Quote from Pekelo:
Did Jack actually post a P/L? I might have to sign off to see that...
Edit: OK, I did log off and saw the upside down file, was kind of funny to turn the laptop upside down.
Anyway, account was at 105K Jack makes 8K and account gets to 104K, what am I missing? Or is it just the upside down nature?
Hey Jack, use Print Screen and copy it to MS Paint. A primitive but very effective way to post screen images and you can black out info with Paint (spraying over it)* and size the image or cut off irrelevant parts...
*in Paint, not on your computer screen
You may be unfamiliar with how the processing of daily trading information works.
FF 1 was intended to show an account system that was primed and ready to go. The accounts were filled with money trasferred from equities accounts into new futures accounts. This is called sweeping. The shot was on Friday before the weekend began.
The buying power is 100,838.56 and that is 102 contracts. You also see the % that will be used for trading is 94% (at the top).
FF 2 was a snapshot taken on Monday. It was after the opening trade. You see the decline in buying power from 100,838.58 down to 100,454 58. You also see a "closed P&L" column with 4,550 in it and a column Total P&L with the same in it. This is the gross profit of one trade that lasted 14 minutes in a 6 1/2 hour trading day.
FF 2 shows how actual trading works and how snapshots of screens "tell the story".
FF 2 shows the commissions are taken immediately and the P&L IS NOT MADE AVAILABLE FOR COMPONDING AT THE TIME THE PROFIT IS MADE.
This is trading 101 and it is unfamiliar to you so far in your trading career. So it goes.
Tuesday arrives and the account is shown again before open. overnight settlement has occurred. The buying power is now 105,004.56 and the contract value has increased to 105 contracts. One settlement has now occurred and the account has grown.
1 day and 1 trade and a change has occurred. As days went, by I wanted to show how adding more trades, doing reversals, and letting the money ride to compound, worked.
AS was shown in two prints, you found out that you cannot trade the profits you made on that same day unless you do something. The something to do is run up the 94% to a high % that adds the 4,550 to the buying power. This could not be explained in any dialogue simply because readers do not know how prints speak or what prints say.
In FF 4 I showed more of the print picture. Here you see the moment of the open short entry: 9:31: Xx seconds. It was late for me.
The short was covered at 9:37:XX. This is chicken feed in profits ($2500).
The second trade was long and had a 1 point advantage over the prior cover. I sold at a tick more than the cover on the short.
This is treading water in a range called chop. trade 1 made 2500 bucks; trade 2 made over 5,000 bucks and the P&L shows 8,225 dollars on the P&L. The print is called "Balances by account" prior prints were just "order entry" prints.
So monday made 4,550 and tuesday made 8,225 or about 12% on capital in two days.
Wednesday started at 114,000 and XXX contracts buying power.
The conclusion I read and commented on shows I do not know how to trade or make money. So be it.
At least you now have the variables to plug into the compound interest formula.
1.12 raised to the 50th power will do it quite nicely for a person trading 1 trade on each Monday and two trades on each Tuesday.
Take that answer and multiply it by the 100,000 initial capital to get annualized ROI. Then take out taxes. and commissions (No can't do that it is aready in the formula.)
Obviously, this cannot be an incentive to do work to learn to trade. It can't be an incentive for making life style changes.
A person read the whole tread and concluded I can't trade; I conclude he told me he can't read or do arithmetic, either.
Now all of you get to go through the rest of the litany you do to prove what you want to prove. Have fun.
Read Gary Smith's book . His one day net got to 900K. And he is self taught; it took 12 years to get profitable for him. I spent 40 days to get profitable at about 25 years old. Now I'm over 80 and all those profits I made by my courtesy to others are for free.
arithmetic can go further.
What if I traded more than just monday and tuesday?
Waht if I did 6 trades in the AM? as you see I just did chop for all of those trades.
What if I traded a whole trend?
what if a traded 6 trends in the AM and six trades in the pm?
What would an annotated chart look like?
What would a completed log look like?
I have posted my annotated charts and my ompleted logs for years and years and years. That is what it looks like. But do I really trade?
To compound you would have to use bigger numbers. 1.12 would be times 4 to get 12 trades a day and the 50 would be 240 for the days in the year.
So, who are full time traders?
They are people who have not learned how to trade as yet. They are people who post their P&L everyday in the ES thread.
At least we found out Pekolo doesn't know how to read prints. Neither does Lucrum apparently.
I asked a lot of people what they wanted to see. Frenchfry just took the trouble to say nothing so I did it anyway.
My prints were really quite funny but no one could even figure out I was demonstrating trading in chop and going in correctly right on the open.
But who gives a fuck anyway?
thanks Joe......
