Pros that Blew out several times before success

Quote from Red_Ink_inc:

Why is it every wise/dumb ass in the universe seems to have converged here in the last 3 months? Of course it doesn't make sense to you. He trades futures, do you have any clue what type buying power a $75k account will get you?
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yea, ive browsed this board for about a year, then joined and can barely even read it anymore. its funny because i was reading acrary's system developement thread that i saved to text today and can't even see how something like that could be posted now. 10 hot shots telling acrary he doesnt know what's hes doing, probly would have gave up after the 2nd page.

to the thread starter just get the two market wizards books. you will see how absurd half the responses in this thread are.
 
Interesting thread as futurescalper seems to know exactly what he wants out of the market and why he is in this business. On the flip side I have seen many traders blow out and the reason is simple...they are in this game for a different reason. These are players that have made and lost millions on moves...rarely do you see a person that makes $400k a year have a blowout. Instead you witness a deterioration in their money making skills and they leave the game.

This is not meant to insult...but I would say this much and that is the only way to get ahead in this game is to have a couple of big years. Otherwise the expenses begin to eat into your account value if you ever move sideways.

In your example --- and I hope this never happens --- if you make $150k a year and keep 75k in the account, what happens if you go sideways for 1 year? You have to have about 100k on the side to live and therein lies the rub, because even the best have had down cycles.

Just a thought...keep trading well
 
I have no problem showing my statements but for the people who request them Id like to know where they are at, as a matter of fact Im working on my quarterly now. Im not saying this is easy to all you nay sayers its taken me a few years(More than few to be exact) to get to the point of saying I do this amount. Anyhow I dont have the energy nor do I care to prove myself on this board nor will I spend time posting here endlessly I find the site more useful for software reviews and other web site info, take everything with a grain of salt that you read on here. I agree I dont expect anyone to believe anything here at face value sure I could be a fraud and just making this up as anyone else here could. So bottom line is who sleeps at night content and happy with where they are at here? I know I am at this point in my life and I know it 7ill continue If I do what IM doing and dont stray.
 
Im prepared for sideways years etc, but the way I trade I highly doubt that will happen as I never go for the monster moves those days are so over for me. I have become so emotionless whether I stop out or in profit. and again it truly is discipline that no book or site can teach.
 
Quote from chch66:

Interesting thread as futurescalper seems to know exactly what he wants out of the market and why he is in this business. On the flip side I have seen many traders blow out and the reason is simple...they are in this game for a different reason. These are players that have made and lost millions on moves...rarely do you see a person that makes $400k a year have a blowout. Instead you witness a deterioration in their money making skills and they leave the game.

This is not meant to insult...but I would say this much and that is the only way to get ahead in this game is to have a couple of big years. Otherwise the expenses begin to eat into your account value if you ever move sideways.

In your example --- and I hope this never happens --- if you make $150k a year and keep 75k in the account, what happens if you go sideways for 1 year? You have to have about 100k on the side to live and therein lies the rub, because even the best have had down cycles.

Just a thought...keep trading well
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3 posts and already posting like an expert. Too many noobs.

The key is to cut your costs and decrease your risk/reward
 
One last thing regarding 75k in my futures account I dont even need that much in the account I never trade with more than 20k of it and even there my risk is never more than 2500 on a big trade. And the last three years I havent had 7-10 days of getting stopped out straight, not even close. Im not saying Im the greatest but I have become in sync with the instrument I am trading. Can there be a catastrophy that could screw you? OF COURSE! But so far thankfully that hasnt happen but thats always a risk in the market. Thats why Im in and out and cash every night.
 
Quote from Futuresscalper:

One last thing regarding 75k in my futures account I dont even need that much in the account I never trade with more than 20k of it and even there my risk is never more than 2500 on a big trade. And the last three years I havent had 7-10 days of getting stopped out straight, not even close. Im not saying Im the greatest but I have become in sync with the instrument I am trading. Can there be a catastrophy that could screw you? OF COURSE! But so far thankfully that hasnt happen but thats always a risk in the market. Thats why Im in and out and cash every night.
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Another guy with 10 posts who just joined..annoying

If you make 1K a day congrats..I don't really care one way or another.

There will always be people making more money than you and those making less.
 
To Stocktradr3, I wont post again and I know that tons of guys make more or less who cares the discussion was about discipline. I have been reading this site for about a year on and off and its guys like you who act like veterans that make me laugh because I dont care either who makes more or less I thought Id add my two cents on discipline which no one will make me think otherwise and there are others here who appreciated. So Im sorry if I offended the Michael Jordans of trading here, what a joke!
 
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