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EZ Color Trading - Article - wgreenie

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Oslo, Norway
Trading Experience: Advanced
Platform: CQG, Excel
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Lornz's Avatar
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aquarian1 View Post

How do you know it doesn't work it you haven't been a paid subscriber and given it a fair shot?

For example, Trade the Markets has a system and clients (as do other companies). Many people can benefit from others far in advance of their monthly fee $80, 150, $300. Whatever. They can shorten their learning curve and avoid beginner's mistakes.

Not everyone has the time and inclination to wade through forums, and books etc. Perhaps it is better that they start with someone who has.

As to the millionaires from trading if you tell me how much 35 profit points (on ES) a week starting with $10,000 initial cash, trading with contracts trading increasing each week on Monday, and
contracts traded= (cash *2/3 ) /contract margin
(the ES is $2,500 for initial margin day session),
then perhaps we talk discuss your speculation a little further.

You're right, I can't be certain. Her systems do not inspire confidence, though. They can't be too profitable, otherwise she wouldn't be selling them. I'm amazed at how few people get this. Only one profitable setup will make one a millionaire, as long as one is trading a liquid instrument. There is no way around it. The exception would be discretionary trading, where things get a little more fuzzy. The problem is that trading isn't all about psychology, it's about finding a valid approach. They don't grow on trees, and usually take a lot of effort to devise.

I treat trading as a business. If one doesn't have "the time and inclination to wade through forums, and books etc.", I would suggest they don't have the mindset required to become successful. However, it's more about strategic thinking than reading, but one needs a little theoretical knowledge in order to do that. I chose not to go to university after high school, but I made it a priority to go through most of the material on my own. I wanted to see the world as a finance graduate does, but I had no illusions of that making me money. Therefore I devoted most of my time to the latter. I assumed I would make as much money as the graduates would have incurred in student loans, and it turns out I was right. Now that I feel I have my trading under control, I have gone back to school to get a degree in mathematical finance. I study during the day, and trade at night.

I actually subscribed to TTMs video newsletters when I first started out. I liked Mr Carter's top-down summary of the trading day. They actually touch upon some useful subjects, at least at the time, such as tape reading, market internals and multiple time frames. There are some good ideas in his book, but he must not realize it himself. However, they make over $2MM/year on the site, so obviously they are more focused on that. I have no idea of what they are up to now, I used them briefly 5-6 years ago. I did pick up a few things that I researched further on my own, and I thank them for that. But unlike most, that helplessly search for what to do, I am more focused on how they (educators/commentators/etc) are wrong and how I can do it better.

You don't mention the expected drawdown of the system, so it's hard to have an opinion. Personally, I prefer to use $5000 (or more) per ES contract, but I was more aggressive when I first started.
If one is consistently pulling in 35 points on the ES a week, then one should be making seven figures by year two.

Last edited by Lornz; December 17th, 2011 at 06:36 AM.
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