Trading the ES live-the Brooks way
- Thread starter padutrader
- Start date
That question has not been answered. Where are the fucking trades? This is a trading journal, yes?
Hilarious. I can't stop laughing.
Padu has become The Ringmaster, The Matador!
yes that is an improvemnent from THE cocksucker
from monday yes but probably only swing trades
what on earth is that.
can you please speak english for a change?
thanks for the advice
yes 49 usd only
i cant trade US markets even if i have 1oooooooooooooooooooooo million. no Indian can
It seems you’re right.
Well, in that case, you really have to make a difficult decision: find a way to work around this somehow through someone else (e.g. set up an account in the US in the name of someone who doesn’t fall under those restrictions) or focus on what you can trade in India. I’ve met enough Indians who trade, they’re smart and very hardworking people. Somehow they got around this.
TopStep is NOT the answer for you in any case. Unless you like playing the lottery.
I don’t know how liquid the Indian markets are and what the possibilities are there, but if you’re in such a bind that it’s ES/MES or bust, and you have no money anyway, you’re screwed. There is no other way to see it.
If you’re screwed and you’re still pursuing this, it’d be like pursuing a professional basketball career at the age of 40. You may play a good game of ball, be still very strong and in good health, but nobody’s doing to take you on so you may as well forget it. You can play with friends like many people do, it’s fun and good for your body and mind. But you’re not getting a contract.
Frankly though, I don’t think your goal is entirely unreachable if you simply found a way around your dilemma (trading Indian markets or finding a legal way to get around your problem). If you’re placing all your eggs in TopStep, it’s just an exercise in frustration. All good entrepreneurs find ways around problems, and yes, that might mean involving someone else.
But if you involve someone else, you should show them you are diligent and serious. I certainly wouldn’t invest in a person who refused to backtest and traded by the seat of his pants.
By the way, I also encountered a difficulty when I was starting in that I was hoping to land at a hedge fund or prop trading firm like First New York. Unfortunately I got into the game too late age wise, I didn’t have the school pedigree or quant background that recruiters wanted. Hence I never got a chance to sit next to a professional trader and learn while getting paid for it, or even for free.
It wasn’t for lack of trying either. I networked hard, interviewed at two firms but it didn’t get me in. I never found anyone willing to take me under their wing, even though some people were kind enough to talk to me and give me encouragement.
After a while I understood I was going to have to do this myself and I was not someone with a lot of money, I didn’t have enough for a pattern day trader account and at that time there were no micro contracts. I remember right around then I got into Al Brooks.
I struggled and struggled, and it took me years to get off the ground. Not Malcolm Gladwell’s five years, but considerably longer.
My attitude was definitely a huge part of the problem. It’s not that I didn’t work hard, but I refused to back-test and do what Volman said, look at “hundreds if not thousands of charts”. I just kept thinking why don’t any of the strategies seem to work, and it was because I was like you: all over the place.
More than one trader told me: find one idea and build around that. I refused to understand this, because 1) good setups never appear often enough and 2) I didn’t really know what to look for. So I would trade for a while, then give up, then come back, then give up for longer, etc. Then I finally said ‘either sh&t or get off the pot’. I got serious about this and put my nose to the grind stone. No, I didn’t start making money for a while still. But I was reading the right stuff (Linda Raschke), I stopped being cheap (if I had to spend money for a platform to access years of data, I did), and I was doing my homework. Even though I was losing at that time I understood that I was approaching things more intelligently and I simply had to focus on continually improving.
That’s really the way this works. If you are not focused, if you’re undercapitalized, if you’re setting yourself up for failure by wanting to trade markets you can’t handle, if you have very big gaps in your trading, etc. you’re going to fail. It won’t work no matter how long you keep trying.
It’s up to you to use your head and not be stuck in a dream.
It wasn’t for lack of trying either. I networked hard, interviewed at two firms but it didn’t get me in. I never found anyone willing to take me under their wing, even though some people were kind enough to talk to me and give me encouragement.
After a while I understood I was going to have to do this myself and I was not someone with a lot of money, I didn’t have enough for a pattern day trader account and at that time there were no micro contracts. I remember right around then I got into Al Brooks.
I struggled and struggled, and it took me years to get off the ground. Not Malcolm Gladwell’s five years, but considerably longer.
My attitude was definitely a huge part of the problem. It’s not that I didn’t work hard, but I refused to back-test and do what Volman said, look at “hundreds if not thousands of charts”. I just kept thinking why don’t any of the strategies seem to work, and it was because I was like you: all over the place.
More than one trader told me: find one idea and build around that. I refused to understand this, because 1) good setups never appear often enough and 2) I didn’t really know what to look for. So I would trade for a while, then give up, then come back, then give up for longer, etc. Then I finally said ‘either sh&t or get off the pot’. I got serious about this and put my nose to the grind stone. No, I didn’t start making money for a while still. But I was reading the right stuff (Linda Raschke), I stopped being cheap (if I had to spend money for a platform to access years of data, I did), and I was doing my homework. Even though I was losing at that time I understood that I was approaching things more intelligently and I simply had to focus on continually improving.
That’s really the way this works. If you are not focused, if you’re undercapitalized, if you’re setting yourself up for failure by wanting to trade markets you can’t handle, if you have very big gaps in your trading, etc. you’re going to fail. It won’t work no matter how long you keep trying.
It’s up to you to use your head and not be stuck in a dream.
.
Thought I remembered this quote a bit differently so I checked.
“There are a million ways to make money in the markets. The irony is that they are all very difficult to find.” – Jack D. Schwager
Source:
https://www.brilliantread.com/35-best-jack-d-schwager-quotes-on-life-and-trading/#:~:text=“Traders focus almost entirely on where to enter,that they are all very difficult to find.”