Puretick.com

Quote from Ebo:

I just took a look at this Waxie wanna be, take a look @ his Maxspam strategy, whatever that is it lost $1230 on Friday.

http://www.puretick.com/trkrecord.html

How does a newbie make back this kind of a drawdown?
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5 ticks (and $25 bucks) at a time my friend. Seeing that doesn't make me want to make fun of them though, it makes me kind of somber, telling your clients to suffer through that kind of drawdown (which is going to cause a certain amount of pain and headache) is just bad advice and mentoring.

(-$1230 from a trade that'll make you $300+ ... NUTZ!)

I may have to make a guest appearance in this room and watch this chicanery live.


ebo
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You might find the experience rather annoying.

Their transcripts read like a bad session of Elite Trader, without the good stuff and actual knowledge sharing that you might get from a thread if you look hard enough.

Just a lot calls from the traders who are logged-on, and then you here them tallying up their 5 tick wins and 15 tick losses, with some guy exclaming "I'm down 40 ticks!" as if it's a major accomplishment with that R:R ratio, and he's ready to go get a beer (well, he might be, and some aspirin).

Jimmy
 
Quote from Ebo:

Jimmy:

What name do you lurk in the room as?
I am gonna sign up tommorow, we can "learn" how to do MAXSPAM together!

What about fading them, we can start a room called "Real Schtick"!

ebo
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Nah man, they publish their chat logs, it's there for everyone to read (between the lines).

I can't do the chat room thing, that would be going too far back in my trading evolution.

Good luck with those MAXSPAM trades though. :p

Sheesh, to tell you the truth, I wish I could get 10 guys to give me $300 bucks a month to tell them when to take a trade ... :) :D - and to hold it with an inverted risk reward ratio for MAXIMUM LOSS.

Yikes!

(No) good trading (around here),

Jimmy Jam
 
Ebo,

First of all newbies shouldn't be trading systematic setups like MaxSpan with small accounts. We have all types of traders in our room. Newbies, pros and guys in between, and that setup is NOT called for newbies but included in the track record to show the results.

Ok, you asked how a newbie can make up the loss of a big stop when trading a system? By exercising some mental discipline, sticking to a plan and executing their trades the next day with a fresh perspective on the market. But what do we know about newbies? After taking a big stop they will probably not trade the next days huge winner.

Take a look at the equity curve setup of any trading strategy backtested over time. See those jagged up and down movements, they represent gains and losses (stops). If you can find one that goes straight up, I'll be all over it like white on fried rice.

Don't think like a newbie. Most newbies jump around from method to method, taking the initial draw down then switching to another method right when the run up comes in. I've done a lot of systematic trading and back testing. When you start a new method you will generally start in a draw down since you have no previous 'buffer' profits. Sometimes you'll get lucky and start on the good days but that almost never happens.

unfortunately the advice you and I post on the ET forums will be ignored by most as their holy grail search continues. Hopefully some people will benefit.

CajunSniper / Puretick.com Administrator-Trader
 
Quote from Spectra:

sorry.. wrong message. thats what I get for having 20 windows open at once!

Cajun
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lets all hope thats not the way you trade too. wonder if the CFTC knows your posting mistakenly with 20 windows open??

Really really stupid.

maxi
 
Quote from Spectra:

sorry.. wrong message. thats what I get for having 20 windows open at once!

Cajun
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lets all hope thats not the way you trade too. wonder if the CFTC knows your posting mistakenly with 20 windows open--while charging for advice?

Really really stupid.

maxi
 
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