Grinding it out, day after day

Quote from Dustin:

While I appreciate that some of you guys learned from the PA thread, let's not create a RTM vs. continuation debate here. Corey has displayed that he can make consistent and large profits with RTM, so sit back with your popcorn and hope he shares more details :-)

Great trading Corey!
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rtm... read the market?
 
Quote from lescor:

Wow, amazing. I thought that was a 7 year old ad until I saw the date. I knew his dad was still doing workshops and that he used to help out at them. Sounds like the same bio he was using in 2003. Proves the saying those who can, do, those who can't, teach.

I haven't heard from him in a long time, maybe he's become a 'master trader'. He'll teach you 5 trading systems for only 4 thousand bucks, what a steal.
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I remember reading Tharp's book (the father) some time in the '70s on black jack and card counting. It really worked for a while .
the wife and i paid for a few trips there with our winnings.
But then they increased the decks from 1&2 to 3,4,5,6.
The party was over although there were players (Russell Sands of Turtle fame ) who were playing and winning in spite of the multiple decks.

However they were soon barred when the casinos did not like their
playing style:D
cheers
john
 
Quote from lescor:

IDustin's point was right though as it pertains to newbies, it would be better for them to start out trading with a tailwind instead of always trying to swim upstream. I've always traded from a contrarian angle, it's just what I feel comfortable with.

Some of the stuff I do is liquidity sensitive and as I stated at the beginning of this journal I'm not into sharing specifics.
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i agree with this - when i've helped people along, as a very base, they MUST know about trend trading. it's easier to do, easier to teach, important to know (because so many places / traders do that already), and more forgiving of mistakes.

counter-trend requires discipline to get out fast, BEFORE the trend resumes, and knowing when you're wrong and avoiding getting squashed...which is hard enough for an advanced trader to know, much less a beginner.

i don't share some of my strategies because, like you said, they are liquidity sensitive. when people say, as i've seen on some threads, "you made X%, in 10 years you'll be a gazillionaire (and implying you'll blow up or are not trading)" - i laugh, because they're showing their naivete. for almost every system there's some eventual point where liquidity is an issue. the point is whether it's a few hundred/thousand for an individual trader of an illiquid issue, tens of thousands of a more liquid one, or for an institution, millions.
 
Don't trade stocks but I've been playing around a bit with RTM plays.

Yesterday PUDA ~0.50 cents. Today UAUA entered ~ 19.00 still holding partials for a gap fill.
 
Lescor, do you avoid stocks (highly)correlated with s&p500 in your RTM trading? If yes, what criteria do you use to weed out such stocks (correlation coefficient, visual similarity, etc)?
 
To Lescor,

Just curious about your academic back ground. You had mentioned that you had been a fire fighter...but i am just wondering what you studied in college.. How did you know all these statistics? How complicated are your systems?

Thanks in advance...i have known you since 2003 and also chat with you from time to time on msn...you certainly inspire me. I always tell myself "one day, i will trade like lescor...."
 
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