25 Years & $100 Million Profits... A to your Q's, Today Only

Quote from Chuck Krug:

Hi there
Missed yesterday due to hangover/self- induced coma :-)
Been toying with some mutual funds ideas myself and wondered what mutual funds do you trade or can one actively trade?
(not too much fees etc)
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If you want to be an active trader, ETF's are actually better. Many are 2:1 leveraged, long and short (but you don't have to take a 100% position with your capital) + you get real-time fills whereas mutual funds are end-of-day fills, mostly.

Otherwise, Profunds, Rydex, and a couple of other fund families are supportive of trading.
 
Quote from thetrendfollowe:

Gnome,
Great thread.

I only have two questions.

1/ How have you diversified your wealth out of the financial markets? Property? Bonds? Just cash?

and most importantly,

2/ What do you drive? :D
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Mostly liquid... when not in another position, in cash preparing for the next trade. (Trading is a form of "diversification".. not necessarily by asset or asset class, but rather by "opportunity".)

I have conservative cars... a Montero SUV and an Infiniti M.
 
i also have one technical question to ask you, if it's not too late :)

For intraday trading what type of charting would be more suitable bar/candle charting OR p&f/kagi (generally the
"smoothed" charts).

My personal opinion is that since a 5 minute bar's Open and Close is irrelevant and a lot of signals use these values in their calculations, the p&f chart which only takes into consideration the directional strength would be more suitable.

But, your opinion is highly needed!
 
Quote from alex.samant:

i also have one technical question to ask you, if it's not too late :)

For intraday trading what type of charting would be more suitable bar/candle charting OR p&f/kagi (generally the
"smoothed" charts).

My personal opinion is that since a 5 minute bar's Open and Close is irrelevant and a lot of signals use these values in their calculations, the p&f chart which only takes into consideration the directional strength would be more suitable.

But, your opinion is highly needed!
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I've become so used to candlesticks, that's all I display... I really only care about the highs and lows of bars... and the opening gap, of course.
 
Quote from gnome:

Oh, I COULD write a book... but in all honesty, it would be more like a "pamphlet"... you know, "Chaper 1" stuff... the things everyone was in a hurry to get past so they could get on to the good stuff... tsk, tsk.
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Exactly the same for me with a book. I've been asked several times to write one, but I cant seem to create anything thats more than 20 or 30 pages long, and honestly I could probably put it all into 10 or 15.

Brandon
 
Just wanted to thank your for taking the time with such a long involved thread. You are very generous with both time and info. Especially with the info, much more than I would ever be.

It is always interesting to see how other profitable traders do it. (Not that I'm in the same ball park in any way shape or form.) It is always amazing to see how different everyone goes about things, there are still always some uncanny similarities.
 
Quote from William Rennick:

Your post caused Inspector Rennick to do a little clicking around on the www.
Here are some links to learn about our man gnome. He may have a healthy ego, but it looks like he is indeed a very successful trader, with portfolio. Thanks Gnome, you were very generous to share your insights. You reenforced my belief that simplicity is a beautiful thing.
:cool:

http://www.traderclub.com/discus/messages/18/1891.html?MondayMarch2220040914am

http://stockcharts.stores.yahoo.net/howtomamoins.html
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I don't think gnome is Freestone. Freestone "won" in 1994, but since he works for O'neil and does CANSLIM I think he won the Stock trading category. Gnome says he won "parts of the 1994 championship" - doesn't have to be the stock one.
 
I don't get it gnome is William O'neal? Or this Freestone who lives ion an $8 mil house and got dumped by some chick? I've learned absolutely nothing in this thread but I never do. I must say aspects of this gnome strike close to home, I like the whole origination of the name which drew fine parallels to how stonedinvesting got it's name (when tech stocks were rolling over people after the crash, I had a blowup of film as a logo of Indiana Jones with the rock rolling behind him... the idea was to get the focus on the rock not the research bong and have cards made up). I'm sure these 2X etf's have made your day for these mutual funds are ZZZZZzzzzzzzzz. I bought Mainstay once and FPA Bond with Rodridegez way back when- they suck. The market roared ahead certain stocks doubled and tripled and we were lucky to get $1-$2 gain a year! Of course I can get that in a day with stocks and that's why I urge you now that you are set in life and can dabble. Start trading stocks. I think it will open you up to your full possibilities which if your writing is any indication, is that of smart and funny guy.

Also I found the paperwork of listing every stock a mutual fund bought and sold, foreign and US and accounting for all those fractional dividends too tedious at IRS time and I disliked the habit of hitting new investors with prior year's capital gains at tax time!

I'm sorry I didn't catch your thread yesterday, I would of asked your opinion of the Quant situation as it stands now. A good idea gone bad? An bad idea period. Just how far should we let HAL take things here- as floor brokers are whisked away and the software barks to itself...I'm not much for systems although they have there place...

~stoney
 
Quote from powerfade:

What difference does it make?
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I guess some are interested in his position sizes on ES in order to see when position size starts to work against you (worse fills, alerting the market that there's a big player on the move, etc.). When you see those market depth numbers flashing by in the triple digits, you wonder who or what is buying/selling and why. At least I do anyway.

It is of course totally understandable that he doesn't want to reveal this information (and I doubt many of us are likely to run into that particular problem soon anyway!).
 
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