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Dream Maker - From nothing to 100% pure day trading living
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Dream Maker - From nothing to 100% pure day trading living

  #21 (permalink)
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fminus View Post
I need you to define what "nothing" is and "something" is from the phrase, "from nothing to something".

From Something to Nothing - I defined as the prerequisite starting with under 100k, starting day trading fulltime and being successful enough to make a living from it.

https://futures.io/trading-journals/19284-weekly-option-trader-15.html#post235887

Congratulations on your trading success then!

Not asking for your bank statements or necessarily brokerage.. or anything really. In the online trading community you have guys saying they've done it. In rare instances you will see a ninjatrader performance long or something. I think most inspirational is something like this that truly shows a trade by trade account of someone being profitable (if the chart goes up):

https://futures.io/trading-journals/25166-starting-all-over-finding-my-trading-niche-9.html#post319822

It is a phenomenon in the online trading world that a lot of us are chasing the coin of profits, and the personal success of being a consistently profitable trader, and able to do it for a living with nothing but the vast resources on the net and some books - but there really doesn't seem to be a footprint of someone who started with nothing and now makes a successful living from their trading. Probably because prop shops don't allow traders to surf the internet during trading hours because they surely have traders like this all the time. Journals are nice and allow the learning trader to see other learning traders are going through the same thing. I have not read ALL the journals so I could be wrong. I would think that something of that sorts would be as famous as the Paul Rotter interviews, or one of the Market Wizards. Or perhaps it is that even with a year of success behind the successful trader, the nature of the business has them not celebrating just yet.

Some good links and references people have shared thank you. Some of the Market Wizards definitely did it. Seems a different world pre internet trading. Hopefully we'll read that dream story some time soon.

The leap into freedom is the exchanging of risk for reward. This can be done only by shifting from tension to ease, and that can be done only when one perceives the reward and not the risk. That you won't win all the time has nothing to do with it - that's life, that's the [stock] market. The trying itself is freeing. And being free has its own reward - Justin Mamis, The Nature of Risk
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  #22 (permalink)
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xiaosi View Post
I sent you the information on Trembling Hand Trader....the Australian SPI trader who taught himself to scalp the SPI when it was liquid enough, he's now trading for Propex in Melbourne and would have to be one of the largest HSI traders in Australia.

Still trades from home, still pretty humble too.

XS


This guy is the real deal. Not sure if its in his blog or in an email years ago to me. But he might have started out as a gypsy .. to BSD.

tremblinghandtrader.typepad.com

Thanks mate.

The leap into freedom is the exchanging of risk for reward. This can be done only by shifting from tension to ease, and that can be done only when one perceives the reward and not the risk. That you won't win all the time has nothing to do with it - that's life, that's the [stock] market. The trying itself is freeing. And being free has its own reward - Justin Mamis, The Nature of Risk
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  #23 (permalink)
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Thanks!


Thanks @grahamg for starting this stimulating discussion.

This is a refreshing thread!

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  #24 (permalink)
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grahamg View Post
...Something to Nothing - I defined as the prerequisite starting with under 100k, starting day trading and being successful enough to make a living from it. I am guessing a lot of the dreamers are in this position. Noone in the online trading community have left a footprint suggesting they've done it.

Taking "online trading community" down to the bits of futures.io (formerly BMT) here I think there are many journals, webinars, AMA speakers,
combine travellers etc. that show openly their work with progress and obstacles. You only need to read the lines carefully.
Being a constant (over time) successful trader is written in many threads - the proof of it may be private.
Every long distance journey begins with the first step - so it is not important in the end from which account value you
are starting. Even that around 100K account you mention had to be "earned" somewhen before trading started!

Happy weekend
GFIs1

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  #25 (permalink)
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grahamg View Post
OK - this topic hasn't been approached from this angle so give it a chance.

Threads have discussed "Is it possible?", "Should you give up?", "95/5" - all stuff that those very folks wanting to make it against these odds, will read plenty about.

Can Anyone Make A Living Day Trading - Maybe
Are the odds 95/5? - If you're lucky
Should You Give Up? - More than likely
10000 Hours - Or a lifetime

I get it! You get it! I reckon by far most of us asking these questions to the internet forum trading gurus would still, against all advice, be going ahead, trying to make a living from day trading under-capitalized, under-supported, and under-skilled right?

My question then is - is there any model day trader out there that has made it, from nothing to something? If you have, or have a reputable account of someone who has then please lets hear it!! All this reading about how the trading world is against you wears one down. I have stared into the DOM 5 hours a day every day this year, still aren't making any money, and still hopeful as ever that I'll come out the other side soon enough, scalping hundred lots a few hours a day from my yacht, island hopping in the Whitsundays.

99% of fulltime retail self-supported day traders I am guessing are that way by circumstance. Probably started with loads of $$$, or knew someone in real life that could show them how, or found a way to support themselves by the trading industry etc, and are providing advice from that perspective. Probably most of those that claim they 'made it' would crumble if they had to pay their rent out of their trading account. The other conundrum is that even if someone says they've made it, all you have is some text on an internet forum from those who say, who never seem to be willing to show it. Not having a dig here, just how it is. I would love to see someones cumulative profit chart and maybe a brokerage statement once in a while showing mega coin banking.

So at risk of turning into more of a rant, just after some motivating material here for the troops, if anyone's got the goods.

Thank you.


PS Please feel free to post the usual reality shaking comments. I like the idea that we get what we focus on though - so why not focus on the dream and not the obstacles for a change?

I certainly would like to read answers to your question too, but I can't help but feel that from a position like you have...well, why would you really bother? Are you bored? Do you just want to make some more money?

I'm not trying to be snarky. Everybody wants more money. Especially me. But trading from a yacht a few hours a day (even 5) just doesn't seem to add up to sufficient impetus. If you know what I mean.


Last edited by Coast; April 27th, 2013 at 03:02 PM.
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  #26 (permalink)
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Coast View Post
I certainly would like to read answers to your question too, but I can't help but feel that from a position like you have...well, why would you really bother? Are you bored? Do you just want to make some more money?

I'm not trying to be snarky. Everybody wants more money. Especially me. But trading from a yacht a few hours a day (even 5) just doesn't seem to add up to sufficient impetus. If you know what I mean.

Don't know what you mean.

That was more a figure of speech. The goal is completely self sufficient day trader built up from trading ones own account from ground up.

What would motivate you? I was suggesting someone's account of their experience trading from the ground up, or of someone they knew. Like reading an inspiring story of someone who has been there and done it. More relevantly, during this time of Internet trading chat rooms and online forums, trading education marketing, and discount brokerages.

A very select few have done it with external support.. Like top step for instance.. I am assuming. Maybe one of these days we will conclude that it's not possible without a) much much money b) trading mentor. c) a big pair of..

The leap into freedom is the exchanging of risk for reward. This can be done only by shifting from tension to ease, and that can be done only when one perceives the reward and not the risk. That you won't win all the time has nothing to do with it - that's life, that's the [stock] market. The trying itself is freeing. And being free has its own reward - Justin Mamis, The Nature of Risk
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  #27 (permalink)
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DionysusToast View Post
.. The bulk of that $18m was made when he got some information via his job in a bank and he borrowed as much money as possible and sunk it into the opportunity. I am not sure that was entirely legal.

..

no I am pretty sure that it's not legal. I heard a story about a guy doing the same thing. After he collected his wins he moved to other state, afraid to pick up the phone worrying it's from SEC or IRS..

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grahamg View Post
Don't know what you mean.

Well, it's just that from my point of view you're already doing what I would want to do after I make some money in the market.

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  #29 (permalink)
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I think there are a few old threads on futures.io (formerly BMT) asking for "proof". A few come to mind. Loriley's very generous inspiring show of proof. And the famous Bobby threads. My, how time flies..

https://futures.io/psychology-money-management/3649-primary-source-income-how-many-have-made-30.html#post138382

https://futures.io/vendors-product-reviews/9298-ten-thousand-education-finally-paying-off-20.html#post138394


https://futures.io/vendors-product-reviews/6724-uncle-mikes.html#post84827
https://futures.io/forex-currency-trading/10920-my-6e-euro-eur-usd-futures-contract-trading-strategy-110.html#post147700
https://futures.io/vendors-product-reviews/7424-ten-thousand-education-still-not-profitable.html#post85237
https://futures.io/traders-hideout/6202-heres-proof-5-lie-20-profitable.html


Last edited by Cloudy; April 28th, 2013 at 05:11 AM.
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Cloudy View Post
I think there are a few old threads on futures.io (formerly BMT) asking for "proof". A few come to mind. Loriley's very generous inspiring show of proof. And the famous Bobby threads. My, how time flies..

https://futures.io/psychology-money-management/3649-primary-source-income-how-many-have-made-30.html#post138382

https://futures.io/vendors-product-reviews/9298-ten-thousand-education-finally-paying-off-20.html#post138394


https://futures.io/vendors-product-reviews/6724-uncle-mikes.html#post84827
https://futures.io/forex-currency-trading/10920-my-6e-euro-eur-usd-futures-contract-trading-strategy-110.html#post147700
https://futures.io/vendors-product-reviews/7424-ten-thousand-education-still-not-profitable.html#post85237
https://futures.io/traders-hideout/6202-heres-proof-5-lie-20-profitable.html

YES!! Now we re talking. Thanks @Cloudy. So much to sift through that it needed to be pointed out. The other obvious point is that it is such an elite accomplishment to turn your dimes into thousands and do it consistently... this sort of person is less likely reading trading forums in their spare time looking for ideas or support. They are just doing it!!! Lol not blogging about it.

The leap into freedom is the exchanging of risk for reward. This can be done only by shifting from tension to ease, and that can be done only when one perceives the reward and not the risk. That you won't win all the time has nothing to do with it - that's life, that's the [stock] market. The trying itself is freeing. And being free has its own reward - Justin Mamis, The Nature of Risk
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