How to win trading & when not to trade (I have 1 month real live record so far)

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

first, I wanna live in United States because of my visa status and secondly, I do not risk my capital and hope to get bigger capital so i can double the return.
lastly, you build track record to work for bigger funds.

Thank you for asking and again im still skeptical for this company.

why get a fulltime job? You appear to be making nice money trading.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I asked them the website is not up yet b/c they said in merger/buyout with empire executions. epiphany trading is the one interviewing me.
they send me links
http://www.cnbc.com/id/24773009/
http://www.epiphanytrading.com/

I'm skeptical still, but willing to take the chance since it's a block from wall street

Whats the company's name?

 

[pboyles]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I see you now have a vendors badge. What are you selling?

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I asked them the website is not up yet b/c they said in merger/buyout with empire executions. epiphany trading is the one interviewing me.
they send me links
http://www.cnbc.com/id/24773009/
http://www.epiphanytrading.com/

I'm skeptical still, but willing to take the chance since it's a block from wall street

What are these links? what's the company's name? How did you find them? I doubt that they will provide you with paper work.... but I wish you the best.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

yep im doubting too, I'm still looking let me know if you could help lol.
I told you the company name already epiphanytrading. they are in the middle of merger/buyout between epiphany and empire executions.

ep website is not up yet,but the Costa guy he works in empire executions according to his linkedln.

What are these links? what's the company's name? How did you find them? I doubt that they will provide you with paper work.... but I wish you the best.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

had another interview last Friday on a small fund with salary and 20% bonus from trading. hope i will get this one.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I had my 2nd round interview and im hoping for the 3rd round. This firm pay small salary and 20% of profits. but it seems that the project manager doesnt like my drawdown. I told them I use time stops, but he doesnt really understand and/or agree. since I lost a lot during December (when I should not trade).
they said they will contact me and might put me on live market to see. idk if i should do it , since i might reveal my strategy lol

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

anyone good with brain teasers question ?? I suck at this and alway fail at interview lol especially when the time is 1 minute per question help!!!

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Shot... got any of the questions?

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I added ur msn. idk if u accepted already.

I had 5 math and 3 brain teasers this noon.
one of them was 1,3,8,9, 19,29, … what is the next sequence ??
this was multiple choice for the math q

I basically need like strategy or mindset to solve this. because I never care how to learn this when I was a kid. I thought it was useless puzzle and I dont use it in trading lol

Shot... got any of the questions?

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Let me know what you all think.
I have been offered by to manage 25,000 of firm capital with 25% profit cut, once i double this, they will put another 50K.
but what they do is the want me to open up account w them and they will mimic my trading order to this firm capital. so basically my profit will be from my own trading account + 25% profit from the firm capital

here are more details:
Profits are distributed on a monthly basis meaning, you only make
money if we make money. If there are losses, you won’t get paid till
losses are covered. You get 25% of new profit. For example if one
month you make 10,000 you get 2500. If next month you loss 10,000 you
get zero. If third month you make 5000, you still get zero because you
have to make up for the losses first before you get paid.

Only you have the option to add more accounts to the block. This is
called Block trading. We set a block for you and you and only you can
trade the block. You can increase or decrease the number of accounts
on the block as you wish prior to the start of the day. Meaning, in
the middle of the day you cannot increase or decrease any lot sizes.
One of the reasons we are doing this is because we want to work with
you. This is a normal process in our business. We have several prop
traders already. Just like you. We want to test you and if things work
out, we want to make you a CTA and raise money for you. We can easily
raise several million dollars if your results are satisfactory.When
you are on a block you can see who is on the block because the block
was created for you and you only. Now, our only reason we want to do
business with you is we see the potential in your trading. We want you
to trade our account just like the way you trade your account. You
lose, we lose, you win, we win. It is that simple.

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Let me know what you all think.
I have been offered by to manage 25,000 of firm capital with 25% profit cut, once i double this, they will put another 50K.
but what they do is the want me to open up account w them and they will mimic my trading order to this firm capital. so basically my profit will be from my own trading account + 25% profit from the firm capital

here are more details:
Profits are distributed on a monthly basis meaning, you only make
money if we make money. If there are losses, you won’t get paid till
losses are covered. You get 25% of new profit. For example if one
month you make 10,000 you get 2500. If next month you loss 10,000 you
get zero. If third month you make 5000, you still get zero because you
have to make up for the losses first before you get paid.

Only you have the option to add more accounts to the block. This is
called Block trading. We set a block for you and you and only you can
trade the block. You can increase or decrease the number of accounts
on the block as you wish prior to the start of the day. Meaning, in
the middle of the day you cannot increase or decrease any lot sizes.
One of the reasons we are doing this is because we want to work with
you. This is a normal process in our business. We have several prop
traders already. Just like you. We want to test you and if things work
out, we want to make you a CTA and raise money for you. We can easily
raise several million dollars if your results are satisfactory.When
you are on a block you can see who is on the block because the block
was created for you and you only. Now, our only reason we want to do
business with you is we see the potential in your trading. We want you
to trade our account just like the way you trade your account. You
lose, we lose, you win, we win. It is that simple.

Give it a shot. you got nothing to lose right?

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Yea but I want to wait till I graduate. I have other offers to consider as well without using my own capital at 50/50 profit split.

and I am still on the interview with SMB capital and try to get their scholarship so i dont need to pay for their program. I am waiting for their next round invitation reply. We'll see

let me know what you think on the other offers.

Give it a shot. you got nothing to lose right?

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

How do you find all of these companies? LOL

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Google duhh.
my long term goal is to manage other people's capital both firm and retail.
but I think I might need to get licensed with series 3 if this things work. if not i can always manage my own account ,friends, plus I can transfer my skills to my siblings lol. or I can even open up a block account and mimic my trade to my other personal account or friends and double up the profit and risk lol.

it's not easy to manage other capital u know, so many requirements like stop loss $1000/day and such and such. i dont like this narrow stupid stop loss stuff but I have to adapt if I really want to. most firm always want fixed stop loss while I dont use stop loss lol. I think the only way is to play bigger capital so the stop loss is bigger lol

How do you find all of these companies? LOL

 

[brettus]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Google duhh.
my long term goal is to manage other people's capital both firm and retail.
but I think I might need to get licensed with series 3 if this things work. if not i can always manage my own account ,friends, plus I can transfer my skills to my siblings lol. or I can even open up a block account and mimic my trade to my other personal account or friends and double up the profit and risk lol.

it's not easy to manage other capital u know, so many requirements like stop loss $1000/day and such and such. i dont like this narrow stupid stop loss stuff but I have to adapt if I really want to. most firm always want fixed stop loss while I dont use stop loss lol. I think the only way is to play bigger capital so the stop loss is bigger lol

I think you need to find a big sum of money to trade with. These guys with their $1,000 limit a day will only halt your progress. I think you'll find it hard to get backing that will actually help you progress. I think you're better off trading your own money. I think you need to be looking at, at least $1mio with your strategy in order, for them to be comfortable with your $10k daily swings.

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Google duhh.
my long term goal is to manage other people's capital both firm and retail.
but I think I might need to get licensed with series 3 if this things work. if not i can always manage my own account ,friends, plus I can transfer my skills to my siblings lol. or I can even open up a block account and mimic my trade to my other personal account or friends and double up the profit and risk lol.

it's not easy to manage other capital u know, so many requirements like stop loss $1000/day and such and such. i dont like this narrow stupid stop loss stuff but I have to adapt if I really want to. most firm always want fixed stop loss while I dont use stop loss lol. I think the only way is to play bigger capital so the stop loss is bigger lol

Focus on lowering your draw down.

 

[safvan]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Again another thread around day trading and trading for a firm. Prop firms are nothing more than gambling shops. I have had extreme difficulty meeting any successful day trader to date. Few of these guys are simply brilliant with exact entries and exits yet few if ever make any substantial amount on day to day basis.

Common folks that have limited knowledge of stock markets end up making great amounts of money simply by buying a good company in bull markets and riding the trend than most experienced day traders do in a BULL market.

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! Men who can both be right and sit tight are uncommon. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
--Livermore

 

[renato0o]

Re: CHARTS OF AVERAGING DOWN (3 charts) & TODAY'S PERFORMANCE SUMMARY.

I'm new at the whole game, the forums, and everything. I was just following this discussion since my program recently covered to be disciplined at staying away from averaging down lol.

This is some great trading, except for the GC trade. Although I'm just a beginner, that seems pretty darn risky to me.

What I'm curious about is what tools were used to enter into a position? What indicators do you follow? And how much work do you do to research/analyze?

Just so that you're aware, I'm just sticking with NYSE and $1 to $9 dollar stocks with low volatility to begin with. Maybe live life on the edge and get to play up to a 13 or 15 dollar stock lol.

hey guys update. check out my attachment for today's jJune 16 trading execution and performance summary. (1 excel file contain my performance & execution and 3 charts w/ real live execution)

You can see it better how I AVERAGING DOWN. for doubters out there.
I mean its risky but somehow i survive because of this.
again this is for advanced not for beginner.

Last friday i was losing huge try to make it back this week.but, I'm still net around 8k for June.

I'll post rest of my statement either tonight or tomorrow night. I wont be trading this Friday. (quadruple witching day). instead, I will go to Goldman Sachs office this Friday morning for annual conference crap.

hey be careful out there on this option expiration week,
those who use automated system try to use it wisely turn it on and off depending on situation.

good luck.

 

[renato0o]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I have the same issue. And I have found this problem very consistent with most traders. How can a day trader teach themselves or learn patience?

I realize how habits and consistencies are extremely important in daytrading, and I've had a long list of bad trades from getting impatient and jumping into trades too early. I would like to break out of this habit.

At the same time, I've attempted to be patient, and sometimes I miss out on greener days due to being too patient lol.

--For the most part, being impatient is my problem. Where can one find this balance? The question is open to everyone

as I promised, I am attaching 2 of my workspaces for gold and emini
and I also attach today's execution w/charts and excel (performance and execution as well).

I did pretty bad today, I had 10K drawdown from trading gold & realized almost 6k loss, so if you see my gold execution charts, it looks v messy. I was not patient enough.