SpreadProfessor Clients - Thanks !

This arguement that spread trading and technical analysis are not compatible, as was suggested in a previous post, just doesn't hold water. I have plenty of client references accumulated over the years in live markets that say otherwise.

I have come to learn over the years that the actual design and construction of the spread combination is at least as important as the indicator package and rules that we use, and I really emphasize this aspect with my clients.

There really is so much more to spread trading than NOBs, Bobl/Bunds, first month to second month calendar spreads, and crack spreads.
 
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Hello i am back. I was referenced recently for calling out bone on cmx vs lme gold arb and the TT spark spread quackery which appears to have been removed from his website. I also called out bone on his claim that he made 500k on the gasoil crack in previous threads,

In seeing that others are vigilant in restoring integrity on the forum, i want to make a comment on the advantage statement bc i feel Baron gave bone a get out of jail card bc of baseless comment from some kiddy broker.

Bone is correct in saying that it is normal for cash to be removed from a trading account to an equity account in prop trading firms. However, this point does not confirm he actually made that money. There are a few possible other scenarios:

1.) The 500k was cash deposited as a way to prefinance margin under his agreement
2.) Bone personally deposited that money and withdrew it as it was not necessarily from trading profits
3.) Bone had losses in other accounts that needed to be covered
4.) A combination of all the above
5.) Bone actually made 50ok

we can deduce that there was fx journals going through as he had debit balances in usd seg and gbp. Those neg balances were cleared. The total equity was wcloser to 430k...also i dont know how he lost 11k gbp trading gasoil. So there were obviously other things going on in the account.

yeoldrefco is correct in saying that the statement proves ntg. The only way to know what you made is that broker statements normally show somewhere a month to date pnl which is based on closeouts. The statement shows mtd commission but strangely enough the mtd pnl is missing.
there is only two ways to prove pnl and that is to show the prior months mtd or ytd pnl on the previous month end statement. Even then that cud be tricky if a person is operating with multiple accounts. The fact that this statement itemization is missing is unsurprisingly very fishy.

it is sad to see that this is still going on....naive traders paying 7.5k to learn how to chart flies in esignal, not knowing that tail risk in spread trades can be more dangerous than outrights w/out good risk metrics.
 
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You should undercut bone's offering. I keep seeing $7.5k repeated over and over again like it's supposed to mean something or even be a large figure. The self-professed ET wizards/millionaires, who I see constantly bashing and insulting people who are "less intelligent" than themselves or whenever they are asked a question for clarification, suddenly have a heart of gold and care about these very same people.
 
Junior_CTA said:
You should undercut bone's offering. I keep seeing $7.5k repeated over and over again like it's supposed to mean something or even be a large figure. The self-professed ET wizards/millionaires, who I see constantly bashing and insulting people who are "less intelligent" than themselves or whenever they are asked a question for clarification, suddenly have a heart of gold and care about these very same people.
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Well esignal has tutorials on how to chart spreads for free. You can literally create any combo you want and apply any technixal indicator to it.

When my trading career is over, as it is far from, i may just go ahead and undercut but the only guys who teach actively are those who are not actually generating pnl. There is a reason i post scarcely

im not bashing anyone, if see an apple and someone tells me its an orange- im going to call you out bc all my comments thus far ARE STRICTLY BASED ON FACTS. Fact is, cash movement is not P&L on a broker statement. Neither is overall equity bc it takes into consideration cash movements. The item that says MTD pnl which is based on realized trades is missing from the statement. So if someone says, i made 500k on an account that has 430K, i am saying the real evidence of PNL has been removed so ibwould question the authenticity of the claim

pls, if you step to me, come correct with facts not threats
 
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Huh? Threats? Where?

A). That's a daily statement. Not a monthly.
B). The MTD commission looks like the fees from 24 lot open trade ie. 1.5 per turn.

Go open an account with rjo, advantage, abn or anyone who uses sungard for backoffice/risk software. This is how it's displayed. Get over it, don't believe me? Open an account with advantage and find out

ballsofgold said:
Well esignal has tutorials on how to chart spreads for free. You can literally create any combo you want and apply any technixal indicator to it.

When my trading career is over, as it is far from, i may just go ahead and undercut but the only guys who teach actively are those who are not actually generating pnl. There is a reason i post scarcely

im not bashing anyone, if see an apple and someone tells me its an orange- im going to call you out bc all my comments thus far ARE STRICTLY BASED ON FACTS. Fact is, cash movement is not P&L on a broker statement. Neither is overall equity bc it takes into consideration cash movements. The item that says MTD pnl which is based on realized trades is missing from the statement. So if someone says, i made 500k on an account that has 430K, i am saying the real evidence of PNL has been removed so ibwould question the authenticity of the claim

pls, if you step to me, come correct with facts not threats
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Junior_CTA said:
Huh? Threats? Where?

A). That's a daily statement. Not a monthly.
B). The MTD commission looks like the fees from 24 lot open trade ie. 1.5 per turn.

Go open an account with rjo, advantage, abn or anyone who uses sungard for backoffice/risk software. This is how it's displayed. Get over it, don't believe me? Open an account with advantage and find out
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The only real caveat here is that US futures exchange-registered proprietary trading firms will have a different looking year-end statement than an individual account. And that US futures prop firms are forbidden from taking employee funds - only the firm's capital can be at risk. There's a circular on the CME website that describes the account and employee/trader requirements in order to register with CME as a member electronic trading firm. ICE and Eurex and NYSE/Euronext have very similar requirements. At the beginning of the year the prop trader starts at zero and at the end of the year the prop trader's balance is swept back into the firm's master account. And there is no movement of funds back and forth between sub-accounts or between master firm account and sub-account over the course of a trading year. There is a separate statement generated by the firm's own internal accountant that records trader draws, expenses, etc.. But the P&L on the prop trader's sub-account statement from the FCM never reflects those withdrawls over the course of a trading year. And the prop trader never has access to those funds directly and he can't move them around. The FCM would not allow it because the employee/subcontractor is not authorized to do so. Furthermore, the employee/ subcontractor prop trader never sees or has access to the firm's master account. This has been established practice for FCM's clearing proprietary futures trading firms since the 1990's. And all major FCM's use SunGard and all the statements do in fact look pretty much the same regardless of FCM. And all major FCM's service exchange-registered proprietary futures and options trading firms.
 
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I don't care if you're charging $750 or $75,000. You're avoiding the issue because you're a scam. You're using the DR of $486K as proof of PNL when it was simply representative of the net liq (less a few thousand) in the account. Meaningless.

Suppose your backer had deposited $1MM in the account some time in 2006. At years-end they say fuck it, nice try, and they pull the $1MM. A debit of $1MM would appear on the run. That's not PNL.

Baron comes on here to defend his livelihood and tells us we're a broken record... then you come on here with the same repetitive BS. I haven't looked at comms as it's immaterial to the $486K.

The fact is that you would have no problem showing PNL if you had actually made any money in that Advantage account. Don't misrepresent shit as fact and it expect it to fly.
 
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convexx said:
I don't care if you're charging $750 or $75,000. You're avoiding the issue because you're a scam. You're using the DR of $486K as proof of PNL when it was simply representative of the net liq (less a few thousand) in the account. Meaningless.

Suppose your backer had deposited $1MM in the account some time in 2006. At years-end they say fuck it, nice try, and they pull the $1MM. A debit of $1MM would appear on the run. That's not PNL.

Baron comes on here to defend his livelihood and tells us we're a broken record... then you come on here with the same repetitive BS. I haven't looked at comms as it's immaterial to the $486K.

The fact is that you would have no problem showing PNL if you had actually made any money in that Advantage account.
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Baron said:
I think you've both stated your opinion on this about 100 times already. I'm not sure why you keep making the above statements over and over like nobody has heard it before.
We get it. We know your opinion. You've made that loud and clear.... again... and again.... and again.
As a moderator, all I asked of both sides last week is to bring in a credible third party expert who will state his real name and position in the industry, and then state his opinion on the matter to back up your opinion. Bone has done this.
Nobody else has. If his statement is so screwed up then you should have no problem whatsoever having one of your futures prop trading contacts chime in and contribute. Bone was able to have someone do it within hours. It's been 4 days now and not one person with an opposing opinion has come up with an expert to throw in their two cents to provide another viewpoint.
So, if all you're going to do is just throw stones at the guy from behind an alias, and provide no credible person to back you up your opinion like I asked, then that is just bullshit trolling and I'm not allowing those comments to continue on any longer. Period.
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You are referring to your friend, Pat Agate? The guy representing himself as a partner at Prime -- the prop-firm with $4MM in partner eq? More fiction; just like the $486K. I don't care if Warren Buffett blesses the thing... it's not PNL.
 
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