How To Make Big Money

[james1234]

new trader you seem to know to much, no offence but experience and knowledge count for nothing in this game im afraid. You seem to be in denile for some reason. And i have around ten tmes your knowledge and experience in any case, but it means nothing. Trading is counter-intuitive and doe's not work the way you think it will.


mr soul, excellent trade at 6800, well done....Just think by doing that trade you will now outperform most daytraders.

 

[Splitlink]

Counter-intuitive? It should work the way you think it will, most of the time, or something is the matter. That is what the trader has to correct.

 

[james1234]

split see my point. You disagree and are too in denile. Just accept that trading is random in its nature and out of your control. If you can't see this yet this tells me alot about what kind of trader you are. Price and s and r and pivots work fine and price will react to these levels as i have witnessed first hand but what about friday for example, did price care much about those levels and pivots when it ripped right through them without any care?,

i am so pleased to see that i see the markets differently to most as most fail and i do not want to part of the 95% club, it has taken me many years i must admit to get this far

 

[Splitlink]

I do not accept anything. I might not win all of my trades but they are not out of control and no one knows, on this site, the qualities of the other posters with regard to their trading. That, yes, is an unknown quantity, including yours, but we are an opinionated lot and newcomers accept that as a sign of trading competence.

That is why I empathise with New Trader when he says that he does not agree with a large proportion of us.

 

[new_trader]

new trader you seem to know to much, no offence but experience and knowledge count for nothing in this game im afraid. You seem to be in denile for some reason. And i have around ten tmes your knowledge and experience in any case, but it means nothing. Trading is counter-intuitive and doe's not work the way you think it will.


mr soul, excellent trade at 6800, well done....Just think by doing that trade you will now outperform most daytraders.

How can you possibly know how much I know? Your comment is spurious.
I don't "think" the market works in one way or another. You are definitely in the 99.9% worth ignoring.

 

[foredog]

most people seem to argue the solution is in the 'timeframe'. I am saying that study and practice is required to become a skilled trader, most seem to think the solution is in magic R/R formulas and what not.

If you're long and it's going down, it'll be going down on whatever chart/timeframe you choose, 5 min daily, whatever, as NT says timeframe is irellevant. Therefore (in theory) you're in a bad trade so get out and wait for a good one.

 

[james1234]

you still miss the point and just care about being right, even in your own trading i can see it, its so clear if you look from the outside in.

I am going long the dow and will make £25k when dow reaches 9300 some time this year, i will outperform most of you but not all. Am i a skill-full trader by doin this?, no, but do i care about knowledge, experience and skill, no, it means nothing in the end. I will make more money than most, i will go down probably upto £20k and will i be able to handle that kind of drawdown emotionally, yes as i have been there many times and have balls which most do not in this game.

To me trading is not worth sticking to a cautious 2% a trade system or 100 shares a time, waste of my time and even then you are not guaranteed anything

new trader i mean no harm, i have just read many of your pots and quite frankly thy wind me up alot.

 

[peto]

...I am going long the dow and will make £25k when dow reaches 9300 some time this year...

That's not trading, thats 'Buy and Hold".

...
it will go down probably upto £20k...

Might be better to wait till it does, before going long?

What's the plan if it doesn't make it back up for a year or two, or four? Spanish Stops? Or does your skill and experience mean you have 100% certainty that it will get there this year?

 

[jaygo]

new trader you seem to know to much, no offence but experience and knowledge count for nothing in this game im afraid. You seem to be in denile for some reason. And i have around ten tmes your knowledge and experience in any case, but it means nothing. Trading is counter-intuitive and doe's not work the way you think it will.


mr soul, excellent trade at 6800, well done....Just think by doing that trade you will now outperform most daytraders.

Experience and knowledge count for nothing in this game?....theres so many things incorrect with that statment i dont know where to start.

 

[james1234]

That's not trading, thats 'Buy and Hold".

Might be better to wait till it does, before going long?

What's the plan if it doesn't make it back up for a year or two, or four? Spanish Stops? Or does your skill and experience mean you have 100% certainty that it will get there this year?

good points peto, you are right but i could wait but then i run the risk of not getting in a once in a life time oppotunity thats the way i see it. I have never known such a good time to buy up this market, i would not consider this when dow reaches 9300 or 10000 as it could go either way, so its now or never and i have no problem being called crazy, spanish whatever. I have 12 years experience in the markets and all i am saying is it does not count towards anything, my experience makes me no better than anyone, ok it helps that i have had huge drawdowns before and come out on top and also emotionally it helps but what matters to me the most is do i perform?, do i make gains?, experience and knowledge do help here i admit but only in the postion sizing and money management, not in the trading itself that is my opinion and remember one thing we are all guess trading no matter how wrong you feel that statement is as at anytime no method is 100%

 

[james1234]

the real money is in the trend and always has been, do u think warren buffet would entertain daytrading?,

alot of it is just pure common sense, even my wife who knows nothing about the markets could tell me now is a good opputinity to go long long term.

 

[Splitlink]

good points peto, you are right but i could wait but then i run the risk of not getting in a once in a life time oppotunity thats the way i see it. I have never known such a good time to buy up this market, i would not consider this when dow reaches 9300 or 10000 as it could go either way, so its now or never and i have no problem being called crazy, spanish whatever. I have 12 years experience in the markets and all i am saying is it does not count towards anything, my experience makes me no better than anyone, ok it helps that i have had huge drawdowns before and come out on top and also emotionally it helps but what matters to me the most is do i perform?, do i make gains?, experience and knowledge do help here i admit but only in the postion sizing and money management, not in the trading itself that is my opinion and remember one thing we are all guess trading no matter how wrong you feel that statement is as at anytime no method is 100%

If you have 12 years experience in the markets, then you have made a fortune, already.
Otherwise, something is wrong. Therefore, you are probably right in your assessment of possible profits in the future. That is something that only you can know.

 

[james1234]

If you have 12 years experience in the markets, then you have made a fortune, already.
Otherwise, something is wrong. Therefore, you are probably right in your assessment of possible profits in the future. That is something that only you can know.

no i have not made any fortunes in the daytrading arena, I guess something is wrong with me then. i have made money in the trend though but only after figuring out daytrading is a mugs game and that was after many many years in. I still daytrade though as i get bored but i make no money from it in the end, nothing thats worth the effort anyway and i know there will be many people who can relate to that even if they do not admit it as i know because i have been there unbiasedly. Also remember it is not something you guys want to accpet or hear but you should be honest with yourselves.

I have made much more money away from trading and in my other businesses.

I tell you though and no one will believe me or accpet this but one day you will too come to the conclusion i guarantee it, that daytrading is not worth the effort, i have worked in a prop house too and only 1 or 2 traders kept the whole business afloat along with the desk fees and comms. I have been around, i have done and tried everything un-biasedly and stuck to a plan unconditionally, i have read every damn book and have good disciplne instilled in me, but i say again it means nothing if you cannot perform and make the woola

 

[peto]

good points peto, you are right but i could wait but then i run the risk of not getting in a once in a life time oppotunity thats the way i see it. I have never known such a good time to buy up this market, i would not consider this when dow reaches 9300 or 10000 as it could go either way, so its now or never and i have no problem being called crazy, spanish whatever. I have 12 years experience in the markets and all i am saying is it does not count towards anything, my experience makes me no better than anyone, ok it helps that i have had huge drawdowns before and come out on top and also emotionally it helps but what matters to me the most is do i perform?, do i make gains?, experience and knowledge do help here i admit but only in the postion sizing and money management, not in the trading itself that is my opinion and remember one thing we are all guess trading no matter how wrong you feel that statement is as at anytime no method is 100%

Your 12 years experience does not seem to have taught you anything about position sizing or money management if you believe that "trading is not worth sticking to a cautious 2% a trade system ", and admit to "huge drawdowns", and expect your next trade to have another 20k drawdown. One day (year?) it ain't gonna come back up (you agree that "no method is 100%".
But even if it always does, you lose the opportunity cost of having that capital deployed long term. If i trade risking 0.5% (half of one %) and winning about the same, 20 odd times a day, my potential earnings will far exceed yours even if my win rate is only a little better than 50-50, and with far less risk.

Each to their own however. If you are happy with that kind of "risk of ruin" that's OK. But don't be so dismissive of conservative traders who treat this as a business and who therefore protect their capital, instead of risking large chunks of it on once yearly trades or even "a once in a life time oppotunity".

 

[james1234]

peto respect to you, you are right in everything you say and i accpet the risks.

now this will upset many on here but what if i was to tell you that your trading idols such as trader dante, bainry are making no money?, well it is true and i know it first hand as i know someone who worked with tom at futex and he told me he made nothing. How does that make you feel?, if he cannot do it what makes you think you can?

anyway good luck to you all, this was just my own conclusions thats all and i am well on my way now and it feels better than anything i tell you

 

[james1234]

halo trader (proabaly spanish) puts a thread the other day and look at the interest. Un-beleiveable the amount of so-called experience traders viewing that thread believing the crap.

Mr charts constantly in a safe way looks for more mugs everyday it seems, the rest, unbelieveable and shows and tells me many more are struggling but too proud to admit it.

 

[peto]

now this will upset many on here but what if i was to tell you that your trading idols such as trader dante, bainry are making no money?, well it is true and i know it first hand as i know someone who worked with tom at futex and he told me he made nothing. How does that make you feel?, if he cannot do it what makes you think you can?

Doesn't upset me at all because they are not my idols (don't think I have any of them) and know nothing of bainry. Mildly surprised to hear of TD, in the event it proves true. His trading bears no relation to my own however so it doesn't affect how I feel about my trading.

 

[james1234]

why be surprised?, have you ever seen a trading statement or account statement from him? or anyone to be honest? apart from some small peanuts on sb?, infact have you ever seen anything long term say over a year that proves that the trader is worthy and is worth listened to?, the answer is a resounding no.

trader dante like many will eventually write a book or something

 

[trader_dante]

peto respect to you, you are right in everything you say and i accpet the risks.

now this will upset many on here but what if i was to tell you that your trading idols such as trader dante, bainry are making no money?, well it is true and i know it first hand as i know someone who worked with tom at futex and he told me he made nothing. How does that make you feel?, if he cannot do it what makes you think you can?

anyway good luck to you all, this was just my own conclusions thats all and i am well on my way now and it feels better than anything i tell you

LOL, "making no money". You really need to get your facts straight.

Sure, I made next to nothing at Futex. It's really not a secret and you don't need "someone who worked with me" to tell you that, since I told everyone on my own thread several times over. Infact, the management there gave me a leave of absence to go and trade on my own account before considering alternative possibilities because the environment and setup wasn't conducive to my style of means of making money.

I really couldn't give a toss what you think. I have myself to answer too. I'm not asking anyone on here to believe I'm a wildly profitable trader - all I have presented is the means I use for making money. It certainly works and I know I have helped a lot of people reach profitability. If it doesn't work for you...

Should I have to give personal account statements to satisfy the sentiments of a few people that are probably jealous and/or more likely than not, deeply cynical because of their own inability to generate a penny?

All I care about is that the people that are important to me (and there are a few on here) know this to be true. The others, can think what they will and waste time arguing about it accordingly

 

[trader_dante]

trader dante like many will eventually write a book or something

Because everyone that wrote a book is a complete failure.

Gosh, you're a half wit.

But don't stop...

...I'm accumulating detractors almost as fast as the stars next to my name