Aliassmith Beats a "Dead Horse"

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aliassmith
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sat Apr 24, 2021 5:41 pm

dojirock wrote:Going along with the 1 or 2 percent per week discussion. Ponder on this... trading with no commissions? Equities....... commission free... I started a equity account through Tradestation in January. My only limitation is the 3 day trade rule until the account reaches 25k, so it limits or prevents me from over trading... slow and steady, keeping the pace will have its rewards. Master the basics... compartmentalize your losses (takes practice), meaning don't carry that loss mentally into your next trade. On the opposite side of the spectrum when you win, don't change a thing, don't think you have become invincible, the market will win during those times. I'm posting these historical trades to show the moves are not huge. I'm only buying a few shares. As the account grows the ONLY THING I WILL CHANGE IN MY TRADING is the number of shares. 24 months of discipline will get me to the finish line on this strat.
Screenshot 2021-04-24 111926.jpg

doji
ps.. Mo, I know you its a matter of time till you drop in... SAY HELLO!!


Thanks for the info.

I have a portfolio with many things in there for long term.

I have recently considered trading stocks for cashflow, but I like currency and cfd too much right now using OPM.

Still not sure yet and I don't need to decide right now.

BTW, was that account setup to show clients how to start a self traded IRA?
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Re: Aliassmith Beats a "Dead Horse"

Postby dojirock » Sat Apr 24, 2021 7:56 pm

no its a personal account. I still have 2 licenses test to take before im fully licensed. As a financial advisor realm, its a completely different world. Long term, conservative compared to what we do here at Kreslik. What got me started on the equities bug was the comparison that can be made vs indices. Commissions free was the big lure for me. I know what I pay a year in commissions to trade futures.. that annual amount could help alot of people. To me the equities is not like scalping in my mind, its long term, lol even though in reality it boarders scalping and swing trading as you can see by the dates of the trades.
One last note, a self traded ROTH is my end goal. No commissions, no taxes! win win.

doji
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sat Apr 24, 2021 7:58 pm

dojirock wrote:Best part COMMISSION FREE!
doji
:mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen: :mrgreen:


Just to follow up on what Doji is putting out there.

If you have 11 years until retirement you can build a $1 million nest egg in the stock market.

Im not sure on the exact technicals, I'm not a licensed professional.

Lets say you setup an IRA you trade yourself.
Also assuming you contribute $4000 a year to the account.
Also assuming you avg. about 1% a week (50% a year).
You can compound that to about $1 million.

This is done in the US in a government regulated process and its something you do yourself (except you should get legal/tax/professional advice on setting everything up)

Once again bucking the gurus saying 1% a week isn't good.
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sat Apr 24, 2021 10:30 pm

Getting back to the12 months to making a doctor's salary.

I think we are at $320,000 account size.
Back to making that 1% per week
10 more weeks roll by
Your account jumps to $640,000
You make $16,000

10 more weeks your account jumps to $1,280,000
You make $32,000

Now we are around 1 year point
"Your" trading account is now $640k or $1.28 million
Making 50% a year would be $160k to $320k
Bad news , Good news
Your income has just capped out
You can invest all that income in personal accounts.
The sky is the limit when you snowball it.
I suggest you do that last part so you dont have all your eggs in one basket.

The End!

Do it don't do it, it would of been nice to have this opportunity years ago. People have it so easy these days.
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sat Apr 24, 2021 11:16 pm

dojirock wrote:no its a personal account. I still have 2 licenses test to take before im fully licensed. As a financial advisor realm, its a completely different world. Long term, conservative compared to what we do here at Kreslik. What got me started on the equities bug was the comparison that can be made vs indices. Commissions free was the big lure for me. I know what I pay a year in commissions to trade futures.. that annual amount could help alot of people. To me the equities is not like scalping in my mind, its long term, lol even though in reality it boarders scalping and swing trading as you can see by the dates of the trades.
One last note, a self traded ROTH is my end goal. No commissions, no taxes! win win.

doji


Im curious why you don't have it as an IRA already? Well for one I guess you can't short in an IRA. The thing about IRA is they have max contribution amounts. I believe its $6000 per year so every year you don't contribute you lose "time"

With your trading you can have a 7 figure nest egg in 10 years.
(I already have the wealth account at those levels I will need to convert my assets into a trust at some point to put a few layers of legal protection in there.)
If you aren't ready to retire keep going
If you are convert it to cashflow.

$700k a year is probably enough for most people.
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 2:58 am

cheunt3 wrote:
prochargedmopar wrote:
aliassmith wrote:
If you only look at your post you will know why you fail. Many people have told you. You always pull the ego, the victim, the woe is me, card.

I've seen it for the last 14 years or what ever. The guy is/was luca I believe. He had the same woe is me mentality.

I bet a guy a few years back, that if he surrendered to my teachings he can make money trading currencies. All he did was what I told him nothing more nothing less.

I think you have an internal fear of being successful or failure and you continue to deflect from doing the positive actions.


There is definitely some self sabotage going on.
Yup, I'm afraid to be wrong, even if there is NO money on the line.

Also, I don't need to make a penny and really do enjoy my current lifestyle. :D
Another dad gum 2 week "vacation" trip coming up Tue.

I could use a few more race car parts or some turbo truck upgrades but I already have so many new parts stacked up in the garage that are not being put to use it's rather ridiculous. :mrgreen:

Something that made great sense I read recently was Buffet's 25:5 rule.
Your 50/reset rule I'm sure will work well too. :smt023

In the meantime let me go back to this: ](*,)


Can I suggest that you listen to what Alias said which is to practise being wrong. If you're afraid to be wrong then the problem is right there in your face, don't run from being wrong, accept wrong as part of the game, just embrace it. What helped me from trying to be perfect was a journo, jot down, before, in the middle of, and after a trade. I think I wrote down about 130 entries before it really took it in my feelings. Include everything from racing heart, anger, frustration, blushes etc... helped me a lot.

I am a doer which means I try to solve problems on the fly probably because I was constantly moving in a fast paced restaurant from when I was eight helping my dad in the kitchen. It's very satisfying completing small tasks like boxing things up, cooking the food, prepping food, banter with the customers to keep them happy and when I first started trading I was fascinated with scalping like ES, Doji, Alias, Tro, because I thought it suited my 'doing' personality. After a decade of trying it and trying to copy them, I wasn't profitable at all.

Now, I am stacking (accumulation and distribution) like a madman with MO's eights idea. You make money by taking size from a long term extreme and hold on a large chart. But get this, you have 7 trades to get it right and then you're out. 7 losses with the same starting risk. How unlucky can you be be have 7 losses in a row, it's almost impossible, right?

This method has made me sit my arse down and plan and stop doing and going off tangent. I stacked last week on the m30 and h4 and this week sat on my hands for the last four days not doing anything apart from glancing at my position based on a daily. I am so relax it pretty ridiculous compared to before.

Point I am making is trying to imitate another trader is a waste of time. I see the dazzle, grabbing a few pips here and there, consistently, daily, flashy, looks easy but you need to do it day in and day out for it to pay out well like they are doing it. And they are. BUT, imo it is not for everyone. Maybe it isn't for you Pro?


Would you be willing to do a trade walkthru?
It doesn't have to be live. I would like to see how you pick a bias trigger in, exit criteria. How you add.

Looks like other people view the posts so it could help someone and I'm always willing to see what others do. Its my obsession.
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Re: Aliassmith Beats a "Dead Horse"

Postby prochargedmopar » Sun Apr 25, 2021 4:04 am

cheunt3 wrote:
prochargedmopar wrote:
aliassmith wrote:
If you only look at your post you will know why you fail. Many people have told you. You always pull the ego, the victim, the woe is me, card.

I've seen it for the last 14 years or what ever. The guy is/was luca I believe. He had the same woe is me mentality.

I bet a guy a few years back, that if he surrendered to my teachings he can make money trading currencies. All he did was what I told him nothing more nothing less.

I think you have an internal fear of being successful or failure and you continue to deflect from doing the positive actions.


There is definitely some self sabotage going on.
Yup, I'm afraid to be wrong, even if there is NO money on the line.

Also, I don't need to make a penny and really do enjoy my current lifestyle. :D
Another dad gum 2 week "vacation" trip coming up Tue.

I could use a few more race car parts or some turbo truck upgrades but I already have so many new parts stacked up in the garage that are not being put to use it's rather ridiculous. :mrgreen:

Something that made great sense I read recently was Buffet's 25:5 rule.
Your 50/reset rule I'm sure will work well too. :smt023

In the meantime let me go back to this: ](*,)


Can I suggest that you listen to what Alias said which is to practise being wrong. If you're afraid to be wrong then the problem is right there in your face, don't run from being wrong, accept wrong as part of the game, just embrace it. What helped me from trying to be perfect was a journo, jot down, before, in the middle of, and after a trade. I think I wrote down about 130 entries before it really took it in my feelings. Include everything from racing heart, anger, frustration, blushes etc... helped me a lot.

I am a doer which means I try to solve problems on the fly probably because I was constantly moving in a fast paced restaurant from when I was eight helping my dad in the kitchen. It's very satisfying completing small tasks like boxing things up, cooking the food, prepping food, banter with the customers to keep them happy and when I first started trading I was fascinated with scalping like ES, Doji, Alias, Tro, because I thought it suited my 'doing' personality. After a decade of trying it and trying to copy them, I wasn't profitable at all.

Now, I am stacking (accumulation and distribution) like a madman with MO's eights idea. You make money by taking size from a long term extreme and hold on a large chart. But get this, you have 7 trades to get it right and then you're out. 7 losses with the same starting risk. How unlucky can you be be have 7 losses in a row, it's almost impossible, right?

This method has made me sit my arse down and plan and stop doing and going off tangent. I stacked last week on the m30 and h4 and this week sat on my hands for the last four days not doing anything apart from glancing at my position based on a daily. I am so relax it pretty ridiculous compared to before.

Point I am making is trying to imitate another trader is a waste of time. I see the dazzle, grabbing a few pips here and there, consistently, daily, flashy, looks easy but you need to do it day in and day out for it to pay out well like they are doing it. And they are. BUT, imo it is not for everyone. Maybe it isn't for you Pro?


Good reminder.
When to exit is when I'm "wrong" as the market is always right.
Youi been around a while, glad to see your draining banks' now. :smt023
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Re: Aliassmith Beats a "Dead Horse"

Postby prochargedmopar » Sun Apr 25, 2021 4:05 am

Though MO says to EXIT at a PERCENTAGE.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Sun Apr 25, 2021 4:46 am

prochargedmopar wrote:Though MO says to EXIT at a PERCENTAGE.


He does and his way isn't the only way.

Maybe cheunt3 does that
Maybe he targets A liquidity area
Maybe he keeps adding until price action does something

He just said in his post that he isn't trying to imitate other traders, so he could be doing almost anything.
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Re: Aliassmith Beats a "Dead Horse"

Postby cheunt3 » Sun Apr 25, 2021 8:40 am

prochargedmopar wrote:
cheunt3 wrote:
prochargedmopar wrote:
There is definitely some self sabotage going on.
Yup, I'm afraid to be wrong, even if there is NO money on the line.

Also, I don't need to make a penny and really do enjoy my current lifestyle. :D
Another dad gum 2 week "vacation" trip coming up Tue.

I could use a few more race car parts or some turbo truck upgrades but I already have so many new parts stacked up in the garage that are not being put to use it's rather ridiculous. :mrgreen:

Something that made great sense I read recently was Buffet's 25:5 rule.
Your 50/reset rule I'm sure will work well too. :smt023

In the meantime let me go back to this: ](*,)


Can I suggest that you listen to what Alias said which is to practise being wrong. If you're afraid to be wrong then the problem is right there in your face, don't run from being wrong, accept wrong as part of the game, just embrace it. What helped me from trying to be perfect was a journo, jot down, before, in the middle of, and after a trade. I think I wrote down about 130 entries before it really took it in my feelings. Include everything from racing heart, anger, frustration, blushes etc... helped me a lot.

I am a doer which means I try to solve problems on the fly probably because I was constantly moving in a fast paced restaurant from when I was eight helping my dad in the kitchen. It's very satisfying completing small tasks like boxing things up, cooking the food, prepping food, banter with the customers to keep them happy and when I first started trading I was fascinated with scalping like ES, Doji, Alias, Tro, because I thought it suited my 'doing' personality. After a decade of trying it and trying to copy them, I wasn't profitable at all.

Now, I am stacking (accumulation and distribution) like a madman with MO's eights idea. You make money by taking size from a long term extreme and hold on a large chart. But get this, you have 7 trades to get it right and then you're out. 7 losses with the same starting risk. How unlucky can you be be have 7 losses in a row, it's almost impossible, right?

This method has made me sit my arse down and plan and stop doing and going off tangent. I stacked last week on the m30 and h4 and this week sat on my hands for the last four days not doing anything apart from glancing at my position based on a daily. I am so relax it pretty ridiculous compared to before.

Point I am making is trying to imitate another trader is a waste of time. I see the dazzle, grabbing a few pips here and there, consistently, daily, flashy, looks easy but you need to do it day in and day out for it to pay out well like they are doing it. And they are. BUT, imo it is not for everyone. Maybe it isn't for you Pro?


Good reminder.
When to exit is when I'm "wrong" as the market is always right.
Youi been around a while, glad to see your draining banks' now. :smt023


The problem isn't the charts or exits, the problem is fear and greed so it's really you (I am saying 'you' in general not you Pro).

I've seen much of your charts, so what your excuse for not closing at target 1, right? Because I can see lots more wins than losses if you just targetted 1.

Screw 1+:1 RR for now, just focus on reaching T1 and count it up after 50 trade like Alias has suggested if this is the path you want to continue on. And then you get why he said 1% a week is pretty good going ...... and just on 1:1 trades.

OR try eights. I'll get some charts later when I get back home.
MO "Don't try to predict what will happen next, simply aim to consistently apply your ideas."

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