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New to futures and doing great
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New to futures and doing great

  #11 (permalink)
Elite Member
Greensboro NC
 
Futures Experience: None
Platform: TOS/ NT Dorman
Favorite Futures: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 886 received


stocktrading99 View Post
That's because he averaged in too early and tapped out his capital by going in too big, too early. I take small short contracts on the $CAD (never long) and only average up after a major move.

It worked great for me with $65K cleared yesterday morning at .9792 and now I'm out of the market until I see a noticeable move upwards on the $CAD. Even if it takes a year of waiting, I'm up 31% for the month and year so I've beat almost every fund's annual rate of return already.

I simply fail to see the risk in what I am doing. I've made money in every single trade (about 40 trades) for 1 month and the dollar has been totally random. Its not like the dollar has been predictable or I've been lucky.

I look at it this way. If I went to Vegas with $5 million and only bet $1 every hand, then doubled my bet on every losing hand until I won, I would make money. That's why they limit the spreads for minimum and maximum.

I had savings in a mutual fund that lost 18% in the past 2 months. I've redeemed that money and adding it to the trading capital.

Maximum amount I can lose is pretty straightforward as the $CAD has a definite ceiling and by going short, I avoid the risk of the bottomless pit to 75 cents it sometimes goes to.


he really didnt average in to early, but I see your point. I do like your numbers $$$ well done thx for reply

 
  #12 (permalink)
Trading Apprentice
Winnipeg Canada
 
Futures Experience: Beginner
Platform: IB
Favorite Futures: Futures
 
Posts: 4 since Jun 2013
Thanks: 0 given, 2 received

The $CAD dropped to .9746 today and had I been more patient I would have made an extra $80K today but I find if I can limit my greed and take the money sitting on the table when its there rather than holding out for more, I'm far further ahead. Everytime I waited for the $CAD to make a huge drop, lose out on making multiple small gains so this is the strategy I will continue with, even at the expense of the lottery wins I miss like today.

I figure it could have easily gone the other way and I would have been unable to lock in the gains so small, daily gains work better for me.

 
  #13 (permalink)
Trading Apprentice
Canada
 
Futures Experience: Advanced
Platform: Ensign Soft
Favorite Futures: Russell 2000 and ES
 
Posts: 25 since Jun 2013
Thanks: 0 given, 8 received


"I would have made an extra $$$$$"

please stop doing this to yourself, the sooner the better.

woulda coulda shoulda is not helping you towards your goal.

It is part of getting a better trader.

 
  #14 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Never say never. Futures are great regarding leverage, but a bitch regarding leverage. The trader's trail of tears is often paid for by averaging down. I made over $100k on my first-ever trade...

 
  #15 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

Guys.

Come on, please.

I won't go as far as to ban this guy, but I am going to close this thread. This has to be the biggest "joke" of a thread I have seen in the last couple years on the forum.

Do not encourage this guy.

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 user says Thank You to Big Mike for this post:
 
  #16 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

Also the chances are quite high (based on my experience) that the guy is just a vendor selling something, which would become apparent after a few more posts.

I have many tools available at my disposal to determine that.

Since I didn't let it play out and get concrete proof, I've just closed the thread. But if the guy comes back, he'll be banned.

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 user says Thank You to Big Mike for this post:

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