% net every month. If I make every month 200% it means that my average is even higher. To make 200% every month it means that the worst month is 200%. The word "every" means always. So where do you get the info that I live with my mom? If I would live with her I would be living on the graveyard.
I also said that I could live from a $2500 account. But in reality my account is a lot bigger. I would be an idiot to trade only $2500 with the returns I make. So your statements about having no money to live is totally wrong in my situation.



This statement was to counter the fact that according to you I would one day lose everything I have wit the leverage I use. I can never go broke. In the last 20 years I never wiped out my account even ONE time.

you are a joke

 

[i am nobody]

you are a joke

Your contributions on ET are:

1. Older men date younger women
2. Right wing extremists…
3. Russian babes are hot
4. LA school board and police are joke (most things are apparently jokes for you)
5. Mosques and Jihadi network
6. ...

Or in short: you are a real professional trader, it shows.
You are not even a joke.