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running money - 35% a year
- Thread starter coolweb
- Start date
Quote from coolweb:
Thats 5 years of experience right there.
flipflopper, I'm already managing decent money right now, mostly my own money.
I don't sit around and post for a living.
Each profitable trade can be worth around 80-200k to me.
10 trades a year.
Less is Less mistakes.
Here is what you have said:
You risk 1% to make 7-15% so lets say you average 1 to 11 risk reward.
Your targets are $80K-$200K so lets say $140K on average.
That means you risk on average 13K on a trade.
You also said you risk 1% of account equity on a trade.
This means you have a $1,300,000.
You said you started with a 10K account in 2005.
This means you made an average annual rate of return of 165%. This is a total rate of return of 12000% over the five years.
Why would someone as good at trading as you be only shooting for 40% returns?
If you can prove this track record you will be the richest man on the planet. So congrats on that.
Quote from flipflopper:
Here is what you have said:
You risk 1% to make 7-15% so lets say you average 1 to 11 risk reward.
Your targets are $80K-$200K so lets say $140K on average.
That means you risk on average 13K on a trade.
You also said you risk 1% of account equity on a trade.
This means you have a $1,300,000.
You said you started with a 10K account in 2005.
This means you made an average annual rate of return of 165%. This is a total rate of return of 12000% over the five years.
Why would someone as good at trading as you be only shooting for 40% returns?
If you can prove this track record you will be the richest man on the planet. So congrats on that.
How about taxes? That would be a helluva track record.
nowhere in my thread does it say i had 12000%
mainly 20-30% per year and thats not with full capital.
As time goes on , I add more capital , not from trading profits.
I can make $50k on $100k capital
total = $150k
then add $100k external capital
total capital next year = $250k
In reality this has nothing to do with trading, experience is required to make money, capital is just an X variable.
In trading capital is insignificant.
I can raise 2-3 million right now just from direct family to add to my current capital.
Key is to not lose the money.
mainly 20-30% per year and thats not with full capital.
As time goes on , I add more capital , not from trading profits.
I can make $50k on $100k capital
total = $150k
then add $100k external capital
total capital next year = $250k
In reality this has nothing to do with trading, experience is required to make money, capital is just an X variable.
In trading capital is insignificant.
I can raise 2-3 million right now just from direct family to add to my current capital.
Key is to not lose the money.
missed the trade on citibank on friday (I had a position on it but sold during the chop fest)
I'm watching the gold trade,
when its the right time to buy, i'll be buying, right now is still not the right time.
I don't like buying bottoms.
may be more reward, but the predictable factor is not there.
I'd rather take a trade thats more predictable * 100 * 13% reward then less predictable * 50 * 20% reward
sitting here as a wolf waiting for injured sheeps
patience patience patience.
I'm watching the gold trade,
when its the right time to buy, i'll be buying, right now is still not the right time.
I don't like buying bottoms.
may be more reward, but the predictable factor is not there.
I'd rather take a trade thats more predictable * 100 * 13% reward then less predictable * 50 * 20% reward
sitting here as a wolf waiting for injured sheeps
patience patience patience.
Quote from coolweb:
nowhere in my thread does it say i had 12000%
mainly 20-30% per year and thats not with full capital.
As time goes on , I add more capital , not from trading profits.
I can make $50k on $100k capital
total = $150k
then add $100k external capital
total capital next year = $250k
In reality this has nothing to do with trading, experience is required to make money, capital is just an X variable.
In trading capital is insignificant.
I can raise 2-3 million right now just from direct family to add to my current capital.
Key is to not lose the money.
So everything you have and are saying is hypothetical... I had a feeling the numbers didn't make sense. Making 50K on 100K capital means you would be using 1 to 50 risk reward if you only risked 1% of capital. It's funny when people don't realize how outrageous their math really is.
By the way in case you didn't notice I calculated 12000% based on all the numbers you were throwing around. If you want to be a con man at least make sure your numbers make sense. I can see you are learning from your master Madoff... he got away for so long claiming 30% returns.
Hopefully your family won't press charges when that money is gone.
I'm not a very good ES trader, cause it doesn't move much. Going short on it doesn't make me much money at all even if you get it right.
<b>
but I'd be short the ES here 1145.75, stop 1146.25 </b>
I would not trade this with any decent sized money... daytrade SHORTS don't return much money. Even if I short something, Its a bit too volatile for me.
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I still trade ES with 1 contract or even virtually in my brain mainly to improve my price pattern recognition
<b>
but I'd be short the ES here 1145.75, stop 1146.25 </b>
I would not trade this with any decent sized money... daytrade SHORTS don't return much money. Even if I short something, Its a bit too volatile for me.
----------
I still trade ES with 1 contract or even virtually in my brain mainly to improve my price pattern recognition