NexusFi: Find Your Edge


Home Menu

 





How I Trade For a Living


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one rocksolid68 with 238 posts (1,219 thanks)
    2. looks_two bobwest with 53 posts (262 thanks)
    3. looks_3 DaxyMcDaxFace with 37 posts (55 thanks)
    4. looks_4 wldman with 28 posts (143 thanks)
      Best Posters
    1. looks_one Inletcap with 16.2 thanks per post
    2. looks_two Big Mike with 10 thanks per post
    3. looks_3 rocksolid68 with 5.1 thanks per post
    4. looks_4 bobwest with 4.9 thanks per post
    1. trending_up 137,549 views
    2. thumb_up 3,079 thanks given
    3. group 139 followers
    1. forum 662 posts
    2. attach_file 95 attachments




Closed Thread
 
Search this Thread

How I Trade For a Living

  #591 (permalink)
 
wldman's Avatar
 wldman 
Chicago Illinois USA
Legendary Market Wizard
 
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
Frequency: Several times daily
Duration: Hours
Posts: 3,507 since Aug 2011
Thanks Given: 2,046
Thanks Received: 9,491

@Rory ,my hopes are dashed too. Continued excellent job @Big Mike.

Visit my NexusFi Trade Journal
Thanked by:

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Deepmoney LLM
Elite Quantitative GenAI/LLM
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
43 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #592 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


Thanked by:
  #593 (permalink)
 grausch 
Luxembourg, Luxembourg
 
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Stocks
Posts: 494 since May 2012
Thanks Given: 1,731
Thanks Received: 1,159



Inletcap View Post
Seems he really moved quickly to go from a struggling trader, to passing a combine, through funded trader prep and traded enough as a funded trader to open a real brokerage with enough $$ to hold multiple GC contracts overnight along side ES and CL positions... I've been around this industry for 2 decades and I must say this is quite the turnaround.

I would say that it is not impossible but it is improbable.

I never investigated his claims of success, but I did attend his trading room twice. Seemed like a reasonable guy and before reading this thread I would have voted to unban him. However, the quoted text above makes a very convincing argument to keep the ban in place. Even if he was trading successfully for these last couple of months, then it is still quite a stretch to call this "trading for a living". Unless he had decent backing (which could be possible), there is no way he would be trading for a living after only a couple of months - that type of ROI is only possible in hindsight.

No offense meant to those who voted to unban Alex, but what is the point of learning from someone with that limited experience? @bobwest showed a link to @Big Mike's thread - I spent a lot of time going through those posts in the past and will do so again after seeing Bob's post. There was quite a lot of quality information there, but best of all, it comes from a source that I would trust.

Edit: Link to where posting in Big Mike's thread started again - .

Thanked by:
  #594 (permalink)
 jodistrict 
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
Posts: 228 since Apr 2010
Thanks Given: 72
Thanks Received: 145

I don't see much conflict here, because he has a website independent of futures.io, so the traders who want to join his room can do so. And it's free. If he starts charging you can just leave. The real issue here is whether Big Mike wants to lend his reputation to this enterprise.

My only experience with trading rooms was many years ago I joined EOTPRO. They claimed that they had a neural net program which chose the correct locations, and the room was designed to shadow trade. This was before I knew any better. I lost $1000 taking his exact trades. And I don't even know whether he was trading live. Probably not. The moderator was a frustrated comedian with the gift for gab. But he couldn't trade himself out of a paper sack.

I think this is the underlying characteristic of a trading room. My impression of these rooms is that the people who join them want to be entertained. The moderators have exceptional marketing ability, but are poor traders. As long as people want this, others will try to provide the services. And it appears to be profitable. For me, I prefer to trade in silence. If I want comedy I will buy Laurel and Hardy DVDs. It's much cheaper. What I saw, with the room at issue, is that he bought and doubled down against a raging bear trend from the open. A rookie mistake.

  #595 (permalink)
 DRock306 
Saskatchewan
 
Experience: Beginner
Platform: Ninjatrader
Broker: TST / Rithmic
Trading: CL
Posts: 959 since Apr 2014
Thanks Given: 2,629
Thanks Received: 1,710


Inletcap View Post
Oh man, I sincerely hope you don't feel this way about @Big Mike and our community. I feel we have the finest place to come together on the web and Mike is charged with doing what he can to share his opinions yet be open minded to others strategies and ideas. This is what brings us all together and his policing is done to help keep us safe. I wouldn't want the job. Mike has demonstrated that he's a stand up guy with strong morales who has to draw a line in the sand that's often subjective- his efforts give us what we have here and I am very appreciative.

Well said and handled that like a champ

Sent from my SGH-I337M using Tapatalk

Thank you to everyone who helped me in my journal contest it all ment alot.
Visit my NexusFi Trade Journal
Thanked by:
  #596 (permalink)
 
trademe1's Avatar
 trademe1 
State College, Pa U.S.A.
 
Experience: Intermediate
Platform: Ninja Trader,Sierra Chart
Trading: NQ CL ES
Posts: 56 since Aug 2014
Thanks Given: 589
Thanks Received: 103


rwbil View Post
It never ceases to amaze me how asking for actual proof of claims in the day trading business is an "EVIL". No other business operates this way. And lets say the regulators finally decided to regulate this industry. What do you think the first thing they will ask for; Brokerage Statement for proof.

And to top it all off this kid was associated with Global Trading Room. If that does not say something I do not know what does.

As for BM. He is providing a forum for these vendors. Let me ask you do you think NT should be held responsible for the people they let promote without checking any credentials what so ever. I do and I hope the regulators finally crack down and we will see. I have NO doubt BM knows Al Brooks and these other Micro Scalpers are scammers, yet he gives them credibility by allowing then to put on webinars. In fact he once called out the Rock Star Journals, which were all fake.

With Emmett's site the truth is finally being told about these scammers and the regulators are finally closing them down like Open Range Trader who posted all fake results. And sadly he was not the exception in this business.

If someone thinks some 18 year old kid who shows no proof of trading profitable is going to teach someone to scalp ES profitable, then they are the fool born every minute.



Big Mike has created this forum (in my opinion) to further the trading world for the good and tries to shield traders from parasites that exist in the trading world. I sincerely believe he is helping people get and share information, techniques, advice, experiences ect.

As with anything there must to be rules to abide by and someone has to enforce the rules. Sometimes I disagree with some of the decisions, but I believe Big Mike makes the decisions by following these rules and input from the community in a fair way.

I certainly wouldn't want to have the job of policing the forum, Kudos Mike!!

Thanked by:
  #597 (permalink)
 
rwbil's Avatar
 rwbil 
Baltimore MD
 
Experience: Intermediate
Platform: NT
Broker: IB, Kinetics
Trading: E6, ES and CL
Posts: 93 since Nov 2012


trendisyourfriend View Post

2 can play this game.

Ban Him:



Darn I was hoping the video of Moses being Banned would be embedded. How did you do that?

  #598 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


rwbil View Post
2 can play this game.

Ban Him:



Darn I was hoping the video of Moses being Banned would be embedded. How did you do that?


Visit my NexusFi Trade Journal
Thanked by:
  #599 (permalink)
 
mmaker's Avatar
 mmaker 
Toronto Canada
 
Experience: Intermediate
Platform: ninjatrader
Trading: es
Frequency: Several times daily
Duration: Minutes
Posts: 400 since Feb 2011
Thanks Given: 1,178
Thanks Received: 508


Rory View Post
If the camel gets his nose in the tent, his body will soon follow.

as the old proverb goes.

OMG Rory thats the funniest thing i have heard all week.

Another funny thing....how could a relative minor teach trading to others some who may have clocked years ....10,000 hours. You know...the 10k hours that makes you a better trader.

Just a side note....Alex has never seen a bad GDP report drop the ES 20 points in the blink of an eye.

He was still in grade 8 when fukushima melted. He was barely out of diapers when 9/11 happened. He missed a couple of wars and WMD announcements.

Don't you have to be experienced to teach others?

If that doesn't matter maybe we should all charge $427. Hell we have experience - we could prolly get $10,000.

Visit my NexusFi Trade Journal
Thanked by:
  #600 (permalink)
 tulanch 
Salt Lake City, UT
 
Experience: Intermediate
Platform: SC, NT, MT
Broker: AMP
Trading: NQ ES YM Bonds
Posts: 265 since Mar 2010
Thanks Given: 50
Thanks Received: 386


Something just does not seem right

1.) why buy gotomeeting when with a little looking around you can do it for a lot less if not free
2.) why is his picture on that teachers site?
3.) why does his dad's name keep coming up?
4.) how can someone blow two accounts and then a few months later be utterly successful?
5.) and why do I feel for him - is that some institutional group trying to manipulate my thinking or is it real?

If this was a question about taking a trade or not taking a trade - I would not take it.

I do like the idea of a temporary ban; Just in case it's real and he is as pure and genuine as he comes across.

If it's not real, well only time will tell. But if it's not real, the group behind him would seem to have the means to overcome and be back on FIO as some other newbie and try again learning from the mistake of showing their cards.

Oh and please no one be bashing my idle Al Brooks - if you want to learn to read a chart, read his books multiple times cause that's what it takes to start to understand what he genuinely offers. I am not affiliated with him in any way, but I have personally met the man and was a member of his site when it first started up. I do not trade like him, but I sure did learn a lot from him. If you think he makes a lot of money off selling books, you should do your research on the profit margins in that business for the authors.

As stated many times in this thread, you need to think for yourself. If what someone offers you does not work, do not use it. If someone offers to make you wildly successful, it ait true, only you can do that. Yet, people are people, do what they do. Here's an interesting concept; If you are a successful trader, who is funding your profits? Is it the other successful traders? I don't think soo......

I vote for temporary ban with restatement (if that is an option)

Thanked by:

Closed Thread



Last Updated on November 7, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts