How do those of us build a track record, when we change systems so often?

ElectricSavant

ElectricSavant

What if your terrible with keeping records? If your a good trader and know it, how do you prove it?

The nuances of managing OPM with inflows and outflows surely could mimick a traders path to OPM.

So why must a trader, trade ONE system...ONE method.....One market....FOR TWO YEARS, to convince a fund he is worthy?

If the trader were free to spread his wings and do what he does to make a profit, why stifle him for two years building a track record in a frame?

backtesting means jack....hypothetical is jack....a good trader is real...

Hey HF VP, when searching for talent look beyond the frame. You need more than a degreed text book, you need a street-wise trader that makes money in changing environments "outside of the can". There are a few here in ET, if you would just look.



struggling trading artist
Michael B. STA
 
Because a lot of traders are not honest with others or themselves
Because they want time tested systems to make sure it’s not luck
Because they want the best of the best and very little risk
I hear you that you want your chance. I think a lot of traders here feel the same.
 
Trade through a simulator like Ninja Trader linked to IB and at least you have to be there and click the trades.

In the end YOU are the system, whether you buy one or get it free off the net.

Ninja keeps all your records and at the end of each period you can see what strategies work best.

I have been using it for years and works fine.

It's free for the sim or used to be.
 
You don't need to just trade one of anything. Their ability to categorize you helps them understand and compare your performance and for them to have realistic expectations, especially as it relates to their overall allocations.

Adapting to changing market conditions is important. Making money in different market environments is crucial. If you trade "whatever, whenever", you should describe your style as pure discretionary.

Many of the best of all time were pure discretionary - Soros, J. Rogers, Templeton. These guys will migrate to where the opportunites exist. Keep in mind that, to an institution or HNW investor, "real" also means forming an entity, registering where necessary and getting annual audits.
 
Hey Savant, I have a car for you to buy, without looking at/testdriving it. You have to take my word that it is a very fine car worthy its price, because I am a very reliable cardealer and I have my own word to back it up...

I hope you got my point.

For a HF manager who is looking for talent, the only thing to go by is the trackrecord. Imagine if you LOSE money for him, and investors ask him: so what exactly did you base your decission on when you assigned capital to Mr. Savant? And he would say: he told me he was a good trader and he seemed so honest....

If you have more than one strategies, you have to have more than one trackrecords...
 
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