AllenZ's Journal

Originally posted by AllenZ
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 sparing is finished.

AllenZ
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Well said AllenZ.

I personally have no respect for any trader that OPENLY criticizes another traders trade positions or trade methodology...

either without revealing their own trade methodolgy (trades) for others to judge or without offering some sort'uv specific helpful trading tips...regardless to the motive of the thread.

Such traders either have obvious agendas or are taking losses or many other possible reasons that could fill up this reply.

Every trader has a bad day...every trader has a day that others will envy...every trader has set rules that will get broken on rare occassions...every trader has a trade methodology that's appropriate for their trading style but inappropriate for the trading style of another.

Simply...for a trader to openly criticize via the method Fluid has demonstrated is an obvious sign of weakness on his/her part.

I've been around long enough to smell the obvious that Fluid has leaked out to us (no pun intended).

P.S. People like Fluid do not have the guts to offer something. It's so much easier and lazy to just criticize.

I've once said before here at ET...the rats come out of the gutter when the market does things that most weren't expecting.

Almost forgot...I think you should charge Fluid a fee (large fee) to allow him to review your trading record of posted trades here :)

give him a 10% dicount.

NihabaAshi
 
Originally posted by Fluid


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??????????????????
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Put up or shut up !
No one wants to here ur whining, so Master Trader let's see ur daily p&l here, then we can enjoy watching ur success, and maybe just maybe, someone willl critique it for u.
 
Originally posted by AllenZ
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.
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not responsible to teach? that is the method that SHOULD BE TAUGHT, risk 1 to make 20 (or 5 to be a little more reasonable). most cannot do it so that is why it is not taught.

i'll agree that it is very hard to do (but can be done), but saying not responsible to teach is nonsense.
 
Allen has laid out his daily trades and the thought process behind his daily trades... that is the essence of a trading journal... participants with a more abrasive tone on this thread may have actually got some relevant and pertinent points that they would like to be addressed... but surely, let's keep the tone civil since, once again, the primary focus of this thread is that it is a Trading Journal not a superfluous debating forum...

Now, on the issue of stops, let me state that my philosophy is different to Allen's... Allen has a historic perspective on stop size but will have no predetermined stop size for his trades... but the point is, that if Allen can maintain a historical average stop size of 5 points with appropriate historical average risk to reward ratios and winning rates then that is fine... on this basis, from a purely statistical viewpoint, one can argue that the occasional 13 point stop is fine... indeed by varying reducing contract size for larger stops, actual risk is pretty much maintained...

Personally, I could not have widely varying stop sizes in terms of points (a function of my personality)... this does not make my stop size methodology any better or worse than Allen's...

All that matters at the end of the day is the long run expectancy of the approach, as borne out by the raw numbers... people with differing personalities and the same long run expectancy can handle different degrees of standard deviations in their drawdowns... my tolerance for drawdown standard deviation is perhaps lower than Allen's on the basis of my stop size approach, but nevertheless it is perfectly feasible that very different drawdown volatilities does not necessarily mean very different long run expectancies... people with a more critical tone on this thread would be advised to bear this relationship in mind... bell curves with different degrees to the fatness of their tails can have the same mean average... [ generally speaking it is the scalping approach that has the thinnest tails and the pure trend trading approach with the biggest tails ] ...
 
Originally posted by AllenZ
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.
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FWIW. He's not lying, according to the posted results on his website. I did a quick run-through in Excel and out of 177 trading days listed and 844 trades, the gross is $11,832.00. The net will depend upon the RT, but if you use IB's rate it will come to $7780.80. Out of the total trading days, that is $43.96 per day or a bit over 2 points per day. If anyone has different figures, please feel free to correct me.

The only question that I have, regarding the trade summary, is the listing of futures points in .10 increments rather than .50, which is the minimum price fluctuation. As I understand it, Allen, you trade the NQ. I was wondering why you chose to use a multiple of your QQQ results rather than posting your NQ results directly? TIA.
 
Originally posted by candletrader

Personally, I could not have widely varying stop sizes in terms of points (a function of my personality)... this does not make my stop size methodology any better or worse than Allen's...

All that matters at the end of the day is the long run expectancy of the approach, as borne out by the raw numbers... people with differing personalities and the same long run expectancy can handle different degrees of standard deviations in their drawdowns... my tolerance for drawdown standard deviation is perhaps lower than Allen's on the basis of my stop size approach, but nevertheless it is perfectly feasible that very different drawdown volatilities does not necessarily mean very different long run expectancies... people with a more critical tone on this thread would be advised to bear this relationship in mind... bell curves with different degrees to the fatness of their tails can have the same mean average... [ generally speaking it is the scalping approach that has the thinnest tails and the pure trend trading approach with the biggest tails ] ...
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Candle,

Are you truely believe that variance or consistency given the same expectency has little to do with better or worse of the method as long as it suits one's personality?
 
Originally posted by wan2BTrader

Candle,

Are you truely believe that variance or consistency given the same expectency has little to do with better or worse of the method as long as it suits one's personality?
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Yes I do... as I alluded to, a pure trend trading approach will usually have a greater standard deviation of drawdown than a scalping approach, despite the fact that both approaches may have an equivalent expectancy... so personality / trading beliefs should be aligned with methodology and hence with the resultant standard deviation of drawdown, if the trader is going to have any chance of success in the consistent application of the approach...
 
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