$5,000 to $10,000,000?
Here’s an interesting weblog that I discovered the other day — Present Moment Trading Campaign S&P 500 Index. It’s documenting a trading campaign with the goal of building an initial $5,000 stake into an eight-figure account. April 10th was the tenth trading day of the campaign and the account was up 3,794% after that day’s trading. (Independently audited results to be provided at a later date.)
The author/trader, who goes by ‘Market Monk’, provided a chart of his trades for April 9th. That will give you an idea of his style, although I’d like to see more detail. There’s also an ‘Introduction, Background and Motive‘ section which is worth a read. I especially like this part:
This weblog is primarily for the benefit of four groups of traders.
The first group includes those trading for a hedge fund or an institution who are tired of working for someone else, but can not give up the perks and large income. They believe they need the support of a big organization to make big money. That may have been true prior to the emergence of electronic trading platforms, reliable broadband internet connections, reliable real time data feeds, very powerful software and PC’s, but that is not true today. Very big money can be made trading from home.
The second group includes those, who have experienced repeated trading setbacks and, consequently, formed a rather skeptical attitude toward almost anyone’s ability to consistently profit from trading. The ego is a funny thing. Frequently it will not allow one to admit that others may succeed where it has not. Sure it knows this has happened, yet emotions outweigh rational thought, and skepticism wins out.
The third group includes those who have repeatedly experienced trading setbacks, yet have not lost confidence in their ability to succeed. They maintain a winning attitude. This group revels knowing others have succeeded believing they will too eventually.
The fourth group includes those who have had limited success in trading and know they can do better. By making a few mental, emotional and tactical adjustments they can increase profits exponentially.
Which group is yours???
This post has 7 comments
April 6th, 2005
Wow.
Is he talking about trading the S&P futures? I know it’s a dumb question but I dont know the first thing about futures.
April 6th, 2005
Yeah, he’s trading futures. I also know next to nothing about them, but clearly there’s a lot of leverage involved.
April 7th, 2005
This looks like hogwash to me. Why doesn’t he show his trades in real time? Otherwise it sounds too good to be true and is probably just a publicity stunt.
April 7th, 2005
this looks really interesting, I’m going to follow it, and if it turns out true (after the audit), I’ll have to get into that kind of trading.
Thanks for pointing it out Mike.
April 7th, 2005
Mike I read through this today. Since he only lists results it is hard not to view him with some restraint. I’d feel more comfortable if he was showing even post trade what he was doing.
Anybody can make claims.
April 7th, 2005
Wow! He’s made over $260,000 in 11 days — up over 5,300%. At this rate, he’ll own the world by the end of the year.
Forget learning to trade like him. He’ll be able to afford to give us all a million dollars and he’ll still have plenty left for himself.
Haven’t seen you on Skype in a long while.
April 8th, 2005
Possible, but not probable. I know a trader that has an automated application based on the S&P E-Mini. He averages 100% return/year with a max year of 400% and a worst year of 25%. If this guy’s first day would’ve started with a loss, then his strategy would’ve fallen apart. Also, I would assume he is using automated strategies, thereby taking the human component out of the equation. However, if he is using automation, then one must also account for slippage. Finally, what leverage is he using and what broker would offer that leverage on $5k?