Grinding it out, day after day

[cygnetnoir]

Quote from 5pyd3r:

I'm a longtime lurker on this forum and recently back to trading full time after about three years out.

Using this thread to introduce myself since it has been an amazing read and figured I might as well resurrect it to see if Mr. Lescor is still around?

Just wondering how this year is going so far. I'm barely getting my feet wet so nothing to report here but how about others subscribed to this thread?

Thanks,

Spy

I'm a longtime lurker as well, and Mr. Lescor and this thread have been a great inspiration to me.

Quote from lescor:

Still around, still trading every day. On pace for lowest year ever, though still better than a real job. My volume is down quite a bit, but things have been decently consistent, and I place a lot of importance on that.

Truly in 'grind it out' mode right now, waiting for intermittent flashes of opportunity and hopefully a better overall environment down the road.

It would be wonderful to be given a view your current "truly in grind it out mode." I'm with Spy in hoping for at least a periodic resurrection of this great journal.

 

[ammo]

Quote from Agassi:

Why are houses in the U.S. and Canada built from wood? In most other countries bricks and cement is used. I really don't get this because wood really burns down fast. On the other hand, very few homes made from brick and cement really burn down.

wood is plentiful and cheap compared to concrete,a lot of countries don't have a choice as the wood is not plentiful,cement homes are great for fire and insulation,cement settles,expands and contracts and leaves ugly cracks, wood ,being several small sticks to make a large structure has much more flexibility, much more attractive than concrete thru time

 

[SatMir]

Quote from lescor:

Still around, still trading every day. On pace for lowest year ever, though still better than a real job. My volume is down quite a bit, but things have been decently consistent, and I place a lot of importance on that.

Truly in 'grind it out' mode right now, waiting for intermittent flashes of opportunity and hopefully a better overall environment down the road.

Do you still use the same system?

 

[ChkitOut]

Quote from lescor:

Still around, still trading every day. On pace for lowest year ever, though still better than a real job. My volume is down quite a bit, but things have been decently consistent, and I place a lot of importance on that.

Truly in 'grind it out' mode right now, waiting for intermittent flashes of opportunity and hopefully a better overall environment down the road.

what is the biggest reason for results in your opinion? volatility? market getting more efficient? fragmentation? something else? just curious.

 

[artfartdart]

i'll let lescor speak for himself but my guess would be, "it's slow as shit."

 

[5pyd3r]

haha yup... feels like volume's fallen off a cliff! And I haven't been around in a while myself so most days it feels like 'where'd everybody go?'

 

[lescor]

Yeah, it's mainly because the market is dead most of the time and I've learned not to push it when it's just not there.

I'm also trading less because I am simply enjoying more time outside of the office and I miss some of the infrequent opportunities that do come up, but I'm ok with that.

 

[artfartdart]

there's this terrible book that i read, millionaire traders: how everyday people are beating wall street (or something like that). and I remember a trader by the name of steve ickow who you might want to check out lescor (you can actually find the book online for free via google).

his style is reminiscent of yours.

 

[lwlee]

Excerpt from PDF which I just browsed on the google.

Q: Is mostly what you do these days tape watching, or are you a
chart reader as well?
A : No. I watch charts too, but I would say Level 2 is primary.
Charts are for confirmation. If the chart looks good, but Level 2
isn’t there, I won’t trade. But if Level 2 looks good, but chart is
shaky, then sometimes I will trade even if the chart is not good.

Uh no, not the same trading style.

Quote from artfartdart:

there's this terrible book that i read, millionaire traders: how everyday people are beating wall street (or something like that). and I remember a trader by the name of steve ickow who you might want to check out lescor (you can actually find the book online for free via google).

his style is reminiscent of yours.

 

[artfartdart]

is that from the ickow piece?

i was more referring to the part where he describes dealing more in illiquid securities, and watching to see if bids/offers refresh before bidding/offering with.