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New to futures and doing great

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  #11 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 891 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

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  #12 (permalink)
Winnipeg Canada
 
 
Posts: 4 since Jun 2013
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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.

 
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  #13 (permalink)
Canada
 
 
Posts: 25 since Jun 2013
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"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.

 
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  #14 (permalink)
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

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...

 
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  #15 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
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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

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  #16 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 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

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June 18, 2013


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