EGO CHALLENGE (26 Sept 2003)

[Gordon Gekko]

yup, i will probably get my ass kicked by someone like acrary, but that's ok.

i'll probably make ~5 trades or less. i don't scalp, so posting trades within 1 minute should be fine. i will post the grand total at the end of day as net points gained or lost per contract.

i will be playing as "#1 Trader" to give myself a mental boost.

 

[Mr. Bollinger]

Quote from AMT4SWA:

I did + 48 points today per 5 ES contracts ($250.00 X 48 points).

Trades went as follows for 5 ES;

Trade #1 + 9.5 pts (1 entry with 3 "adds")

Trade #2 + 10.25 pts (1 entry with 5 "adds")

Trade #3 + 2.0 pts (1 entry)

Trade #4 + 0.75 pts (1 entry)

Trade #5 + 5.0 pts (1 entry with 1 "adds")

Trade #6 + 6.75 pts (1 entry with 3 "adds")

Trade #7 + 10.50 pts (1 entry with 8 "adds")

Trade #8 + 0.50 pts (1 entry)

Trade #9 + 1.0 pts (1 entry)

Trade #10 + 1.75 pts (1 entry)

Trade #11 + 0.0 pts (1 entry)

I have never done more than +35.5 pts per 5 ES contracts before. This is my new record (no "losers" today helped out). I trade highly discretionary and I usually have very good days. Today was fun, but posting trades with this format does not work well IMO. Monday I will go back to my great home to trade (#FuturesTrades on the MIRC....contact NihabaAshi for details).

Good Fortunes All!

Chris

DAMN! You are indeed an elite trader! I didn't get to trade today, but what's the point, you blew this contest away.

 

[SethArb]

Trade #1 + 9.5 pts (1 entry with 3 "adds")
Trade #2 + 10.25 pts (1 entry with 5 "adds")
Trade #3 + 2.0 pts (1 entry)
Trade #4 + 0.75 pts (1 entry)
Trade #5 + 5.0 pts (1 entry with 1 "adds")
Trade #6 + 6.75 pts (1 entry with 3 "adds")
Trade #7 + 10.50 pts (1 entry with 8 "adds")

of trading work out in the long run ?

whenever I try to average down a position I usually
lose my shirt

 

[AMT4SWA]

I was out all day with my family, so sorry I did not respond to questions earlier. I use the 5 min charts during the trade day with occasional looks at the 15 min/60 min/ and the daily. I do not scale into trades all the time (maybe 10% to 15% of trades over the last year), so today was not the norm. Also, with the volatility levels low I feel comfortable scaling into some trades based upon how I feel the market will move for the rest of the trading day. I would never scale into trades with moderate or high levels of overall volatility, so I select this type of trading only under certain conditions. In regards to all the methods of computing points per contract, I just like to keep it simple (today 48 pts for 5 ES or $12,000).

I will answer more questions tomorrow, because I am going to get some sleep tonight.

TTYL!

Chris

 

[traderkay]

to all ya guys who think AMT's gonna teach ya how to make 10 points a day dont bet on it I know cuz I've seen something similar happen on ET many times. If you got someone like that who's for real, usually they wont teach ya

 

[taodr]

Does anyone know what api AMT is using ? Buttontrader or Ninja ?Going by previous posts he uses IB.

 

[illiquid]

Quote from icarus618:


Great job, AMT4SWA! You obviously opened some eyes around here. Where did all the guys who are averaging 1-pt/day go?

They're all going back to the drawing board and thinking "Now I understand. All I need to do is take small profits when I see them and keep adding to losing positions to score the big home runs." hehe jk, nice trading AMT

 

[Lobster]

Quote from icarus618:



LOL! It's fun to think even a lobster can slide down slippery slopes.

Ok, ok, I admit that not everybody who averages 1 pt per day can make 100000% per year. What I meant to say was, It is possible that someone makes more than 100000% in a year by averaging 1 point per day.

 

[Grob109]

Quote from OldTrader:



OK, always appreciate getting myself straightened out as you say. But here's how he himself put it: "I did + 48 points today per 5 ES contracts ($250.00 X 48 points)."

Note he multiplies 48 points times the value per point of 5 contracts, which is $250. The implication being that he made a total of 48 points per 5 contract unit he traded. That means he made $12000.

Now, if I take the daily range of let's say 8 points, and multiply that by 5 contracts to make it comparable, what I get is $2000.

So the way I see this is it 6X, not 2X as you said.

Now admittedly, I did not go through his trades. Perhaps you did. Or perhaps he intended his results differently than I understood them. What am I missing here?

OldTrader

Someone noted he made 15.437 per contract. That is probably wrong from your point of view. It seemed fairly good to me as a practical result.

I do not know precisely, it is difficult to tell from the record.

I tried to post on ET in real time a while back and couldn't. There is probably no way in ET to constructively make anything related to real trading known to others. It is not because the person can't trade in a given way, it is just because there is no common way or basis in which anything in ET can be considered. People would have to be considerate in many ways for anything to transpire here. That won't happen because of the people here.

Use your value and consider it the correct one.

My personal value for the day was 12.3 and it is way less than I try for based on the 8.0 H/L range. It took me 32 trades which is about 12 more than my usual top of 20. The market was really messy as I saw it and never very rewarding.

 

[Grob109]

Quote from Grob109:



Someone noted he made 15.437 per contract. That is probably wrong from your point of view. It seemed fairly good to me as a practical result.

I do not know precisely, it is difficult to tell from the record.

I tried to post on ET in real time a while back and couldn't. There is probably no way in ET to constructively make anything related to real trading known to others. It is not because the person can't trade in a given way, it is just because there is no common way or basis in which anything in ET can be considered. People would have to be considerate in many ways for anything to transpire here. That won't happen because of the people here.

Use your value and consider it the correct one.

My personal value for the day was 12.3 and it is way less than I try for based on the 8.0 H/L range. It took me 32 trades which is about 12 more than my usual top of 20. The market was really messy as I saw it and never very rewarding.

When I posted this I had not read anything after your post telling me off. I didn't comment on the chart duration; it was evident to many of us. But the way you chide and and talk doesn't make it easy for people to explain stuff to you, ever.

You probably think of others as fitting into categories and how could they say any thing that is worth considering since they are in that category you assign to them.

Your trading methods are what they are. If you ever make an effort to improve them, you probably do it because of something that has been available to others for a long long time. You pass by a lot of good stuff by deploying your life style habits that kill anything getting to you in any way.