Performance Level Of An Exceptional Trader

This is a discussion on Performance Level Of An Exceptional Trader within the General Trading Chat forums, part of the Reception category; Originally Posted by BeginnerJoe Exactly how much is 500 points worth then ? Well that i don't know, but i ...

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Old Jul 7, 2011, 5:04pm   #49
 
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Re: Performance Level Of An Exceptional Trader

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Exactly how much is 500 points worth then ?
Well that i don't know, but i assume its probably a lot based on the little that i do know
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Old Jul 7, 2011, 5:06pm   #50
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Re: Performance Level Of An Exceptional Trader

I remember during the internet boom everyone I knew had made lots of money from tec stocks. They all belived they were great traders . Then..BANG!! it all went in a flash. WHat the hell happened?

The point is during that phase evryone wasmaking money because the markets just kept going up and up. Some got out with profits others gave it all back.

Would anyone of them who banked tens of thousands before the crash be called exceptional? I doubt it. What about all the traders here who make great returns during a trend only to give most of it back during the range ? They may have ten winning trades and two losers that take it all away.

Only consistency with your results will show your performance level. Consistency will demonstrate that you are fully aware,and in control of what you are doing.

Its always the ones who are in control and fully aware that perform at a higher level. Self mastery in some form or other is a trait that is visible in all high peroformers.
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Old Jul 7, 2011, 5:08pm   #51
 
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Re: Performance Level Of An Exceptional Trader

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I remember during the internet boom everyone I knew had made lots of money from tec stocks. They all belived they were great traders . Then..BANG!! it all went in a flash. WHat the hell happened?

The point is during that phase evryone wasmaking money because the markets just kept going up and up. Some got out with profits others gave it all back.
I remember hearing a story about a normal guy who turned of his 30k life savings in to 2 mil in the .Com boom,
Only to loose all of it when the bubble popped and then had to get a normal job
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Old Jul 7, 2011, 5:10pm   #52
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Re: Performance Level Of An Exceptional Trader

today I have made 0.687549 ticks per lot.
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Old Jul 7, 2011, 5:13pm   #53
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Re: Performance Level Of An Exceptional Trader

Will the same thing happen with Gold? I know a few people who have made a bit of money in Gold and they're always saying "In a couple years I'll be able to buy a house without a mortgage" and all that as if they are expert traders/investors. Will it crash at some point in the future?
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Old Jul 7, 2011, 5:22pm   #54
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Re: Performance Level Of An Exceptional Trader

I hope so, purely because I work hard to keep the money I have yet other people start talking about buying houses with all their "hard-earned" profits!

I guess it's the old cliche... anyone can make money, it's keeping it that's hard to do.
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Old Jul 7, 2011, 5:25pm   #55
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Re: Performance Level Of An Exceptional Trader

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I've just seen something that was gob smacking, a day trader take 500 points today

The individual is in fact a member of this site but thats all i'm allowed to say
And the lot size was?
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Old Jul 7, 2011, 8:02pm   #56
 
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Re: Performance Level Of An Exceptional Trader

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100% increase on a good week is totally possible.
As an example, I am up +27% right now with 7 positions open, risking 1% on each position and the week is still going. If I upped each position to risk 3% per trade, I could easily clear +100%.
My risk for the week right now is 7%, if I upped my risk to 21%, it could be to much, but the way I see it, each position is independent.
Still working out the best parameters to trade my system.
To answer your question, anything is possible, I don't put any limits on what is possible.

If one knows exactly why the market is moving, I think on could risk one trade at 1% risk and return 25%^^
Why not?
Well, currently up only +15% on the week. Dropped about -3% on a few that went against me, the open positions receded a little.
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