AllenZ's Journal

I am no begginning trader for sure. I have been trading a long time and have a track record that nets near 10 points a week after commission for this entire year. I began this journal to show that you dont need to scalp the futures to make a living.

1 point a day net is nothing to write home about I will agree. But
if you net 1 point a day and risk 2% of your account per trade you will net 100% a year and 10 points a week gets you 200%.

Not sure what you make FLUID but you must do better than 200% a year with little or no risk. If you do then you may full well make fun of us struggling to triple our money every year.

AllenZ
 
Originally posted by AllenZ
I am no begginning trader for sure. I have been trading a long time and have a track record that nets near 10 points a week after commission for this entire year. I began this journal to show that you dont need to scalp the futures to make a living.

1 point a day net is nothing to write home about I will agree. But
if you net 1 point a day and risk 2% of your account per trade you will net 100% a year and 10 points a week gets you 200%.

Not sure what you make FLUID but you must do better than 200% a year with little or no risk. If you do then you may full well make fun of us struggling to triple our money every year.

AllenZ
More...

Allen perhaps all it will take to shut up the "nay-sayers" is to post up that trackrecord...

Show this guy Fluid that you are on pace to hit that 200% mark while adhering to a relatively small draw-down of say 10-15% of equity and I am sure he will go away!

Nobody can argue with 200% in 12-months with draw-downs of less than 10-15%...

If I were you Allen I would think about auditing this trackrecord and posting it on RT; they say the proof is in the pudding right?
I'm confused as to why I never ever see audited track records on chat-room and educational sites :confused:

Anyway PEACE and good-trading Allen,
Commisso
 
Originally posted by AllenZ


But if you net 1 point a day and risk 2% of your account per trade you will net 100% a year and 10 points a week gets you 200%.

Not sure what you make FLUID but you must do better than 200% a year with little or no risk. If you do then you may full well make fun of us struggling to triple our money every year.

AllenZ
More...

What type of position sizing module do you use to come up with the above returns?

How much equity per contract? What is the ratio 10k for 1, 15k for 1, 20k for 1?
 
Originally posted by Fluid


What type of position sizing module do you use to come up with the above returns?

How much equity per contract? What is the ratio 10k for 1, 15k for 1, 20k for 1?
More...

My average stop is 5 points or $100 per contract. In order to keep my risk exposure to 2% that would mean I need 5k per contract to keep risk at 2% per trade.

If trading 5 contracts my risk is $500 per trade ( 5 points at $100 per point based on 5 contracts. to keep risk at 2% you would need 25k. 1 point a day net after commission would be about $2200 per month or 26k per year, 100% return.

Now if you do 2 points a day with same parameters that would double your net to 52k profit on a 25k account. Dont discount the slow and steady path to returns.

AllenZ
 
Originally posted by AllenZ


My average stop is 5 points or $100 per contract. In order to keep my risk exposure to 2% that would mean I need 5k per contract to keep risk at 2% per trade.

If trading 5 contracts my risk is $500 per trade ( 5 points at $100 per point based on 5 contracts. to keep risk at 2% you would need 25k. 1 point a day net after commission would be about $2200 per month or 26k per year, 100% return.

Now if you do 2 points a day with same parameters that would double your net to 52k profit on a 25k account. Dont discount the slow and steady path to returns.

AllenZ
More...

Hey thanks for the tip about the slow and steady thing, but are you telling me that you take losses of 13pts on single trades and one day losses of like 20 pts trading 1 contract per 5k?

Is that what type of position sizing you teach in your room?

20*20$=$400/5,000 = 8% on a bad day?

Is that what you were referring to when you said "200% on little to no risk"?
 
Originally posted by Fluid


Hey thanks for the tip about the slow and steady thing, but are you telling me that you take losses of 13pts on single trades and one day losses of like 20 pts trading 1 contract per 5k?

Is that what type of position sizing you teach in your room?

20*20$=$400/5,000 = 8% on a bad day?

Is that what you were referring to when you said "200% on little to no risk"?
More...

Not so sure why you have it in for me.

But I will once again defend what I teach. I dont view trading on a trade by trade basis or success on a day to day basis. There are bad days and good days if you want one, you need to live with the other.

I teach traders to take a longer term look at their performance and dictate risk based on that. Sure, I took 1 stop of 13 points in a months worth of trades but go back and look at all of the stops combined and take an average, you should come up with a number under 5 points per stop on average.

When I discuss risk I dont look at it on a daily basis or per trade basis but as an overall concept. I look at risk from a longer term perspective and that is what I teach. You may not agree and that is fine, that is what makes trading great. There are many different perspectives.

I teach traders to be in this game for the long haul and not to look for "20 points a day with 1 point stops". That may sound great but it is very hard to practice and not responsible to teach.

I welcome your comments but truthfully maybe you should just not read this thread if you don't like it or agree with it.

If you like, explain your methodology, perhaps, that would shed some light on your obvious dislike for my style.


AllenZ
 
Originally posted by AllenZ
I welcome your comments but truthfully maybe you should just not read this thread if you don't like it or agree with it.

If you like, explain your methodology, perhaps, that would shed some light on your obvious dislike for my style.


AllenZ
More...

A big Amen to that.
 
Originally posted by AllenZ


Not so sure why you have it in for me.

But I will once again defend what I teach. I dont view trading on a trade by trade basis or success on a day to day basis. There are bad days and good days if you want one, you need to live with the other.

I teach traders to take a longer term look at their performance and dictate risk based on that. Sure, I took 1 stop of 13 points in a months worth of trades but go back and look at all of the stops combined and take an average, you should come up with a number under 5 points per stop on average.

When I discuss risk I dont look at it on a daily basis or per trade basis but as an overall concept. I look at risk from a longer term perspective and that is what I teach. You may not agree and that is fine, that is what makes trading great. There are many different perspectives.

I teach traders to be in this game for the long haul and not to look for "20 points a day with 1 point stops". That may sound great but it is very hard to practice and not responsible to teach.

I welcome your comments but truthfully maybe you should just not read this thread if you don't like it or agree with it.

If you like, explain your methodology, perhaps, that would shed some light on your obvious dislike for my style.


AllenZ
More...

So Allen again, you think it is acceptable to drop 8% in a single bad day and you teach this to your "students"???

8% Allen? 8!!!!

You are a walking time bomb with this type of mentality. Avg stops of 5pts. and you hit a little over 50% right? Which means 7-8 straight losses in a row are more than conceivable. Let me ask you something Allen, what the f&ck are you going to do in the event of 3 of them 8%'s in a week??? You talk of "the big picture" so you must see that played long enough these events are no longer slightly probable but inevitable...

If ever this quote was needed "ever hear the one about the guy that drowned in a lake with an avg depth of 3 feet?"

Its not that I really have it in for you Allen, but anybody who has been in the game for as long as I have and has enjoyed as much success as I have can see right through this shit! Some of us have a GENUINE desire to help newer traders along in their career and not want to see them being taken advantage of by people like you...

Show that track record that you spoke of and I promise you it will be the last time you hear from me on this thread again. PROMISE!

Oh and why ask me about what I do, I did not start a thread with selfish motives to sell 250$ monthly subsriptions to other fellow traders did I??????????????????
 
Fluid

To criticize Allens record does not make sense unless you are doing better and have been doing so for some time. I would be willing to make a hefty wager that you are not doing better over the same time period.
 
I understand you desire to keep new traders away from a "guy like me" and I am sure everyone appreciates your posts. I am done however defending my approach, my motives, or anything else.

I will post my journal and accept your abuse as a part of that. If one trader beneifts from it then it is worth it.

I do however hope that you can offer more to this site and this thread to help new traders other than telling them I full of it.

As far as I am concerned our sparring is finished.

AllenZ
 
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