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Getting Started Trading with 1,000.00 Using Ninja Trader
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Getting Started Trading with 1,000.00 Using Ninja Trader

  #81 (permalink)
Banned: Vendor self-promotion
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mattz View Post
There are thousands of threads that address the difficulty of trading, psychology, programming and other people who were honest about how they lost and made it. Yet, after all this someone says he wants to take "conservative trades"...

Maybe everyone has to go through pain to learn. I am not sure they really here to listen, rather be encouraged.

Matt

Given the turnover, it's not surprising that the same topics come up again and again and again. The only real difference between now and twenty years ago is the interest in forex, and given the characteristics of the population of beginning traders, this is not a surprise. And given that new traders are generally not prone to reading, much less study, it is neither a surprise that they don't bother to read old threads, nor even the beginning posts in current threads, nor even the posts prior to the ones to which they're responding, which is why they so often don't even know what the thread is about.

One can't expect his responses to these questions to register. They are more a form of entertainment. But there's always the possibility that something one says just might prompt the neophyte to begin to take this at least a bit more seriously.

Study and practice are the two things farthest removed from the minds of the majority.

-- Richard D. Wyckoff

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  #82 (permalink)
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Psychology and Strategy

[QUOTEYou're basically going to be scalping for $50 gross profits until you get your balance up to something reasonable.][/QUOTE]
This is very close to my strategy precisely! It may take me a a while to grow account to a sizable amount of working capital. Gains will be small/losses will be small.

The 1000.00 invested is not bread off my kids table, its cash I can afford to lose. If gone quickly, will cut my losses and move on. Very confident I have the discipline to make it last.

Simple Math (I used a calculator online)
1000.00 invested 10% Return monthly, in 18 months= 5559.52 and 24 months=9849.73
No bank has this kinda ROI.

Since we like to make funnies, let me make you guys laugh. Could spend 20 hours per week working a part time brainless JOB for 12.00 per hour. In 24 Months I would earn 23,040.00 with nothing invested. That is double the above numbers!!!

My choice is to learn a new skill that has potential for an early retirement. Willing to put in the time and efforts it takes. Lets face it there is no easy money out there. You have to WORK and earn it!

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  #83 (permalink)
Every Day I'm a n00b
San Tan Valley, AZ/USA
 
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I appreciate what you are saying, but the issue isn't in a monthly return.

The issue lies in position sizing and money management. If you will trade micro lots in forex, then your funding is minimally adequate. If you're looking at anything else, then you are at risk.

That's all

Happy trading!

Sent from my hltetmo using Tapatalk

-Jimmy
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  #84 (permalink)
Elite Member
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1800lund View Post
[QUOTEYou're basically going to be scalping for $50 gross profits until you get your balance up to something reasonable.
This is very close to my strategy precisely! It may take me a a while to grow account to a sizable amount of working capital. Gains will be small/losses will be small.

The 1000.00 invested is not bread off my kids table, its cash I can afford to lose. If gone quickly, will cut my losses and move on. Very confident I have the discipline to make it last.

Simple Math (I used a calculator online)
1000.00 invested 10% Return monthly, in 18 months= 5559.52 and 24 months=9849.73
No bank has this kinda ROI.

Since we like to make funnies, let me make you guys laugh. Could spend 20 hours per week working a part time brainless JOB for 12.00 per hour. In 24 Months I would earn 23,040.00 with nothing invested. That is double the above numbers!!!

My choice is to learn a new skill that has potential for an early retirement. Willing to put in the time and efforts it takes. Lets face it there is no easy money out there. You have to WORK and earn it!

Do you think a novice can make 10% monthly return? This is where you are missing one of the biggest points. You are confusing trading and investing. Investing would be like @Big Mike and myself said and buy some ETF or stock and hold. Trading is actively trying to manage your money.

Would you allow a 16 yr old with his learners permit to drive your rig down the highway?

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  #85 (permalink)
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This should be interesting....

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  #86 (permalink)
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FABRICATORX View Post
I appreciate what you are saying, but the issue isn't in a monthly return.

The issue lies in position sizing and money management. If you will trade micro lots in forex, then your funding is minimally adequate. If you're looking at anything else, then you are at risk.

Actually, though I may have mentioned this before, the issue lies in having a consistently-profitable trading plan. Without that, position sizing and money management are irrelevant. Without that, trading micro lots in whatever simply means going broke slower.

The OP talks about doing the work. True. He needs to do the work before putting a cent at risk.

We have to understand that all stock market decisions -- each and every one, including doing nothing -- involve risk. Some people believe they can minimize their risk by relying on the cop-out "risk/reward ratio" cliche: "Ten points potential reward compared to 55 point potential downside" becomes "okay to trade" without even the slightest consideration of what the chances are that the stock will actually move in the undesired direction. It is the risk itself that needs to be analyzable, not the potential reward.

--Justin Mamis

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  #87 (permalink)
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1800lund View Post

Quoting 
You're basically going to be scalping for $50 gross profits until you get your balance up to something reasonable.]

This is very close to my strategy precisely! It may take me a a while to grow account to a sizable amount of working capital. Gains will be small/losses will be small.

The 1000.00 invested is not bread off my kids table, its cash I can afford to lose. If gone quickly, will cut my losses and move on. Very confident I have the discipline to make it last.

Simple Math (I used a calculator online)
1000.00 invested 10% Return monthly, in 18 months= 5559.52 and 24 months=9849.73
No bank has this kinda ROI.

Since we like to make funnies, let me make you guys laugh. Could spend 20 hours per week working a part time brainless JOB for 12.00 per hour. In 24 Months I would earn 23,040.00 with nothing invested. That is double the above numbers!!!

My choice is to learn a new skill that has potential for an early retirement. Willing to put in the time and efforts it takes. Lets face it there is no easy money out there. You have to WORK and earn it!

No bank has that ROI and not a lot of other people have it either (if any, consistently).

If you read any of the market wizards books you'll see the worlds best traders get 30-70% with a few exceptional who can do 100%+ per year but not for a sustained period - and definitely not off a stake of $1k. You think you can do 10% a year, that's way more than 120% a year compounded.

Stop running numbers in your head about how much you can make until you can figure out how to make it.

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  #88 (permalink)
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PeakGrowth View Post
No bank has that ROI and not a lot of other people have it either (if any, consistently).

If you read any of the market wizards books you'll see the worlds best traders get 30-70% with a few exceptional who can do 100%+ per year but not for a sustained period - and definitely not off a stake of $1k. You think you can do 10% a year, that's way more than 120% a year compounded.

Stop running numbers in your head about how much you can make until you can figure out how to make it.

10% per month is nothing for intraday traders. 30%-70% per year is exceptional for large funds/traders with lots of money to move.

Understanding yourself is just as important as understanding markets.
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  #89 (permalink)
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TickedOff View Post
10% per month is nothing for intraday traders. 30%-70% per year is exceptional for large funds/traders with lots of money to move.

For those dabbling in stocks yes, but a lot of them are commodity and futures traders, and majority of them have mentioned their size isn't a problem because they close the fund to new money once they feel it becomes one.

I don't doubt a lot can make 10% a month consistently without large draw down risks, but that would be the exception not the rule.

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  #90 (permalink)
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PeakGrowth View Post
For those dabbling in stocks yes, but a lot of them are commodity and futures traders, and majority of them have mentioned their size isn't a problem because they close the fund to new money once they feel it becomes one.

I don't doubt a lot can make 10% a month consistently without large draw down risks, but that would be the exception not the rule.

Well very few can make any money consistently for that matter. Just saying, elite intraday can traders make huge returns well over 10% per month, stocks, futures - whatever. Not saying they dont have rough months or whatever, its just they trade much more frequently. Assuming similar risk/reward + probability of winning, more trades per day = higher return. (Emphasis on my assumption. More trades isnt better, you gotta have edge).

Understanding yourself is just as important as understanding markets.
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