Grinding it out, day after day

[GG1972]

Quote from saxon22:

Lescor,


As a successful and a long term trader, could you provide details as to what kind of set up do you use to generate profits? Are you a minimalist, that is a person who only needs 1, maximum 2 monitors or are you one of those fellas whose configuration could replace NORAD center if need be?

Why dont you post your number and address-he might give you an all expense paid trip to his place and a couple of strippers for upcoming weekend so you are not bored.

On a side note
Winning strategy
http://www.fool.com/investing/small-cap/2010/02/04/build-your-fortune-with-these-winners.aspx



SWM Price recommended at $71.36 price today $46

 

[saxon22]

Quote from GG1972:

Why dont you post your number and address-he might give you an all expense paid trip to his place and a couple of strippers for upcoming weekend so you are not bored.

On a side note
Winning strategy
http://www.fool.com/investing/small-cap/2010/02/04/build-your-fortune-with-these-winners.aspx



SWM Price recommended at $71.36 price today $46

I am not bored and I am not asking for any strategy. I am interested whether those who print $$$ from the market do it with elaborate set ups or prefer a simple hardware configuration. I myself get by on 1 monitor + notebook and while I have been contemplating adding a 28 incher, I have yet to fully justify the need to pull the trigger for it.

As for strippers and such. I understand that during high school years those are the times when one fantasizes about such things and consequently your fascination is in line. One day even you will be deflowered and as distant from fruition as it is now, that special moment will arrive. For now however:

http://www.youtube.com/watch?v=BYojs78Tf9Y


Dream ON!

 

[lescor]

Quote from saxon22:

Lescor,


As a successful and a long term trader, could you provide details as to what kind of set up do you use to generate profits? Are you a minimalist, that is a person who only needs 1, maximum 2 monitors or are you one of those fellas whose configuration could replace NORAD center if need be?

I have 4 monitors on one machine plus a laptop with a second monitor. I could get by with one or two less, but I make full use of what I have now. Keep in mind I am trading multiple strategies at the same time. Each requires an application or spreadsheet, plus order entry platform and blotter for two brokers. Add in some charts, a chat room, a few IM windows and a web browser and you can see that one or two won't cut it.

This is the current setup, though I'm in a different house at the moment while we're having a new one built.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1732000#post1732000

 

[shortie]

Quote from lescor:

I am 100% completely non-superstitious, but I just had to share the irony of the above statement, made just yesterday.

I just booked my worst loss ever for my intra-day rtm strategy, after being down, you guessed it, $18,000.

SWM pinned me down by the throat and beat me senseless with a sock full of pennies. The sad part is I recovered most of it but hadn't exited before it before it died again. Final tally -$15,500

the worst day ever for a strat and you are still positive for the week - amazing!

two questions:
1) is this the worst day for a strat or the most you dropped in one stock?
2) were any rules broken with SWM?

 

[saxon22]

Lescor


Continuing with 1 question per day routine, most people when they become successful at something, reward themselves with a material thing. I call it the corvette syndrome. Has this happened to you?


I realize this has absolutely nothing to do with trading, but since it is Friday and I am down $500 and change, I thought that switching gears momentarily would clear the dense air.

 

[Eddiefl]

Lescor,


excellent thread, this is inspirational for traders like myself.

To see how someone has become successfull and stuck it out.


Quick question, more pyschology than anything else. Once, you "made it" in your mind, or hit the mark where you can say you made it, be it the 500k profits or 1mm profits, whatever. did you ever let up, or become more casual with the business.

Or was it the reverse, did your focus and attention actually intensify. I think i know the answer, i just want to hear your reasoning.

thanks

EF

 

[lescor]

Quote from shortie:

the worst day ever for a strat and you are still positive for the week - amazing!

two questions:
1) is this the worst day for a strat or the most you dropped in one stock?
2) were any rules broken with SWM?

Worst day for that strategy. I think in the heat of Q4 2008 I had worse ones than that, but then I also had monster winners to offset things, the volatility was so crazy.

Rules broken, kind of debatable. The stock retraced a fair amount from where I was down the most. In a typical trade, I'd have sold a good chunk of it along the way. This was such an unusual situation that I decided to hold more shares for a bigger retracement, which from past experience was a good odds bet. It didn't work out and I lost more than in hindsight maybe I shouldn't have. But the rules for this system aren't that rigid, I do allow discretionary input. It was such an anomaly and so crazy that it's hard to say. I traded it the best I could and stayed patient, which didn't pay this time.

 

[lescor]

Quote from saxon22:

Lescor


Continuing with 1 question per day routine, most people when they become successful at something, reward themselves with a material thing. I call it the corvette syndrome. Has this happened to you?

I told myself that when I had a million dollar year I'd reward myself with any sports car I wanted, guilt free. It was going to be an Audi R8. But when the time came, I couldn't justify it. Just seemed like frivolous spending. I have what I need and I'm content. I can't just spend money for the sake of spending money, not my nature.

My wife and I have been planning our dream house for a long time though, and we found the land a few years ago. After 2008 we had the cash to actually do it, so it's underway now. So I guess I did reward myself, but it was something I was going to do anyway.

 

[lescor]

Quote from Eddiefl:

Quick question, more pyschology than anything else. Once, you "made it" in your mind, or hit the mark where you can say you made it, be it the 500k profits or 1mm profits, whatever. did you ever let up, or become more casual with the business.

Or was it the reverse, did your focus and attention actually intensify. I think i know the answer, i just want to hear your reasoning.

thanks

EF

Complacency is actually the thing that worries me. I have become pretty comfortable with my trading. The work I've put into consistency as goal #1 has paid off and sometimes it does feel like I'm just cruising. But I always remind myself that it can end abruptly so I continue to build a list of ideas to work on, but I get kind of lazy about getting down to work. I go through good spurts of long days working on stuff, but I put more time into refining what I'm doing now.

But if the pressure was on, I am confident I could dust off the to do pile and get some new stuff going.

 

[Scataphagos]

Quote from lescor:

I told myself that when I had a million dollar year I'd reward myself with any sports car I wanted, guilt free. It was going to be an Audi R8. But when the time came, I couldn't justify it. Just seemed like frivolous spending.

I remember tracking my net worth to $1MM... then, "Winning $1MM in one year"... First time, I was giddy for about 6 months!

Instead of a big spending splurge, we settled for a $50K Bimmer and looking for a bargain on a high-end house...