Coiled markets
- Thread starter topgunn
- Start date
You said he posts on the P&L thread. I looked over there and the last time he posted a P&L was on 6/4 (for +$500 on 1 ER2 contract).
I think you meant to say:
"He posts his daily blotters in here SELECTIVELY".
Austin may be the greatest trader since Jesse Livermore, or he may be a total hack who lives off of selling room subscriptions, or maybe he's somewhere in between. I have no idea, and it appears that no one here does either.
But let's keep the posts honest, OK?
I think Austin is a genuine nice guy who is trying to help people and also make a buck to supplement his trading in down times.
Problems/concerns with his methods:
1. it only works in good trending legs or days.
2. he changes and tweaks the methods every 4 months.
3. gets killed in congested days.
4. gets stopped out in whippy swings.
5. very discretionary as to when to take signals and profits.
As a former subscriber I would say the method works maybe 50 percent of the time and you need to pick the best signals to even
come close to becoming profitable. If his sytem is so good , why does he now quit at after 4 es points? Because he knows the method does not work better than maybe 51 percent and wants to lock it in and call it quits before it is gone. I think purchasers need a system that is more consisitent then coiled markets.
Problems/concerns with his methods:
1. it only works in good trending legs or days.
2. he changes and tweaks the methods every 4 months.
3. gets killed in congested days.
4. gets stopped out in whippy swings.
5. very discretionary as to when to take signals and profits.
As a former subscriber I would say the method works maybe 50 percent of the time and you need to pick the best signals to even
come close to becoming profitable. If his sytem is so good , why does he now quit at after 4 es points? Because he knows the method does not work better than maybe 51 percent and wants to lock it in and call it quits before it is gone. I think purchasers need a system that is more consisitent then coiled markets.
This stuff doesn't usually mean much to me in 10 minutes let a lone a few years...seriously though, your points are well taken.......Austin has jumped to the eminidaytrader thread to try to make his point/insults so I'll leave him there...
Thanks
Bruce
Thanks
Bruce
<i>"05-15-08 04:29 PM
... While we managed to average a bit better than +2.5pts per session during the experiment, ER has no advantage over ES or NQ and disadvantage per liquidity. We'll retire this demo while ahead, and return to work a small account large(r) trading ES instead."</i>
http://www.elitetrader.com/vb/showthread.php?s=&postid=1922748#post1922748
In case one wonders what a successful series of real-time trading actually looks like... something no chatroom troll has ever yet posted anything similar in ET.
But, there's always July
... While we managed to average a bit better than +2.5pts per session during the experiment, ER has no advantage over ES or NQ and disadvantage per liquidity. We'll retire this demo while ahead, and return to work a small account large(r) trading ES instead."</i>
http://www.elitetrader.com/vb/showthread.php?s=&postid=1922748#post1922748
In case one wonders what a successful series of real-time trading actually looks like... something no chatroom troll has ever yet posted anything similar in ET.
But, there's always July
Quote from austinp:
<i>"05-15-08 04:29 PM
... While we managed to average a bit better than +2.5pts per session during the experiment, ER has no advantage over ES or NQ and disadvantage per liquidity. We'll retire this demo while ahead, and return to work a small account large(r) trading ES instead."</i>
http://www.elitetrader.com/vb/showthread.php?s=&postid=1922748#post1922748
In case one wonders what a successful series of real-time trading actually looks like... something no chatroom troll has ever yet posted anything similar in ET.
But, there's always July
In all due respect, Austin, the "experiment" as stated on 5/5 was that "for each +25pts ER logged here, we'll add another contract. In the next day or two we should be turning 2-lots, then eventually 4-lots, 8-lots and up. We'll max out somewhere around 40 ER contracts eventually, unless we blow out first."
Why did you retire the demo experiment after just two weeks?
I believe Austin stopped posting real results on the ER because it got real choppy and tough in May with the vix then at 16 and was then losing money! So I say post your actual ES ninja blotter results on your site and not just a spreadsheet summary of your 4 points.
If you can post say 10/12 days of up your 4 points or more than you got us all and will be king of Narnia!
If you can post say 10/12 days of up your 4 points or more than you got us all and will be king of Narnia!
<i>"Why did you retire the demo experiment after just two weeks?"
*
I believe Austin stopped posting real results on the ER because it got real choppy and tough in May with the vix then at 16 and was then losing money! So I say post your actual ES ninja blotter results on your site and not just a spreadsheet summary of your 4 points.
If you can post say 10/12 days of up your 4 points or more than you got us all and will be king of Narnia!</i>
I have about 20 minutes before leaving to bass fish the inlet of Canandaigua Lake here. My girlfriend's son and his friend have been catching 5lb ~ 7lb largemouths hand over fist this week, and I wouldn't believe it myself save for the reality of cellphone photos and video. My turn to join the fun today.
I'm going to sign off for quite some time. This site simply doesn't offer anything that will help me as a trader, and I prefer to keep company with sane, rational, mature, professional adults. So let's leave things on a constructive note that hopefully helps some traders move closer toward where they wish to arrive.
The ER isn't what it used to be. No longer can you push 20 ~ 40 contracts there without partial fills or hellatious slippage, limits or market orders. For whatever reason(s), that's reality today.
Mil, you and I have frequent email exchanges on exactly that subject. From what you share in our conversations, you are still getting chopped around hard in ER using whatever approach(s) you moved onto currently.
Suffice it to say that the ER is fine for small-lot traders who want to play the ups & downs of a volatile equity curve. That used to be me, but I've evolved in a different direction from there.
**
The most successful ES trader I've met to date came thru ET via email exchanges, two years ago. At the time I was engaged in another bitchfest with the usual cast of characters. This ES trader and I exchanged pleasantries, and exchanged emails often.
To my knowledge he still has never posted even one single time here after several years' membership, for the same exact reasons I'm stepping away. But I have seen actual blotters of his in private, and they are consistently awe-inspiring.
This trader's M.O. is to capture +2pts quickly as possible and quit for the day. Two years ago he was pushing 200 ES contracts in blocks of 100, 1/2 or all-in on the entries and all out on the exits. I have no idea what he used specifically as signals, but do know he trades rather fast tick chart settings. A lot of what little he shared drove me towards the research & development I've done since. For that I am truly grateful.
One thing puzzled me two years ago, something I absolutely could not grasp back then that is crystal-clear now. I never understood why someone would want to quit trading so early in the day when all that time remained on the clock. He'd shoot me an email of the day's detail and rake which would add up to a seven-figure annual gain. No huge highs or losses, but very consistent performance day after day. Then he'd leave for the day and go off to play, enjoying the time freedom our profession provides to those who work it correctly.
Now let me ask you this: how many times have you watched various emini traders come & go thru some of the popular threads here that try to catch every wiggle & blip, scalping all day? How many emini traders have come & gone that try to guess every turn, rationalize every wave and bicker over who did / did not actually fill wherever?
Does any of that seem like what a serious professional would do? Does any of that result in net averaging +2pts ES or greater per day for months & years on end? Or is it merely one big emini-nintendo game where the desire for action and ego gratification trumps professional business operation?
Of all the threads I ever read in ET concerning emini trading, <b>4RE</b> did it best. Dig that one out of the mothballs if you want to read something worthwhile in ET. This thread here is a collosal waste of everyone's time. It moved no sane, serious trader forward one single inch toward greater success.
<b>mil</b>, I'll shoot you an email later today. You'll see how simple it is to hit +4pts ES daily and then have the option to trade further or quit and go enjoy the rest of your day spent living life to its fullest. That's what true professional traders do. Any one of us or all of us can emulate them. It's our choice.
Best Trading Wishes
*
I believe Austin stopped posting real results on the ER because it got real choppy and tough in May with the vix then at 16 and was then losing money! So I say post your actual ES ninja blotter results on your site and not just a spreadsheet summary of your 4 points.
If you can post say 10/12 days of up your 4 points or more than you got us all and will be king of Narnia!</i>
I have about 20 minutes before leaving to bass fish the inlet of Canandaigua Lake here. My girlfriend's son and his friend have been catching 5lb ~ 7lb largemouths hand over fist this week, and I wouldn't believe it myself save for the reality of cellphone photos and video. My turn to join the fun today.
I'm going to sign off for quite some time. This site simply doesn't offer anything that will help me as a trader, and I prefer to keep company with sane, rational, mature, professional adults. So let's leave things on a constructive note that hopefully helps some traders move closer toward where they wish to arrive.
The ER isn't what it used to be. No longer can you push 20 ~ 40 contracts there without partial fills or hellatious slippage, limits or market orders. For whatever reason(s), that's reality today.
Mil, you and I have frequent email exchanges on exactly that subject. From what you share in our conversations, you are still getting chopped around hard in ER using whatever approach(s) you moved onto currently.
Suffice it to say that the ER is fine for small-lot traders who want to play the ups & downs of a volatile equity curve. That used to be me, but I've evolved in a different direction from there.
**
The most successful ES trader I've met to date came thru ET via email exchanges, two years ago. At the time I was engaged in another bitchfest with the usual cast of characters. This ES trader and I exchanged pleasantries, and exchanged emails often.
To my knowledge he still has never posted even one single time here after several years' membership, for the same exact reasons I'm stepping away. But I have seen actual blotters of his in private, and they are consistently awe-inspiring.
This trader's M.O. is to capture +2pts quickly as possible and quit for the day. Two years ago he was pushing 200 ES contracts in blocks of 100, 1/2 or all-in on the entries and all out on the exits. I have no idea what he used specifically as signals, but do know he trades rather fast tick chart settings. A lot of what little he shared drove me towards the research & development I've done since. For that I am truly grateful.
One thing puzzled me two years ago, something I absolutely could not grasp back then that is crystal-clear now. I never understood why someone would want to quit trading so early in the day when all that time remained on the clock. He'd shoot me an email of the day's detail and rake which would add up to a seven-figure annual gain. No huge highs or losses, but very consistent performance day after day. Then he'd leave for the day and go off to play, enjoying the time freedom our profession provides to those who work it correctly.
Now let me ask you this: how many times have you watched various emini traders come & go thru some of the popular threads here that try to catch every wiggle & blip, scalping all day? How many emini traders have come & gone that try to guess every turn, rationalize every wave and bicker over who did / did not actually fill wherever?
Does any of that seem like what a serious professional would do? Does any of that result in net averaging +2pts ES or greater per day for months & years on end? Or is it merely one big emini-nintendo game where the desire for action and ego gratification trumps professional business operation?
Of all the threads I ever read in ET concerning emini trading, <b>4RE</b> did it best. Dig that one out of the mothballs if you want to read something worthwhile in ET. This thread here is a collosal waste of everyone's time. It moved no sane, serious trader forward one single inch toward greater success.
<b>mil</b>, I'll shoot you an email later today. You'll see how simple it is to hit +4pts ES daily and then have the option to trade further or quit and go enjoy the rest of your day spent living life to its fullest. That's what true professional traders do. Any one of us or all of us can emulate them. It's our choice.
Best Trading Wishes
lake canandaigua--- the second highest lake front property values in the country, second only to lake tahoe. PLUS great bass fishing, gonna have to check this out! good luck, surf
