"take the money and run" type market

Quote from Steve Tvardek:

Like I said before, your opinion on the matter is going to handicap you in the long run. There was a period of time where I could make $300/day with my eyes closed almost and once you start doing that consistently it feels pretty good. Thing is though, its impossible to improve if you are complacent and content (and afraid of losing). Current conditions are just fine, sure volitility is down a bit from last couple weeks but the Vix is at 25! I made $230,000 last year daytrading when the vix was between 9-15 the whole year.

Enforcer, I hear what you are saying man, but believe me on this one, there is a lot of money to be made in this market. Dont cut yourself short. And dont only use guys in your office as a barometer. Maybe they arent that good of traders? If todays action isnt your strength, study it and try and learn why that is.

Finally, you will always be in a position to lose money if you are in trades, the goal is to get good enough where sticking around and being patient consistently pay off. I would never have gotten over the $300/day hump if I didnt continually push myself.
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I think it depends on how long you've been trading enforcer. Being complacement and afraid of losing is a very good trait to have early in this career (said by the few big professionals that have made it in this job who mentor students). I agree though if you are advanced at this point in time complacency can only be a holdback on your progress.


$230,000k daying last year?! What were you daytrading?? Sounds like you had quite the account size to begin with to be pulling those numbers in daytrading.

~Cx
 
$400 buck/day, even $4k/day is easy, you just need focus on only one trade. the difficult part is when you get the $400 bucks in a couple of minutes, you will change your mind immeadiately, he.. he.. he.., I made $400 bucks just in one minute, mmm, I get to sit here to do it over and over and over, I will make $4000, $40000... today. then oops, you lost $100 here, then another $100 there, ...then you become emotional: I get to gain back my loss today, then you lost mind, ......

the market changes in speed of light, we get dizzy and we get mentally tired... I find in the opening if I made 1k in a couple of minutes, I better take a rest, then back to work around 2:00, then do another trade, make another 1k easily. if I do not do that, I find it is almost certain I gave back the 1k gain and get very very tired, nothing gained.

why it is like that, I figure: I paid lots of efforts in the first trade (even in the evening, I rest but I was thinking about tomrrow's situation), then the next trade actually does not get so much thoughts since there is no time the market is spinning...
 
Quote from trader_david:

$400 buck/day, even $4k/day is easy, you just need focus on only one trade. the difficult part is when you get the $400 bucks in a couple of minutes, you will change your mind immeadiately, he.. he.. he.., I made $400 bucks just in one minute, mmm, I get to sit here to do it over and over and over, I will make $4000, $40000... today. then oops, you lost $100 here, then another $100 there, ...then you become emotional: I get to gain back my loss today, then you lost mind, ......

the market changes in speed of light, we get dizzy and we get mentally tired... I find in the opening if I made 1k in a couple of minutes, I better take a rest, then back to work around 2:00, then do another trade, make another 1k easily. if I do not do that, I find it is almost certain I gave back the 1k gain and get very very tired, nothing gained.

why it is like that, I figure: I paid lots of efforts in the first trade (even in the evening, I rest but I was thinking about tomrrow's situation), then the next trade actually does not get so much thoughts since there is no time the market is spinning...
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"Easy" is a bit of an exaggeration. Maybe for you, but you might have quite the account size to begin with.

~Cx
 
5k at a prop firm is all I put up. I got leverage of course but I knew how to use it. I generally only had one position on at a time and never more than 100K in BP used at any given time.

Quote from Cxinvest:

I think it depends on how long you've been trading enforcer. Being complacement and afraid of losing is a very good trait to have early in this career (said by the few big professionals that have made it in this job who mentor students). I agree though if you are advanced at this point in time complacency can only be a holdback on your progress.


$230,000k daying last year?! What were you daytrading?? Sounds like you had quite the account size to begin with to be pulling those numbers in daytrading.

~Cx
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Just go through the entire year 2006 P&L thread, I posted everyday up until mid Nov. First month and a half I didnt know how to post screen shots, but then I learned and had them showing my P&L and share count everyday.


Quote from Cxinvest:

So you are saying you turned $5k into $230k last year? Guess I'd have to see the statements on that one.

~Cx
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no exergagation about $400/day, 4k/day.

put your focus on those 50bucks above with news stocks, do not focus on those with no news stocks

for example today SIGM is a good trading stock

others like: VMW, BCSI, ACH, LFC, ICE, FCX, MDR....

I shorted SIGM with 1000shares in the opening, then covered it with 2k+, then I am done and go walking, after I cam back, it is around 11:30, pick up my shoolers, eat the lunch, get a nap and start to turn on the computer again around 1:30, saw the market was peaking (the whole market), then I shorted another 1000shares SIGM, I covred it about 30 minutes late, made another 1k, then I turned off my computer.

you do not need lots of money, just like 25k cash plus 4 times day trading power.
 
in order to get the easy money, need think and work hard with the market shut down. (the nosiese are too much), some guys are trading a lot, their target per trade is very small, like $0.2~$0.5*1000shares, I can not do that, I once tried but most likely I ended up making nothing and get tired, I switch my strategy into this style, taht works pretty well.

work smart, when everyone is sleeping, we need work. when everyone is on the market, going mad, just trade for the sake of trading, we have clear mind to initaite profitable trades , sit and relax, like fighting a well=prepared war
 
whether big money or little money, if a trader does not know how to trade, then whatever he has he will fail.

to me, when I started my account in 2003, my account is just 3k.
at that time, I traded those penny stocks, large size small money but produce super percent gain. tripled my account in the first year, then next year, I passed the day trading limit, after that, I frequently wired out my profit from my account (bi-weekly just like normal paycheck), I do not want to lose my profit with over trading and I find I can make a living on that even I may only trade at very limited time.

Marty schewartz turned $5000 cash account into 100k just in one year
 
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