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From Something to Nothing - I defined as the prerequisite starting with under 100k, starting day trading fulltime and being successful enough to make a living from it.
Take this with a grain of salt because after all I am just a struggling trader, but it doesn't really matter what the exact settings of his (Vikings1) methods or indicators are. If you really study his charts and look at what he's …
Congratulations on your trading success then!
Not asking for your bank statements or necessarily brokerage.. or anything really. In the online trading community you have guys saying they've done it. In rare instances you will see a ninjatrader performance long or something. I think most inspirational is something like this that truly shows a trade by trade account of someone being profitable (if the chart goes up):
I'm not sure why you don't include commission costs in your chart. It is going to lead you to overtrade.
It is a phenomenon in the online trading world that a lot of us are chasing the coin of profits, and the personal success of being a consistently profitable trader, and able to do it for a living with nothing but the vast resources on the net and some books - but there really doesn't seem to be a footprint of someone who started with nothing and now makes a successful living from their trading. Probably because prop shops don't allow traders to surf the internet during trading hours because they surely have traders like this all the time. Journals are nice and allow the learning trader to see other learning traders are going through the same thing. I have not read ALL the journals so I could be wrong. I would think that something of that sorts would be as famous as the Paul Rotter interviews, or one of the Market Wizards. Or perhaps it is that even with a year of success behind the successful trader, the nature of the business has them not celebrating just yet.
Some good links and references people have shared thank you. Some of the Market Wizards definitely did it. Seems a different world pre internet trading. Hopefully we'll read that dream story some time soon.
Taking "online trading community" down to the bits of futures.io (formerly BMT) here I think there are many journals, webinars, AMA speakers,
combine travellers etc. that show openly their work with progress and obstacles. You only need to read the lines carefully.
Being a constant (over time) successful trader is written in many threads - the proof of it may be private.
Every long distance journey begins with the first step - so it is not important in the end from which account value you
are starting. Even that around 100K account you mention had to be "earned" somewhen before trading started!
I certainly would like to read answers to your question too, but I can't help but feel that from a position like you have...well, why would you really bother? Are you bored? Do you just want to make some more money?
I'm not trying to be snarky. Everybody wants more money. Especially me. But trading from a yacht a few hours a day (even 5) just doesn't seem to add up to sufficient impetus. If you know what I mean.
That was more a figure of speech. The goal is completely self sufficient day trader built up from trading ones own account from ground up.
What would motivate you? I was suggesting someone's account of their experience trading from the ground up, or of someone they knew. Like reading an inspiring story of someone who has been there and done it. More relevantly, during this time of Internet trading chat rooms and online forums, trading education marketing, and discount brokerages.
A very select few have done it with external support.. Like top step for instance.. I am assuming. Maybe one of these days we will conclude that it's not possible without a) much much money b) trading mentor. c) a big pair of..
no I am pretty sure that it's not legal. I heard a story about a guy doing the same thing. After he collected his wins he moved to other state, afraid to pick up the phone worrying it's from SEC or IRS..
I think there are a few old threads on nexusfi.com (formerly BMT) asking for "proof". A few come to mind. Loriley's very generous inspiring show of proof. And the famous Bobby threads. My, how time flies..
I,m one of those traders that are making what some would call big money from trading, $8215 gross profit last week, $7000 the week before, these are average weeks. Here are my broker statements for last week.
& yes I,m consistant only one losing day …
Hi everyone,
some bad news, after watching for a while longer, Uncle mike gave back most of his winnings for the past week.
What i noted that disturbed me was that he trading on a sim for ninjatrader and when I called him out on it, he then flashed his …
:)I have spoken to several members of this forum via telephone recently.
Most echo my exact sentiments.
Before I saw Charles trade LIVE, with my very eyes, I did not really believe that gains of 20-40 ticks on a 12 tick max stoploss was possible daytrading!
…
Myself as well as others I personally know have been dupped by the "Dream Merchants" of the trading world which includes Educators, System Vendors, Ebook Authors, Private Mentorship programs and even home spun system developers selling their wares …
Due to the new regulations on the forex USA broker market they are now forced to publish the profitablity rate of their active non management retail accounts.
more than 20% on average is profitable, the 5% rule seems to be a big …
YES!! Now we re talking. Thanks @Cloudy. So much to sift through that it needed to be pointed out. The other obvious point is that it is such an elite accomplishment to turn your dimes into thousands and do it consistently... this sort of person is less likely reading trading forums in their spare time looking for ideas or support. They are just doing it!!! Lol not blogging about it.