sicktrader

Thales, Just a thought, and I don't really care either way. But, with a few dropouts and a bunch more entering the race, perhaps we could make the race 25-30 weeks or so. Yes, I'll admit that I have been slow out of the gate, but that is not my reason. Everyone here is under 3k in equity, so let the new kids have a shot. This thread will really get going when people are trading more than a single contract, should be fun. Anyway, I'm cool either way.

Welcome and good luck. Been pretty slow around here lately. Have a good week.

I got into a trade that upon second look I should not have been in, so I quickly go out at even. Just lost my $6.42 comm.

Here is my statement for yesterday. A good day, but a slow week. Only two trades thus far, and only one more possible.

Followed that AUS with a 28 point EUR win. Done until the AM. Good Luck.

And how appropriate. With my 150th post, and now a certified "Premium Member", I would just like to say...... Winner, Winner, Chicken Dinner.

Here is another live call. In long on the AUS at .8933. Small trade, target is at 8947, stop is at 8918.

I enjoy the race aspect, but for me I will keep on going to a mil no matter if the race ends or not. Over the years I have seen numerous threads that one needs 5K, 20K, or 50K to start trading. I would like myself and others to prove that false. I am posted as starting the Race at $941, but the week before I only had about $620 in this account, so perhaps it could be an event that helps others to think a bit differently. At the same time, I could blow this out and be forced to posting to this site through a proxy.

................................................................

I don’t want to belabor this point, but I would really encourage those who go outside of their system to teach a friend and trade the same account. Not just any friend though, one that will curse you up and down each time you screw up. For instance, I slept through a trade today, and knew that at about 9:00 I was going to get a nasty phone call. Accidents will still happen, but deliberate mistakes will be greatly minimized. Anyway, I won't bring it up any more.

Alarm didn't go off and I slept through my only trade of the day. Yep, it would have been a winner. As a result, no statement today and none on Wednesday.

No trades for me today, as expected. I should have a trade during the night tonight. However, starting Wednesday things should get really busy for the rest of the week.

Losers happen to everyone, though it didn't seem like you were one to go outside of your system. You'll get it back. I must say that there is one very important point that keeps me within my system which I have not spoken about. Probably the most important part of my whole trading plan. I really don't want to get into in now since I am tired, but I'll touch on it quick. As I have said before I got into trading from another person on a gambling forum. Prior to that though, for years I would focus much of my gambling effort on interactive gambling. Interactive gambling was started by traders, and is just like trading in every form. At the end of the game all winning contracts are worth $100, losers obviously $0. At the beginning of the event, in most cases you can buy a contract for around $40 to $60 depending on who is playing. The contract value changes constantly, after every pitch, play, shot, whatever. So you can decide to buy during the game if there is a point where you think you are getting good value. About 10 years or so, I developed a few systems (not automated) that completely depended on price movement. I never watched or listen to a game while I was in play. It would be a success for a while, then I would do something outside of my system and lose big, then follow that with a few more non-system losers. I taught a few friends how to do it, and they would eventually get greedy like me and screw up. What happened next is what brought me to profitability. I ponied up 2 grand of my own cash, and invited two other friends to trade that account with me. We would share all profits. My theory behind it was that neither I nor my friends would trade outside the system with money that is not theirs. It worked. Sure, a few entries/exits were outside the system, but then you had two other guys telling you what an ass your were and wasting money, so the outside the system plays soon dwindled. The sportsbook went from an A+ rated book to a slow play by the time we were done. Not all our doing I'm sure, but we didn't help matters. I learned a valuable point from that experience, so much so that even these days my main trading account is operated as a team. Well, just one other friend, but that is all I need since we both are a real pain in the ass when the other wastes money. I realized long ago, after years of making bets outside of profitable system, that I would never change and needed to find a solution. Working as a team solved my problem, maybe it could help a few others out there as well.

Yes, good luck this week to everyone. I consider myself lucky this past week. For me, it all came down to my last trade which I won 50 pts on the Euro and put me positive for the week. However, for that trade my system called for a very large stop, and if hit, I would be down quite large. I was already down before entering that trade, and then the trade itself went the other way by 37 points before rallying. An extremely stress-filled week. I have no trades until Tuesday morning, so my statement will remain the same. Again, best of luck this week.

Thales, I would think that most here have other obligations. If you started in trading and made money, then you probably have invested in other areas. Or, like myself, you had other interests first and then embarked on the trading aspect. While I have a few systems, trading the new is by far my favorite. I am at the computer ten minutes or so before a possible trade, and either a have a set-up or I do not. If not, I go back to bed, if so then then I set my brackets, enter the trade, then go back to bed. Really not much to it. My other systems I need to constantly watch, which I can't, and I will miss some. In regard to your money management rule of locking in $200 winners, I can go either way on that, particularly since you have your max loss set. Otherwise, the numbers won't work out as I am sure you know. I have more to say here but, as I have said before, after 9:00 I really shouldn't post. Good Luck.

Thales, If your first trade is a winner, do you quit for the day? I haven't went back and reread the threads, but based on the verbage from the book yesterday, and my fuzzy memory, I think you may. Please elaborate.

Nice work to all. Seems to be a nice group of profitable traders. At this point I feel that I am a week behind, as I was expecting to reach my 2,600 goal this past week. The Greece situation has limited my set-ups, and I don't expect that to change. It is my choice to stick with my current system, and I will, so there won't be any excuses. In the long run everything should even out, so I am not very worried at this point. Anything can happen in 18 weeks. Good luck to all.

Thanks. I have never read a book about trading, but when I do, that will be the one. Listened to many favorable comments about that book.

Thales, Are you ever going to post a losing day? Nice trading.

Here is my statement for yesterday. This morning was bad. Had my stop set wrong, off by four points. Just hit my stop, then went on to be a fantasy winner, instead I lost 27. Then got in the CAD, and that was a 12 pt. loser. Just ended the day with a 50 pt. winner on the Euro, which was much needed. Up around 360 for the week, not where I hoped to be, but not bad.

Quite a wild ride for me. Won 50pts on the AUS, lost 27 on the Euro, then won 30 on the Euro. While I trade all of my set-ups, these days I pray that if it's on the Euro I am going short.

I took it on the chin yesterday, but back positive for the week after a good morning today.

Yes, I am. Hoping for some positive results.

Moved my stop to .9065.

Ok, in short on the aus at 9017. Going for 40 - 50 points. At the current time my stop is at 9060, though I hope that will be changed.