MightyMouse

I have made many posts regarding risk, trading results, and expectations and the responses have been similar to the responses you would get if you told a gathering of followers that there is no god. Some of the names that have been mentioned on this thread are masters at promoting themselves and have attracted large sums of money on which they made their fortunes. When you look closely they engage in gamesmanship to ensure that they have a fund that still has a high rate of return. Gamesmanship means splitting a fund into good assets and bad assets and making excuses about the fund with the bad assets. They have survived so long not because they remain as the best traders, but because they know how to promote themselves. It is all about the fees.

I think vendors should pay to advertise if they want the opportunity to host a thread and promote themselves. I would have a lot more respect for them if I knew they were paying to solicit business. However, it is MMS's site and he can run it the way he pleases.

Tangibles have been the way to hedge. The dollar has been falling steadily since the FED learned that it could influence interest rates. Since about the 1920's the USD has lost about 95% of its value. It is not a new phenomena, though its decline might be accelerating since at this point we are plainly fabricating money. But life is good for now.

When the bid is stacked on the DOM one would guess that there are many traders trying to buy at the same time. since there appears to be more buyers than sellers. One could look at it and think the market is poised to go higher. This guess could cause an unsuspecting buyer (either a weak long or a scared short) to buy via market order so as to not be left behind. Those with the large buy orders are actually trying to get buyers to jump ahead of the bid and buy right into their standing sell orders. The buy orders are almost all fakes and are really sellers who have standing sell orders and want to get filled as high as possible. Once sold and presumably ( for this example) short, then they will distribute more contracts or shares into the standing buy orders and attempt to force the weak longs who enter long to sell lower into the sellers standing buy orders. There are multiple variations of how this can unfold. you can get clues by watching the DOM and T&S. So, for example, if the bid is stacked and there are a lot of trades going off at the ask, you can expect a different reaction than if the ask is stacked and there are a lot of trades going off at the ask. You can gain good information by watching both.

4k or 5k is ok, I suppose, in certain areas of the country or planet. In the Northeast, specifically, the New York tri-state area, your family will starve at 4k or 5k a month.

Steve46, The poster posted his opinion of a topic and gave information, good or bad, on the topic. You can simply respond to what you agree with or respond with what you disagree with. You seem to have the habit of attacking the individual who posted which makes the forum an unpleasant experience for all. Even if you where an individual who has empirically shown that he is a superior trader, it does not earn you the right to bash the individual on a personal level, especially when he did not warrant it. However, you have repeatedly refused to substantiate your ability and instead choose to inflate your frail ego at the expense of others. Somehow you hold onto the ideal that you are superior. To answer a question you posed of me. No, I have never dealt with difficult children. However, I suspect that you have had the unfortunate experience of raising difficult children. I have my suspicions on how they became difficult.

In practice one will not achieve linear growth. It could very well be that someone will experience a 10 month draw down of only 10% on his account and he will then have used 40k for living expenses, bringing his funds down to 460k before considering trading PNL. So with the loss, he have an account value of 410k. It takes about 12% for him to break even and about 22% for him to end up with an account value of 500k again. 22% is a decent gain but the account doesn't reflect it. There are only a few individuals who have been able to achieve an ror of 50% for a sustained period of time. We can safely safe it is a difficult task when you consider the fact that there are, conservatively, 150 million traders world wide. The more traders, the slimmer the profit margins. It is a very basic economic principle. In this market, you are a star if you can achieve trading profits in the area of 10% or so on average per year. So, the average of the best traders would need significantly more than 500k to generate 4k a year and achieve growth.

What an amazing resemblence. Your wit is astounding.

Don't give greed a bad name. Greed has created a lot of wealth for a lot of people. Only losers are affected by greed in a negative way.

Unfortunately, trading, like any other business is difficult to project exactly how much you will make because the projection is based on market events that have not happened and may not happen. A sudden lack of or lull in volatility will create a problem with projected cash flows from trading and require you to use other funds that you had not planned on using to supplement your living expenses. So, the amount that you are going to need to generate 200 a day is not very easy to determine. You also have to consider the possibility of losing money for the year in which case you need a minimum of the 50k plus the loss pluse the capital needed to continue trading. Yes, traders do have bad years.

If they did that, liquidity would vaporize. Spreads would be HUGE to reflect the cost.

Wasn't taking credit away or trying to change them. Other things lead to one of the 4 mistakes. For example: Having a conversation with you wife before you trade could lead to mistake A, B, C, or D. So, you should refrain from speaking to her before you trade.

Trading profitably is knowing how to take more money from the market than it takes from you. It's a skill that you develop from within. It has nothing to do with charts or indicators.

In the market if there are winners and fish and stops morph you into being a fish, the trade with only a target and no stop. By your logic, you will be a winner. I do agree that I need stops to be hit for me to make money, but that doesn't stop me from mitigating risk through the use of stops.

There are 4 basic mistakes that can be made. Entering when you should not have entered. Not entering when you should have entered. Exiting when you should have stayed in. Staying in when you should have gotten out. You can make the claim, if you like, that you are not making mistakes if you are following your system to a tee. But, if you are following your system to a tee and went long because your system told you to go long when you probably should have been short or stayed out, I would strongly suggest that you made a mistake. In spite of the mistakes, you do not have to trade "mistake free" to make money. Don't foolishly mistake what I am suggesting to mean that you do not need a plan and you do not need to manage your risk. Hopefully, some of you can see the positive in this message.

Wychoff, Its a common misconception held by novices that professionals do not make mistakes. Unfortunately, for them, it leads to a life time of chasing shadows attempting to seek perfection in a game with imperfect information. It is also unfortunate when they lead others to seek the same. I suppose someone has to feed the bigger fish. I am far from arrogant enough to call myself a professional trader, but I do make money when I trade. I have demonstrated it and can demonstrate it. I do not teach, will not teach, but I will give steve46 a hand if he would like one. MM

Trading is a very inexact profession. Only an amateur who has yet developed as a trader believes that a trader can trade without mistakes. Steve46 if you would like some help in this area, P.M. me. You seem to struggle with it and I would be glad to help you.

Traders do not avoid making typical trading mistakes. Traders who make money make mistakes all the time. A new trader harps on his mistakes, a seasoned trader takes the next trade. A trader who claims to make no mistakes, doesn't really trade.

The coin toss allows you to examine certain aspects of trading in a controlled environment. No one but you is suggesting that it is a duplicate of reality.

When I say "trade" I am referring to scalping, day, or short term trading. If you trade long term, then I consider that more of a investment than trading. Day trading without stops is just an accident waiting to happen. If you wait long enough, it will happen. Or put another way; the probability of something not happening is only relevant in the short run. In the long run, everything happens.

Steve46, My statement to Browsfan was not a statement directed toward anyone specifically. I am sure that most experienced traders will agree that most or all claims made by trading educators are unsubstantiated or based on simulated results and designed to lure the inexperienced into parting with tuition money. I do commend you for taking the time to train your students and I do hope you are compensated with more than just money for the effort you will be putting into it. I suspect that by the end of your course, you too will have received quite an education as well as your students. As a business person I do understand why an educator would not want to substantiate the ugliness of trading when the sizzle sells so much better than the steak. I suppose one does what one has to do to make the sale without guaranteeing an outcome. MM

I don't remember asking what you make monthly. No individual has enough capital to trade forex without stops.

Brownsfan, Yep all you have to do is make up a bunch of unsubstantiated claims about yourself and start promoting. MM

Ingot, Is he talking about Australia? MM