prochargedmopar wrote:"InnerCircleTrader
@ICT_MHuddleston
Now the world has seen a LIVE account traded like the "Average Joe" typically does. No plan, no clue...
Well HELL! I coulda done THAT for him!
Moderator: moderators
prochargedmopar wrote:"I believe that every trader wants to know how to build wealth with their equity. They want to be rich and rich beyond their wildest dreams. I also believe traders do not consider how easily this goal can be achieved and realized when they remove the impulse to rush the process." #4 ICT
MightyOne wrote:http://www.pipsalacarte.com/blog/2011/11/22/the-inner-musings-of-innercircletrader/
Highlights:
UNCLE STAN's ADVISE:
"I hit my teens and while I was in the eleventh grade my Uncle Stan sat with me one Sunday afternoon at the kitchen table and told me? ?Michael, when you grow up and graduate? get a career learn a trade? save money and learn to trade options and futures?. I recall him saying, ?The richest people in the world trade futures and options?. That was the seed that started it all."
$17,000 PER WEEK AS IN $884,000 PER YEAR?:
"I was(<---) able to see price making tops and bottoms with consistency and trends I was able to ride these moves for seventy to eighty percent of their duration. I couldn?t believe it? what started out, as a plan to save a thousand dollars per month for an early retirement? became a seventeen thousand dollar per week adventure!"
NOTE: it is far more likely that he had explosive gains ('glory days'), over a period of weeks/months, the average of which being 17k per week.
YEAH WE KNOW THE TYPES:
"I was humored by some of the characters we see on these mediums? you know they types...
Or how about this character...?Watch me run my $500 account up to $100,000.00 in 3 months? and they blow it up all right. You never see them post again? and their thread fades away."
WHAT IS A REALLY BIG NUMBER?:
"should I make a net $20,000,000.00? I will retire. Until I reach that goal or I can no longer profitably trade I can?t see myself stopping what I enjoy doing so much."
MONEY MANAGEMENT IS THE KEY!
"I (--->)consistently made solid returns but I wasn?t where I knew I could be. There was something missing? one piece of the puzzle that eluded me. It was money management?(--->)and when I understood this principle? things went from good to ridiculous.
lazygeorge wrote:" Domino?s Pizza Manager? I knew it would provide me the schedule to trade and I wouldn?t work hard and I would have more energy to study and I did it like a maniac."
Doji is a pizza guy too He should come back and give ICT advice on how to succesfully juggle both jobs
trueblueTEX wrote:lazygeorge wrote:" Domino?s Pizza Manager? I knew it would provide me the schedule to trade and I wouldn?t work hard and I would have more energy to study and I did it like a maniac."
Doji is a pizza guy too He should come back and give ICT advice on how to succesfully juggle both jobs
I like your analysis, lazy!!
Now here's the thing. I worked as a Pizza Inn cook in my teens and early 20's. All 3 or 4 managers I worked under worked their asses off in the 60 to 80 hour week range trying to keep the place running and filling in for the myriad employees who just failed to show up for their shift.
I damn sure don't believe they would have characterized it as "I wouldn't work hard and I would have more energy."