Truth for Beginners

Quote from longhorns24:

Ok so Traderzone I have seen your posts on several other threads and it seems to me that your just a miserable person cause all you do is complain. If you read my post you would realize that is has nothing to do with me as a trader, I am asking a simple question looking for genuine answers not some smart ass washed up trader like you posting no sense. You really just have no clue all you do is go on posts and complain. Lighting up man lifes to short to be so negative and miserable all the time.
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He's only miserable because he is not successful himself. I have asked him many times to post proof of his own trading (as he asks everyone for theirs and puts everyone down). I have yet to see a journal with screenshots, trading blotter or a track record from him. He's a fraud.
 
Quote from jack hershey:

longhorns24,

Please give Don Bright a call. You are interested in prop trading and Don has been a sponsor here for many many years.

You can also review the many exchanges he has has with other ET members. He is a person who can give you very constructive criticism regarding how you may fit into the prop trading approaches.

Certainly most people who join ET want to get up to speed and get on a path to success. Some sponsors have been working with different kinds of beginners for years and years. Don is one of them.

You might also think of killing two birds with one stone, as the saying goes. The TradersExpo is coming up soon and it is in Don's home town. There will be thousands of people there attending presentations of all sorts. It may be that several of the different ways these people go about trading will appeal to you. There is also an exhibit hall where many many people cross paths. Not only do you get to see what is new and cutting edge, you get to listen to others just like you who are asking questions. Anyone's questions could trigger your own thoughts and you might even connect with someone on that basis.

There is another side to the coin, too. Many people you willl meet know what they are talking about and they often can size up a beginner and save the beginner some false starts.

You didn't make a mistake mentioning 200 dollars a day. It is easy to see that the market offers 200 dollars over a very short period of time, even for just one contract or a round lot of a stock.

There is a position sizing thread running. People are discussing how large positions may be with respect to a variety of considerations. Market capacity is one consideration. For me, I can't make 200 dollars in a day. The smallest price change (1 tick) makes way over 200 dollars for me.

You already understand how big 200 dollars is in trading. If someone else can't grasp that, then that person is not going to be very helpful to any beginner for any approach.

I've never done prop trading nor have I attended any of the prop trading boot camps available. Maybe you might want to go to a prop boot camp and shorten up the curve a little. Its a two way street. You size up trading and the prop staff gets a good look at you.

Its good to get the 200 dollars a day performance level behind you.
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Quote from longhorns24:

Jack thanks for the response its very informative. Do you know where Dons trader expo is? Im not to familiar with this event.
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Don does not run the TradersExpo. Don is one of the prop trading gurus and sponsors this forum. See top of page for Don's contact info.

There are three TradersExpos a year. 18 through 21st of NOV in Vegas (Mandalaybay); In FEB it is in NYC and in early Summer it is in the San Diego area.

Check hookup part of ET or Google it. The schedule is posted on the WEB and there are bios of the presenters as well. There is no admission charge but there are some half day sessions that are fee based. A lot of heavy hitters attend, too. There is a panel of "Great Traders You Have Never Heard of" usually and there is live trading by some of these people. Most sessions have Q and A's and that is where you will be able to pick out knowledgeable people in the audiences.

Over a four day period, you will be learning a lot since there are five sessions a day, as I remember.

Check out the ET sponsors. Many of them have booths and several do presentations. Hospitality suites abound and go 24/7. Some outfits like ET also have booths. T shirts and DVD's and CD's galore!!!!
 
Risk management is the essential element more than account size or any other ability or strategy. There are lots of successful traders making tons of money, however rate of success is very, very small i.e. percentage wise in low single digits.
 
Quote from TraderZones:

The main problem is your unrealistic expectations. What kind of business to you expect to be up to a $50,000 level within 2 months ($200 a day) and be unhappy with that?

The first place to start, is that you have no idea what you are getting into. Trading is a profession, not a high paying career for an untrained newbie who is not willing to put in the time, work and dedication.

It is very difficult, very risky, and not the realm of a trader wannabe with a $7,000 account and expects to be retiring soon.

Until you wise up, look in to the mirror to see why 95+% of traders lose their money. There is a reason why so many people try to sell their services instead of trade, because they see newbies like you, and hope to make a fast buck off of them

Retitling this thread from "Truth for Beginners " to "Delusions for the Lemmings"
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I know a lot of people didn't like this post but I am not a newbie but never had any success in trading. I know most people do not like TZ but this post is very truthful.

Enter the trading world with caution and a bankroll that can support you and your trading losses for 2 years. If you can't do that then think about working part time while trading.
 
Quote from longhorns24:

Alright so I have read a lot of posts on this forum and in the end there are no true success stories for beginners. Overall has anyone actually went into a firm with a small capital deposit, went through their training program and now is a successful trader. And I dont mean making 200 bucks a day (although that is ok for the fist couple of months), Im talking truly lucrative.
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You might not have liked it but TZ's reply was right on the money!

"....Trading is a profession, not a high paying career for an untrained newbie who is not willing to put in the time, work and dedication......"

If you're after a 'truly lucrative' fast buck on 'a small capital deposit' then try a casino, the odds are probably better!

"Retitling this thread from "Truth for Beginners " to "Delusions for the Lemmings"", lol, sounds about right to me! :p
 
Quote from longhorns24:

Alright so I have read a lot of posts on this forum and in the end there are no true success stories for beginners. Overall has anyone actually went into a firm with a small capital deposit, went through their training program and now is a successful trader. And I dont mean making 200 bucks a day (although that is ok for the fist couple of months), Im talking truly lucrative.
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longhorns24

Don't let all the losers around here spoil your play.
You can be making $5,000 per day in three to four months, it is not as difficult as these idiots make out.

jjf
 
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