The Surf Report

[JimmyJam]

Quote from marketsurfer:

$2000.00 per contract drawdown is shocking to you?

surf

Hey you know what.

If you really believe what you're writing here, and you were trading real money, you sound like you actually believe that bullshit that Victor Niederhoffer spouts about the markets, and you have the same responsibility to your clients that Nick Leeson took to his job, so your account would endup in the same place that theirs has.

DOA

Wow, keep digging.

JJ

 

[Pekelo]

Quote from marketsurfer:

$2000.00 per contract drawdown is shocking to you?

Let's make it $2500, the trade crossed briefly the -500 pts mark this morning....
I think that is a new record for you...

 

[JimmyJam]

Quote from EPrado:

... picking on a guy like Surf when it comes to trading is like making fun of the kids who take the short bus to school everyday. Not sure what you are getting out of it. I used to rip on him also ...

I am not defending him, but whats the use of ripping on the guy....he is a horrible trader.

Quote from marketsurfer:

$2000.00 per contract drawdown is shocking to you?

surf

Yeah EPrado, now I'm beginning to understand what you're saying here.

Thanks man,

Jimmy Jam

 

[JSSPMK]

Live trade from this AM, 1 lot still open. TA ROCKS!!!

Quote from JSSPMK:

Long 3

Scaled out 2 +8.5

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1705796>

 

[Thunderdog]

Quote from marketsurfer:

$2000.00 per contract drawdown is shocking to you?

surf

You did not address your question to me, but allow me to make an observation. $2,000 per contract on a mini contract is equivalent to $10,000 on a full-sized contract, just to keep things in perspective. While that may not necessarily be "shocking," I think it can be regarded as fairly loose by most trading standards. For someone who is supposedly not a buy-and-hold guy, you play a rather loose game. But, hey, if you're having fun...

 

[EPrado]

Quote from JimmyJam:

Yeah EPrado, now I'm beginning to understand what you're saying here.

Thanks man,

Jimmy Jam

Hey man,

I was the president of The Rip on Surf's Trading Club. But it gets old after a while ripping on some guy who makes comments like "My sources tell me that news is coming out of England...blah blah blah"...then have the Dow rally 600 points up his ass.

But it all makes sense when you look at his infatuation with VN.....they have very similar trading styles.....they are oblivious to risk mgmt.

 

[marketsurfer]

Quote from JimmyJam:

Hey you know what.

If you really believe what you're writing here, and you were trading real money, you sound like you actually believe that bullshit that Victor Niederhoffer........

DOA

Wow, keep digging.

JJ

VN is the greatest living speculator and has made far more for his investors than he ever lost.



yeah, he has my respect.


surf

 

[marketsurfer]

Quote from JimmyJam:

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?

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

Jimmy Jam

ok, i defer to your years of experience--heck, i have only been involved in the markets since 1989--- only once has a broker called me regarding a position. this was on the eve of the first gulf war--- DJ, the guy who got me into the markets, ( see innerworth for details), and I spent months studying market reactions to pending war, pouring over papers and research from the "foundation for the study of cycles" etc, etc. we were able to nail the invasion to the day based on information leaks and the studies--- however, were convinced the US markets would crash since saddam would retaliate with extreme force, basically causing waves of terror to rock the world's economies....i was going to be rich, just like DJ who nailed the 87 crash making a fortune--we loaded up on otm OEX puts with max size throwing caution to the wind the day prior to the attack. Charles Schawb was the broker, i remember a phone call from one of the reps asking/confirming if I was sure of the size and position... being far more bold then, i chuckled and asked if he was sure of the stability of his job and hung up.......as history tells--- i was 100% wrong on market direction, as us indexes surged higher crushing my positions and negatively hitting me in a huge way......


oh well, back to more critical items, lunch! annaland and i are outside of Jim's Steaks awaiting a short break prior to getting back to work.....

best,

surf

just keepin it real while annaland is thuggin it out....

 

[atticus]

Weather looks too good to be true. We received 18" of the white stuff overnight:

 

[marketsurfer]

Quote from atticus:

Weather looks too good to be true. We received 18" of the white stuff overnight:

wow, that is gorgeous! winter wonderland--- we got about an inch last night--just cold and wet here, typical philly today.

here is a shot from last year on the property, we do get some snow, sometimes...