College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Originally Posted by Masquerade 50%/month every month is a ridiculous target. See how many pros/people on the net you find ...

View Poll Results: How close to my goal of $2,000,000 do you think I will get?
You think I will blow the account and my $100 will be lost. 79 58.52%
You think I will somewhat earn a profit $200-$1,500. 17 12.59%
You think I will get a pretty good return but not close to $2,000,000. 27 20.00%
You think I will get way more then $2,000,000. 12 8.89%
Voters: 135. You may not vote on this poll

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Old Sep 22, 2011, 4:14pm   #345
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by Masquerade View Post
50%/month every month is a ridiculous target. See how many pros/people on the net you find doing that. It's going to end in tears at some point or another along the way. Another big loss will be around the corner at some point. But on the bright side if you lose 60% of a $1m account it's not so bad. You just have to hope that you can dodge the loss and know when to call it quits. If you can do 50%/month every month go get a job with a prop desk at an investment bank and they'll happily take you if there's consistency.
That's the goal for the average. I'd be happy with 30%. Some months are more than 50% but around that is good for me. Yes, that is the plan for every month.
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Old Sep 22, 2011, 4:45pm   #346
 
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Re: College Fund Challenge

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Originally Posted by tkbieber View Post

It isn't gambling as much as calculated risk where the odds are with me. However, I will only increase the risk for just a few trades to regain the loss and then lower it again. And, while everything is considered "risky" the chance of having 2 bad trades in a row, well is next to nothing. Just my opinion, of course.
Oh dear.

This thread is a car crash waiting to happen.

It's cringe-worthy what you've said here. All of it is wrong you will learn it the hard way.

Thinking you can't get 2 bad trades in a row is hubris. Raising your stakes to make back a loss is stupidity.
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Old Sep 22, 2011, 4:50pm   #347
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by Hoggums View Post
Oh dear.

This thread is a car crash waiting to happen.

It's cringe-worthy what you've said here. All of it is wrong you will learn it the hard way.

Thinking you can't get 2 bad trades in a row is hubris. Raising your stakes to make back a loss is stupidity.
Thanks for the kind words.
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Old Sep 22, 2011, 5:29pm   #348
 
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Joined Jul 2008
Re: College Fund Challenge

Quote:
Originally Posted by Hoggums View Post
Thinking you can't get 2 bad trades in a row is hubris. Raising your stakes to make back a loss is stupidity.
It could be the case, that he's done detailed statistical analysis over a statistically significant sample, and found that it's more likely to have a win after a loss, there could even be logical reasons for this occurring. This would justify the approach somewhat, I somehow doubt this is the case though.
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Old Sep 22, 2011, 5:45pm   #349
mjj
Joined Mar 2005
Re: College Fund Challenge

Just to change the topic...have any of you out there had any success with weekend gap trading?
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Old Sep 22, 2011, 6:24pm   #350
Joined Jun 2011
Re: College Fund Challenge

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Originally Posted by Hoggums View Post
It's cringe-worthy what you've said here. All of it is wrong you will learn it the hard way.
Actually he already learned it in the past, and fully aware of the risks. This is why he's risking a relatively small amount of his own money. The things he's saying are for the benefit of the investors, I mean friends and families, who don't care if it's right or wrong as long as it sounds good.
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Old Sep 22, 2011, 6:34pm   #351
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by Hotch View Post
It could be the case, that he's done detailed statistical analysis over a statistically significant sample, and found that it's more likely to have a win after a loss, there could even be logical reasons for this occurring. This would justify the approach somewhat, I somehow doubt this is the case though.
Actually, you are correct. That is why I will be doing it. It would be crazy not to run the tests and study the risk.
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Old Sep 22, 2011, 6:35pm   #352
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Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by BeginnerJoe View Post
Actually he already learned it in the past, and fully aware of the risks. This is why he's risking a relatively small amount of his own money. The things he's saying are for the benefit of the investors, I mean friends and families, who don't care if it's right or wrong as long as it sounds good.
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