I can make 3 grand a day day trading!!!

[skc]

If you feel like actually getting into the "how to" part, then we can change it back. Otherwise it can stay as it is

I think that is unfair. It is pretty clear "how" buddy does it.

I make the decision when the price gets there based on my years of experience.I look the levels to sell then decide when it gets there.If I like what I see I'll hit the bid if not I'll go back to the TV.

 

[Sdajii]

Wow, it is so hard to determine what is BS and what isn't in this thread.

Especially since I am a newbie and have no realistic idea of what is achievable at this game yet...

I am leaning towards the "everything in this thread is BS" side.

One guy probably had a lucky few days and figured he could keep it up. Early in my trading experience I was making over $1,000 per week, starting with about $5k and ending up with over $10k. It seemed too easy, and indeed, it was to good to be true. I had just been extremely lucky, and after that my profits went down (though I did continue doing pretty well). On my worst ever day I lost about $5k, on my best I have made considerably more than that, but that's not to say it's normal for me, and I'd be a stupid fool to think "Oh, I did it! I can do it again reliably! $10k per day for me from now on!"

Nunthewiser: You had me in stitches for the first few pages of this thread!

 

[Twiddle]

One guy probably had a lucky few days and figured he could keep it up. Early in my trading experience I was making over $1,000 per week, starting with about $5k and ending up with over $10k. It seemed too easy, and indeed, it was to good to be true. I had just been extremely lucky, and after that my profits went down (though I did continue doing pretty well). On my worst ever day I lost about $5k, on my best I have made considerably more than that, but that's not to say it's normal for me, and I'd be a stupid fool to think "Oh, I did it! I can do it again reliably! $10k per day for me from now on!"

Nunthewiser: You had me in stitches for the first few pages of this thread!

Cheers Sdajii, sounds sensible.

 

[Buddy Fox]

One guy probably had a lucky few days and figured he could keep it up. Early in my trading experience I was making over $1,000 per week, starting with about $5k and ending up with over $10k. It seemed too easy, and indeed, it was to good to be true. I had just been extremely lucky, and after that my profits went down (though I did continue doing pretty well). On my worst ever day I lost about $5k, on my best I have made considerably more than that, but that's not to say it's normal for me, and I'd be a stupid fool to think "Oh, I did it! I can do it again reliably! $10k per day for me from now on!"

Nunthewiser: You had me in stitches for the first few pages of this thread!

As previously stated I've been at this a long time.
I to went through all of the above.
Now come out the other end.
Traders who trade for Prop's and banks ect. what do you think they do ??
They live or die by the sword.
there are individuals out there making good dough trading.
Just because you have not had the same experience doesn't make it BS.

Stay tuned and make up your own mind...Figures don't lie.

 

[Trembling Hand]

Geeeesus guys. If you cannot make at least 3 grand a day trading after 10 years at it you are an out and out loser. Give up and move on.

Just goes to show how useless of a game it is punting on ASX stocks. You guys cannot even see the possibility let alone think you can achieve something worth the effort.

 

[Sdajii]

Geeeesus guys. If you cannot make at least 3 grand a day trading after 10 years at it you are an out and out loser. Give up and move on.

Just goes to show how useless of a game it is punting on ASX stocks. You guys cannot even see the possibility let alone think you can achieve something worth the effort.

Then in advance I invite you to my 40th birthday bash, held at my mansion, where you will be surrounded by bikini-clad servants

 

[Trembling Hand]

Then in advance I invite you to my 40th birthday bash, held at my mansion, where you will be surrounded by bikini-clad servants

Yes I understand your reply. When some are faced with their own failure sticking their head further into the sand is sadly repeating the outlook that gets them to failure in the first place. But habits are hard to break.

Carry on.

 

[lesm]

I think that is unfair. It is pretty clear "how" buddy does it.

Tend to agree with skc here. What buddy is doing is actually not rocket science. The question is, can he apply it in a reliable and consistent manner or is he full of hot air.

It is already known that he is using the one hour and five minute chart and when an over-extension or exhaustion of the move occurs at a particular price level, he then enters the trade in the opposing direction. He has further indicated, if I recall correctly, that he has a bias towards going short.

If you don't understand what he measn by an exhaustion level ask him to explain it or read up on things like pin (pinnochio) bars, which have similar characteristics.

His proposed position of going short on skippy at 0.8550 last night if that level was reached really comes down to how he determined that price level as a potential entry point.

There are some potential criteria, such as it is close to the high of the previous week, which may form a resitance level or that a previous resistance zone developed around that price level on 28th May, which is close to the previous week's high.

Also consider that he does not appear to be attempting to target large price moves, but relatively small moves, where is profit is magnified due to the numeber of contracts he is trading.

If you consider that on average every 1 pip move = $10 per contract, therefore with 30 contracts each 1 pip move = $300. Therefore, 10 pips = $3,000. A 10 pip move isn't necessarily difficult to achieve, even if you mis-time the trade, sudden reversal or a reversal before reaching the target exit price or pip level though will turn it into a losing trade if it hits the stop. This doesn't take into account the cost per trade.

What you don't know is what his stop level is or how much is at risk for every trade or how he actually determines his actual target entry levels. The direction should be obvious from where and how he targets the trade.

Let him make his calls, provide the transaction records with a date and time stamp and see how he goes.

Why he has suddenly appeared to strut his stuff,only he knows.

 

[trainspotter]

Then in advance I invite you to my 40th birthday bash, held at my mansion, where you will be surrounded by bikini-clad servants

I am on my way !

 

[lesm]

Geeeesus guys. If you cannot make at least 3 grand a day trading after 10 years at it you are an out and out loser. Give up and move on.

Just goes to show how useless of a game it is punting on ASX stocks. You guys cannot even see the possibility let alone think you can achieve something worth the effort.

Agree wholeheartedly with TH here.

This is not ASX stock trading and people really need to understand the potential for successfully trading futures, fx, et al., and get their heads out of the sand and the blinkers off.

 

[ginar]

As previously stated I've been at this a long time.
I to went through all of the above.
Now come out the other end.
Traders who trade for Prop's and banks ect. what do you think they do ??
They live or die by the sword.
there are individuals out there making good dough trading.
Just because you have not had the same experience doesn't make it BS.

Stay tuned and make up your own mind...Figures don't lie.

good on you buddy , though i sort of fail to recognise why you are telling the story here . i used to go the ego route but tall poppy syndrome will get the doubters out and weight of numbers will drown you out and wear you down . you have posted some trade results for the knocker brigade , just dont expect apologies . its rather cliquey here and if the crowd doesnt wear you down , Mr benchmark certainly will


back in the cupboard for me

 

[Twiddle]

Geeeesus guys. If you cannot make at least 3 grand a day trading after 10 years at it you are an out and out loser. Give up and move on.

Just goes to show how useless of a game it is punting on ASX stocks. You guys cannot even see the possibility let alone think you can achieve something worth the effort.

T/H I realise the following is a ridiculously intrusive question, so tell me to shove it if you want.

Can I ask how much you would expect to make on an average day? And what instruments you trade?

 

[baby_swallow]

It is not impossible for a futures daytrader to achieve such return if you have a $150K account. His having a good run with his trading strategy right now, (shorting new highs), maybe because the market has been in corrective up phase during the past few days. It would be interesting to know his average return for the year when markets goes the other way.

 

[wayneL]

Not a bad living if you think about it.

Boredom is what usually kills traders in the end.:sleeping:

This is freakin' spooky! I took exactly the same trade, but at least I did it with a decent stake, instead of the pitiful pennies Buddy trades with.

 

[Ruby]

I have been ignoring this thread all day, but now, having read it, I must say it has given me the best laugh I have had for a long time. Thanks

 

[Twiddle]

Nice one Wayne, that reminds me of my first day attempting to figure out Ninjatrader, using the free gainFX feed.

I had no idea what any of the figures meant, did a few trades, then figured out how to look at account performance... my account total: 374 billion dollars. haha

Needless to say, I don't think those trades would have possible in a real account

 

[wayneL]

Not a bad living if you think about it.

Boredom is what usually kills traders in the end.:sleeping:

BTW Buddy, I'm wondering how you scrounged two and a half grand profit when your average buy and average sell is identical @ 1.476

Maths is still required, even with photoshop. LOLOL

I believe the fantasy is officially busted.

 

[Trembling Hand]

Can I ask how much you would expect to make on an average day? And what instruments you trade?

Its not relevant. have a look at any equity futs or FX. If the average good day trader cannot take 1/3 the daily range over the good and bad days/weeks/months then they are not good. Throw in the ability to do size from 5 to 100 lots and this heading is hardly unrealistic.

(what is the kicker in the above is the average good day trader seems to be a lot less common than the average trader

It is not impossible for a futures daytrader to achieve such return.................

It would be interesting to know his average return for the year when markets goes the other way.

Yes its mostly pointless a few days results in this market. Its as close as perfect for day trading futs & fx. What counts is not how much you can make this week but how much you average over good & bad periods or even survive. What does your account look like after a month of crap trading (it will come) then running straight into a boring low daily range market. As its been pointed out a few times the stats need to be taken after 1000 RTs with both good & bad.

 

[Sdajii]

Tremble: I don't really see how I'm sticking my head in the sand, or how I'm failing. I'm doing exceptionally well so far. I started out less than two years ago with under $2k to my name and now have a portfolio of close to $100,000 (I did top that up with about $30,000 in external money along the way). But I've been extremely lucky, I got in at the right time (the happy side of 2008), and I don't expect to turn $100,000 into a few million dollars within the next two years. If I can ongoingly make 30% on my money per year I'll be thrilled. I also wouldn't now be willing to take risks quite so extreme as I was when I was only playing with a trivial (<$10,000) amount.

It is not impossible for a futures daytrader to achieve such return if you have a $150K account. His having a good run with his trading strategy right now, (shorting new highs), maybe because the market has been in corrective up phase during the past few days. It would be interesting to know his average return for the year when markets goes the other way.

It's not impossible to make 1000% per day on ASX, it's not impossible to win first division in Tattslotto every time you buy a ticket, but 'possible' doesn't always mean much in realistic terms. If there was a system that he could teach others to use in order to reliably make 2% per day on their money, someone else would have come up with it first and it would no longer work, or if he was enough of a genius to come up with such a system yet stupid enough to let others have it, they would all start using it and it wouldn't work any more, so even if he is some superhuman genius, he can't help us. Plenty of millionaires and billionaires would be utterly over the moon about the possibility of making a 2% return EVERY DAY! Most would be happy with 2% per month.

Of course, maybe I'm wrong, maybe we can all make 2% on our money every day, hey, that's not much better than quadrupling it every year. Sounds realistic, sure. And the people doing it wouldn't want to spend time doing it, would they? No, they'd rather just chat about it anonymously online. Yeah, that's what I'd do! Some faceless guy on the internet claimed it was true, that's good enough for me!

 

[ThingyMajiggy]

This is freakin' spooky! I took exactly the same trade, but at least I did it with a decent stake, instead of the pitiful pennies Buddy trades with.

Hahaha NICE. I Just had to order The Wayne Mug. I want to remember this moment. Order quick peoples, they will go fast!