2012: The Battle for Survival

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Quote from JB3:

I think you can save quite a bit by switching to a lower cost broker.

MB Trading just announced a new tiered option pricing.

http://elitetrader.com/vb/showthread.php?threadid=276408

If you trade more than 10 contracts at a time, the 0.60/c is better than IB's 0.70/c unless you do a large monthly volume. Or just go with IB, and I think the savings is quite substantial.
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Correct!

What Neke needs to do is to realize that if he switches brokers, he will increase his yearly PL by 30-50% immediately without any risk. So, this is like a zero-risk trade with a guaranteed huge return. Of course, he will have to re-tune his infrastructure for IB or MB Trading. But the benefits of making the switch from the long-term perspective in my eyes are huge!
 
Quote from gmst:

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Regarding you personally, I think more pertinent question is now that you have realized 35% of your PL goes to brokerage, what are you going to do about it?
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The immediate action is to reduce non-essential trades, especially the option trades. Those cost a lot in commission and slippage. My model calls for about 30 option trades in a 6-month period. I have no business doing 140. Most of those were in the earlier part of the year, before I refined my option strategies - and am still doing.
 
Quote from neke:

But if it is competitive/profitable for the broker (I dont mean a FAT one like Ameritrade that is catering to 10 million dormant accounts with hardly any commission), why is there no broker stepping up into that space. Surely the cost of running the brokerage business cannot be that high. Just take 20000 active traders @ $2000 per/year, thats is already $40million. We are not talking of people that need a lot of hand-holding support, but active traders.
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It's about $25,000 per year for a one man shop.

There are very few really who trade. Robotic technology has replaced the inefficiency related to illicit tactics in the trading pits to manipulate the price.

Those tactics aren't possible in cybercurrency, but just finding 20 active traders is really hard.

Dormancy will occur if there isn't positive expectancy, and that's where I'd put these threads, neke.

Go pay for some large family expense if from $600k to wherever still isn't sickening enough, I lost just because of too much trust, and I was probably one of the best performers before PFG but negligence and tacit fraud just comes down, unfortunately I gave it a good shot and there's nothing I really can do than continue trading.

We've mentioned to give this up for some time, and do some research, yes that means coding original quantitative algorithms not copied off your schmo ameritech helpsite.
 
Quote from neke:

Summary Update Weeks 1 - 25 2013 (1/6/2013 - 6/29/2013)

Still treading below the surface, but still alive and trading. For the 25 week period, account up 21K (26%).
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Congratulations on your "still alive and trading"!!!!!!!!!!!!!!!!!!!!!!!!

7/13/2013.
 
Period Update for weeks 26,27,28,29 (6/29/2013 - 7/27/2013)

Glad to announce that I am once again above the surface (six figures). Slow but steady gains the past four weeks. Still lots of work in progress to perfect the man/machine partnership and completely halt deviations. All in all, delighted in the direction taken.

Code: 
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Opening Balance:                	 92,698
Net gain for period 		         11,227
Cash Withdrawal				 (2,500)
------------------------------------------------
Net Balance:                   		101,425


For the Thread Year-to-Date  1/6/2013 - 7/27/2013

Opening Balance:                   	83,156
Net gain		    	        32,669 (Up 39%)
Cash Withdrawal			       (14,400)
------------------------------------------------
Net Balance			       101,425
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attachment.php
 

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Glad to hear Neke. Best wishes.

Quote from neke:

Period Update for weeks 26,27,28,29 (6/29/2013 - 7/27/2013)

Glad to announce that I am once again above the surface (six figures). Slow but steady gains the past four weeks. Still lots of work in progress to perfect the man/machine partnership and completely halt deviations. All in all, delighted in the direction taken.

Code: 
--------------------------------------------------------------------------------


Opening Balance:                	 92,698
Net gain for period 		         11,227
Cash Withdrawal				 (2,500)
------------------------------------------------
Net Balance:                   		101,425


For the Thread Year-to-Date  1/6/2013 - 7/27/2013

Opening Balance:                   	83,156
Net gain		    	        32,669 (Up 39%)
Cash Withdrawal			       (14,400)
------------------------------------------------
Net Balance			       101,425
----------------------
attachment.php
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Quote from neke:

Period Update for weeks 26,27,28,29 (6/29/2013 - 7/27/2013)

Glad to announce that I am once again above the surface (six figures). Slow but steady gains the past four weeks. Still lots of work in progress to perfect the man/machine partnership and completely halt deviations. All in all, delighted in the direction taken
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This is fantastic, Neke! :cool:
 
Weekly Return
Code: 
Ended		P/L

11/01/13	-1732
18/01/13	-3656
25/01/13	8648
01/02/13	-531
08/02/13	2794
15/02/13	5213
22/02/13	-5209
01/03/13	3253
08/03/13	-2352
15/03/13	-1932
22/03/13	2408
28/03/13	-3030
05/04/13	-4689
12/04/13	236
19/04/13	-3073
26/04/13	9116
03/05/13	-2712
10/05/13	3332
17/05/13	6009
24/05/13	12268
31/05/13	-4624
06/06/13	-3285
13/06/13	-1655
21/06/13	3519
28/06/13	3125
05/07/13	253
12/07/13	6502
19/07/13	711
26/07/13	3760
attachment.php
 

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