Quote from thenewguy:
As you have probably noticed, ET is seperated into two camps. There are the people who have "done it"
That is not the main problem. It is people who ignore major statistics like "Risk of Ruin" and likelihood and reality. This population of people includes a huge percentage of people who have never done it but claimed they did, outright fabricators, those who have done it for a few months and luck has shone on them, etc.
and the people who tried, didn't, and now believe it's not possible. For whatever reason, the second group likes to try to convince the first group what they have done is not possible. Often.
While the first group (mainly) merrily bounces along in their fantasy.
Question, if it were this easy to make 300% a year, how come the investment banks with their reams of money don't have their high-placed traders working it in the liquid markets like ES ???
Question, if it were this easy to make 300% a year, how come vendors on Collective2, FuturesTruth, TimerTrac, Timer Digest, Hulbert, and other tracking services never manage to do this for any length of time?
How come in the contests like World Cup Advisor, you don't see the same gurus making 300% a year?
Question, if it were this easy to make 300% a year, how come CTAs in annual reports, by and large, struggle to stay above the zero line? How come so few make over 30-40%? How come large institutions that outperform the markets annual 7-10% return are heralded as geniuses? Surely trading the mega-liquid markets like TBonds, Eurodollars, Crude, S&P, etc. this would be doable for the Hedge Funds with less than $10 million under management???????????????????????????????
Jack has incessantly tried to get people to consider the market's potential.
Jack has incessantly spun reams of paperwork, trying to convince others who will listen, that he has "the Answer." However, any attempt to show rock-hard proof cause him to merrily skip away.
If something REALLY works, most people will defend it with evidence. Jack becomes deaf and blind when challenged for TRUTH. He talks at length about his acumen, and high-placed friends, etc.
In whatever instrument you trade, calculate how much money changed hands on whatever day. Another way of doing this is Jack's "crayola test" (I wonder how many people have ever actually done this... anyone???) and start at the beginning of the day, trace the path price takes, and figure out how much you'd make per contract for the day.
This is what's possible.
This is irrelevant. If I had tomorrow's newspaper, imagine how much money I could make. If I could go back in time and pick up some Honus Wagner cards, Microsoft stock when it was just a small company, $20 gold pieces fresh from the mint, I would be wealthy. Idle speculation has no value.
Now, what is humanly possible? Your only job is to clear out all the crap that prevents you from getting to that place.
There are some people who should not be listened to here.
Yes. Hershey lemmings who ignore reality is a good start.
The original question was "Is this enough capital to achieve his goal?" There is only one answer. Of course it is. There are literally thousands of ways he could turn that into a fortune in a very short amount of time, in plenty of different intruments.
As they say, the best way to make a small fortune in the futures market is to start with a large one.
The question isn't "does he have enough money", the question is "does he have enough knowledge".
This isn't a Teletubbies episode, like "Inkie Winkie milks the cow". It is about trading, and not about Tony Robbins motivational speeches. The market has little mercy for those who are ready to be shorn...
