Hey, look, I was advised by my financial adviser to not make daily or even weekly wire requests, because money anti-laundering laws have caused that sort of behavior to be given a double-take by the government. And I don't NEED to take weekly bits out of my trading account. OK? *shrugs*
Surf Report
- Thread starter marketsurfer
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Hey, look, I was advised by my financial adviser to not make daily or even weekly wire requests, because money anti-laundering laws have caused that sort of behavior to be given a double-take by the government. And I don't NEED to take weekly bits out of my trading account. OK? *shrugs*
I know. Nothing makes sense. I never knew my broker offered me a checking account. Thank you for your input.
This for anyone not just surf..
Lets say trader X wants to trade the ES
1) trader X wants to net $200.00 to $500.00 a day
2) trader X will never trade more than 3 contracts. Generally, only 1 or two contracts and scale in 1 or 2 when his system indicates to do so.
3) trader X SL per contract is on average 1 point but never more than 2 points.
4) trader X has a system with a win rate of 70%
5) trader X always brackets his orders UPON entry with a stoploss and PT.
6) trader x ONLY adjust PT after the trade goes his way and he knows the actual risk he had to face before it went his way and the strenght of the move in his favor.
7) trader x is always flat before the close
8) trader X generally finds 10 to 20 trades per day but picks the strongest ones to trade
9) trader X never plans a trade with less than a RR 1:1 AND USUALLY TAKES those trades that have a probability of rendering a RR2:1 TO RR5:1
10) trader x average win is at least twice as big as his average loss.
Assuming the above can be done, and is being done, then why would trader X need 100k to have a chance to make it trading the ES?
Why would trader X not be able to trade with a smaller account and use more than 2% of his account on any one trade?
Thanks
Make sure you ask your advisor/broker about ACH also. That is unless your broker is third world, then SWIFT will be required.
Trading and investing are two different enterprises with different languages. It is of no relevance what someone else thinks your return may or may not be. The only thing that matters is your blotter at the end of the week, month, year. ET is well populated with people who not only are incapable of trading successfully, many don't even know what it is or what it entails.
Yes, thank you Mr. Surf. I never knew ACH existed in the USA. I am SO happy that ACH is the immediate transfer option I need if I need to live paycheck-to-paycheck off my trading account. I mean, when I need the money TODAY, ACH is the best choice! *thumbs up*
You have so missed the point of my points, there's no use going any further on this tangent point. Point taken?
Some will give a debit card. I use to travel in 3rd world..trade make money..go to ATM ...pull out cash ..or simply use the card as credit card and make a charge.
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