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How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:49,384 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


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How I Trade For a Living

Old November 3rd, 2016, 09:06 AM   #571 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
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2tenor View Post
Hi Bobwest,

Sorry about disturbing,
and OK, I already have an own trading journal since almost a year,

https://futures.io/elite-trading-journals/37856-2tenor-dax-2h-candles-3ma-system.html

< edit: should I delete my previous post, or is it OK? >

It's not my call, of course, to say what you should do. I just wanted to point out something you may not have understood.

You should do what you think is right.... but I would think it was right to delete it, if it were mine. But I have no authority on this, that's up to the moderators, and I am certainly not one.

Just my opinion, do as you think best. And I do wish you good luck in your trading and in your journal. I may pop by to see what's happening there.

Bob.

     
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Old November 3rd, 2016, 09:16 AM   #572 (permalink)
Market Wizard
Sarasota FL
 
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jdox View Post
Agree 100%. After reading a lot of these posts, it's apparent that many people don't have all the facts or have the facts misunderstood.

I also noticed that yesterday, the poll was staying pretty consintent right around 60/40 in favor of lifting the ban. Then rather quickly, it swung to 48/52 in favor of keeping the ban. Is there any chance that someone is making fake accounts to alter the vote? Or are new members prevented from voting? Just curious because it seems odd that it changed so abruptly.

@Big Mike and @sam028 are very alert to duplicate accounts, and stamp them out quickly (you can tell from the computer's IP address.) And Mike is not preventing anyone from voting to skew the results or anything.

The vote is changing because there are many opinions, that's all. The fact that different people have a different view of what the facts are, or what they mean, is the point to the voting.

Let it go on to its conclusion now.

Bob.

     
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Old November 3rd, 2016, 09:33 AM   #573 (permalink)
Elite Member
Texas, USA
 
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Big Mike View Post

stop chasing vendors of any kind

Mike

If I had the control or power to do this, I would have this embedded in everyone's subconsciousness. You cannot make money trading by "following" some vendor. Just cannot, cannot, cannot.

No one shares their primary money making system - NO ONE! I will never be convinced that someone, out of the goodness of his heart or "to give back to the community" is sharing his edge. This is THE most competitive business in the world folks. People just do not share their edge. That's the truth.

When you go work for a hedge fund, even as a short-term consulting gig, the first thing you sign is a non-disclosure, non-compete agreement. Why do you think that is the case?

I second BM's advice: stop chasing vendors of any kind. Please.

     
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Old November 3rd, 2016, 09:35 AM   #574 (permalink)
Elite Member
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Option 2 - A cooperative effort

I think the main thrust of the forum is to assist each other in finding our own individual way to be a successful trader.
I agree that there is no right way to trade.
There are many different ways to be a successful trader.
There are also many ways to fail.
This forum provides several options for members to learn, discuss and share.
Having a room where members can discuss ideas and ask for suggestions is an option which is worth while.
There is obviously a demand amongst the membership for a room venue.
I would suggest the following option:

Lets have a cooperative room which is for learning, discussing and sharing ideas.
This would not be a signal calling room but certainly a place to discuss what each member is seeing and thinking of doing.
If the cost of a room for 500 members is $250 per month (and less if the room was smaller); I would be willing to pay for a months cost.
If there were 10 other people willing to pay $250 a year then there would be no need to sell indicators or charge for the room. (I have suggested this to Alex and he has agreed to the idea of sharing the room)
The room would be free.
The room would be run by a committee of moderators.
There would be no one person in control who could change to a charge for access.

I suggest there be a schedule of moderators.
We would see and hear different approaches to trading.
The burden of moderating would be shared to lessen the load.

I have been a part time moderator in a previous (free) room and suspect there are others who would share their thoughts.

I think a live room is a valuable addition to the exchange of ideas.
Lets take this idea and make it work.

Are there 10 others who would share the cost (assuming $250) and 3 or more people who would be willing to moderate for an hour at a time.
Try it for a year and see if it goes.

Thoughts?

     
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Old November 3rd, 2016, 11:27 AM   #575 (permalink)
Membership Temporarily Revoked
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Futures Edge on FIO

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ratfink View Post
I agree with your point, many do, it would be great if it was that easy.

There are so many problems with proof of proof that it becomes the next level joke. Plus traders have runs of luck, funds have runs of luck, how many days/weeks/months do they have to show profit, is it continuous/every day/every week. What about different styles of trading.

And look at the car industry as a great regulated example of giving 'proof' - consumption figures and emissions standards !!!!! <- deliberate overuse here.

At the end of the day there is only one way, learning to become responsible for ourselves and our own good and bad decisions and then moving on.

Cheers

You are right, they can fake their statements. Two points.
.
1) Showing their brokerage statements would be the minimum standard. It would have to be over a reasonable period including draw downs and all. If they cannot even do that then Pass.

2) 99% of these Trading Room can not show anything. They never trade live!!!! Emmett will ask these con artist to show 3 months of brokerage statements and they can not do it and then he ask them to show 1 month and they cannot even do that. Heck I remember him asking one Trading Room if they could even show a single day they traded live and they could not even do that. This industry is so corrupt, most of these Trading Room would not be able to show any proof of profitable trading even over a short period where they might have lucked out. This minimum filter, which as you pointed out should be easy to met, they cannot. As most are out and out frauds that never trade a live account. That is how sad it is.

     
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Old November 3rd, 2016, 11:33 AM   #576 (permalink)
Elite Member
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rwbil View Post
You are right, they can fake their statements. Two points.
.
1) Showing their brokerage statements would be the minimum standard. It would have to be over a reasonable period including draw downs and all. If they cannot even do that then Pass.

2) 99% of these Trading Room can not show anything. They never trade live!!!! Emmett will ask these con artist to show 3 months of brokerage statements and they can not do it and then he ask them to show 1 month and they cannot even do that. Heck I remember him asking one Trading Room if they could even show a single day they traded live and they could not even do that. This industry is so corrupt, most of these Trading Room would not be able to show any proof of profitable trading even over a short period where they might have lucked out. This minimum filter, which as you pointed out should be easy to met, they cannot. As most are out and out frauds that never trade a live account. That is how sad it is.

I think they do not show statements, even fake ones, because IF they were to show fake statements, they would be prosecuted by SEC then. But until then, there is nothing really they can do about them. At least right now I think.

     

Old November 3rd, 2016, 11:33 AM   #577 (permalink)
Membership Temporarily Revoked
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bobwest View Post

Ironically, @Big Mike published several months of real-time results, with daily broker confirmations and monthly statements, and was not believed by some, even though he is a known quantity here, with no financial ax to grind.



Bob.

I have been a member for years and do not remember that. I remember his footprint thread with general discussions and an occasional DOM, but showing proof of live trades backed by daily brokerage statements. I am not doubting it, just do not remember it. Please do not post, "How dare you question ....." Can you send me a link.

Now saying that I know many successful traders, but not one that is a vendor. And that is my whole point there needs to be a minimum standard and I am talking bare minimum standard that they show proof of their claims. I still cannot believe how no one ask for that and when you do you are the "BAD" person. How dare you question my integrity. I do not need to prove anything. And so forth and so forth. Pure Con Artist Responses.

     
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Old November 3rd, 2016, 11:49 AM   #578 (permalink)
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bobwest View Post
I am a strong @Big Mike partisan. I have seen his intense efforts to keep this forum clean over a span of many years, and my hat's off to him.

There is no practicality in demanding "proof" of anything. We have seen extremely clever and effective faking over the years, in statements and even videos of supposed trades. Because of the obvious motive, vendors will give anything a try, and often will be believed.

Ironically, @Big Mike published several months of real-time results, with daily broker confirmations and monthly statements, and was not believed by some, even though he is a known quantity here, with no financial ax to grind.

As to how decisions should be made, I am OK with Mike's judgment and experience. I do know that he is open to reconsidering his decisions based on evidence, and have seen him do it. (He's doing it now.) I also think he is right most of the time, and someone does have to decide, one way or the other.

I am a little sorry now that this present question has been put to vote. I agree that the situation has some complexity, and there may be circumstances that need to be weighed. I made my vote, and I am unsure if I was right or wrong -- which is the problem. This probably should not be put to the membership, because of the possibility of uninformed voting, both pro and con, and the simple fact that our instincts have not been sharpened by years of being on the job of keeping the forum safe. It is too likely that votes will be made based on emotional or other reasons, being for or against Alex on fairly weak grounds, instead of experienced consideration. Of course, many, probably most, will do their honest best to get it right.

I'll accept the poll outcome, on the hope that the community's judgment will turn out to be right. I do hope that this is the last such experiment, however. I'll take Mike's judgment and fundamental fairness over a membership poll any day.

With all that said, since it has been put to vote, anyone who does have a view should register it, so the odds of a good decision are increased by the additional participation.

Bob.


sagor View Post
I think they do not show statements, even fake ones, because IF they were to show fake statements, they would be prosecuted by SEC then. But until then, there is nothing really they can do about them. At least right now I think.


Regulators are not prosecuting folks for showing genuine brokerage statements as long as they are not doing something fraudulent like showing a fake track record over 3 months and stating this is their performance and only showing winning statement and none of the losers. They prosecute for committing fraud. One of the scams these guys use is to say they cannot show statements because of the regulators. That is con artist talk. The first thing the regulators will want to see are brokerage statements. Fraud is what is illegal. Open honest transparency is what is desired.

     
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Old November 3rd, 2016, 11:52 AM   #579 (permalink)
Elite Member
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rwbil View Post
You can not be prosecuted for showing genuine brokerage statements as long as you are not doing something fraudulent like showing a fake track record over 3 months and stating this is his performance and only showing winning statement and none of the losers. They prosecute for committing fraud. One of the scams these guys use is to say they cannot show statements because of the regulators. That is con artist talk. The first thing the regulators will want to see are brokerage statements. Fraud is what is illegal. Open honest transparency is what is desired.

Exactly my point!

     

Old November 3rd, 2016, 11:54 AM   #580 (permalink)
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sagor View Post
Exactly my point!

I was just expanding on it, no offense meant. I just see these scammer using this as an excuse why they can not show legit brokerage statement.

     
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