Weekly income from trading - is it possible?

MRC & Co · 29 March 2008

wayneL said:
Well, I would say it's technically easier than building a bridge, being a lawyer, training racehorses, being a computer programmer, or even a qualified farrier.

This ain't rocket science.

Maybe we're saying the same thing: "technically it's very simple, but still very very difficult" seems to be an oxymoronic statement, yet so true.

So why is it difficult? It's gotta be psychological. Our reptilian brain wants to do the wrong thing, the exact opposite to what we know to do when real dollars are not involved. The ambiguity of improvement you mention is in both managing the inner reptile, and in the recognition of patterns... experience in other words, therefore psychological.

I'm not trying to belittle the actual technical knowledge required, but c'mon, I spend most of my time BSing on forums and playing computer games. When a trade comes up, a quick mental evaluation, a couple of clicks and I'm in... play computer games until an exit condition is hit.

Keep that reptile on a leash and technicals can be written up in probably 100 pages.

ha ha ha ha, AMEN!

Trembling Hand · 29 March 2008

Stuff it big mouth. I will do it with a $1000 dollar account. I will give you a measly $1000 dollars to open a crappy little CFD account and I will average $500 from it over 2 months.

Last year I did this for 3 different friends to help them get out of some Financial problems by doing the exact same thing. I give them $1000 dollars they open an account, I trade it for a couple of weeks. we split the profit.

Have a look for yourself here are the statements.

So big mouth same deal I give you the money. You double any profit to me that I make. If I loss I will give you $5000.

Trembling Hand · 29 March 2008

wait there is more.

Trembling Hand · 29 March 2008

So ROE send me your account number. I will get my lawyer to type up an agreement and we should be ready by middle of next week I would think. Just make sure you have a spare couple of thousand to give away. As the example above shows it can be done no problem $1000 to $50,000 in 7 days. I don't think I will repeat that but either way make sure your ready to pay up. $500 net a week for sure.

nizar · 29 March 2008

TH,

You continue to amaze me.
Keep up the good work son, you are one hell of a gun trader.

prawn_86 · 29 March 2008

Wow TH that is amazing. With results like that you could pretty much have any material possesion you wanted

A question for yourself or Wayne or any other full time traders.

How long did it take before you were confident in going live with the method you use?

How many years of learning/paper trading did it take until you were consistently profitable?

ithatheekret · 29 March 2008

I don't trade all the time . When I do , it can be intense and a break is very nice . But I've always found it easier to wait for the trade , sometimes no matter how much patience it takes .

The break from being active can make it hard to get back into sync though .

I must admit the latest sequence of events has narrowed down the field and there's not so much to keep up with .

I got cramps after laughing at the latest JPM comments on valuations and resource stocks though , thought they saved that sort of rhetoric for utilities

xyzedarteerf · 29 March 2008

wayneL said:
, I spend most of my time BSing on forums and playing computer games. When a trade comes up, a quick mental evaluation, a couple of clicks and I'm in... play computer games until an exit condition is hit.

Keep that reptile on a leash and technicals can be written up in probably 100 pages.

hey WayneL what kinda games do you play?? i was thinking of starting a thread regarding pc games traders play during the day or on slow days.

BentRod · 29 March 2008

Very impressive TH!

Thanks for posting!

MRC & Co · 29 March 2008

5000% in 7 days, WTF!

Was this done by scalping indices?

Trembling Hand · 29 March 2008

MRC & Co said:
5000% in 7 days, WTF!

Was this done by scalping indices?

Yep

MRC & Co · 29 March 2008

Fukcin insane!

Im in a bit of financial trouble, want to lend me a hand

ROE · 29 March 2008

Trembling Hand said:
So ROE send me your account number. I will get my lawyer to type up an agreement and we should be ready by middle of next week I would think. Just make sure you have a spare couple of thousand to give away. As the example above shows it can be done no problem $1000 to $50,000 in 7 days. I don't think I will repeat that but either way make sure your ready to pay up. $500 net a week for sure.

Sure I cant lose either way ...

If you double the money I take 15K profit, you can keep your 35K
if you cant double it.. I take my 50K plus 9%.

Draw up the contract, you have 12 months to do it

julius · 29 March 2008

...money talks, bullsh*t walks

MRC & Co · 29 March 2008

ROE is a long-term fundamental investor, TH a scalper.

Completely different strategies.

Thats all it is.

Each to his own.

Trembling Hand · 29 March 2008

ROE said:
Sure I cant lose either way ...

If you double the money I take 15K profit, you can keep your 35K
if you cant double it.. I take my 50K plus 9%.

Draw up the contract, you have 12 months to do it

no the deal is I put up the money.

You open an account in your name with that money.

If I cannot make $500 average per week for the period I will pay you $5000.

If I make more than $500 per week average you have to pay me that amount as well as me keeping the profit.

So if over 8 weeks I make anything less than $4000. You get $5000

IF I make over $4000 I keep all the profit but you MUST also match that profit. For example if I turn the account into $50,000 I keep that as well as you also paying me $50,000.

I think that's only fair. What have you got to lose ??apparently I cannot even make 2% per month I'm giving you a huge advantage I am willing to start with a mere $1000.

Come on it will be interesting to make a fool of me surely?? (and make $5000)

wayneL · 29 March 2008

Trembling Hand said:
wait there is more.

Ahahahaha! 5 Stars mate.

I'm gonna save this for future day trading doubters.

tayser · 29 March 2008

Scalpers R Us.

I'm loving the fact that someone's just validated the conclusion I came to not long ago: that scalping is a technique that is highly portable amongst tradeable instruments!

Timmy · 30 March 2008

I'm only going to speak for myself here, but I imagine my thoughts resound with others as well.

TH has done a huge favour to those wanting to achieve consistent daily or weekly success in the market by showing what is possible. Sometimes the biggest hurdle in wanting to achieve something is knowing it is even possible. By posting his results and posing the challenge TH has effectively changed the question (again, speaking for myself) from "can it be done?", to "can I do it?". That's a big difference.

Wayne, you said "I'm gonna save this for future day trading doubters." Definitely, please do.

Thank-you very muich TH, from a learner.

tayser · 30 March 2008

Wayne / TH: have either of you ever scalped any of the large volume stocks on the ASX - be it buying/selling the underlying equity or through CFDs?

Weekly income from trading - is it possible?

MRC & Co

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Weekly income from trading - is it possible?

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