PHOENIX TRADING's 2013 Prophet and Loss Journal

PT, may I ask you why did you choose trading as your main income source while at the same time you seem to be not competitive person (your goal seems to be not higher than what you believe is an average figure)? What is your motivation? I am seriously interested.
 
Quote from PHOENIX TRADING:

Well you see now that doesn't make a bit of sense unless you know a subsequent month has a high risk of losing 50- 70%.

c'mon don't give me the bluster and pretend 10k ends the scalability of your strategy.

We both know the reason you limit it to 10k is because it's apt to blowup , like a lit fart.

What's more ,everybody out there that doesn't believe in the tooth fairy knows it too. Nobody in their right mind would put such restrictions on a strategy like that if they were truly representative of it's consistent returns.
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I'm done with this thread. This is why I never post on forums or P/L's because of negative clowns like yourself. Your entire attitude is the problem. Best of luck, and make sure you get to 6000 posts soon.
 
Quote from Busta21:

1)I'm done with this thread. 2)This is why I never post on forums or P/L's because of negative clowns like yourself. Your entire attitude is the problem. 3)Best of luck, and 4)make sure you get to 6000 posts soon.
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1) Oh puhleeze if 48% gains/month were in any way representative of the consistent gains your strategy produced only a fool would limit the account size to 10,000 dollars. I mean shall I figure out what a mere 40% /month for a year would be?

wait for it (1.4)^12=56.69 So your 10,000 starting account would be worth a mere $566,939 at the end of one calendar year.

By the end of year 2, your $10,000 would be worth $32,141,997.
Now who in their right mind would be satisfied with making 120k when they could have made 32 million more than that?

2) I suspect it has more to do with people knowing when you're trying to blow smoke up their ass, than anything else.

3) thank you

4) rodger that, maybe you should let that $10,000 account ride for awhile and then you'll be so rich you won't feel obligated to post to mere mortals/fools on ET.
 
Quote from cornixforex:

PT, may I ask you why did you choose trading as your main income source while at the same time you seem to be not competitive person (your goal seems to be not higher than what you believe is an average figure)? What is your motivation? I am seriously interested.
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Non-sense, I just perceive myself as countering the beliefs that gains that would make the likes of ed seykota and tony saliba jealous are easily and readily obtainable on a consistent basis is a bit presumptive.
 
Quote from PHOENIX TRADING:

Non-sense, I just perceive myself as countering the beliefs that gains that would make the likes of ed seykota and tony saliba jealous are easily and readily obtainable on a consistent basis is a bit presumptive.
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I am not speaking about outrageous claims like multiply account by 1000 times in a year here, but from motivational point of view using "average" as the benchmark is not the best approach IMO. As for beliefs, we are traders, we rely on facts, if we rely on beliefs, karma punishes us very hard. :D
 
Quote from PHOENIX TRADING:

Non-sense, I just perceive myself as countering the beliefs that gains that would make the likes of ed seykota and tony saliba jealous are easily and readily obtainable on a consistent basis is a bit presumptive.
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15% on 10 mil is 1 .5 mil,30% on 1/4 mil is 75k,dont think they would be jealous
 
Quote from ammo:

15% on 10 mil is 1 .5 mil,30% on 1/4 mil is 75k,dont think they would be jealous
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Well that's fine , but obviously you haven't been paying attention, because busta was referencing making 48%/month.

slight difference there buddy.
Quote from Busta21:

Here is a P/L from last January on a VERY basic weekly options account strategy I use. $4800, one month, that account never has more than $10,000 in it at any given time.
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Quote from PHOENIX TRADING:

Well that's fine , but obviously you haven't been paying attention, because busta was referencing making 48%/month.

slight difference there buddy.
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there are no mother teresas or steve seagal's trading,this contrarian reaction you practice is good for contrarian traders, faders of up or down moves, bottom -top pickers, their nemisis is a trend day,fading an all day up or down move,plowing your way thru one of those without the ability to be wrong will wipe out your hard earned monthly profits 3 days a month,eventually your acct,so ya gotta ask yourself,is it more important to be some shitkickin internet cowboy or to win the game,this is your town bell ringing loud and clear in most of your posts,two things happen when you morph into a trader, you learn to read the market and you learn to be one wtih it,to do the latter you have to leave every stupid human idiosyncrosy behind..this is for everyone ..no exception..not a personal attack..the market is set up to take advantage of all of our vanities
 
put another way,you are the driver and the car,the market is the track,do you want seagal or mother teresa in the passenger seat or would you rather not have the distraction
 
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