Taking $5K to $250K by year end

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Quote from traderyin:

Hey Allen,

Interested in knowing how you decide your entry/general overview of your method.

I understand that disclosing it might be disadvantage to your trading, but I have to try. :D
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Price action as I observe it on a DOM and naked time bar chart. As simple as I can make it.

Thanks for following the Journal.
 
you take 5k to 250k and I'll pay for the audit and that is a promise...! :)

Quote from allenhobbs:

Sorry, I am not going to incur the costs of an audit for those who seek that level of comfort. This isn't an IPO!

At $11,000 net equity, I will increase the trading size to 4 contracts which I expect will commence 4/7/08.

Thank you for following the Journal.
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own corp cpa's...very efficient and honest people but that's a long ways off yet...ah BTW, the Audits rights will be mine! lol
so you can't use the audit in any form or shape without my consent unless you pay me 10 time my cost then! deal?

Quote from allenhobbs:

Okay. Which auditor are you thinking of hiring?
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I applaud you for your transparency.

Particularly since I suspect you have nothing to prove - to anyone but yourself. For me its the return at the end of the day but I think this is your own way of accounting to yourself.

Good luck and I hope you meet your goal!
 
Quote from drsteph:

I applaud you for your transparency.

Particularly since I suspect you have nothing to prove - to anyone but yourself. For me its the return at the end of the day but I think this is your own way of accounting to yourself.

Good luck and I hope you meet your goal!
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Thank you and I hope you enjoy the Journal.
 
Allen,
Just noticed, your first statement is from 3/24. If you don't mind, it will help with the audit if you post your very first statement that shows the 5k initial balance and the date of your first trade from this trial.
good luck
 
Quote from TradStSOX:

you take 5k to 250k and I'll pay for the audit and that is a promise...! :)
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ON surface, 5k to 250k is a massive return! But don't forget the use of leverage. He is actually using the 5k to control ~65-130k notional value of asset. Even creating 250k out of 130k is not an easy feat. Assuming that he keeps the equity growing so the use of leverage is on an increasing scale/level- by the time he reaches 12-13k equity, he can use it to trade 3 contracts....and the effect of compounding + leverage would take care of the rest....stilll, it is quite a difficult goal

I really hope he can achieve it, it would serve as inspiration for manys....
 
Quote from TradStSOX:

Allen,
Just noticed, your first statement is from 3/24. If you don't mind, it will help with the audit if you post your very first statement that shows the 5k initial balance and the date of your first trade from this trial.
good luck
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If we get that far, my broker will be happy to provide your auditors with those statements. I was posting my trades "manually" before I learned how to make screenshots.
p.s. Special thanks to atticus for assisting me in this regard:)
 
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