Share your opinions and experiences on Futures Trading.
5/27/2007 8:47:06 AM
cementman
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Hi Oscar,
After I saw your Friday 25/5 roundup and you said that some people are telling you to change your stop or to widen them.. i was anxious to write you, though I'm not much of a talkative or writing person, but I've been around and I can assume that I've seen a lot, I started trading stocks back at 1998 then switched to futures after 9/11 and now I'm trading forex (some times currencies futures) since 2003.
What I want to say is that most of the people will say the same things when they lose and they'll try to hang it on the market or the guy who gave them the tip or recommendation or even the system but never on them selves, that what makes 95% of traders lose there money, I've been mentoring some people and at the end of the week they call me and say we lost though I made on the same week 5% on my money, why? Caz they say we thought we were gonna have a signal or I missed the move and when I got back I thought I can still ride the move or I thought it was gonna be a home run so I've loaded the boat.. exactly the same mistakes that I warned them from again and again.
Some of the people see the advertises on the web like we would make you a million $ in a month starting with only 22 cents or what ever and they start dreaming, well you could be but not in a month and if he's so good why don't we see his name before bill gates in forbes magazine.
The people wants a system that is right 100% of the time and it rides every wave by the tick, so what I want to say is handled it great on your video you just don't switch from system or method to other just because of a losing trade or even a losing week. people the moment you lose faith in your system and change it, is the same moment it starts to make money again. Also you never bend the rules caz when you do and say the hill with money management on this trade I'm just feeling so good about it I'm just gonna load the boat on this one, most probably this is the one that you're gonna lose your shirt on.
I have targets for my self for losing or wining a weekly one, so if any of the got hit first I stop, so if I won and made my target at the first day of it I stop so I don't waste what I won, and if my losing percentage got hit I also stop and come back the next week.
I've seen statements with hundreds of winnings and 4 losers again 4 losers that blow the whole account , also I've seen accounts went from 10,000 to 120,000 in 5 months and ended with a margin call in less than 2 weeksâ¦this is not trading this is gambling and the casinos always win and if there is professionals here and I'm sure there is they'll know what I'm talking about , they'll know that if you apply for a trader job in a reputable place they'll ask you for a track record and when they have it they have people to analyze it they look for your risk in each trade and your management to the account and most important your CONSISTANCY , they're not interested in one who makes 100% in one month and lose them or lose even 70% in the second one they don't like sudden falls and collapses they look for people who make 5- 10- 7 that kind of percentages each month and if he had a losing one it should be contained in 2-3 max. look at the performance of the big funds they're making 30-40% yearly have you ever asked your self why? Caz they limit there risk and it's a lot more harder to manage billions caz you have to have a certain technique to get out of your position caz when you do with these kind of money you actually move the market against you,
And I'm sure that Oscar and other traders here know what I'm talking about.
Now thatâs what Oscar offers.. CONSISTANCY, that doesn't mean you don't lose but like boxing who ever tells you that he never got one hit is definitely a liar and most probably you'll have a losing rounds 2, the important thing is do any thing but never take the knockout caz when you do there's no tomorrow for you my friend.
Now for the last thing caz I don't like to talk a lot(Boy.. for some one who never liked to write and didn't had much posts this sure is a loooooooong post :lol: ). I'm from Cairo, Egypt and my first language isn't English by the way so forgive my typos, I was an architect till 1998 when I started trading.
I wrote this not only to support Oscar but caz I've seen the arguments that's happening now and then when ever the people have a losing trade and I've seen it before hundreds of times with every mentor or forum and I've seen the mistakes that I've talked to you about and some of them I even committed years ago so I'm just one of you(I'm feeling like I'm running for presidency with these sentences :lol: )
Good luck to you all and I wish you a great life and happy weekend.
And to you Oscar though I don't trade your recommendations yet but you really make me think about going back to futures and I'm always addicted to your movies with my cup of coffee in the morning so you're doing a great job and believe me I know a good trader when I see one, so all the best to you and all of your team, I wish I could come to meet you in vegas but itâs a long way from here(like my post :lol: )
Regards,
Cementman
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5/27/2007 1:49:44 PM
piesou
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Right on, cementman. Good post.
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5/27/2007 4:00:32 PM
Administrator
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Oscar
you would of been a hero if you never moved your stop to 1532.
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6/3/2007 9:29:27 AM
marty
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thanks alot for yr comments mr cement man, very wise words from u
i am only new to the whole thing, i had paper traded in cfds for 4 months and didnt trust the stratergies to risk my money, then i got in to eminis, and again didnt feel confident of the stratergies, then i was introduced to oscar,
i paper traded for 3 months and since then have been waiting for my new trading accounto be opened, fortunate or unfortunate im not sure but over the past few weeks where some of the omnis have struggled i have not been trading, but i must admit, as a newbie to the whole world of omni's it has made we question it, and another friend of mine has pulled away already, i think i am stonger, and cant wait to be part of it all,
i have to be very careful as i only have a smal bugdet to make work for me and my fiancee,
thanks for yt time
martin
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7/15/2009 7:24:30 PM
maxk
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Great bolg Cementman.
I've been foolish enough to trust trading signal programs without doing my own homework and almost blown my accounts out.
So far I've been paper trading Omni and keep learning to make my own calls with the support of Oscar. That would be the only real way to trade at the end.
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1/7/2010 5:41:12 PM
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Do you want stock picks that have triple gainers.
http://www.superstockpick1.info
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