*** My Trading Plan ***
- Thread starter I Trade 4 Money
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Last thing I plan to add. You have ignored a number of people who have been willing to wonder about your plan in a negative fashion.
Do you think they are doing this for your health? They are likely the ones who understand, and they are the ones you are ignoring.
Given what I have seen in the industry (I worked at a major investment bank) and what I see from you, I place your odds at about 00.05% Unfortunately, you are motivating yourself to ignore all realities. The market has no concern for either your plan or for you. This is what you are ignoring.
Goodbye
No I'm not. I admire your input. I want an explanation why. You're making incorrect assumptions about me.
What do you mean? How am I blind? What are you trying to get through to me? What do you suggest I do?
I know that market has no concern for either my plan or for me. All I know is I'm doing better with the plan at this moment. This is the first week I implemented my plan. This has been my best week so far even though it was a losing week. Quite frankly, if I stuck with the rules in my plan in strict fashion, I would have been positive for the week.
Quote from I Trade 4 Money:
Before you read this post , you should first take a look at my first imfamous post here:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=78466.
Now here's my update.
Man!!! How naive I was when I made my first post!!! I recently graduated and joined a prop firm. Came into this firm all gung ho, feeling like the MAN, thinking I knew everything and shit and BAM!!!! I lose around 1000 right off the bat in a couple days. It's been approximately two months since I joined this firm and I'm on the verge of finishing off my first deposit of 5000. Below is a picture of my equity curve...
<a href="http://img150.imageshack.us/my.php?image=equitycurveem9.jpg" target="_blank"><img src="http://img150.imageshack.us/img150/6/equitycurveem9.th.jpg" border="0" alt="Free Image Hosting at www.ImageShack.us" /></a>
As those of you who trade know, trading can be a very humbling experience. You can throw all your hopes and dreams straight down to the toilet. I've been been getting ripped a new asshole trying to trade on a daily basis, LOL!!! It looks my goal of obtaining $200,000 in 2008 is all but improbable. It's possible, but highly improbable. My first goal should simply be this: survival!!! I have to stay in this game long enough to know how to play this game until i start to "GET" it. The advice I received in this thread was gold. I was an immature, naive dumbass blind kid, having a false sense of hope, ignoring all advice, thinking everyone was trying to get to me and put me to the floor. I guess I had to get my ass handed to me before I started opening my eyes. I had to get my ass pummeled to the floor, experience hungry non-forgiving traders taking my money away from me(like taking candy from a baby) to understand what some of you had to go through and what some of you were trying to get through to me. I apologize for my naivety and ignorance to all who I ridiculed and ignored. With that said, I have to ask you guys a question(preferably those who went the prop route and/or trade on an intraday basis). What did you guys do to start making money(6 figures or more) on a consistent basis? Share me and everyone else your story of the trials and tribulations you faced when you started trading and the key determining factors that contributed to your success, what you learned through this journey, etc. etc. It'll be a good weekend read with all this snow up in NYC!!!
I've read this whole thread and like the previous poster talking about your avoidance of the realities of trading - it amazes me.
This quote above tells me a couple things. You think you own this trading plan, but you don't. You've just added a bunch of fluff into a document that you haven't paid any regard to if it represents the truth about what and how you will trade or not.
You don't even know if you have an edge and seem content to throw your money away out of hope. Give it to me, at least I'll send you a Christmas card (as long as it covers postage).
I was once the same, and it took a while for me to realize that no, I'm not different then everyone else and that I still have to do the hard work and use a proven edge. Once that occurred, then and only then did my 12 page trading plan start to have any meaning.
I agree with the previous posters comments. Positive thinking is all well and good, but avoiding the realities of trading is not wise IMO.
Good luck to you, I'm through reading this thread.
Best regards,
MK
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