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Grinding it out, day after day
- Thread starter lescor
- Start date
Quote from lescor:
LOL, nope. Actually, I did make some decent progress on one new strategy, but this thread wasn't the motivation.
Ok, so this is probably just a distraction then - maybe it would be better to switch to a private trading journal for yourself for the next 12 months, and see if that helps better than this public journal did.
Quote from EricP:
I don't believe Corey offers a bootcamp as he has already pointed out that his trading is in liquidity sensitive issues, and encouraging competition (by disclosing more detailed information) would reduce his likely profitability.
Actually, that might be the clue in itself => If you have traded many years, and have become very knowledgeable with trading methods that have been successful for you, <i>keep them close to your vest</i>, so that your trading edge is not diluted by other traders - ultimately resulting in the loss of profitability for all such traders (see Don's thread as a reference; pair trading is another example => if lots of people know about it, then you can bet its now just another useless strategy that doesn't work)
I thought it was the other way around i.e. if a lot of people use it, then it becomes a self fulfilling prophecy just like MACD, cup with a handle break out, etc. etc.
Quote from EricP:
I don't believe Corey offers a bootcamp as he has already pointed out that his trading is in liquidity sensitive issues, and encouraging competition (by disclosing more detailed information) would reduce his likely profitability.
Actually, that might be the clue in itself => If you have traded many years, and have become very knowledgeable with trading methods that have been successful for you, <i>keep them close to your vest</i>, so that your trading edge is not diluted by other traders - ultimately resulting in the loss of profitability for all such traders (see Don's thread as a reference; pair trading is another example => if lots of people know about it, then you can bet its now just another useless strategy that doesn't work)
word of wisdom.
and for those of you who continue to seek exact science of what lescor does.....give it up already. Even if he gave you his strategies to the fullest details, you probably couldn't achieve the same success, if any.......why? you are not lescor.
Quote from forsalenyc:
word of wisdom.
and for those of you who continue to seek exact science of what lescor does.....give it up already. Even if he gave you his strategies to the fullest details, you probably couldn't achieve the same success, if any.......why? you are not lescor.
Agreed. I had a 1/2 hour convo with Echo's operations manager a couple of weeks ago. Corey came up as one of the few who were doing really well. She didn't go into any strategy details, but she said she met Corey some time ago, and called him "very interesting". She said he is a person who, when you meet him, you can immediately tell he approaches everything he does with an unusual intensity which allows him to excel at it.
This thread is extremely inspiring, but no one should try to mimic him. It should inspire people to realize it is definitely possible if you find a few strats which work for you. Or even just one if you're very good at it.
+42k on the week. 471,000 shares traded. Daily pl -6, +2, 0, +49, -3. Forth best week of the year and best since July.
Aside from Thursday, it was a pretty crummy week. Got steamrolled in PPO on Monday and worked over pretty good in CYH today. Thursday was an odd anomaly, I didn't do anything different, just got a number of really good set ups that all worked. I think someone somewhere had some calculations wrong and got picked off.
I had over $3M in positions going, which is a heavy day for me this year. I was pretty happy with how I traded it, kept cool and resisted the urge to book profits too soon. When my trigger finger got itchy and I wanted to override the system, I just stepped away and took a break. I've seen similar setups before and while sometimes great profits do melt away, the odds and my gut were screaming "don't fudge it up!"
Aside from Thursday, it was a pretty crummy week. Got steamrolled in PPO on Monday and worked over pretty good in CYH today. Thursday was an odd anomaly, I didn't do anything different, just got a number of really good set ups that all worked. I think someone somewhere had some calculations wrong and got picked off.
I had over $3M in positions going, which is a heavy day for me this year. I was pretty happy with how I traded it, kept cool and resisted the urge to book profits too soon. When my trigger finger got itchy and I wanted to override the system, I just stepped away and took a break. I've seen similar setups before and while sometimes great profits do melt away, the odds and my gut were screaming "don't fudge it up!"
Quote from jnbadger:
Agreed. I had a 1/2 hour convo with Echo's operations manager a couple of weeks ago. Corey came up as one of the few who were doing really well. She didn't go into any strategy details, but she said she met Corey some time ago, and called him "very interesting". She said he is a person who, when you meet him, you can immediately tell he approaches everything he does with an unusual intensity which allows him to excel at it.
This thread is extremely inspiring, but no one should try to mimic him. It should inspire people to realize it is definitely possible if you find a few strats which work for you. Or even just one if you're very good at it.
Corey - do you ever fear that the firms that you have your accounts at are looking at your trades and trying to decipher your strategies?
...http://www.youtube.com/watch?v=QI58wj4b4g0. corey, do you drink dos equis, great weekQuote from jnbadger:
Echo's operations manager .....she met Corey some time ago, and called him "----very interesting"---------. She said he is a person who, when you meet him, you can immediately tell he approaches everything he does with an unusual intensity which allows him to excel at it.---.
Quote from ammo:
...http://www.youtube.com/watch?v=QI58wj4b4g0. corey, do you drink dos equis, great week
That is excellent. I love those commercials.
Quin, I seriously thought twice after posting that, as I thought I may have crossed a line by saying it publicly. I can't speak for Corey, but I've been with Echo for years and I trust them. It has always seemed that the owners, Jeff and Rob, realized long ago that the idea of sharing strats and tactics is a VERY BAD business practice. In any business.
The operations manager has a basic understanding of strats; OPGs, mean reversion, trend following, etc. At least that is the impression I get. But there is no way she would ever give anything away.
It's very simple. They are a big firm, and if word got out that they would give anything away, traders wouldn't go there.
Corey, I apologize if I crossed any lines. Excellent management of Thursdays conditions.