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Grinding it out, day after day
- Thread starter lescor
- Start date
Quote from shortie:
overall, do you have better success with Longs or Shorts? Because the market has an upward bias, the shorts may not RTM as well as longs.
is your max position on a short smaller than on a long position in the same stock? the potential loss on a short is much higher than on a long.
MXB is a good example of the short that would not cooperate. here are some crude estimates for your position size on that stock: the intraday move was ~10%. let's assume that you entered half at the open and the second half when it went 5% against you. so this gives us 160K max position size on MXB on that day (i would guess it was even larger because you mentioned that you were in a revengeful mood).
do you ever entertain the possibility that a stock like MXB could jump 200%? of course if you drop 300K once every 10 years, it is totally fine with the profits you have been generating. still, are you prepared for such a possibility? for example, do you have 300K at Echo to be able to absorb the loss from your own funds?
Quote from lescor:
Just so no one can accuse me of only posting on the good days.... Today was #5 worst of all time. -$76,000
On the wrong side of everything, especially AFL. That thing took $31,000 from me in 3 accounts, 3 different strategies. It WAS a decent month before today.
This was from Trader P/L 2009.
Quote from shortie:
MXB is a good example of the short that would not cooperate. here are some crude estimates for your position size on that stock: the intraday move was ~10%. let's assume that you entered half at the open and the second half when it went 5% against you. so this gives us 160K max position size on MXB on that day (i would guess it was even larger because you mentioned that you were in a revengeful mood).
do you ever entertain the possibility that a stock like MXB could jump 200%? of course if you drop 300K once every 10 years, it is totally fine with the profits you have been generating. still, are you prepared for such a possibility? for example, do you have 300K at Echo to be able to absorb the loss from your own funds?
what 160k size? you are ridiculous
Quote from Shreddog:
Lescor, I too want to know when you are going to .....?
sorry Corey.
Lescor, eh sorry, Corey:
I too want to know your opinion on global warming. How about world peace and African famine?
Do you happen to know how to stop the nextdoor neighbor's dog from barking all the time?
Quote from shortie:
MXB is a good example of the short that would not cooperate. here are some crude estimates for your position size on that stock: the intraday move was ~10%. let's assume that you entered half at the open and the second half when it went 5% against you. so this gives us 160K max position size on MXB on that day (i would guess it was even larger because you mentioned that you were in a revengeful mood).
do you ever entertain the possibility that a stock like MXB could jump 200%? of course if you drop 300K once every 10 years, it is totally fine with the profits you have been generating. still, are you prepared for such a possibility? for example, do you have 300K at Echo to be able to absorb the loss from your own funds?
Losing only 16k truly shows why Lescor is a professional comparing to armatures on this site. His daily P/L is in the range of +/-10K, so losing 16K on the bad trade that runs away from him shows his superior good position size and risk/mental control.
A few weeks ago, he lost 16K on SWM trade is also a good example. There were at least two struggling traders with daily P/L of +/- 500 on this site, they lost 15k and 12k respectively on SWM trade, this would be equivalent of Lescor losing 200K or more. Think about it and learn .