The Surf Report--part 2

[marketsurfer]

Quote from EPrado:

Oh Surf.......still waiting:


"
Ok.....but HONESTLY. Do you think what you did, putting you in a position close to blowing out your account was good? "

Yes, a futures account is to take risk with, that's its purpose. You need to push it to the wall when the opportunity is right. Otherwise you'll just churn your life away. If your good, you'll make small profits, if not you'll just slowly fade away-- if you have control over yourself that is-- if not it will be fast.

Do I advocate doing this with your net worth--- no. But with your futures account--yes.

Surf

 

[marketsurfer]

Quote from bwolinsky:

I think he's just concerned that your futures account <b>is</b> your networth or most of it.

Buys at 2363.75, sell, and sellshort at 2396.75.

That would be insane.

 

[eudaemon]

Quote from marketsurfer:

That would be insane.

"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have"

Paul Tudor Jones

"The safest way to protect your wealth is to double it".

Paul Tudor Jones

 

[marketsurfer]

Quote from eudaemon:

"I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have"


Paul Tudor Jones

Of course PTJ would say that, for the rest of us poor humble folks, That ain't gonna get ya far.

 

[shortie]

i would never be able to hold a Short when VIX spikes like that. we had similar spikes in Nov and June, and a larger one in March. Those were the bottoms. Basically, you are betting on a tsunami as far as I can tell.

 

[EPrado]

Quote from marketsurfer:

Yes, a futures account is to take risk with, that's its purpose. You need to push it to the wall when the opportunity is right. Otherwise you'll just churn your life away. If your good, you'll make small profits, if not you'll just slowly fade away-- if you have control over yourself that is-- if not it will be fast.

Do I advocate doing this with your net worth--- no. But with your futures account--yes.

Surf

I agree that when the time is right, you do have to make bigger trades and "go for it"......but not to an extent where your account will be blown out on a loss. That's reckless.....dumb...and no matter how many winning trades ya have, the end result will be the account will be at zero...if not worse.

Your definition of risk is "all or nothing" which tells me that either you are not trading a real account on here, or whatever capital is in the account is your "play money". Similar to the money I take to the race track to bet horses. If I lose it, is no big deal. But to trade a 30 lot overnight you need 150k or so.....and most people who trade 3-6 lots don't trade 150k accounts. So I have trouble believing this whole story.

 

[ElecEquity]

I lurk this thread from time-to-time w/o leaving comments b/c its usually good entertainment. I'm not too sure about Surf's risk management but it's a heck of a trade. Congrats. Don't let it turn to a loser.

 

[marketsurfer]

@ eprado

while i agree with your risk management for 99% of the time--- on occasion there develops a very clear situation with no question what is going to happen-- when this occurs, one needs to push it to the wall or forever live in a land of would of could of should of. this is not a game for the meek or one for scared money. Either you push it, but only when the time is right, or might as well get a salary. The rest of the time is waiting, testing the market and learning.

keeping the same size over and over again is a JOB not what this game is all about.

staying short

surf

 

[marketsurfer]

Quote from ElecEquity:

I lurk this thread from time-to-time w/o leaving comments b/c its usually good entertainment. I'm not too sure about Surf's risk management but it's a heck of a trade. Congrats. Don't let it turn to a loser.

thanks nailing the turning point with huge (relative) size is what all the study and info gathering is all about.

 

[Lights]

Agreed. People go to Los Angeles with the dream of becoming a star not a full time bartender with a part time gig. But only a few end up fulfilling the dream.

Quote from marketsurfer:

@ eprado

while i agree with your risk management for 99% of the time--- on occasion there develops a very clear situation with no question what is going to happen-- when this occurs, one needs to push it to the wall or forever live in a land of would of could of should of. this is not a game for the meek or one for scared money. Either you push it, but only when the time is right, or might as well get a salary.

staying short

surf