The Billion $$$ Quest 2007

Quote from steve46:

Based on what I remember, you were a net loser because you didn't have an edge and you couldn't execute in a disciplined manner.

Did you do the testing necessary to find an edge? If so, you didn't mention it, and yet it is vital to your success.

Have you found a way to control your emotions and execute the plan? If so, again you haven't mentioned it.
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I had the right idea even then.. But, I think I tried to play for the sake of playing.. trading little bit too much. But, I have identified a way to counteract that by taking bigger positions during the critical parts of the day. It is not how much you trade.. but WHERE & WHEN you trade that matters.
 
Everyone knows that. Its not a matter of knowing but doing. And sizing up to much larger positions is a very difficult thing to do. Especially if you werent successful w/ smaller positions.

I think you are getting way ahead of yourself, you are thinking way too large for your current skill level. Baby steps, my friend, baby steps. Rome wasnt built in a day.


Quote from Ripley:

But, I have identified a way to counteract that by taking bigger positions during the critical parts of the day. It is not how much you trade.. but WHERE & WHEN you trade that matters.
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Assuming that this thread is not a joke, there is a big probability that you will lose the stake again. Title of your your thread says it all.

Rent a movie "Rounders" and take a look what happenned to the guy when he concentrated on $ too much.
 
Quote from RedDuke:


Rent a movie "Rounders" and take a look what happenned to the guy when he concentrated on $ too much.
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You can lie with numbers. Everything has 2 sides to it. Just like most of the trading quotes can be applied just the opposite.

Some say, Diversification is GOOD, but others say Diversification is BAD. Its all how you look at it. Some see 51% full while others see 49% empty. Just like LET WINNERS RUN, and some say, HOW LONG?...

It all matters as to how skilled and experienced you are and doing what you believe in to get things done.
 
now that u got 50k and can go past the pdt are u gonna smarten up and trade stocks or will u stick to futs? i mean u said uself futures are too efficent to be profited from.

wish u well
 
You have 1600 posts as I write this. Maybe yopu should cut down on your ET time and focus more on your trading. Remember.........
FOCUS spelled backwards is SUCOF and if you don't focus that's what you'll be doing to earn a living LOL!

Good Luck to you.
 
Quote from Ripley:

I have come back faster than I thought. But, I won't commence my trading till the beginning of the year.

I have accumulated funds of $50K to take another go at it. Some of it was hard earned, and the other based on my good looks and quick wit. It wasn't free, it is backed on the millions that I am going to take away from the markets.

I have come to the conclusion that the MARKET is FULL OF WEAK HANDS. If a PERSON can take a POSITION based on VALUE, INHERENT VARIANCE, and HANG on tight in the face of ADVERSITY, they can and WILL make a LOADS of money.

I'm battle tested and proven, and I am READY. I decided to up the ante. I am going to compound my own money (NO OPM) for 1,000%+ for the next few years and retire before I am 30.
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the only way your hands won't be weak is if you don't overleverage, decide maximum risk per trade, set wide enough stops before entry, and even better scale in gradually to full size trade level to account for perfect entry issues.

otoh, scalpers face another issue entirely (you need a solid edge to scalp).
 
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