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i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky
rassi i dont have any systems everything i post is to teach people what to look at and to train their minds on how to see price action easier,to let them pratice stuff on sim over and over again until a light goes off and they say oh thats what he means,i look at charts 15-20 hrs per day for about 5 years and paid thousands and thousands for my school and mentored under real traders its not easy or cheap to trade i sacerficed relationships and lost friends,its a long hard lonley road and you have to decide how bad do i really want this and is there a eaiser way to make a buck...sharky
I find this thread very depressing because it almost feels like a reality check in some ways. In other words, what the heck am I thinking that I can beat the percentages?
1. not my primary income. Have never made anything that I kept.
2. Have never made $100K or even $100 at the end of a years time.
3. 6 years time, some of it part time and some full time. I can't say I've looked at charts for 15-20 hrs a day like Sharky, but I know I've spent many more hours doing so than I though I ever would.
Question: I've read the phrase "under capitalized" many times and have heard the term many times. What account size is considered to not be under capitalized?
It will depend on your trading style (scalper/intraday/swing). I'm actually briefly going over that in tomorrows webinar about trading MTF's w/trend.
But the general rule of thumb is you cannot risk more than 2% per trade. On CL, 20 ticks is $200 stop. If your trading style allows you to risk less than 20 ticks and be profitable, then your minimum account size would need to be $20,000 to trade 2 contracts on CL. And this is really an amount that is needed once you are well educated, it is not a "tuition" amount which is likely substantially higher.
I have to say that I've always thought your posts and style were pretty sound. Your method is complex for my personal tastes, but when compared with the majority of others, I would say your method makes more sense to me than most.
I know you've had a very hard time. I don't think it is due to your understanding of the market or your method. I think it is all psychological, and because of the position you are in and your environment and surroundings in life, it is very difficult to break through and overcome this challenges. Trading is hard enough without all the added complications that can make it even harder.