Millionaire in 10 weeks & Conversation with broker | Psychology and Money Management


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Psychology and Money Management


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Millionaire in 10 weeks & Conversation with broker

  #50 (permalink)

Montreal
 
 
Posts: 128 since Jan 2013


DavidHP View Post
I see your theory is from 2014.
I do not wish to create more drama but I have a few questions.

It seems there have been a lot of 10 week periods between 2014 and 2019.
While you were using TS how many 10 week periods resulted in the success of the hypothesis?

If the hypothesis was proven, why not use some of the profits to hire a programmer to create your indicator?

Let's not mix my Money Management Technique with my Trading System shall we? It's 2 different things.

Regarding why nothing happened since 2014? Here's the answer I gave at the end of Part 1...


MerlinWorld View Post
However, there is a 2nd problem and this is the one that will stall everybody include me and this is it...

Tim was able to go to the million $ because he had a "Killer Trading System" that would make him win more $ than he could lose where he was able to use my Money Management and double his ES contracts all the way to the Million $ but...

NOT EVERYONE HAS A SUPER PROFITABLE TRADING SYSTEM LIKE TIM HAD....

Yes, with the M2K futures, if you make 5 pts, you will make a profit of $25 out of an original investment of $25 (M2K Intraday Margin) and make a 100% ROI but what if you LOSE those 5 pts??? That's right, you get a 100% DRAWDOWN.

Sure you got those orange backups at each level you reach but still, you need a good trading system to begin with or you are going NOWHERE.

So since 2014, my quest was to find the best trading system and that was easier said than done. Maybe for you guys here, creating from scratch a trading system that will be making your 5 Pts on a daily basis is a piece of cake but that's not my case here and without that killer trading system to make those 5pts, this means no trading, no doubling of contracts and this means no climb to the million.

Now Tim never posted the code of his trading system that he used to make this Million $ climb in 10 weeks back in 2014 in his performance report.

As to why he didn't even use it to get rich even by locking down the ES contracts to only 18 like he proposed? Go figure! People don't all have the goal of becoming millionaires, maybe it scared him, maybe he didn't even believe his own performance report. Who knows?

So the doubling part (Money Management Technique) that's easy to do ONCE you have a killer trading system which I didn't. At least not good enough to do these doublings.

As to my trading system based on this 2 clouds indicator, I just created it a few weeks ago and I didn't want to jump in head first like I did in 2005 where I lost $22,000. So yeah, I got burned alright, and since then I took my time to get my revenge by coming up with the best trading system I could get my hands on.

At TradeStation you needed $10,000 to open up an account and each Mini Russell 2000 contract was costing $1,600 a piece. If you got burned, that's not the type of money you like to throw in the fire just for the fun of it. So I took my time to gathered the money and slowly took the time a few weeks here and there every year to find and improve any system I saw.

However, now that the Micro Futures account can be opened with only $100 and Micro Russell contracts go for only $25, I have the money for it but still don't have the solid system that will assure me victory. I'm working on it and I'm veeeeeeerrrrryyyy patient kinda like a pitbull who will not leave the sight of his bone.

It's not even ready yet. Even with the help of these 2 clouds indicator, there are still problems to fix but I got time...Good things comes to those who wait right?


Last edited by MerlinWorld; July 29th, 2019 at 02:25 AM.