The Surf Report

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Quote from JimmyJam:

Good trade JSSPMK, well executed in a very logical and consistent manner. Great profit taken when offered (much more than I would take) and principal is now protected with a breakeven (+ x number of ticks) protective stop.

Good trading,

Jimmy Jam

It's just a paper trade, but TY! I am not an ignorant person.

The point of this exercise is not to beat Surf or to bring his morale down. Not at all. He voiced his opinions on common technical analyses, though he, himself seems to incur constant draw downs, quite major ones, by not using TA and using his proprietary method. Fair enough. He keeps saying that TA is subjective, hence it's unreliable, but what he fails to see is that today's markets can be treated as pure TA based. I don't quite understand how he established that it is unreliable, perhaps he couldn't come up with a winning method?

I, personally, can and actually do post real-time calls at least 2-3 times per week on ET for no real benefit to me, I just do it, so others can post their opinions on why they have taken an opposite side to me, if I see that they might have a stronger argument vs my position, I might reconsider staying in. ET is great for exchange of ideas and general banter on markets (and women).

So, let's carry on doing what we do without insulting one another, karma is a big thing. I would never ever say that something is undoable if another person proves me wrong, I mean a fact is a fact, but some will argue that a fact doesn't exist :)
 
Quote from JSSPMK:

It's just a paper trade, but TY! I am not an ignorant person.

The point of this exercise is not to beat Surf or to bring his morale down. Not at all. He voiced his opinions on common technical analyses, though he, himself seems to incur constant draw downs, quite major ones, by not using TA and using his proprietary method. Fair enough. He keeps saying that TA is subjective, hence it's unreliable, but what he fails to see is that today's markets can be treated as pure TA based. I don't quite understand how he established that it is unreliable, perhaps he couldn't come up with a winning method?

I, personally, can and actually do post real-time calls at least 2-3 times per week on ET for no real benefit to me, I just do it, so others can post their opinions on why they have taken an opposite side to me, if I see that they might have a stronger argument vs my position, I might reconsider staying in. ET is great for exchange of ideas and general banter on markets (and women).

So, let's carry on doing what we do without insulting one another, karma is a big thing. I would never ever say that something is undoable if another person proves me wrong, I mean a fact is a fact, but some will argue that a fact doesn't exist :)
Yeah I know.

I'm just complimenting you on the logical and orderly thought process that goes into your trading, and, which will for the most part, produce positive (i.e., make money) results in a fairly steady fashion.

This process will then allow you to increase your position size, thus creating a multiplier effect on your trading and allowing for a substantial increase in your capital base.

Folks seem to think I'm insulting Surf or denigrating him, I'm not. I am saying what he does is not doable in the real world of trading, and should not be attempted by anyone at home viewing this, otherwise the consequences could be rather severe and dire to your bank account and your emotional well-being.

Trading is not game to me, nor is it a joke. The emotions involved in it can be stronger than those you experience when in a relationship (speaking of men and women). Be honest and be real or I'm going to bring you to task, whether you're a paper-trading journalist or a vendor salesman with ulterior motives for posting your information.

That is all.

Good trading,

JJ
 
Bring, bring, bring, bring.

"Hello, you have reached the home of Market Surfer, please leave a message."

Beep!

"Hello, Mr. Surfer, this is your broker, we’re calling to tell you that we will only give you 20% margin on your account, as it has gone so impossibly far into the red our senior executives want to make sure that we aren’t left holding the bag on this one."

“We will need a substantial increase in your account before 9:30am on 12/07/07, or we will be forced to liquidate your position in the YM, at which point you will have to makeup the substantial difference to us that your current margin doesn't cover, or we will take you to court.”

Beep!

Surf brushes his hair back, picks ups the cell phone, and starts dialing.

“Hello, Pinocchio?”

“Hello, is that you Surf?”

“Yeah, it’s me. Hey listen, I’m going to need to get a loaner from you so I can meet a margin call from my broker, I’ll make it up to you, you know I’m good for it.”

“OK Surf, this is the 3rd time this year, but I have it to spare, so I’ll help you out buddy, no problem”

“OK, thanks”

Surf continues dialing.

“Hello, annaland?”

“Hey babe, what’s up?”

“I’ve got a margin call from my broker, and I wanted to know if I could get a ten-spot from you?”

“Um, OK Surf, if you really need it”

“Uh, yeah, I do. Thanks!”

Surf hits the speed dial again.

Bring, bring, bring, … Overtooled’s number just keeps ringing and ringing, but no one picks up, and the machine doesn't come on ... :p

Cut to Overtooled as he looks at the Caller ID and see’s Surf’s name on it, and then glances at his screen as the overnight YM continues to move into the stratosphere.

Surf sighs and clicks the off button, thinking to himself, "I’ll just have to pull from the home equity loan to cover the rest of this one" ... :(

Jimmy Jam
 

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Quote from JimmyJam:

... on the other hand, Surf's trade has reached the -400 YM pts mark, there's no telling where this bad boy ends. :eek:

If it were a real trade any responsible and professional brokerage would have closed it a loss way before this point or they would have required a large capital infusion to hold the position as it moves deeply into the red considering the high levels of volatility in the markets today.

Jimmy Jam


JJ,

that's an invalid statement concerning the responsible and professional brokerage. as long as the margin is met, why would a trade be closed by the broker? i understand you are starting out in the markets, but seriously, you should know this.

surf
 
Quote from JimmyJam:

Bring, bring, bring, bring.

"Hello, you have reached the home of Market Surfer, please leave a message."

Beep!

"Hello, Mr. Surfer, this is your broker, we’re calling to tell you that we will only give you 20% margin on your account, as it has gone so impossibly far into the red our senior executives want to make sure that we aren’t left holding the bag on this one."

“We will need a substantial increase in your account before 9:30am on 12/07/07, or we will be forced to liquidate your position in the YM, at which point you will have to makeup the substantial difference to us that your current margin doesn't cover, or we will take you to court.”

Beep!

Surf brushes his hair back, picks ups the cell phone, and starts dialing.

“Hello, Pinocchio?”

“Hello, is that you Surf?”

“Yeah, it’s me. Hey listen, I’m going to need to get a loaner from you so I can meet a margin call from my broker, I’ll make it up to you, you know I’m good for it.”

“OK Surf, this is the 3rd time this year, but I have it to spare, so I’ll help you out buddy, no problem”

“OK, thanks”

Surf continues dialing.

“Hello, annaland?”

“Hey babe, what’s up?”

“I’ve got a margin call from my broker, and I wanted to know if I could get a ten-spot from you?”

“Um, OK Surf, if you really need it”

“Uh, yeah, I do. Thanks!”

Surf hits the speed dial again.

Bring, bring, bring, … Overtooled’s number just keeps ringing and ringing, but no one picks up, and the machine doesn't come on ... :p

Cut to Overtooled as he looks at the Caller ID and see’s Surf’s name on it, and then glances at his screen as the overnight YM continues to move into the stratosphere.

Surf sighs and clicks the off button, thinking to himself, "I’ll just have to pull from the home equity loan to cover the rest of this one" ... :(

Jimmy Jam



i like it! funny stuff.

annaland says, "surf owes me more than money"

thanks, JJ, you made our morning!

:D :) :D
 
Quote from marketsurfer:

JJ,

that's an invalid statement concerning the responsible and professional brokerage. as long as the margin is met, why would a trade be closed by the broker? i understand you are starting out in the markets, but seriously, you should know this.

surf
I'm just starting out in the markets?

LOL :)

Theoretically, your margin would most likely increase, as you show severe irresponsibility as a trader in allowing a position to move so egregiously against you.

Of course, this is just conjecture on my part, as I have never allowed a position to move even a fraction of what you have allowed this YM position to move against you, and seeing as how it is a paper trade, not one involving real money, we can't really test it out in real life.

Still pretending like you have some fight left in you, huh Surf? :D

I would wish you good trading, but I know that's an impossibility on your part.

Jimmy Jam
 
Quote from marketsurfer:

i like it! funny stuff.

annaland says, "surf owes me more than money"

thanks, JJ, you made our morning!

:D :) :D

Glad you can see the humor in the situation, we can all thank the powers that be that it's not for real ... we're all one black swan event away from it happening. :eek:

JJ
 
Quote from JimmyJam:

Glad you can see the humor in the situation, we can all thank the powers that be that it's not for real ... we're all one black swan event away from it happening. :eek:

JJ



$2000.00 per contract drawdown is shocking to you?

surf:confused:
 
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