Full time trading does it really pay

[Pazienza]

It's decent, but in reality you won't make £100 a day(not you). Some days you will, but not everyday. Just realistically it's not possible for 99% of traders. You can't always be right. Also the psychological pressure, due to the fact that you have to make money. In theory it sounds easy.

Don't forget drawdown periods, the desirability of growing your account, on and on.

In theory it is perfectly possible - risk 2.5% per trade (£500), average just 2R per week (£1000), £50,000 per annum. Easy!

In practice however, £20,000 is woefully under capitalised.

However, since Black Swan is concerned with theory rather practice, and doesn't actually trade for a living, you have to excuse him not understanding the difference.

That said bud, IMO it's not fookin rocket science is it mate ffs. Tbh I cba to explain it, but even BS with his practice breadcrumb account should have got it by now ENDEX. Bless...

I might chuck around some cliches and trading jargon so it sounds like I know what I'm talking about.

 

[brettus]

I might chuck around some cliches and trading jargon so it sounds like I know what I'm talking about.

Hahaha! Aint it true!

Don't forget drawdown periods, the desirability of growing your account, on and on.

In theory it is perfectly possible - risk 2.5% per trade (£500), average just 2R per week (£1000), £50,000 per annum. Easy!

In practice however, £20,000 is woefully under capitalised.

However, since Black Swan is concerned with theory rather practice, and doesn't actually trade for a living, you have to excuse him not understanding the difference.

In theory i should be a millionaire. Now i feel like a retard for that not being the case...Might aswell give up.

 

[wackypete2]

Hahaha! Aint it true!



In theory i should be a millionaire. Now i feel like a retard for that not being the case...Might aswell give up.

If you were a tard yesterday, then today you can be a retard.
I've been re-tarded for years.

Peter

 

[brettus]

If you were a tard yesterday, then today you can be a retard.
I've been re-tarded for years.

Peter

You just made me even more retarded for not understanding that.

 

[wackypete2]

You just made me even more retarded for not understanding that.

I guess it's a good thing that I'm not a stand up comedian

Peter

 

[meanreversion]

Doug Billings: Either way, you gotta be super smart to count cards, buddy, okay?
Alan Garner: Oh, really?
Doug Billings: It's not easy.
Alan Garner: Okay, well, maybe we should tell that to Rain Man, because he practically bankrupt a casino, and he was a retard.
Stu Price: What?
Alan Garner: He was a retard.
Doug Billings: [pronounces properly] *RE*tard.

 

[fayalac]

You main problem is that you sell when you "think" it will go down, the rigth question must be what makes you think it will go down when it goes up and viceversa, maybe you are not using the rigth indicators or maybe you are not interpretting your indicators information at the rigth way.
By the other hand, these is a market, some will win, some will lose.

 

[brettus]

You main problem is that you sell when you "think" it will go down, the rigth question must be what makes you think it will go down when it goes up and viceversa, maybe you are not using the rigth indicators or maybe you are not interpretting your indicators information at the rigth way.
By the other hand, these is a market, some will win, some will lose.

Thanks. so sell when up, buy when down. £100 a day here i come! I only feel socially inept now!

 

[wackypete2]

Thanks. so sell when up, buy when down. £100 a day here i come! I only feel socially inept now!

You're just having a really bad day, aren't you?

Peter

 

[JRP2891]

Yes there are.

Investing without knowledge is gambling.

Trading with knowledge is not gambling.

To be successful in any profession requires time, dedication, education and training. As one becomes better in their profession, they get better rewarded. Your expectations should be similar for trading as a profession that provides you with a living.

Hark, listen to the man who has been successfully trading since, er, August .. !

(PS buy and hold doesn't count as trading, thought I'd pre-empt that)

Exactly, i'm glad someone else thought the same. Stop taking the p1ss Howard.

 

[Pazienza]

Exactly, i'm glad someone else thought the same. Stop taking the p1ss Howard.

Stop? I think you'll find he's only just started - he hasn't even begun selling yet .

 

[JRP2891]

Stop? I think you'll find he's only just started - he hasn't even begun selling yet .

A five month track record (track record in the loosest possible terms), and he's about to "start" selling his wisdom and experience, you really couldn't write it!

 

[brettus]

A five month track record (track record in the loosest possible terms), and he's about to "start" selling his wisdom and experience, you really couldn't write it!

Doesn't he do like 1 trade a month aswell? I think even if he was trading 10 times a day i wouldn't call it a track record.

 

[Pazienza]

Doesn't he do like 1 trade a month aswell? I think even if he was trading 10 times a day i wouldn't call it a track record.

It's pretty bizarre. For what it's worth I think he's genuinely deluded, which at least is better than many vendors.

 

[brettus]

It's pretty bizarre. For what it's worth I think he's genuinely deluded, which at least is better than many vendors.

I'm up this year. Anyone want to invest?

 

[Pazienza]

I'm up this year. Anyone want to invest?

 

[HowardCohodas]

Doesn't he do like 1 trade a month aswell? I think even if he was trading 10 times a day i wouldn't call it a track record.

There is a record in this forum of my performance in 5.5 months. A few highlights follow.

View: Performance statistics as spreads (not Iron Condors)

1/15/11

Total closed spreads:       62
Profitable spreads:         58
Percentage Profitable:      94%
Average profit per spread: 6.1%
Unprofitable spreads:        4
Average loss per spread:   9.3%

How were spreads closed?
Rolled spreads:             21
Exited spreads (last day):   9
Expired spreads:            32

Another view: Month on month return in account

Aug  7.4%
Sep  7.7%
Oct 11.3%
Nov 11.2%
Dec 15.1%

You may or you may not consider this a "track record," as you like.

 

[Pazienza]

Howie, I thought you were going to set up a closed thread. Do that and you can pimp your garbage based on your silly fantasies in peace without interruption.

Or are you here to tell more lies about our little exchanges? That is, unless you're confused about what happened - let me know and I'll remind you again. Or perhaps it is my "communication skills" letting me down ?

Blah, blah, blah - a conclusive argument in your book .

 

[brettus]

There is a record in this forum of my performance in 5.5 months. A few highlights follow.

View: Performance statistics as spreads (not Iron Condors)

1/15/11

Total closed spreads:       62
Profitable spreads:         58
Percentage Profitable:      94%
Average profit per spread: 6.1%
Unprofitable spreads:        4
Average loss per spread:   9.3%

How were spreads closed?
Rolled spreads:             21
Exited spreads (last day):   9
Expired spreads:            32

Another view: Month on month return in account

Aug  7.4%
Sep  7.7%
Oct 11.3%
Nov 11.2%
Dec 15.1%

You may or you may not consider this a "track record," as you like.

You have 58 trades with an average profit of 6.1% and 4 trades with an average loss of 9.3%. So 316%. Whats 6.1%? Of your account? Of the stock value?

I can't really knock that. I still think with the number of trades you are doing, you need at least a year. The market has suited your strategy recently aswell.

 

[Pazienza]

You have 58 trades with an average profit of 6.1% and 4 trades with an average loss of 9.3%. So 316%. Whats 6.1%? Of your account? Of the stock value?

Don't try getting into that - the debate has been rumbling on for years on his thread. But no, it's not a percentage of account value.

I can't really knock that. I still think with the number of trades you are doing, you need at least a year. The market has suited your strategy recently aswell.

And don't tell him that either, he doesn't like it. See his thread for a full and somewhat gruesome expose from people who know a little more about options than Howie does.

.