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Retail Trading for a Living Milestone - "Feed my ego"/Thought sharing

Discussion in 'Trading Strategies/Systems' started by minwa, Feb 2, 2016.

  1. minwa

    minwa

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    I do agree I had a the best start (but the funny thing is it came after a long time of "failure" period..like the universe knows exactly when you are ready and gift you with resources) but that is something that both can be obtained via a prop firm for you ? Capital + mentoring. I learnt and traded on a few thousand $ saved from PT job for years too before acquiring a record to get funding. If you're confident you can do it why not prove it on a smaller account first ? If you already have..have you taken it to a prop firm ?

    Which part about the stats is confusing ? It's a cumulative total, time weighted, not a breakdown of every single time with deposits/withdraws. Simple answer for dollar amount for 2 accounts combined is just over 1m, if marked to market to AUD.
     
  2. Gringotts Bank

    Gringotts Bank

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    Pffwar! Nice.

    Anything more to say on "the universe" would be appreciated.
     
  3. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Stellar results minwa :xyxthumbs
     
    tech/a likes this.
  4. minwa

    minwa

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    https://www.youtube.com/watch?v=S0Muo5Luwx0

    Just those self help wealth psychology stuff lol.

    Thank you sir.
     
  5. Gringotts Bank

    Gringotts Bank

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    OMG, you're into weird stuff like LoA and psychology. Ewwww, I'm scared. (sarcasm)
     
  6. tech/a

    tech/a No Ordinary Duck

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    Minwa

    Am I getting this right.

    From a $300k loan 3 years ago you currently $1 mill marked to market now after paying back the $300 k
    Paid tax and lived?
     
  7. Modest

    Modest $PEPE

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    On to more serious business fellas ...

    Minwa, Custom plates on the BMW or standard issue :D
     
  8. minwa

    minwa

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    No - I did not pay back the loan. 1m aud is total profits - large chunk of it still in account, others withdrawn for expense & tax. I have 0 dependents. Loan like I said is not one lump sum from beginning..Over time a few different amounts plus many withdrawals at different time so obviously if you just take it and multiply by rate of return it does not add up. I let IB do it's job to get the time weighted return.

    Think of it as if you invest $x into a fund for a few months then you add more, $y. After more time do you multiply the return since $x invested to $x + $y ? No you don't - your $y is not in there for the whole duration. They have to be all readjusted each deposit/withdraws. Add to all that that I have 2 accounts. So if you want the maths to add up, you have unit adjust every single deposit/withdraw separately and calculate the return on those.

    Tax is private I do not wish to discuss any specifics.
     
  9. minwa

    minwa

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    DSC_0361.jpg

    Slimline. Excuse the house..I prefer my anonymity.

    Lol didn't wana bring up car as trading + flashy car just has a certain reputation attached to it :D . Long story short changed things around as I got a chance to drive it before delivery and could NOT stand the auto rev matching on down gearing in the M2. Easily solved as it's in high demand. Swapped into a used M3. It's a beast but I think still prefer something more raw, working on that perhaps. Working from home & sometimes overseas it doesn't get driven much..
     
  10. tech/a

    tech/a No Ordinary Duck

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    No it was more a wrapping my head around 3 yrs a million profit
    Paying Tax and living. In a market like we have had on 300K
    I can only echo CanOz--Stellar--No---Supa Nova
    My puny head sees 100% plus over 3 yrs year on year.

    Mind you ducks quacks don't echo!
     
  11. ThingyMajiggy

    ThingyMajiggy

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    Okay thanks, now I'm depressed lol :D :xyxthumbs
     
  12. Gringotts Bank

    Gringotts Bank

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    Think more broadly tech\a.

    x.jpg
     
  13. minwa

    minwa

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    Family members. Different accounts. 180k+ bracket not even reached first 2 years.

    Pretty sure I mentioned rent free earlier in the thread. Parents overseas - I just upkeep the house.

    Daytrading - what type of market we have not a big impact like other forms.
     
  14. ReXXar

    ReXXar

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    Congratulations on succeeding in your day trading. I first started out as day trader, was doing OK but went bust as I didn't have a stop loss and did the worst thing any trader can do - add to your losing positions. I know way too many day traders who failed (including myself) so I'm always happy to hear success stories.
     
  15. Modest

    Modest $PEPE

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    uofvNiZ.png
     
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  16. Wysiwyg

    Wysiwyg Everyone wants money

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    The play button doesn't work?
     
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  17. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    :D:D:D
    ROTFLMAO
     
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  18. scholesy

    scholesy

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    What a great thread! Thank you minwa for sharing, very inspirational!

    100% agree about markets hunt for liquidity (stops,limit orders) to identiy fair value areas to trade (high volume areas/VPOC). There is no such manipulation as no one entity can control big markets like FX and ES.

    I had a similar setup that I tried on Dax but couldn't work it successfully as the excursions were quite large. I would look for liquidity pockets above/below swing highs/lows, wait for a wide range bar and take a trade in the opposite direction. Maybe I should try it with the ES?

    Interesting that you mention Linda Raschke and Larry Williams. I have read some of their materials and read the book "Long-term secrets to short-term trading"...but they don't really mention anything about liquidity. Can you point me to something specific please?

    Also, please update us. Would like to see how your trading (especially in the FX space) has progressed. Cheers.
     
  19. Trendnomics

    Trendnomics

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    Minwa you blown up yet?
     
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