lescor's returns are not only plausible, but highly likely, given the contents of his posts. he's been a valuable poster to the ET community.
come back when you learn about slippage, illiquidity / becoming the market, and other problems that crop up with actual traders once they've crossed the point of having SOME system that works.
here's a quick example: i can buy 100 shares of CSGS or KTCC and not move the market. now try and buy 10,000 without BECOMING the market. or in KTCC, as few as 2500.
or you can ask sykes - after all, that's one of the reasons he stopped actively "trading" his system (paraphrase: i (sykes) can only make 250-300k with my system, or i can make a lot more teaching others how to use it) and why he trades small size. and checking on his trades last month (scrub myself off after going there), 40% of his trades were OTC, pink sheet stocks! yeah, good luck getting out of your positions in OTC stocks, where no quotes have to be honored. but real traders know that already.
if i were concerned about selling myself to others, i'd care about return on equity. here's a clue: my return on equity was considerably higher 3, 4, 5 years ago than it was over the last couple years. however, i've had significantly better years those past 2 than i had before.
lescor, keep up the good work. it's great to see a successful trader willing to give back much to the community. i don't post much, nor have the impetus to do likewise...but it's nice that you're willing to do so.
ah, let tim's comments speak for themselves:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1660599&highlight=scalable#post1660599
"it's not very scalable and for all my gains, I could never handle its volatility...I was working with right around $1mil so $200-$500k/year is pretty good" (my comment: 20-50% return)
http://www.elitetrader.com/vb/showthread.php?s=&postid=1626372&highlight=scalable#post1626372
"Usually there's only a few thousand shares to short"
http://www.elitetrader.com/vb/showthread.php?s=&postid=1632012&highlight=scalable#post1632012
"Also, I don't look at this in percentage terms since it's not a scalable strategy. If you were playing around with $5mm, then <b>yes, a 10% return/year would be probable</B>" (note: i've corrected it, sykes originally said 1%, i believe he meant 10%)
and that's one small part of my many trading strategies. difference is i've been doing it before sykes knew what a short-sell was, and i don't try to market it out to people while knowing its limitations.
come back when you learn about slippage, illiquidity / becoming the market, and other problems that crop up with actual traders once they've crossed the point of having SOME system that works.
here's a quick example: i can buy 100 shares of CSGS or KTCC and not move the market. now try and buy 10,000 without BECOMING the market. or in KTCC, as few as 2500.
or you can ask sykes - after all, that's one of the reasons he stopped actively "trading" his system (paraphrase: i (sykes) can only make 250-300k with my system, or i can make a lot more teaching others how to use it) and why he trades small size. and checking on his trades last month (scrub myself off after going there), 40% of his trades were OTC, pink sheet stocks! yeah, good luck getting out of your positions in OTC stocks, where no quotes have to be honored. but real traders know that already.
if i were concerned about selling myself to others, i'd care about return on equity. here's a clue: my return on equity was considerably higher 3, 4, 5 years ago than it was over the last couple years. however, i've had significantly better years those past 2 than i had before.
lescor, keep up the good work. it's great to see a successful trader willing to give back much to the community. i don't post much, nor have the impetus to do likewise...but it's nice that you're willing to do so.
ah, let tim's comments speak for themselves:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1660599&highlight=scalable#post1660599
"it's not very scalable and for all my gains, I could never handle its volatility...I was working with right around $1mil so $200-$500k/year is pretty good" (my comment: 20-50% return)
http://www.elitetrader.com/vb/showthread.php?s=&postid=1626372&highlight=scalable#post1626372
"Usually there's only a few thousand shares to short"
http://www.elitetrader.com/vb/showthread.php?s=&postid=1632012&highlight=scalable#post1632012
"Also, I don't look at this in percentage terms since it's not a scalable strategy. If you were playing around with $5mm, then <b>yes, a 10% return/year would be probable</B>" (note: i've corrected it, sykes originally said 1%, i believe he meant 10%)
and that's one small part of my many trading strategies. difference is i've been doing it before sykes knew what a short-sell was, and i don't try to market it out to people while knowing its limitations.
