my 1st protege

[dumb_mother]

my 1st protege started trading today- i'm going to start a thread on his behalf. i'm not sure if i'll continually post or not, but i'll try at least for a while. all trades are treasury futures yield spreading.

day 1:

37 contracts traded
+750$

here is an old article about nob trading which is one of the trades we use:

http://www.allbusiness.com/personal-finance/investing/322808-1.html

 

[dumb_mother]

day 2

Volume 67
P&L 1187.5

 

[dumb_mother]

today was actually a shitshow at the end- 3 errors in less than a minute that somehow ended up making money

first left an order in that got filled while he wasn't paying attention
then when he went to scratch he doubled down on the position instead of taking it off
then when he went to take his spread off he texas hedged buying one side back then instead of selling the other he bought the other again doubling his position in a naked unhedged long, but luckily was able to make about 12 tics off of that.

hopefully we can get rid of amateur hour sometime soon- but that being said it was day 2... the best we can hope to do is not repeat our mistakes too often

 

[cstfx]

never mind - should have read the linked article first

 

[dumb_mother]

yeah my protege is just trading yield spreads (ideally although apparently sometimes the texas comes out in his hedging)

 

[dumb_mother]

Volume 61
P&L 367.15

joyriding cost him a few great trades early and then i made him flatten up as the rumors took hold about greece- with the resignation lending credibility to the rumors just didn't want to have any part of a potential huge move.

 

[dumb_mother]

10-Sep 102 $859.38
13-Sep 121 $843.88
14-Sep 234 $1,484.00

 

[Lornz]

How much did you end up charging?

 

[dumb_mother]

i'm backing him so i get a share of his profits- he's a longtime friend of mine who i actually started training in may.

 

[dumb_mother]

15-Sep 209 $820.31
28-Sep 106 -$3,398.44

i was on vacation so he had to wait to trade til i got back.