We're pretty close to a sell signal on the SPY and a buy signal on the TLT according to the Ivy Portfolio method.
Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
SS 2606
STOPAT 16
STOPAT 16
Don't see the point.
Guys are watching to see what trades are being done in real time, not a snapshot at the end of the day.
I don't see the point of posting after the fact. Guys are watching, what in heavens name are you talking about. Do you think someone is placing trades based on your after the fact posting.
Because by posting an eod statement, we can see the final result of ALL of your trades. You may post trades you HAVE ALREADY done in real time, but are you posting ALL of your trades in real-time? Certainly that should not be expected of anyone outright, because daytrading is a busy-enough business as it is. There may be some losers you are not sharing. There may be some winners you are not sharing.
Remember when you mentioned here about 7 weeks ago that you lost $10K in one day? It is fine to mention it here. But back it up with a statement, or people will not believe it. Anything outside of that must be taken with a grain of salt. I am tired of mentioning here and there in various threads that I have made or lost X, that I lose $10K or make $10K, but SHOW IT in my real money statement eventually, while so few others do the same.
My claims are backed up by "showing the money" as it were, or else it is all blustering. In this thread, Brianharvey seems to have no qualms about posting his many losses on each trade, but there are no statements. Rickshaw has been doing the same but is starting to show statements. This is progress.
And when it comes to statements, I look at just a smattering of stats. When I look at Rick's statement I see two major bits. The number of trades, and the net profit. The guy did "49" trades in a day. The net profit is $3K. Without knowing exactly how all those stats are calculated, I will give some margin for error for the number of contracts traded and max position size. I will ignore sharpe ratios and percentage of wins to loss and consecutive wins over losses and largest winners vs. loses, and look at what matters...That net profit.
And assuming expenses are not tied in, I am going to be super liberal and say that half of his net profit has been taken away by the unseen calculables, which are fees/commish. So if in my wild outrageous overblown calculations the guy spent $1,500 to make that $3,000, who the hell cares? He has netted $1,500 after all is said and done, in 24 hours. That is impressive. Average that out over a 4 week month and you have $30,000 per month. $360,000 per year. Take away 50% of that for taxes (being liberal there as well) and he's taking home $180,000 per year, free and clear.
This is an outrageous example and beset with strict numbers, but I hope you, Visaria, can see the reason for why you might wish to post pnl statements. If not for others, but at least for yourself? You certainly do not have to appease anyone on the forum, there is no ego to prove superior. PnL statements are just statements of fact. If that ain't your bag then so be it. But that is why you may wish to care, and why sometimes others do post them. Try it!
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Only one of his posts yesterday was after the fact lol. You seem to disregard the fact he's here every day posting his trades in real time?
I don’t need to see Visaria’s end of day rap sheets. I’m interested in the real time stuff not the competitive trading journal aspect. This thread is about action in the s&p not who’s extracted the most money from it.
Also @Rickshaw Man werent you posting back to back DOM updates a couple months back? You post the same kind of calls so I don’t see what the uproar is about.
I find it ironic that one of the guys in here with consistently solid calls is now getting shit about it. He could have a 1000 losers a day but if all I see are mostly eventual winners being posted before the trades have even played out then that says he probably has a clue.
Also @Rickshaw Man werent you posting back to back DOM updates a couple months back? You post the same kind of calls so I don’t see what the uproar is about.
I find it ironic that one of the guys in here with consistently solid calls is now getting shit about it. He could have a 1000 losers a day but if all I see are mostly eventual winners being posted before the trades have even played out then that says he probably has a clue.