RM's occasional market calls...

[luisHK]

If the current situation is in fact 4% fees and 150% margin, I need to rethink my general rules. However, if you look at where UGAZ was priced on my entry days (Dec 4th and Dec. 7th), shorting DGAZ performed far better, assuming there's no stealth 4% fee as someone mentioned.

Did u even take this trade ? It seems u didn't face any maintenance margin or fees (a little over 4% a year )
Plus u just reappeared when DGAZ crashed to claim u closed ur position then, nevermind the heat in the meantime
NG is still going up btw, this trade started a few days later would have looked great.

 

[NoBias]

Especially seeing he worked his way out of it, I would make the suggestion that all the fast-to react criticizers back off. Man, do the naysayers come out fast. Everybody has their own style and he doesn't owe you shit. How's that for being real.

I have to agree, it was an ugly trade as RM pointed out.

Averaging down and taking that much heat isn't my style, but no sense to cast stones.

This isn't the typical MS trade, Entry, wide target with no mention of trade mgmt, disappears during heat, with precision after the fact Add's and exits.

RM stated at the beginning he was prepared to Average down multiple times, he posted his entry and his initial add, and it took heat...

Position size, percent of account, etc... wasn't disclosed (nor need it be) for all intents and purposes the trade may only accounted for a fraction of the man's account. No one knows the man's risk appetite or amount at risk for that matter...

So let it go people... give the man a friggin break. He doesn't strike me as someone who needs Internet validation... he posted a trade, it ended up ok, didn't go quite as expected... next...

 

[luisHK]

So let it go people... give the man a friggin break. He doesn't strike me as someone who needs Internet validation... he posted a trade, it ended up ok, didn't go quite as expected... next...

The thread doesn't quite look this way, RM first stated he was in dire straits financially and hoped his calls would attract funds/investors to contact him.
If he indeed took this call with any size more than very very small he would have a clue about borrow fee and maintenance margin (although not sure how it works with different brokers/firms, my experience is with IB), as well as the heat. I took a small position only and noticed all this.

 

[luisHK]

I trade largely without stops btw, and take considerable heat regulary, so don't mind RM's trading style, I wouldn't have even commented on him disappearing during the trade, but RM comments on borrow fees and margin requirements strike as odd.

 

[NoBias]

The thread doesn't quite look this way, RM first stated he was in dire straits financially and hoped his calls would attract funds/investors to contact him.
If he indeed took this call with any size more than very very small he would have a clue about borrow fee and maintenance margin (although not sure how it works with different brokers/firms, my experience is with IB), as well as the heat. I took a small position only and noticed all this.

Dire Straits? I checked RM's post history, I didn't see mention of financial difficulties or solicitation of funds. Is a link available?

I don't follow ET very closely, just too many newbies, charlatans and negativity. RM didn't strike me as fitting in that category. I may be wrong, it does happen.

As an fyi, I wasn't referring to anyone in particular when I posted my comment. The "fast to criticize" caught my attention and I responded to that. I didn't spend much time reading the posts preceding.

I read RM's call, read a friends comments (which I agreed with) noticed RM's add, heat and eventual exist... not my cup of tea, but I don't judge traders styles... it is the negativity which I find difficult to digest... Live is just too short to spend around bitterness.

If it wasn't for a judicious use of the ignore feature, this site would be unbearable. It used to be good for a laugh or two, barely that anymore...

 

[sprstpd]

I read RM's call, read a friends comments (which I agreed with) noticed RM's add, heat and eventual exist... not my cup of tea, but I don't judge traders styles... it is the negativity which I find difficult to digest... Live is just too short to spend around bitterness.

Negativity? How about reality? The trade went almost 100% against the initial entry. Any sane person would not consider this to be a good trade. Now if RM had stopped out and then re-entered higher, then it is a different story. But at face value, this trade was a disaster. I would never give RM money to trade based on this one trade alone.

 

[NoBias]

You aren't going to pull me in any further. just to clarify...

I never said it was a good trade. I don't believe in Averaging down, and I surely allow a trade to go that far against me, but I also don't disparage traders. Everyone who trades makes a bad trade occasionally, I know I have.

I agreed with my friends comments (AD), NOT RM's trade... apples and oranges...

 

[romik]

FFS this is just one trade, equity curve is all that matters, how you get there and whether it can be sustained is all that matters.

 

[luisHK]

Dire Straits? I checked RM's post history, I didn't see mention of financial difficulties or solicitation of funds. Is a link available?

I don't follow ET very closely, just too many newbies, charlatans and negativity. RM didn't strike me as fitting in that category. I may be wrong, it does happen.
...

Check RM's posts in the page below where he explains why he started this journal, there is also mention of capital tied up outside the market earlier in the thread - I didn't recheck the outside links he posted and further posts, but RM later complained that he was piggibacked while no one contacted him (there were 10000contracts traded on a strike (usually quiet) he'd just recommended .
I'll keep on checking this thread anyway, the idea DGAZ would take a big hit with the first coldwave in the US was good.

http://www.elitetrader.com/et/index.php?threads/rms-occasional-market-calls.210020/page-10

 

[NoBias]

Check RM's posts in the page below where he explains why he started this journal, there is also mention of capital tied up outside the market earlier in the thread - I didn't recheck the outside links he posted and further posts, but RM later complained that he was piggibacked while no one contacted him (there were 10000contracts traded on a strike (usually quiet) he'd just recommended .
I'll keep on checking this thread anyway, the idea DGAZ would take a big hit with the first coldwave in the US was good.

http://www.elitetrader.com/et/index.php?threads/rms-occasional-market-calls.210020/page-10

Thank you for link... 5 years ago, But it does put your comments in context.