ES Journal Archive (2006 - 2008)

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Quote from 2006:

How does quoting work on exotics risk?
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"You ask for a market by defining the exp, strike and payout. The dealer will solve for the risk-premium"

Which of course you've already modeled. It seems counterintuitive.

I can get an executable market in 30 seconds or less. They're never held. They piss all the time and tell you "no deal" if the market moves a tick and they think you're too hot for the position.
 
I guess what I wanted to know is how fast they'll quote you, and how long you have to take it.

Thanks. Dirty bastards -- always trying to get an edge.
 
I still see a decline based on this weekly chart, I don't think Buy1Sell2 will be buying any time soon, but that is just a prediction :)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1544534>
 

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Quote from smilingsynic:

How many contracts (your maximum number)?
What was your maximum drawdown?
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The info you seek had already been disclosed in my previous posts on this thread.
 
Quote from JimmyJam:

Although it looks pretty nutzo, what you are doing seems to be working for you ... and while I don't want to see what your money management algo's look like, I am curious as to how many cars you used to net the last 36 pts.

BTW, I'm currently up 4 pts in comp, with +1.25 outstanding on the second trade, with the entry protected (not looking too sparky though).

JJ
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it was 16 cars :eek: :eek: :eek:
 
Quote from spike500:

I had a colleague that traded the same way you do. He was stubborn, not afraid of risk, and stops were not necessary according to him. In 1994 he made more than 1 million $ net profit. All his bad trades reversed and finally ended with profit or small losses. But in 1995 he went short the S&P at 495 with a position of 210 contracts (of 500$ each at that time). Each point profit would make him 105,000$. Just watch the chart of the S&P from 1995 till now.
He collected constantly margin calls, but as he was sure the market would reverse, he added money each time to be able to hold his position. At a certain point his loss was so big that he couldn't’t take the decision to liquidate his position. At the end his position was closed by the bank with a loss exceeding 10 million dollars.
I only want to give you some personal advice, I don’t want to interfere in your trading, talk to other professional traders and ask what they think. And if you are sure you can continue the way you trade, just print out this posting and archive it. I hope you will never have to reread this posting again due to certain circumstances.

I thought I was invincible too when I started trading. I learned my lesson, but it costed me 50,000$ within 24 hours of trading.
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I like the story. Inspiratinal material, especially the first two sentences.
As for risk. As of Friday I could really, really put some serious contracts on line (sold my co-op in NY and we all know how affortable housing is in the city :D :D ). However, after initially placing a 20 car order on line and making 1K in couple of minutes, I decided to postpone going 10X with my system and hence I am still trading as if the extra $$$$$$$$$$$$ weren't there.
I got scared by all the postings a little bit. However I did go up to 16 contracts today instead of my max 10 like a used to.
 
<i>"However, after initially placing a 20 car order on line and making 1K in couple of minutes, I decided to postpone going 10X with my system and hence I am still trading as if the extra $$$$$$$$$$$$ weren't there.

I got scared by all the postings a little bit. However I did go up to 16 contracts today instead of my max 10 like a used to."</i>

Saxon, a sincere congratulations on your success. May it last forever and a day!

On a similar note, a lot of people post contract size, specific entry and exit details in this thread. It would be monumentally inspirational and helpful to all of the aspiring traders who read these words if those reported trades were reflected in trade blotters attached.

Something that shows $$$ made, be it a snippet of the actual account or trade platform would make a world of difference.

Many here go to great lengths and numerous posts detailing significant trading success. Why not polish it off with the pudding's proof?

# of contracts traded or just real dollars profit in account blotters are always most wlecome indeed by the readers who aspire to learn here. One tiny little extra step, and the real dollar results are there for all to admire & aspire towards.

Congrats to all on the bonafide trading success :p
 
Quote from austinp:

<i>"However, after initially placing a 20 car order on line and making 1K in couple of minutes, I decided to postpone going 10X with my system and hence I am still trading as if the extra $$$$$$$$$$$$ weren't there.

I got scared by all the postings a little bit. However I did go up to 16 contracts today instead of my max 10 like a used to."</i>

Saxon, a sincere congratulations on your success. May it last forever and a day!

On a similar note, a lot of people post contract size, specific entry and exit details in this thread. It would be monumentally inspirational and helpful to all of the aspiring traders who read these words if those reported trades were reflected in trade blotters attached.

Something that shows $$$ made, be it a snippet of the actual account or trade platform would make a world of difference.

Many here go to great lengths and numerous posts detailing significant trading success. Why not polish it off with the pudding's proof?

# of contracts traded or just real dollars profit in account blotters are always most wlecome indeed by the readers who aspire to learn here. One tiny little extra step, and the real dollar results are there for all to admire & aspire towards.

Congrats to all on the bonafide trading success :p
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austin did someone hijack your account, surely you are not joining the ranks of those requesting folks post their blotters to be believed.

Or are you mistaken that saxon is claiming he made 70something points today. He is not listing points per contract like everyone else, he is posting total points made ie.. a 1 point gain on 10 cars is a 10 point profit in his world

You really dont want to see his blotter, poor bastard was about $5000 in the hole at one point today, not exactly motivational -- even if he did clear about $3500 today -- im afraid it's going to end badly for ole saxon one day soon, although i hope not since he seems like a nice enough guy
 
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