ES Journal Archive (2011)

[bapovs]

Quote from Pholeuon:

Something is smelling here. This feels like bull trap. I am not trading it but ... can something bad for market happen tomorrow, for example rates hike?

I lost money today, not a good day to start the year.
I was preparing for the pullback and scaled in from 68-70's. A lot of signs were green on my side.
One sign i ignored was the fact that they kept on buying the 69 for at least 7 to 8 minutes but never managed to make a bid. and also on the 69.75. That should have been a clue for smelling a rat. Unfortunately i did not unload.
Tomorrow a brand new day.
How did you guys do the first day?

 

[volente_00]

Quote from volente_00:

Open the door to 64

 

[Pekelo]

Quote from emg:

Anyway, i rarely lose day trading es makes me a moron.

Not listening to people, whose ideas make your system 500% more efficient makes you a moron, let's be clear on that.

By the way the basic principle of trading the ES is very simple: trying to make money by using LEVERAGE.

 

[Pekelo]

Let me get my calculator, because this is going to be a good one.

Quote from NoDoji:

He made it clear a long time ago that he trades 1 lot per $100K in his account and averages in 1 lot at a time.

Since most of the time when his entry is reached he does get the 1 point, so there is no opportunity for averaging in, thus he makes $50 on every 100K. If you go and check his monthly average, that was 3-4 ES pts, so he makes $200 monthly on every 100K. That is 0.2% in my book, annualizing that makes it 2.4%

Since he underleverages so much, why even bother with making under 3% annually? Either put the money in the bank or let someone who can make more trade it...

The only time when he can make money is actually when he is wrong and he NEEDS to average in so when the market turns, he finally gets a decent return on the capital...I can believe he made money on May 6th, what has to be recognized is that he needs those days for a decent return...

But hey, I left elementary school after the 3rd grade, so I must be missing somethin'

P.S.: I bet if he describes how he comes up with the entry points we could work on it and make them better (increasing the batting average, what is not very good right now)

 

[Pekelo]

Anyhow, since I like to be productive and provide constructive criticism instead of just bitching (too late?) let's run his strategy inverse:

Anytime when he posts his entry, we will treat it as target, and market entry from the time of posting with a 2 pts stop loss. Since the volatility is pretty low, I think 2 pts is enough, unless his target is 6-8 pts away, then we can go with 3 pts.

Even if his batting average stays the same around 50% (for reaching his entry) the system should make money assuming the target is farer than 3 pts away from the current price.

So according to the EMG Inverse strategy today was a 3 pts GAIN, because the market was around 1268 at the time of his post and we did make it up to 1271, what would have been his entry, our exit.

We will run the EMG Inverse strat for a month and see who does better. If we do, he is inviting us for a beer.... Fair enough???

 

[JSSPMK]

What's the point of allocating $100k per contract when a contract is valued at around $63k+ right now?

Secondly, what is the point of going for 1 point gain, which doesn't get hit often due to strange fill requirements, which represents 0.63% gain in proportion to $100k allocation per contract at the same time trading without stops (if true) & at the same time keep posting CFTC's disclaimer about risk?????

 

[Now is Now]

Quote from JSSPMK:

What's the point of allocating $100k per contract when a contract is valued at around $63k+ right now?

Secondly, what is the point of going for 1 point gain, which doesn't get hit often due to strange fill requirements, which represents 0.63% gain in proportion to $100k allocation per contract at the same time trading without stops (if true) & at the same time keep posting CFTC's disclaimer about risk?????

Because it is complete and utter nonsense....that is why...

My gut feeling is this person is home schooled and has found an entertainment channel using a unique method to stay 'alive' and maintain his alter ego....at the same time I have to admit that I have found some of his calls 'interesting'....as for trading...FORGEDABOUD IT!!!!

I think his account balance is about '$800029.50'....a lot more than mine as I pull profits periodically, but would NEVER maintain that balance in an account....scared of the boogey man:eek:

NiN

 

[kentraderstar]

Quote from JSSPMK:

What's the point of allocating $100k per contract when a contract is valued at around $63k+ right now?

Secondly, what is the point of going for 1 point gain, which doesn't get hit often due to strange fill requirements, which represents 0.63% gain in proportion to $100k allocation per contract at the same time trading without stops (if true) & at the same time keep posting CFTC's disclaimer about risk?????

HFT traders represent half of es daily volume. Furthermore, HFT traders allocate more than $5 million. They are responsible for the flash crash on May 6th.

Its all about managing risk. I cannot understand how es day traders day trade with only less than $100,000 risk capital. I find that ridiculous. I have seen guys who trade with only $2000 and i laughed.

The point is that if you know how to managed risk and is profitable, you can't argue with that.

I'm pretty sure emg trades other markets like grain and cattles. I'm betting that is where he makes most of his trading income.

 

[JSSPMK]

Quote from kentraderstar:

HFT traders represent half of es daily volume. Furthermore, HFT traders allocate more than $5 million. They are responsible for the flash crash on May 6th.

Its all about managing risk. I cannot understand how es day traders day trade with only less than $100,000 risk capital. I find that ridiculous. I have seen guys who trade with only $2000 and i laughed.

$5m per contract?

What is the purpose?

 

[kentraderstar]

Quote from JSSPMK:

$5m per contract?

What is the purpose?

1000 contracts $5 million account. that is enough contracts to move es 2-3 ticks profit.