Thank you Steve, that response was well written and very constructive! There are so many negative attitudes on this site its rediculous.
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Starter Account Size for Emini S&P?
- Thread starter EminitraderDM
- Start date
Thank you Steve, that response was well written and very constructive! There are so many negative attitudes on this site its rediculous.
So you know that my result's don't exist? Wow, that's amazing.Quote from EminitraderDM:
My biggest problem with traders is that everyone has big mouths when in comes to advice but when it comes to actual results they dont exist.
You're looking for touchy-feely responses from a bunch of traders? Frankly, that's stupid. I told you straight out that I don't mean to discourage. Others have said the exact same thing I did. And you're whining about how we're meanies?
Good luck.
I guess you mean 'ridiculous'. It's okay, I don't believe in a positive correlation between IQ and trading ability (or your field, sales).Quote from EminitraderDM:
There are so many negative attitudes on this site its rediculous [sic].
Too bad that 'i' isn't closer to the 'e' on a keyboard, huh? You could claim a typo : )
<i>"Im in real estate, arguably the toughest busines to make a dime,..."</i>
No it ain't... not even close. You're about to step into the toughest business by far, because it's 90% mental = emotional.
As for the -1pt initial ES stops, that will never work over the course of time. Ever. You do not know a lot of ES traders who are successful using 1pt stops. You have read some b.s. propoganda from a few who profess to. There is a difference. Trust me.
You've been given some solid, honest bits of advice here upon asking for such. You will learn many things going forward, unfolding over time. Enjoy the journey!
No it ain't... not even close. You're about to step into the toughest business by far, because it's 90% mental = emotional.
As for the -1pt initial ES stops, that will never work over the course of time. Ever. You do not know a lot of ES traders who are successful using 1pt stops. You have read some b.s. propoganda from a few who profess to. There is a difference. Trust me.
You've been given some solid, honest bits of advice here upon asking for such. You will learn many things going forward, unfolding over time. Enjoy the journey!
5000 is very reasonable in my humble opinion. Why on earth would you need 50k to trade 1 emini SP contract? If you feel like you know what you are doing and have put in your dues, 5k is plenty. I mean there are brokers that will let you trade 10 contracts with that much. I would not advise that though but you get where I am coming from. I see no issues with you turning 5k to 6.5k-7.5k in a month if you are consistent and conservative.
Pretty interesting Devin wants to dispute and renounce the comments of veterans.
Regarding results, the only results that matter are YOURS. You couldn't/wouldn't do what I do, just as I couldn't/wouldn't do what you do. I could give 10 traders tomorrows newspaper: 10 traders would not be profitable.
Remember this kiddo... The market is ALWAYS right, no matter what you think or want to believe.
Osorico
Regarding results, the only results that matter are YOURS. You couldn't/wouldn't do what I do, just as I couldn't/wouldn't do what you do. I could give 10 traders tomorrows newspaper: 10 traders would not be profitable.
Remember this kiddo... The market is ALWAYS right, no matter what you think or want to believe.
Osorico
Quote from EminitraderDM:
Thank you Steve, that response was well written and very constructive! There are so many negative attitudes on this site its rediculous.
No problem!
I think there have been some great responses, just sometimes the written word comes across a bit harsh is all.
I think one of the main things to remember when sim trading is to not cheat.
Another thing that is completely and totally true, and you need to believe, is that being successful in your career, sports, love etc. absolutely does not mean you will be a success at trading....... more often than not, it means the exact opposite. Again, been there, done that, went Ch 7 to prove it.
I've been in the game for 10 years and am still learning - check out a great mentor: http://www.youtube.com/user/SnP500Trader check him out, see if he helps you too!
Steve
Im about to be 100 % honest with you. Im not trying to be mean so understand this. The odds are against you tremendously. I have been reading your responses and i can tell your not ready. Please stay on sim. What you have to understand is being a trader you are independent. Your going against the top pros everyday. You are not a pro. I have blown up before and it was the greatest thing that has happened to me. why? i was just like you. my head was in the clouds. i though i was a 19 year old prodogy going to kick everyones ass. After my blow up it crushed my ego and i did something about it. I said this is something i love and want to become a professional at. I eat breath and sleep this stuff. I take trading with the upmost seriousness because when you let your guard down you lose. Ask yourself this. How does a professional athlete make it to the pros? He works his ass off all day everyday, harder than anyone he knows. when he meets someone better than him he will bust his ass even harder. Now ask yourself how do you take trading. are you up until the wee hours of the night studying your charts. Are you coming up with a game plan the day before. Are you training yourself mentally? This business is going to show your true colors. when you get kicked in the balls are you going to get back up and wear a cup next time? Only you can make yourself successful. From what i have read your not ready to go head to head with any of the sucessful traders on this board. These guys will pray on you like they did me. You got to get cruhed before you can learn to walk again. Please dont take anything personal. i wish you the best of success. But until you devote yourself like a true professional that light at the end of that dark tunnel is a train.
Quote from EminitraderDM:
You guys need to dump the gold digger girlfriends (so to speak) and find some one new.
You haven't done anything beyond paper trading and you're giving veterans advice on broker selection? Like the other poster said, you're doomed before you've even started.
Your blow up is inevitable - fund the account with the minimum to handle the largest loss your "system" can generate. When it's gone you can reflect, revise, and reload.