POLL: What do you do with your excess daytrading profits?

[robbo]

Quote from easyguru:


Why don't you put some money in mechanical futures trading through a system broker. You can trade a long term system like Turtle or Aberration this way.

Retail Mechancial Trading Systems are a very interesting subject.
I think more people would invest in the retail systems if there wasnt so many Scam Artists involved in this industry.
I used to monitor all the system results on futurestruth but lucky found out that the results were incorrect(to put it politely).I also used to log into the Brokers websites who traded the systems and didnt find any systems that performed well over the long run.I was thinking off paying the $3000.00 for I-Master but didnt in the end,which was very lucky because it has been performing very badly for the last 12 months and has easily past its worst drawdown,were most of the traders Trading it bailed out.

 

[robbo]

Check out the latest results of the I-Master,they end on the 9th October 2001,dont you think if you were selling a profitable system it would be worth you updating the results on your website at least every 6 months,personally I would do it every month if I didnt have something to hide,here the link

http://www.trade-system.com/imaster.html

 

[candletrader]

Quote from robbo:

Check out the latest results of the I-Master,they end on the 9th October 2001,dont you think if you were selling a profitable system it would be worth you updating the results on your website at least every 6 months,personally I would do it every month if I didnt have something to hide,here the link

http://www.trade-system.com/imaster.html

Good point... thanks for this, robbo...

 

[robbo]

I would like to hear other Traders opinions/experiences good or bad about the Retails Trading Systems that are for sale.

 

[easyguru]

http://www.trade-system.com/realtime.shtml
Has up to August 02 performance.
Expert suggest you should start using a system immediately after its worst drawdowns.
I think one needs to understand and research the basic logic behind the system and get convinced before buying it. There are lot of con system but also there are good performing system. You can use the basic principal of the system and develop your own system.

 

[robbo]

Quote from easyguru:

http://www.trade-system.com/realtime.shtml
Has up to August 02 performance.
Expert suggest you should start using a system immediately after its worst drawdowns.
I think one needs to understand and research the basic logic behind the system and get convinced before buying it. There are lot of con system but also there are good performing system. You can use the basic principal of the system and develop your own system.

Dont you think $3,000 is a lot of money to pay to get the basic principle.The link you provided states that the I-Master made a total return of 52.6% in 9 months,firstly I would like to see results a lot longer than 9 months,what wrong with providing the results from when it stated trading 1996.Its returns look good for that 9 months but how did it perform for the next 12 months after that,not so well because if it had the majority of Traders trading it wouldnt have bailed out.

 

[easyguru]

I have not researched I master extensively so I can not comment on it. Aberration I am researching for last three month along with other system so I have a fairly good idea about it. As to the price of system if you want to trade it as auto execution through a broker you need to buy it. When you look at the minimum suggested starting equity for some of these system, the cost of system is small. I think this discussion now needs new thread.
The basic problem is when you have excess profit from short term trading methodology what do you do. Also once you develop a certain account size you need to think and find ways to invest your excess profit. This is not a solution for new traders( in fact this is not a problem for them that is what to do with excess profit). So one needs to look at a long term trading strategy to supplement your current style. It is also a step in your graduation as a trader to higher level.
The other thing is that most traders including J Livermore and many Market Wizards tried to invest excess profit in other activities and most of them have not been very successful according to their interviews. So you might as well invest in something which you understand.

 

[robbo]

Quote from easyguru:

I have not researched I master extensively so I can not comment on it. Aberration I am researching for last three month along with other system so I have a fairly good idea about it. As to the price of system if you want to trade it as auto execution through a broker you need to buy it. When you look at the minimum suggested starting equity for some of these system, the cost of system is small. I think this discussion now needs new thread.
The basic problem is when you have excess profit from short term trading methodology what do you do. Also once you develop a certain account size you need to think and find ways to invest your excess profit. This is not a solution for new traders( in fact this is not a problem for them that is what to do with excess profit). So one needs to look at a long term trading strategy to supplement your current style. It is also a step in your graduation as a trader to higher level.
The other thing is that most traders including J Livermore and many Market Wizards tried to invest excess profit in other activities and most of them have not been very successful according to their interviews. So you might as well invest in something which you understand.

I agree with you that the cost of the System is small compared to the minimum starting equity.That makes it even more important in not getting ripped off in the first place because if you buy a System from a Scam Artist,not only will you loose your 2 or $3,000
(cost of system)you will loose the majority of the minimum starting Equity as well.If these Systems were 100% Genuine the results would be displayed from 1996.
It goes without saying that you must invest in something you understand otherwise you might as well give the money away to charity because you wont have it for very long.

 

[zdreg]

Quote from dougcs:

I'm reminded of a story told to me by a contractor from New York State who was building a "fire house" for a wealthy client. This individual aquired a fire engine at an auction and obviously needed a fire house to put it in. It was for his grandchildren to play in.

At the entrance to his estate was the sign, "Too much is not enough" , a sentiment shared by my wife.

As for me, I'm not doing that well, but excess profits go into utility stocks, REITs, royalty trusts, and bonds and soon a Mikimoto pearl necklace (guess whose idea that was).

DS

perhaps you can believe that you only heard the word mikimoto

http://money.cnn.com/popups/2006/fortune/future_nextyears/3.html

 

[Nugget]

I just started trading in Sept and I am down 5 grand, but starting to turn it around now and making money 3 out of 5 days..So I think in a year or so I might have a good amount to take out. I am going to buy my local bar that way I have somewhere to go after work..