roflmao...that's some funny shit, and the ONLY reason why I luv ET...
I'm Looking for Traders to Invest With
- Thread starter Doug Allen
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roflmao...that's some funny shit, and the ONLY reason why I luv ET...
Happy to bear a ray of sunshine all around Billybob.
It makes you laugh and Pekelo now knows that his 1M is being put to excellent use.
All thanks to ET ...Entertainment Trivia
regards
f9
PS Make sure that you put your name forward with Doug for a chunk of that million dollar account.
Are you claiming that anyone who has any decent intraday edge can easily scale up by moving out the time frame? An absurd claim by anyone who claims they have an edge.
Look ES Whiz, if its such an easy job why bother selling services? Havent had a prob with your stuff in the past but you are starting to smell.
<i>"Are you claiming that anyone who has any decent intraday edge can easily scale up by moving out the time frame? An absurd claim by anyone who claims they have an edge."</i>
Depends on the edge. If you mean counter-trend scalping fade moves, etc for narrow reward to risk? No... that ain't scalable.
If you mean buying support and selling resistance to hold for big gains? Yes, that is scalable. There are periods of treading sideways or drawdown during congested markets, followed by periods of accelerated profit during periods of trendy = directional movement.
What part about that is so foggy? Buying clustered support on a 233 tick, 5min chart or 60min chart is the exact-same act for entry selection. How those positions are managed is completely apart with no relation. Hold them for minutes, hours or days as trade management method dictates.
Or did you mean to imply that swing trading SPY ~ SPX positions off bigger charts while holding for days or weeks never works for anyone?
Depends on the edge. If you mean counter-trend scalping fade moves, etc for narrow reward to risk? No... that ain't scalable.
If you mean buying support and selling resistance to hold for big gains? Yes, that is scalable. There are periods of treading sideways or drawdown during congested markets, followed by periods of accelerated profit during periods of trendy = directional movement.
What part about that is so foggy? Buying clustered support on a 233 tick, 5min chart or 60min chart is the exact-same act for entry selection. How those positions are managed is completely apart with no relation. Hold them for minutes, hours or days as trade management method dictates.
Or did you mean to imply that swing trading SPY ~ SPX positions off bigger charts while holding for days or weeks never works for anyone?
I just wanted to give everybody and update.
I apologize for everybody who sent me a PM that I haven't responded to yet. I wasn't really prepared for how many people responded. I thought I would have time to correspond with everybody individually this week but it just didn't work out.
And I would like to thank all of you who have expressed interest, and who have responded positively to what I'm thinking about doing. I've realized that one of the things that's most fulfilling for me is working with people who are like minded, and who focus on how to make things happen instead of why things can't happen.
Now here's where we're at...
I'm just about to put the finishing touches on the application process I've been working out. This will be the first step in the process of finding people to work with. After reading the responses and really getting to know a few of you, I understand more than ever that this idea has a lot of potential.
I will be posting an update later tonight on how you can become part of the process. We are going to have no choice but to cut off the number of applicants after we reach a certain number, so if this idea interests you please make sure you respond right away instead of putting it off.
And if you're the type of person that who can't see the benefit of this, that's fine too. I would just ask that you don't clog up the works by taking one of the spots in the application process.
Like I said in the OP, this isn't for everybody. But if you really believe in yourself, and are truly committed to taking your career to the next level, and have talent, then this might be an opportunity that's right for you.
Doug
I apologize for everybody who sent me a PM that I haven't responded to yet. I wasn't really prepared for how many people responded. I thought I would have time to correspond with everybody individually this week but it just didn't work out.
And I would like to thank all of you who have expressed interest, and who have responded positively to what I'm thinking about doing. I've realized that one of the things that's most fulfilling for me is working with people who are like minded, and who focus on how to make things happen instead of why things can't happen.
Now here's where we're at...
I'm just about to put the finishing touches on the application process I've been working out. This will be the first step in the process of finding people to work with. After reading the responses and really getting to know a few of you, I understand more than ever that this idea has a lot of potential.
I will be posting an update later tonight on how you can become part of the process. We are going to have no choice but to cut off the number of applicants after we reach a certain number, so if this idea interests you please make sure you respond right away instead of putting it off.
And if you're the type of person that who can't see the benefit of this, that's fine too. I would just ask that you don't clog up the works by taking one of the spots in the application process.
Like I said in the OP, this isn't for everybody. But if you really believe in yourself, and are truly committed to taking your career to the next level, and have talent, then this might be an opportunity that's right for you.
Doug
Simply Check my posts going back to 2002 or earlier and track my track record. I have been the most consistent trader (long or Short) on this board going back. The one wrong trade is my 200 oil call but I still feel we'll get there. Any way if you care to waste our time we will call you out.
Save your trading class. If you need a novice try the NY Times. Real traders are here on this board.
20 million is my max. 2 million is my minimum & 1% is my fee.
Just last week I took the BAC Trade to the mat and back. Last night I called the 6500- 6700 levels and today its all the talk on the news.
I am calling you out.
P.S. Everyone else check the posts and see the trails.
SRS short trade is still on the table.
Save your trading class. If you need a novice try the NY Times. Real traders are here on this board.
20 million is my max. 2 million is my minimum & 1% is my fee.
Just last week I took the BAC Trade to the mat and back. Last night I called the 6500- 6700 levels and today its all the talk on the news.
I am calling you out.
P.S. Everyone else check the posts and see the trails.
SRS short trade is still on the table.
One element of Doug's plan is something that may gain traction in the wake of the recent ponzi.
The client retains legal control of the trading account much like many CTAs operate. The trader gets a limited power of attorney to trade the account avoiding theft of funds or or other shenanigans
I could see the evolution of HNW people and family offices hiring a few traders on this basis perhaps trading exclusively for one client. The downside involves the risk of "piggybacking" as their is complete transparency (client replicates the traders trades or reverse engineers his/her strategy).
Here is another consideration, traders will change their behaviour when switching from trading 100% for themselves to 50% for themselves and more still going to 20% split.
The link below from the MarketSci blog explains beautifully why professionally managed money consistently under-delivers (this refers to mutual fund industry but the same incentive distortion applies to managed money). It's a post from today.
http://marketsci.wordpress.com/
The client retains legal control of the trading account much like many CTAs operate. The trader gets a limited power of attorney to trade the account avoiding theft of funds or or other shenanigans
I could see the evolution of HNW people and family offices hiring a few traders on this basis perhaps trading exclusively for one client. The downside involves the risk of "piggybacking" as their is complete transparency (client replicates the traders trades or reverse engineers his/her strategy).
Here is another consideration, traders will change their behaviour when switching from trading 100% for themselves to 50% for themselves and more still going to 20% split.
The link below from the MarketSci blog explains beautifully why professionally managed money consistently under-delivers (this refers to mutual fund industry but the same incentive distortion applies to managed money). It's a post from today.
http://marketsci.wordpress.com/
What you are describing is a RIA Registered Investment Advisor running a hedge fund...
I think that the onset of old pros getting their series 65 -IA licenses will spark the return of market buying. I like the offer here even though I can't take advantage of it.
Someone who is willing to let us trade their money is giving a talent a stage... I hope they succeed...
I like a citi bank trade at 3.75 to 4.75. for next week. I would buy the banks in the regions effected by the realestate downturn.
SOmeone tell Shapiro that she should grandfather all the old traders who left the market in 2005.
Not enough investment professionals to sell sector stock.
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