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Joined: 1/12/2009
Posts: 235
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So many here share PCFs and watchlists, but we hear so few comments on how fellow traders here are actually performing. So fare I up 20% for the year. Not great but not too bad considering market conditions. How about the rest of you?
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Hey traderm,
There's always a spectrum. I can tell you that some are up but most are down. That's the market. Many lose, few win. And it's cyclical. Sometimes I'm part of the few, sometimes I'm part of the many. But I look to see what performance is quarter by quarter, year after year. I've been up 20% many times, then down 10%. I've been down 30%, then up 50%. That means nothing to me. Whether I'm following my strategy matters. Whether I can improve my strategy matters. If my strategy works matters.
Right now I'm one of the many. And you have to be able to be honest about that when you are. And you have to know what that means and what to do. Winning is enjoyable and easy. You have to know what to do when you're not winning.
So, in the spirit of transparency, I am down -12% for the year.
And as far as I am concerned, sharing PCF's and discussing watchlists is fine. It doesn't make traders liars or bad people. They enjoy trading, win or lose. That's great. It's a great Zen thing to have something to wake up to and something to do. We're all here for different reasons.
I heard a story once about a guy who would join a weekly poker game and loose a couple thousand dollars...every week. I mean this guy was horrible. Bad calls. No betting strategy. Just useless. One of the other players who was good asked the guy: why do you keep coming here if you keep losing? The loser said: I'm a doctor in the ER. All week long I see people die, see them in horrible pain, see people lose the ones they love. Poker is the only way I can rest my mind and have some fun. Even if I'm bad at it.
I'm certain there's a lot of that going on in the market. And what is a market? It's where many people gather for many different reasons. But mostly to meet and chat and discuss things...and buy a few apples.
So show us some of your recent trades and discuss your strategy that has netted you that 20%. It'd be a great discussion that i'm sure many would enjoy.
David John Hall
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Registered User
Joined: 11/25/2006
Posts: 51
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QUOTE (davidjohnhall) Hey traderm,
There's always a spectrum. I can tell you that some are up but most are down. That's the market. Many lose, few win. And it's cyclical. Sometimes I'm part of the few, sometimes I'm part of the many. But I look to see what performance is quarter by quarter, year after year. I've been up 20% many times, then down 10%. I've been down 30%, then up 50%. That means nothing to me. Whether I'm following my strategy matters. Whether I can improve my strategy matters. If my strategy works matters.
Right now I'm one of the many. And you have to be able to be honest about that when you are. And you have to know what that means and what to do. Winning is enjoyable and easy. You have to know what to do when you're not winning.
So, in the spirit of transparency, I am down -12% for the year.
And as far as I am concerned, sharing PCF's and discussing watchlists is fine. It doesn't make traders liars or bad people. They enjoy trading, win or lose. That's great. It's a great Zen thing to have something to wake up to and something to do. We're all here for different reasons.
I heard a story once about a guy who would join a weekly poker game and loose a couple thousand dollars...every week. I mean this guy was horrible. Bad calls. No betting strategy. Just useless. One of the other players who was good asked the guy: why do you keep coming here if you keep losing? The loser said: I'm a doctor in the ER. All week long I see people die, see them in horrible pain, see people lose the ones they love. Poker is the only way I can rest my mind and have some fun. Even if I'm bad at it.
I'm certain there's a lot of that going on in the market. And what is a market? It's where many people gather for many different reasons. But mostly to meet and chat and discuss things...and buy a few apples.
So show us some of your recent trades and discuss your strategy that has netted you that 20%. It'd be a great discussion that i'm sure many would enjoy.
David John Hall
David,
I have read many of your posts and the information you have shared in this forum has been very helpful and balanced. I really liked the Dr. story above and how it relates to why people trade.
Regards,
Patrick
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Registered User
Joined: 2/5/2006
Posts: 1,148
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up 20%?
doesn't surprise me given all the good calls you've posted on this board.
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Thanks Patrick,
I really appreciate the kind words. It took me awhile to realize that people trade for different reasons and that there are different cycles to winning and loosing and you can be on the losing side for awhile and still not be "a loser".
Thanks again,
David John Hall
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Registered User
Joined: 6/23/2008
Posts: 38
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down7% including commision.
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Registered User
Joined: 1/12/2009
Posts: 235
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QUOTE (funnymony) up 20%?
doesn't surprise me given all the good calls you've posted on this board.
As opposed to yours? LMAO!
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Registered User
Joined: 6/15/2008
Posts: 1,356
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yup, about trippled my account this year, but then again, I only have a small account, it took me about a year (and two blown up accounts) to grow it over the darn $25k day-trader-pattern rule, which I just recently achieved. Things really started taking off, trading the weeklys.
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Registered User
Joined: 11/25/2006
Posts: 51
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QUOTE (pthegreat) yup, about tripled my account this year, but then again, I only have a small account, it took me about a year (and two blown up accounts) to grow it over the darn $25k day-trader-pattern rule, which I just recently achieved. Things really started taking off, trading the weeklys.
pthegreat: Congrats on the school of hard knocks and getting to where you are now. Your honesty about what it took to triple the monies is really cool. So many people want to talk about the wins, and typically do not talk about the losses. Disclsoure: I am FLAT for 2011.
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Joined: 5/9/2010
Posts: 144
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P just wondering? Was that this year or w/in a years time frame? Congrats!!!
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Registered User
Joined: 6/15/2008
Posts: 1,356
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Most important is to be honest to yourself, admitting your doing something wrong when you loose money. Money Management is number one. It actually feels good to stop out with a small loss, and then see the trade goes against your entry even more afterwards.
Smart people learn from their mistakes, but it takes a genius to learn from other people's mistakes. (was that an Einstein quote? not sure) well I ain't no genius, and have come a couple times close to giving up.
Jpete ; since about Nov/Dec'10 timeframe, thx. But if I look at from the point I started trading till now, I'm still down, although close to breakeven.
Being underfunded makes things worse, and having to adhere to the daytrade pattern rule, well sorry for my french, but sucks. So many times I've been sitting in a profitable trade at the close, not being able to exit, and then see my profits dissapear the next day's open, or even turn in a loss.
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Registered User
Joined: 2/21/2007
Posts: 797
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To be at least somewhat profitable, all you would have had to do is trade against the USD since Jan 1. or before. This so easy, it is unbelievable. Just enter and let it ride. Does anyone really think that DC is going to come close rectifying the value of the Dollar? Not a chance in hell. You all may as well jump on the band wagon and get to sit back and relax, watch the profits roll in. Hopefully you can make enough money betting against the Dollar before you retire. At this rate I may even vote for the big "O" this time. Then retiring "down under" may not be too bad of an idea.
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Registered User
Joined: 5/9/2010
Posts: 144
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pthegreat, Thanks for the inspiration lately. I appreciate your attitude. It's nice to meet an honest trader. I will work on my Einstein reflection. 8 months and a 300% gain, again congratulations. Stops had been my problem. Now, I won't get in with out one. As I am sure you know. You were very correct about the Day Trading rule even with options. No more than 3 trades within a 5 day rolling period.(Nothing a Daily Calendar planted on the wall won't take care of!) I did a little research on the subject with my BROKER. I plan to get a tighter trading plan down within the next few weeks. I got some new tools. So, I am looking forward to streamlining them. Also, I have a day job. So, I usually miss out on the good trades. Now, this (Market/Stock Analysis) is an everyday thing. EVERYDAY! I wondered a while back, do you look at any other indicators such as the Trin or pre-markets. Oh, for the thread. I have put about $3,000 into my trading account, and have lost it all for the most of the most part. I have been trading for a year, well since April before last. Most of my options will hit, but I had expected them to keep on going up. It has been an emotional roller coaster. So, I would end up losing. Just setting Limit Sell Orders would have my account up in the GREEN. So, I live, and LEARN. Leading (Learning) by example is the most important mind set that I have learned this year. Worden has really been a positive place for me. So, I will be around for a while. Small losses and measured gains. Respectfully, Jpete-
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Registered User
Joined: 12/2/2004
Posts: 1,775
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If a trader is below 25k he/she can skirt the pattern daytrader rule to an extent by having more than one broker, i.e. 9 daytrades within the rolling 5-business day cycle with three brokers. I used to do exactly that and was not as complicated as you might think juggling between three different brokers. The key is using an independent trading platform that integrates seamlessly more than one broker, in my case Quote Tracker which integrates several of the popular mainstream online brokers and several pro level direct access ones too.
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Joined: 5/9/2010
Posts: 144
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I like the way you think fpetry! If, there is a will. There is a WAY!
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Registered User
Joined: 6/15/2008
Posts: 1,356
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[QUOTE=fpetry]If a trader is below 25k he/she can skirt the pattern daytrader rule to an extent by having more than one broker, i.e. 9 daytrades within the rolling 5-business day cycle with three brokers/QUOTE]
I told you I ain't no genius. Now why didn't i think of that??!!?  
thx fpetry, great idea.
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Registered User
Joined: 5/1/2007
Posts: 158
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QUOTE (johnlc) To be at least somewhat profitable, all you would have had to do is trade against the USD since Jan 1. or before. This so easy, it is unbelievable. Just enter and let it ride. Does anyone really think that DC is going to come close rectifying the value of the Dollar? Not a chance in hell. You all may as well jump on the band wagon and get to sit back and relax, watch the profits roll in. Hopefully you can make enough money betting against the Dollar before you retire. At this rate I may even vote for the big "O" this time. Then retiring "down under" may not be too bad of an idea.
Dollar vs. euro? From here in I'd take the dollar. And at some point the yen will collapse, as retirees need cash and cash in their yen bonds yielding less than Treasuries. Swiss france, loonie, and Aus$ will hold value. Dollar vs Gold, Silver, oil, DBA? Longer term, definitely commodities.
I've lost more than half my trading account at least five times, doubled it at least four. I finally know enough to break even; it has been a long education. Biggest thing for me was portfolio management.
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Joined: 2/21/2007
Posts: 797
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tl: I really like trading the swissie, and the aussie against the USD. TRENDS Relatively stable, 3 day charts and pivot points work quite well. Make more money this way, than trying to trade stocks. Went more to hi dividend stocks and holding for longer term.
With forex just keep leverage to minimum and risk low. Stay in the ballgame.
No doubt about it the FED scares the hell out me.
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Registered User
Joined: 1/12/2009
Posts: 235
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Congratulations to you John on your successful venture into the Forex markets. At least you have found what works for you. I just don't know how you handle the volatility.
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Registered User
Joined: 2/21/2007
Posts: 797
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Use 3 day charts for research, daily for entry and exit , set stops below (or above) what looks where it should be set. Don't take as many lots to keep risk low. Allow the trend to work. Be aware of each country's any monthly report. Can anyone actually see the USD turning around? I truly wish it would, this is going to really hurt this time. I wish that there was a solution to DC screwing up our economy.
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Registered User
Joined: 2/21/2007
Posts: 797
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T 30: A well known fact, can't count on anything while trading. Just had my stop hit AUD/USD yesterday because of DC screwing around with our money. It was a great trend then the geniuses stepped in to help out. Anyone want to invite these guys to a Saturday afternoon barbecue? Just goes to show anything can happen. But as all the "experts" say my system did not fail, circumstances intervened for which we have no control.
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