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Trader P/L 2005
- Thread starter Diamondtrim
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Quote from Szeven:
+3.58 today :/
Was down the majority of the day. Started scalping EMC when action started late and pulled in $70 to bring me back to even.
Szeven.. I admire.. your hard work and all.. but I dont see the point in what you are doing.
The problem with trading such small size in the beginning like most prop shops preach.. is that when you actually decide you want to make real money things change. So i think newbies are better off starting out trading real money.. then be lead to be believe to start out real small.
I just cant see myself doing anything where if I make $30 for the day.. I tell myself.. one day I will trade 10x the size and make real money.. it just never happens in real life.
Good traders should trade real money from the beginning.. because I consider what you are doing as paper trading.
Looks like you are a pretty decent intraday trader.. so start trading some real money and see what happens... just get your feet wet and be careful with size.. its better to learn that way... then just continue to churn out $30 a day.
Remember there is opportunity cost in what you are doing.. every day when u make $3 or $25.. you could of made $200 at a real job.. now when you finally start trading real money and things dont go as good as they hoped atleast you will know if you are cut out to trade.... and if things go well you are making a living.
Quote from Trend Fader:
Szeven.. I admire.. your hard work and all.. but I don't see the point in what you are doing.
The problem with trading such small size in the beginning like most prop shops preach.. is that when you actually decide you want to make real money things change. So i think newbies are better off starting out trading real money.. then be lead to be believe to start out real small.
I just cant see myself doing anything where if I make $30 for the day.. I tell myself.. one day I will trade 10x the size and make real money.. it just never happens in real life.
Good traders should trade real money from the beginning.. because I consider what you are doing as paper trading.
Looks like you are a pretty decent intraday trader.. so start trading some real money and see what happens... just get your feet wet and be careful with size.. its better to learn that way... then just continue to churn out $30 a day.
i don't agree. he is doing the right thing by starting small and gradually increasing size as he gets consistently profitable. your goal should be to last long enough to learn the game. for most it takes about a year.
Quote from Trend Fader:
Szeven.. I admire.. your hard work and all.. but I dont see the point in what you are doing.
The problem with trading such small size in the beginning like most prop shops preach.. is that when you actually decide you want to make real money things change. So i think newbies are better off starting out trading real money.. then be lead to be believe to start out real small.
I just cant see myself doing anything where if I make $30 for the day.. I tell myself.. one day I will trade 10x the size and make real money.. it just never happens in real life.
Good traders should trade real money from the beginning.. because I consider what you are doing as paper trading.
Looks like you are a pretty decent intraday trader.. so start trading some real money and see what happens... just get your feet wet and be careful with size.. its better to learn that way... then just continue to churn out $30 a day.
Remember there is opportunity cost in what you are doing.. every day when u make $3 or $25.. you could of made $200 at a real job.. now when you finally start trading real money and things dont go as good as they hoped atleast you will know if you are cut out to trade.... and if things go well you are making a living.
Hey! Don't beat on our favorite underdog on this thread!
He's got consistency that is outstanding. I'd say he's averaging about $100/day when the dust settles. I bet he can and will scale up, in due time. We all started there, and most not as well as Szeven.
Quote from Trend Fader:
Szeven.. I admire.. your hard work and all.. but I dont see the point in what you are doing.
The problem with trading such small size in the beginning like most prop shops preach.. is that when you actually decide you want to make real money things change. So i think newbies are better off starting out trading real money.. then be lead to be believe to start out real small.
I just cant see myself doing anything where if I make $30 for the day.. I tell myself.. one day I will trade 10x the size and make real money.. it just never happens in real life.
Good traders should trade real money from the beginning.. because I consider what you are doing as paper trading.
Looks like you are a pretty decent intraday trader.. so start trading some real money and see what happens... just get your feet wet and be careful with size.. its better to learn that way... then just continue to churn out $30 a day.
Remember there is opportunity cost in what you are doing.. every day when u make $3 or $25.. you could of made $200 at a real job.. now when you finally start trading real money and things dont go as good as they hoped atleast you will know if you are cut out to trade.... and if things go well you are making a living.
You've stated that you don't believe the p&l numbers of mksummy because they are somehow too high for you to accept, and yet you criticize others for not making enough money. That doesn't leave you with alot of room to maneuver.
Quote from vhehn:
i don't agree. he is doing the right thing by starting small and gradually increasing size as he gets consistently profitable. your goal should be to last long enough to learn the game. for most it takes about a year.
I respect that idea.. except when you actually start increasing size things change and its not the same.
Lets say he averages $50 a day for one month.. then he increases size and has one bad day and loses $1,000... where does he stand? Is trading 500 shares really the same as trading 100 shares?
Once real money is on the line things change fast. Either you are made for trading or you are not...
I dont think that someone trading 100 shares will have the same results as if they traded 1000 shares.. its not just a function of increasing size.. its a lot of emotions and mind games that come along.
This why 99% of prop shoppers blow up... they start out small and churn commisions.. believing they are on a learnings curve.. once they think they know something and are sick of making chump change.. they start stepping on the gas and take real trades.. and blow up or decide that they cant handle the job.
Its kinda like riding a bike or swimming.. you can only be on training wheels so long.. once you think you know what you are doing.. you gotta move forward and worst case if you fall you just go back on the training wheels. But you gotta get onto the bike,, otherwise you are wasting time.
Quote from Htrader:
You've stated that you don't believe the p&l numbers of mksummy because they are somehow too high for you to accept, and yet you criticize others for not making enough money. That doesn't leave you with alot of room to maneuver.
I dont belive his numbers because of his attitude and his trading methods dont support such daily results.. like I said.. this guy never had one down day since the forum was started.. and he flipping pennies.
I believe MR. NBBO and the others.. I just think MK is full of it.
Quote from Trend Fader:
I dont belive his numbers because of his attitude and his trading methods dont support such daily results.. like I said.. this guy never had one down day since the forum was started.. and he flipping pennies.
I believe MR. NBBO and the others.. I just think MK is full of it.
Just to point out, MK has only been posting his pnl since mid-May and he has taken a lot of time off. So it's not like he's been profitable everyday for a year.
Quote from okwon:
Just to point out, MK has only been posting his pnl since mid-May and he has taken a lot of time off. So it's not like he's been profitable everyday for a year.
Well its nice how every blotter he posts only has a positive p&l.
Either he makes money every day he trades which is bullshit.. or he only posts his positive days and makes up bullshit how he went swimming or bought a house on the days he loses... which is more likely.
I believe people can make $1mil+ a month trading.. but i dont believe MK is making $3-5k everyday he trades off scalping pennies on LU, and the others...
--MIKE
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