Traders make money, but here is how some traders make serious money

F

FutTrd

Well here is the thing.

I day trade, and for example today I made a killing, I guess lots of people did.

But here is where I am different from other people. You see I knew on Sunday what would happen on Monday, I bought shitload of cars way before futures even started moving up at night.

Don’t waste time asking how I knew, this is NOT what this thread is about.
It has to do with connecting dots on Taiwan etc.

This thread is about doing it the way Livermore did.

When I get a really good reason to do something, odds are on my side, I should bet HALF of entire portfolio.

That ladies and gentlemen is how serious money is made, I am not talking 100 % per year. I am talking 500% per year. This is not gambling, there comes a time in experienced traders life when he knows where market will go with 95% certainty.

I guess it depends how hungry you are. If you are old guy who got into trading at age of 40 or 50 and just want to get some extra money for gas, then so be it, trade small always.

But if you are young and hungry and happen to be smart enough to trade successfully.
Such a person should not limit himself to always small steps.
 
congrats! there is some truth to what you are saying. similar to what soros is know for--go for the throat mentality.

as long as you are keeping risk down i don't see why this type of strat is wrong. but keep in mind, today you know, what off the morrow?

--RS
 
Quote from robertstone:

congrats! there is some truth to what you are saying. similar to what soros is know for--go for the throat mentality.

as long as you are keeping risk down i don't see why this type of strat is wrong. but keep in mind, today you know, what off the morrow?

--RS
More...

for example robert, I am now shorting NQ
but only with very little

because I just don't know what will happen tomorrow
 
Quote from FutTrd:


But if you are young and hungry and happen to be smart enough to trade successfully.
Such a person should not limit himself to always small steps.
More...

I guess this explains why blowouts in futures are much more common than in equities. Reverse for the consistency.
 
Every now and then, the market gives you that opportunity to make a killing, and when it does, you have call your shot and swing for the fences.

However, it takes quite a bit of work, research, experience, etc to know when that is. It also helps if you are playing with the houses money.
 
hydro, some people on ET are ashamed to say they ever blew up

I am proud to say, I blew up 2 times until I learned to trade

I blew up one 10 k account and another 5 k account

some had a mentor, not me, I had to learn the hard way.
 
if am confident about a trade i commit the whole of my acct to it and upset i got no enough to push it even further...unfortunately as of late i lost much of my confidence due to small ranges and limitin' myself to smaller trades...today i've raised the stake a bit once again with 1500 shares but still a long way to go...today's session was what i like..many opportunities and plenty of imbalances..txu was such fun to trade..behaved the same as hsi: u could have bot 10-20c oustide mkt and close immediately at mkt for a gain...many times over; those cpus can be fun to compete against..they got no choice at times but to buy terrible prices and u can take advantage of it.
 
Even with 95% certainty, betting half the entire portfolio is going to put you in the poor house sooner or later..
 
Quote from FutTrd:

When I get a really good reason to do something, odds are on my side, I should bet HALF of entire portfolio.
More...

Perhaps you should bet double , triple, ... LOL. :D
 
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