What does FRV, DU, and Tuc stand for?
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Trading fulltime retail with $50k
- Thread starter wiesman02
- Start date
Quote from jones247:
Jack Hershey,
I appreciate the time and effort you've put into explaining your perspective on trading. However, the attachment really did not help. Do you have actual examples of trades taken, with the set-ups and exits for the actual trades?
Certainly. I referred to "Putting the Pieces Together" it is a transcript of an IBD Meetup which was camtasia'ed. Later in October the transcript was modified to include a hole day's trading by adding a narrative and pics of the screen display. Prior to the day the trades were planned. A hand written sheet was scanned as an illustration. How the sheet was modified during the day in hand writing was also scanned.
The 77 pages including many many illustrations snaged as the day proceded are there for you. The zip is 2.38megs and after two tries to post it as a zip I found that it would not attach. sending it by email is a possibility.
Thus, when you get it you will "have actual examples of trades taken, with the set-ups and exits for the actual trades".
The trades, as shown in the text, are bolded for emphasis.
Can anyone else explain what Jack Hershey is trying to convey... Anyone?
Either Jack is a bona fide Genius or he's starting to suffer from dementia.
Your characterization of me as a consequence of reading what I posted to support your situation is not too swift. I do test as well as can be expected. I place no blame on tests. It is just unfortunately that some of the time the tests do not have the scope to place me in the range of what is being tested.
Thoughout my life it has occured to others to perform tests on me for specific reasons. For most areas of testing, I do not fit into a normal place on the various distributions if the distributions have been established.
I am very satisfied with my condition and the efforts I make to maintain it. I do not care if you checked off the paragraphs or not; nor do I care if you figure out what I am saying and get to be rich. That is simply your choice just as it is for everyone else.
However, I am interested in how you behave from this point on. And I am interested in if someone steps up to help you out.
Help... anyone...
who does not want financial freedom without doing a regular job..
Quote from Sulu268:
Don't bother trying to figure it out -- Somebody on another post wrote that Hershey is just a scammer.
You will note that guy you refer to took about 33 minutes to post that he didn't get it.
So you get to see "the filter" at work. Both of you are going to stay just about where you are by your choices.
That's life.
Quote from Cocaine:
Dont listen to those that say "get a job and trade on the side" if your real passion is trading. If you want something bad enough,you will find ways to make it work (ala living at home with the "rents" for a while to save $$$). Everyone, myself included, had to learn the game over many many days/weeks/months etc. Knowing this, you should be prepared for a long journey. But one of great learning and eventual understanding. I dont make that much trading compared to some, but I have been between 112k-174k every year since 2001. Plus I get to be home with my wife and have much more freedom to do what I please.
Fortunately you are young and with few responsibilites, you are an ideal candidate for giving it a go.
From someone who did it all of the ways, I will tell you, that the period where i had no extra job and just traded, was the best period of my life.
Early this year I had the opportunity to do some lucrative consulting work for a firm. I took the work initially and my trading suffered. It took me 3 weeks to realize that the 6 or so trading hours (I trade us equities) in the day are enough work.
I need time to reflect on my trades, relax, sleep, get exercise, play tennis, be with my family and friends.
Having a full life and a happy feeling (inner happines) is really my fuel for success. The money will come, obiviously you need to ask for the amount you want. But then let that go and just trade. If you have 50k, don't lose more than 250.00 on any one day. I promise if you stick to that, you will start spending less time worrying about loss.
The upside of that is that your energy will be focused and ready to trade big on days that you have a lot of advantage..and, myfriend, that is where you make your money as a trader.
With 50K, don't lose more than $250 on any single day. That is your goal, and I bet you will not be able to do it perfectly, but that is your goal. You can have a great happy life when you follow this rule, and all of the learning about making money will then have a chance to materialze in your life.
By the way, regarding your expenses, there are plenty of ways to make that work. Just focus on what you really want, and if you love to trade, it will work out.
Accept the help of all of those who offer, and be willing to receive it.
I did things like that, and that made the difference in my career.
Quote from Sulu268:
Don't bother trying to figure it out -- Somebody on another post wrote that Hershey is just a scammer.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=38777
Quote from jones247:
Can anyone else explain what Jack Hershey is trying to convey... Anyone?
Help... anyone...
For some reason, people have been try to decipher what Jack Hershey is trying to say for a full millenium.
If you don't have the big 64 Box of Crayolas with the built in sharpener in the back and lots of white paper to scribble on you will also never know.
Quote from Cocaine:
Dont listen to those that say "get a job and trade on the side" if your real passion is trading. If you want something bad enough,you will find ways to make it work (ala living at home with the "rents" for a while to save $$$). Everyone, myself included, had to learn the game over many many days/weeks/months etc. Knowing this, you should be prepared for a long journey. But one of great learning and eventual understanding. I dont make that much trading compared to some, but I have been between 112k-174k every year since 2001. Plus I get to be home with my wife and have much more freedom to do what I please.
Fortunately you are young and with few responsibilites, you are an ideal candidate for giving it a go.
From someone who did it all of the ways, I will tell you, that the period where i had no extra job and just traded, was the best period of my life.
Early this year I had the opportunity to do some lucrative consulting work for a firm. I took the work initially and my trading suffered. It took me 3 weeks to realize that the 6 or so trading hours (I trade us equities) in the day are enough work.
I need time to reflect on my trades, relax, sleep, get exercise, play tennis, be with my family and friends.
Having a full life and a happy feeling (inner happines) is really my fuel for success. The money will come, obiviously you need to ask for the amount you want. But then let that go and just trade. If you have 50k, don't lose more than 250.00 on any one day. I promise if you stick to that, you will start spending less time worrying about loss.
The upside of that is that your energy will be focused and ready to trade big on days that you have a lot of advantage..and, myfriend, that is where you make your money as a trader.
With 50K, don't lose more than $250 on any single day. That is your goal, and I bet you will not be able to do it perfectly, but that is your goal. You can have a great happy life when you follow this rule, and all of the learning about making money will then have a chance to materialze in your life.
By the way, regarding your expenses, there are plenty of ways to make that work. Just focus on what you really want, and if you love to trade, it will work out.
Accept the help of all of those who offer, and be willing to receive it.
I did things like that, and that made the difference in my career.