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Manipulation of others
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Manipulation of others

  #31 (permalink)
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Turveyd View Post
Like to get to 20K then take 10K out and basically keep repeating, move the 10K to 15K, withdraw at 30K and so on and so forth.

That's a good plan. Or withdraw every week.



Turveyd View Post
Ofcourse, going to have to borrow into it if none of my clients pay me end of the month which is looking likely!


How you gonna pay if you mess up? (I wouldn't trade borrowed money)

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  #32 (permalink)
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Yuri57 View Post
That's a good plan. Or withdraw every week.





How you gonna pay if you mess up? (I wouldn't trade borrowed money)



Plan was withdraw back to 20K monthly, so base 20K account, but I do like the idea of having 4 - 5 months cash in my bank account to live off or put back into account if I screw up. ( not there yet, few months to go )

No borrow from my trading account to keep me going!

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  #33 (permalink)
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Omer עומר / Israel י
 
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OK



Yuri57 View Post
Well, just do the math:

How much money you make = win/loss ratio x risk/reward ratio x number of trades x risk per trade.

The first two depend on how good you trade or your system.
The third is a factor of your time-frame (and method).
Risk tolerance is a factor of your account size and maximal drawdown thereshold. Your drawdown probabilites are a factor of your win/loss ratio, risk/reward ratio AND consistency.

Basically the more consistent you are, the more money you can risk until you hit the mathematical cealing.

And as someone else said in an other forum: the 5% who are making money consistently are mostly professionals, with HUGE accounts, meaning the actual number of winning traders are even less

So with the attitude "just get by" it won't be engouh to beat the competition.


10% is not worth working for. You can have passive income with 10% yield.

What is worth for you can be compared to your value of time.

Let's assume you only risk as much for the week as you can earn (with a dayjob). If you double that amount, you had no leverage on your time. If you made more, you are saving time essentially for yourself. Be aware that you leverage your time too much (risk a lot more than you can make in the same amount of time) you put yourself to a lot of stress. This is why it is much better to trade other people's money.

edit: and if you have passive income which is (more than) enough to support your lifestyle; than money can't buy you.

I need to make more than 1.000 US$ per day
for trading to be an alternative to my day job

i don't want to sell trading services
i don't want to createa new idicator
i'm interested to find out if i can make 1.000 US$, preferable 2.000Us$
while beging laser beam focused on day-trading

last week made 200+ ticks with 2 contracts

i worked on a trading plan
and a trading method
i do have funding

i have read a lot, i studied a lot

is it possible
or will i run into the wall ?

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  #34 (permalink)
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rleplae View Post
I need to make more than 1.000 US$ per day
for trading to be an alternative to my day job

i don't want to sell trading services
i don't want to createa new idicator
i'm interested to find out if i can make 1.000 US$, preferable 2.000Us$
while beging laser beam focused on day-trading

last week made 200+ ticks with 2 contracts

i worked on a trading plan
and a trading method
i do have funding

i have read a lot, i studied a lot

is it possible
or will i run into the wall ?

Why so much ?? if your on $260,000 per year then why are you trading at all ??

200+ * $20 = $4000 which is 80% there to your target, it was a WILD week except Wednesday though.

Your run into a wall, it'll be your brokers max lot size, how much you can handle fear wise before falling to peices or the amount of money that's available in the world

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  #35 (permalink)
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Sick of being a prostitute


Turveyd View Post
Why so much ?? if your on $260,000 per year then why are you trading at all ??

200+ * $20 = $4000 which is 80% there to your target, it was a WILD week except Wednesday though.

Your run into a wall, it'll be your brokers max lot size, how much you can handle fear wise before falling to peices or the amount of money that's available in the world

thank you for your answer...

I am sick of being a prostitute
selling my brain and my knowledge to large corporations that do not respect me

Bottom line i'm an entrepreneur
i like to create, i am most efficient in small structures, 1-10 people, 20 max
i'm very open minded in business,
i like to think out of the box

the trading examples is just with 2 contracts
i have a 15.000$ dollar account
i can ramp it up if needed
the rest (i suppose) is arithmetic and multiplication

=+1.000US$/day is my current life style
i don't thing trading is invalid, if you are making money already ???!!!???
where is the logic ?

unless you can prove that i will never get into that equivalent
then i'll better quite today

for me trading is a business
i have been trading since i was 16 (the director of the bank branch needed to authorize my trades
at that time, because it was not 'usual', not sure if it was illegal)

wrote my! first trading software at 17-18
worked at a broker
and at a major bank

have been there, have seen it

i want to trade and make money
generating ideally on average a daily profit of 2.000 US$ per day

bottom line question : possible or not ?

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  #36 (permalink)
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rleplae View Post
thank you for your answer...

I am sick of being a prostitute
selling my brain and my knowledge to large corporations that do not respect me

Bottom line i'm an entrepreneur
i like to create, i am most efficient in small structures, 1-10 people, 20 max
i'm very open minded in business,
i like to think out of the box

the trading examples is just with 2 contracts
i have a 15.000$ dollar account
i can ramp it up if needed
the rest (i suppose) is arithmetic and multiplication

=+1.000US$/day is my current life style
i don't thing trading is invalid, if you are making money already ???!!!???
where is the logic ?

unless you can prove that i will never get into that equivalent
then i'll better quite today

for me trading is a business
i have been trading since i was 16 (the director of the bank branch needed to authorize my trades
at that time, because it was not 'usual', not sure if it was illegal)

wrote my! first trading software at 17-18
worked at a broker
and at a major bank

have been there, have seen it

i want to trade and make money
generating ideally on average a daily profit of 2.000 US$ per day

bottom line question : possible or not ?


If all / most of the above it true, they why are you doubting yourself and after people to boost your confidence ??


If all / most of the above is true, then not only possible which it ofcourse is, but highly plausible in a short period of time for you.

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  #37 (permalink)
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confidence


Turveyd View Post
If all / most of the above it true, they why are you doubting yourself and after people to boost your confidence ??


If all / most of the above is true, then not only possible which it ofcourse is, but highly plausible in a short period of time for you.

Hello Turveyd,

I appreciate your reaction.

what i can make in selling consultancy, i know, and i 'm confident

what i can make in trading is ups and downs, the potential i don"t know, that is the 1M$ question
i went into trading full-speed
while all literature says : "prove yourself you are profitable, and then trade real money'
i thought myself smarter, doing real money immediately,
unlikely to other traders i did not blow up my account
my buddy did, but he didn't tell me (i noticed, i have access to his account, very sad !)

so i went back to the sim
i read a lot and studied a lot
i took many advice from knowledgeable people:

@Big Mike : don't change your settings all the time, one change every 2 weeks
@bobwest : for advising me on certain issues, like posting , in order to boast my confidence
@masood : for showing every day trades and explaining why
@JDNeeman : for sharing a great method
@fattails : for great indicators and his patience
@TheWizard : for great indicators and showing setups

sorry i forget to give credit to certain people

when i will be a consistent profitable trader, i will try to be transparent and instructive to others
trying to master and teach trading

i will give back to the community
my goal for my income are MY trades on MY accounts
my plan is not tools and not teaching

then i better stick to the shit i know already
being payment systems,
and i'm good at it ! trust me

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  #38 (permalink)
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Turveyd View Post
amount of money that's available in the world

You mean what the Rothschilds have left?

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  #39 (permalink)
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rleplae View Post
=+1.000US$/day is my current life style
i don't thing trading is invalid, if you are making money already ???!!!???
where is the logic ?

The logic is: certainty (well paying job) is better than uncertainty (inconsistent trading).

Regarding if it is possible to make 1k/day consistently... do some research how much professinals make.

Aaand you would have the answer if you not only have studied how others trade but also have your own, detailed trading plan and statistics.

------

To have consistency: you must play high probability trades and you must know what is high probability in the first place by testing your method.

And also focus on not having much downside.

Example:

Let's assume your daily loss limit is 1000.

You blow it ONCE per week, scratch 0 2 days and have 2 winning days. If you want to make 1k/day on average your winning days would have to be (-1000+0+0+2xa=5x1000) 3000 / day.

On the other hand let's assume you would make 4-600 every day and no losing days. How difficult would it be to leverage yourself up to 1:2 or even 1:10 .... (not much).


Last edited by Yuri57; July 27th, 2014 at 06:19 PM.
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