Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)

Pekelo · Oct 16, 2012

It is nice that you worry about our time management in our lives but some of us do have extra time due to waiting for set ups or already in a position waiting for it to play out. Just so you know...
Also, when something sounds like a very good deal, it is wise to do due diligence before buying that bridge. I know, I have invested with Madoff and Stanford...

Anyhow...

Quote from austinp:

What you're missing is the part about upside negotiable clause.

Thanks for bringing this up, because it addresses a point so far nobody looked at. Why don't we look at the whole deal from the backer's side? An uspide in split for the trader sure has to be a downside for the backer.

So let's say you get founded and start with the 60/40 split. Now if TST is not the backer they also have another split agreement with the backer, let's say 50/50. So both TST and the backer get 20-20% of the profits. Let's assume you doubled the money in a year (excellent performance), so the backer booked a 20% profit. Mind you, the backer only got 20% of a really good 100% return, which itself is kind of low, if I were the backer, but anyway...

So next year, based on your performance, you get the 80/20 split deal. Congrats! Now what does the backer get? Well, let's say he doubles his money at risk for one. And he also gets a worse deal for more risk. If you double the money again in the 2nd year, the backer gets exactly the same amount of profit (this time only 10% after the split) like in the previous year, although he risked twice as much money...

The bottom line is with your upside negotiable cause : It sucks for the backer. In real life, AFAIK, the more money a person manages, the less is his split, but he still makes more money because less % split on more money is still more profit...

Unless I am missing something, and I am happy to acknowledge if/when I am wrong...

sellindexvol66 · Oct 16, 2012

Quote from marketsurfer:

You folks really are living in the land of delusion. If you could consistently post 20% per year returns, you would be ranked among the top money managers of all time. ALL TIME!

oh plz, you know a money manager has a fiduciary responsibility not to take over sized risks.

a private trader can go all in..why am i explaining this to you? man, you know some hedge funds blow that 20% away.

you spit out the most wacky remarks that creates this never ending circus..there are two sides to the slur fest here and magna you know it.

marketsurfer · Oct 16, 2012

Quote from sellindexvol66:

oh plz, you know a money manager has a fiduciary responsibility not to take over sized risks.

a private trader can go all in..why am i explaining this to you? man, you know some hedge funds blow that 20% away.

you spit out the most wacky remarks that creates this never ending circus..there are two sides to the slur fest here and magna you know it.

Go all in and win year after year? Ok whatever you say

Another 20% plus per year, rarely lose trader. Why so angry, dude? Everyone but degenerate gamblers should have fiduciary responsibility to someone, if not just themselves. Yeah, I was invested in a fund that made 75% ONCE. It's not consistent, the edges fade---here are the latest facts, as of today ---big guy.

https://www.hedgefund.net/hfn_public/marketing_index.aspx?template=realtime.html&val=rtime

Not one strategy makes your mythical case. Sure there are outliers, they can make you wealthy

but its never consistent. Only in the minds of micro forex traders and gamblers.

cornix · Oct 16, 2012

Quote from marketsurfer:

Another 20% plus per year, rarely lose trader. Why so angry, dude? Everyone but degenerate gamblers should have fiduciary responsibility to someone, if not just themselves. Yeah, I was invested in a fund that made 75% ONCE. It's not consistent, the edges fade---

If you're right about it, I like it.

sellindexvol66 · Oct 16, 2012

Quote from marketsurfer:

Another 20% plus per year, rarely lose trader. Why so angry, dude? Everyone but degenerate gamblers should have fiduciary responsibility to someone, if not just themselves. Yeah, I was invested in a fund that made 75% ONCE. It's not consistent, the edges fade---here are the latest facts, as of today ---big guy.

http://www.actonsoftware.com/acton/rif/1359/s-0100-1210/-/l-03b3:3b78/l-03b3/showPreparedMessage

surf, i am far from angry. playing word games , characterizing others with your word brush is unethical...imo.

flabbergasted is a better description of how i feel regarding your behavior.

marketsurfer · Oct 16, 2012

Quote from JuniorCTA:

+1

Remember, we are talking about mentors and trading teachers here. Shouldn't their claims be subject to scrutiny?

cornix · Oct 16, 2012

Quote from marketsurfer:

Not one strategy makes your mythical case. Sure there are outliers, they can make you wealthy but its never consistent. Only in the minds of micro forex traders and gamblers.

So you admit higher returns are likely done on small accounts but hedge fund size puts the limit on performance?

JuniorCTA · Oct 16, 2012

Quote from marketsurfer:

Remember, we are talking about mentors and trading teachers here. Shouldn't their claims be subject to scrutiny?

Everyone is different. Someone who has worked hard and found a edge should not have to tell you their edge. They can help/guide in other ways. A teacher with no solid experience/expertise should be subject to scrutiny; and if you truly believe that, you gotta start with public school teachers and college professors before you go hunting "trading mentors"

marketsurfer · Oct 16, 2012

Quote from JuniorCTA:

Everyone is different. Someone who has worked hard and found a edge should not have to tell you their edge. They can help/guide in other ways. A teacher with no solid experience/expertise should be subject to scrutiny; and if you truly believe that, you gotta start with public school teachers and college professors before you go hunting "trading mentors"

Of course, they don't have to do anything. If I had a real edge, I certainly wouldn't be bragging about it here.

interestingly, for the most part, those "hard workers" who have an edge only seem to exist on the internet under aliases, no less. wonder why? you need to remember, i am not talking about non directional strategies, but rather those who claim to trade directionally with a huge positive edge. surf

atticus · Oct 16, 2012

Quote from marketsurfer:

Nodoji demanded a $50,000 payment as ``opportunity cost`` for missing 10 days of real trading in Nodoji`s account. She has also referred to her TA based system as an ATM machine--- in addition to teaching noobs, her carefully crafted online persona as an expert BSD trader would never allow itself to be exposed in a controlled test like the Combine. I am happy to see Nodoji types as they serve as evangelists to keep the money flowing into the market.

surf

Exactly, you need to view it as a form of philanthropy.