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i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky
KILLING THE MARKETS DAILY
The following 23 users say Thank You to sharky for this post:
rassi i dont have any systems everything i post is to teach people what to look at and to train their minds on how to see price action easier,to let them pratice stuff on sim over and over again until a light goes off and they say oh thats what he means,i look at charts 15-20 hrs per day for about 5 years and paid thousands and thousands for my school and mentored under real traders its not easy or cheap to trade i sacerficed relationships and lost friends,its a long hard lonley road and you have to decide how bad do i really want this and is there a eaiser way to make a buck...sharky
KILLING THE MARKETS DAILY
The following 43 users say Thank You to sharky for this post:
I find this thread very depressing because it almost feels like a reality check in some ways. In other words, what the heck am I thinking that I can beat the percentages?
1. not my primary income. Have never made anything that I kept.
2. Have never made $100K or even $100 at the end of a years time.
3. 6 years time, some of it part time and some full time. I can't say I've looked at charts for 15-20 hrs a day like Sharky, but I know I've spent many more hours doing so than I though I ever would.
Question: I've read the phrase "under capitalized" many times and have heard the term many times. What account size is considered to not be under capitalized?
D
The following 2 users say Thank You to David_R for this post:
It will depend on your trading style (scalper/intraday/swing). I'm actually briefly going over that in tomorrows webinar about trading MTF's w/trend.
But the general rule of thumb is you cannot risk more than 2% per trade. On CL, 20 ticks is $200 stop. If your trading style allows you to risk less than 20 ticks and be profitable, then your minimum account size would need to be $20,000 to trade 2 contracts on CL. And this is really an amount that is needed once you are well educated, it is not a "tuition" amount which is likely substantially higher.
Mike
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The following 7 users say Thank You to Big Mike for this post:
I have to say that I've always thought your posts and style were pretty sound. Your method is complex for my personal tastes, but when compared with the majority of others, I would say your method makes more sense to me than most.
I know you've had a very hard time. I don't think it is due to your understanding of the market or your method. I think it is all psychological, and because of the position you are in and your environment and surroundings in life, it is very difficult to break through and overcome this challenges. Trading is hard enough without all the added complications that can make it even harder.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 15 users say Thank You to Big Mike for this post:
