Preparing to make the move to trading full time

Quote from innovest_11:

Is your monthly profit more than twice of your regular job salary?
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Yes, it is more than twice my regular job salary. That is why it has taken me 6 plus years to get here. I wanted to make sure I was in a sound financial condition before making the switch.

Thanks for the encouraging words cyoungmark
 
Quote from Dustin:

Have you been profitable in simulator? Do you have a trading plan or an edge?
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You didn't really answer this question directly.

Dustin is extremely good, and he is obviously willing to help you a little.

I am wondering how you did today as well. If you lost, but followed your risk management rules, then good for you. Losing is simply part of the game.

Good luck man.
 
just cut the crap. If you have 70%+ win rate and you can scale up, bet 10% of your NAV. After you win reinvest all the winnings in anotehr trade and it is all over.

you are rich.
 
Quote from macroman:

just cut the crap. If you have 70%+ win rate and you can scale up, bet 10% of your NAV. After you win reinvest all the winnings in anotehr trade and it is all over.

you are rich.
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Have another drink.
 
Quote from macroman:

just cut the crap. If you have 70%+ win rate and you can scale up, bet 10% of your NAV. After you win reinvest all the winnings in anotehr trade and it is all over.

you are rich.
More...

if you cant scale up like this you are not ready ! You are dreaming.
 
why bother trading 16 hours a day, if you can end all in couple of trades and have a real life ?!!?!


i mean, if you reall ythat good. Which i suspect you are not :D
 
reality is that you just 'found' a way and think that s it. Well it is not. You are likely in drawdown period astoo many people found the same way, including machines.

There is no substitute for experience.
 
Quote from Dustin:

How was the first day?
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First day went well. I traded my bread and butter and came out ahead (real money). Made one bone head move, adding to a position when I was trying to scale out but I will have to be more careful in the future. Spent far more time in front of the computer then I would have at the office but I truly enjoy it so I don’t have any complaints.

Also, made some paper money on another strategy I am working on but it’s too early to tell if it will work in the long run.
 
Quote from jnbadger:

You didn't really answer this question directly.

Dustin is extremely good, and he is obviously willing to help you a little.

I am wondering how you did today as well. If you lost, but followed your risk management rules, then good for you. Losing is simply part of the game.

Good luck man.
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I initially sim traded my main strategy years ago for a few months before going live in order to determine its viability but I should note that I have been trading it live for a few years. I do paper trade new strategies before going live with them.

Yes, I do have a trading plan but, and I know I will get chastised for this, but as far as edge is concerned I can only say that it would have to be judging direction (or ranges) which I am sure some feel isn’t an edge at all but I am just answering the question.
 
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