Why do they do it?

[Black Swan]

hehe TDs not going to be happy with me..

Au contraire, I'm sure he is... Nice 'work' btw.

 

[bedsit]

hehe TDs not going to be happy with me..

Let me take a wild guess - TD may have much more than 14 subscribers after your post.

BTW I've never seen this sort of results before - amazing. Congratulations!:cheers:

 

[DionysusToast]

Yup - excellent results.

 

[montmorencyt2w]

hehe TDs not going to be happy with me..

You clearly aren't superstitious. Some might have feared that posting something like this might affect their "mojo".


Nice going anyway, and I hope it continues.

 

[brettus]

It looks like you've had a few swings on the account aswell. I wish i had your balls. I would be rich by now.

 

[Pazienza]

hehe TDs not going to be happy with me..

I do not intend to take anything away from what is without doubt a great achievement, but just to clarify, you are the fellow who risks between 5% and 10% per trade, is that correct?

Like I say, still a superb result, but (if it is the case and I'm not thinking of someone else) it was done using rather more risk than most people would usually think of taking on.

 

[timsk]

Nice going anyway, and I hope it continues.

Yeah, I second that BlackBison - I hope it does too. Can't help but notice the statement was from 11.09 to 06.10 - so I guess you already know the answer!

Tim.

 

[BlackBison]

Yeah, I second that BlackBison - I hope it does too. Can't help but notice the statement was from 11.09 to 06.10 - so I guess you already know the answer!

Tim.

Well me and pretty much everyone else on the forums, here it goes again- third times a charm :cheesy:

 

[montmorencyt2w]

Well me and pretty much everyone else on the forums, here it goes again- third times a charm :cheesy:

One reason why you may regret posting this is that you will now be faced with intrusive questions like the following:

Were you being mentored by TD from November 2009?
It's just that he talked about having had a room now for 8 months, I think it was.
(Perhaps you were a guinea pig).


Can't help but notice that you had some bigger losses in the 2nd half of that month-ish, than in the 1st, which seems to have eaten into account-growth.

 

[trader_dante]

hehe TDs not going to be happy with me..

Of course I am happy for you but the reason I asked you not to post your statements was because I just think it makes for unrealistic expectations from people that don't understand the game.

 

[scose-no-doubt]

cant argue with 17k in a month lol.

how many £/pip is that at?

 

[bedsit]

One reason why you may regret posting this is that you will now be faced with intrusive questions like the following:

I hope he doesn't. Yet again - excelent results. I had a closer look and hope BB will excuse my curiosity.

From £2,784.63 on 2/11/2009 to £64,851.11 on 21/6/2010 +2229%

from £64,851.11 on 21/6/2010 to £52,531.66 on 1/12/2010 -19%

from £52,531.66 on 1/12/2010 to £69,115.65 on 1/1/2011 +32%

First 7 months look amazing. December 2010 very good. Just wondering what happened from 21/6/2010 to 1/12/2010 - bit of a drop there -19%.

PS I've tried my best calculating profit/loss. Appologies if there are any mistakes.

 

[Pazienza]

cant argue with 17k in a month lol.

how many £/pip is that at?

A few, are ked.

 

[timsk]

Well me and pretty much everyone else on the forums, here it goes again- third times a charm :cheesy:

Thanks BlackBison,
As a matter of interest, may I ask what prompted the switch from IB to Spread Co?
Tim.

 

[bedsit]

Thanks BlackBison,
As a matter of interest, may I ask what prompted the switch from IB to Spread Co?
Tim.

Yeah - good point. Why change it?

If you turned £2,784.63 into £64,851.11 in less than seven months, at that rate if you stayed with them you could have had 1.44 million already.

 

[brettus]

Yeah - good point. Why change it?

If you turned £2,784.63 into £64,851.11 in less than seven months, at that rate if you stayed with them you could have had 1.44 million already.

This isn't uncommon for a typical retail client to do this. Although it is impressive none the less. I don't know how what £70k is like for you, but i would be risking less. Your P&L swings are too crazy.

 

[robster970]

Bison's got a poker background - he's comfortable with when to push on and when to lay off with his bet sizes rather than adopt the 'conventional wisdom' of static risk per trade.

His choice and good on him.

 

[brettus]

Bison's got a poker background - he's comfortable with when to push on and when to lay off with his bet sizes rather than adopt the 'conventional wisdom' of static risk per trade.

His choice and good on him.

Fair play.

 

[DionysusToast]

Many great traders can make large sums of money but the blanket statement: "a great trader should be able to make millions" is ignorant.

There are so many reasons why this is the case that I would be here all day if I listed them.

.
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.
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.
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Let's presume you AVERAGE 100% per year. Most people might even turn their nose up at this (usually they are bragging about making 60% per week and trading 5 cents a point whilst averaging positions with no stop) but 100% a year is an incredible return. Most of the market wizards weren't getting anywhere near this.

Then start with a decent pot e.g. 20k that you ran up from nothing whilst doing your full time job. Then pay yourself a good yearly salary of lets say £40k to be conservative.

Let's do the math:

Year 1: £20k - £40k. (If you withdraw, you just zeroed your account. But lets cheat and say you maybe saved a buffer salary from your job so you withdraw nothing in the whole of your first year as a full time trader)

Year 2: £40k - £80k. You have to start withdrawing to live - that is after all why you trade. To make a living. Subtract £40k.

Year 3: £40k - £80k. You did it again...nice one. You earn a living from your trading. Subtract £40k...

Year 4: £40k...you see where I am going with this, yet?

And you better hope that you don't get a below average year. God forbid if you only make 90% you are really up sh*t creek. Your expenses outweigh your returns and your pot starts SHRINKING.

Is this guy a great trader? Yes .

Is this guy ever going to make millions? No.

OK - got that....

I have 11 months of back to back statements in this to show the progress from £800 - £10,000. Forgive me for keeping my cards a little close to my chest, I was once asked to provide a statement of the account I used to get a job in prop. I duly provided it and later found it was used by an applicant to the same firm. (not the cleverest thing to do but there you go)

So you can make a 1250% gain in 11 months but this cannot make you rich? Dude - I'll give you 100K to trade at that rate & you can make us BOTH rich. You trade Forex, you are NOT going to have liquidity problems at this level.

How many accounts did you start with to get that 800-10,000 statement? Just the one? Were you not gambling a bit there? You use this to show prospects but you don't want them so see Bisons 'cause it's unrealistic :whistling - you do see that makes little sense.

If so - then there is absolutely no reason this performance will not make you rich.

Anyway - as you are no longer looking to enter the prop world - why not post up an account statement? Even if someone does put it on their CV - only YOU can prove it's yours.

It would be nice to see one vendor put their $$$ where their mouth was. I have seen only one vendor do it & I have seen only 1 vendor trade live and this was with 20 contracts on the ES. Is he the only one?

 

[Black Swan]

Of course I am happy for you but the reason I asked you not to post your statements was because I just think it makes for unrealistic expectations from people that don't understand the game.

I see it the other way, a kind of Kubler-Ross *test*..