[sicktrader]

There seem to be a number of helpful people on this forum, something you don't see everywhere. To make a long story short, I decided to start a journal here at TL, though I probably won't enter a trade until sometime early Tuesday morning. I am sure that some have known my methods from across the street, others have not. This will be an eye opener on money management for many. For, me, it will give me something to do in the middle of the night while I am trading.

I will turn $1,000 into $1,000,000 in 20 weeks. Actually I should get it done in 10-15 weeks, but I'll give myself some extra time. I believe that across the street I used the S&P, here I will do currencies. Nonetheless I hope to show that it is not the system that brings profits, but money management. I have done this many times in real life, a few times on trading and gambling forums. I do not reach my goal within the time frame every time, but certainly the majority of times.

I will not give away my exact system, but the system is not really the point. Many of you have systems that are more profitable that this one, which should help you in the long run.

I hope this journal will be helpful, and if not, then it should certainly be entertaining. I will trade the currencies based on news events, and will trade most currencies. Unfortunately most of my trades will be between 8:00 pm and 10:00 am EST. All trades will be called live.

Let's have fun.

[boru]

Looking forward to your thread sicktrader I know money management is one area I could use some help in Bo

[MidKnight]

Looking forward to it. Money management and trade management is where nearly all my effort goes these days....

[sicktrader]

Thanks. Not a big deal but I just looked at my margins and I have $900 for the Euro and Yen, so I'll start with somewhere around $1,250 to sustain a loser or two. I will post up more cash if needed in the event that I start off with three losers in a row, but it won't delay the goal.

[thalestrader]

How's that million coming along?

Best Wishes,

Thales

[sicktrader]

Ha. Decided not to do it this week. Too bad though, was a better than average week.

[thalestrader]

This is the fifth or sixth time you've threatened to wow the world with your MM prowess (though this is the first time here at TL). If you're going to do it, let's do it.

I have a proposal: I have a little play account I use when I am trying out a new instrument or otherwise playing around (My friends and I call such accounts our "sandboxes." It has $1100-$1200 or so in it (I get a statement every day but I haven't used the account in a while, so I reflexively delete the daily statements and I am unsure of the exact balance.) At any rate, it is set up to trade two lots currently. If you're going to trade, let me know, and I'll race to you a million. Here's how we do it:

1) I don't care about real time calls - just post a copy of our daily equity runs with our names and identifying numbers painted out. I get the run from that particular account every AM, so I'll post it in the morning to show trades, entries, commission & fees, pnl, and equity balance as of the close of business the day before. Your post must show entries, exits, commissions, fees, etc. as well as closed equity.

2) If one of us doesn't trade on a particular day, he (or she, if others choose to join in), must still post the equity run showing no trades. Even if one of us takes a week off, the equity run showing matching equity from close of last trades must be posted on a resumption of trading.

3) If it is known that you will be unable to trade, then that should be posted in the thread with an expected return date. For example, it is highly likely that I will not be trading at all the first week of May. If that does turn out to be the case, I will post that here. The race doesn't stop just because I am not trading or you are not trading on a particular day. It just prevents one of us from dropping out without giving the other the courtesy of a public notice.

4) Trade any instrument we wish. I'll trade the ES and 6E, though I will reserve the right to trade 6B and 6J as well. You can trade anything you'd like.

4) This race is open to anyone here at TL so long as one abides by the above rules concerning posting of trades/equity. This must be done with a small starting capital. Let's say a capital of 3K or less. We are judged not by % gain but by nominal $$'s, so starting capital should be 1-3K.

I have to be in NYC on Monday, so I will start trading this account on Tuesday. Tuesday morning, if you are in, we each post a screen shot showing our starting equity. I'll trade the ES and 6E, though I will reserve the right to trade 6B and 6J as well. As I mentioned, you can trade anything you like.

Furthermore, as I have a slightly better track record of maintaining a thread, so if you decide to take up the race, I will start a new thread Monday evening with the ground rules spelled out in post #1. We should debate those rules here in this thread over the coming days if you find it necessary. On Tuesday morning, anyone who is in the race must post his or her equity run prior to 9:30 AM EDT in that thread.


So what do you say, are you in, or are you all talk?

Anyone else interested in participating, raise your hand by letting us know here in this thread. Remember, you must be trading a real, live money account with a starting equity of 3K or less.

Best Wishes,

Thales

[Cory2679]

I can't wait to see this unfold!