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The top 3 guys who make over 1 million a year at my firm...
- Thread starter s0mmi
- Start date
I presume, that is only when they are wrong for the most part, correct?
Quote from s0mmi:
Easy.
Most of their standard trades:
> If it's Australian bonds with U.S. Bonds, the max they'll usually hold a majority of their size to will be until the end of the U.S. session. This time frame can be up to 15-18hrs (4pm australian time to 8.30am next day). Sometimes
> Most australian products need to be exited on the re-open. So for australian equity, spi, it needs to be exited on the commencement of the asia opening. Once again the same time-frame as mentioned above
> For Australian yield curve (Aussie 3yrs/10yrs) the time frame is usually maximum 2-3 days at MAX. Most times it would be a few hours after the end of U.S. session (when Asia reopens) so maximum about a day.
> For Australian STIRS. Most of the flys/spreads entered are held for like a week up to a few weeks if they need to just to go onside or pay them
Quote from ofthomas:
I presume, that is only when they are wrong for the most part, correct?
yeah very good. mostly like when something just drifts slowly one way and then keeps goign, and going, and going... and goes its once-every 3-6 month distance which is very far..
if you talk to them, they will be more egotistic about it. "Ohh my stop is getting out by the end of the euro session" or, "ohh my stop is getting out before the U.S. data figure at midnight (australian time)"
hehe.
Its cute to hear that.
Trust me, when it goes far enough, they are holding thru everything they can. And they are big fish so they must.
This is the exact same style I trade. EXACTLY. Its 100% scalable. What I do to make 40-60k month, I can do the same thing make 120k-180k month. Completely scalable. A guy who is just clicky click in/out little 1-2 tick losses and very tight stops on everything, is very limited in this game.
Lescor.
I would be curious to know if they are averaging in when it goes against them? I am going through that right now with my Jan/Mar HO spread...my bias is still there for the direction I am trading, but it has gone against me for the past 2 days about 50% of the "stop"... so debating if to average down and take on more risk, or if to let it confirm it is resuming and then add to the position.. so how do they/and you would normally deal with a position going against them with the time stop? would they still trade around it?
Quote from s0mmi:
yeah very good. mostly like when something just drifts slowly one way and then keeps goign, and going, and going... and goes its once-every 3-6 month distance which is very far..
if you talk to them, they will be more egotistic about it. "Ohh my stop is getting out by the end of the euro session" or, "ohh my stop is getting out before the U.S. data figure at midnight (australian time)"
hehe.
Its cute to hear that.
Trust me, when it goes far enough, they are holding thru everything they can. And they are big fish so they must.
This is the exact same style I trade. EXACTLY. Its 100% scalable. What I do to make 40-60k month, I can do the same thing make 120k-180k month. Completely scalable. A guy who is just clicky click in/out little 1-2 tick losses and very tight stops on everything, is very limited in this game.
Quote from ofthomas:
I would be curious to know if they are averaging in when it goes against them? I am going through that right now with my Jan/Mar HO spread...my bias is still there for the direction I am trading, but it has gone against me for the past 2 days about 50% of the "stop"... so debating if to average down and take on more risk, or if to let it confirm it is resuming and then add to the position.. so how do they/and you would normally deal with a position going against them with the time stop? would they still trade around it?
It depends on the idea.
> Everyone has their own execution and averaging style. For me, I like to be super-super-super patient and disciplined, and then only collect with half size. Others, like to just stack the book and keep averaging and keep most of the size on for a few hrs then hit some out if it doesnt work etc.
> It depends on the person. Everyone is unique.
> For you and your stop, personally (this is my style), I would wait for it to start trading back. When it does, I would place a limit order to enter in half size. If I used 100-lot, then I would enter an order to place 50.
If it's gone 30-50% of my dollar stop, I would not be wanting to get paid very much at all, just happy to get out. So I would be scaling half or two-thirds of my size at points that leaves me directly at scratch.
Gotta be real patient, though. Most of the time, you will succeed. This game is all about keeping calm when sh*t hits the fan, as you know. It helps if youre a multi-product trader to scalp/job other things in the mean-time to help fund your position and relieve stress off your head.
interesting... thanks for sharing... I have some thinking to do ... I focus mostly on grains and energy... and only on calendars... for now at least...
Quote from s0mmi:
It depends on the idea.
> Everyone has their own execution and averaging style. For me, I like to be super-super-super patient and disciplined, and then only collect with half size. Others, like to just stack the book and keep averaging and keep most of the size on for a few hrs then hit some out if it doesnt work etc.
> It depends on the person. Everyone is unique.
> For you and your stop, personally (this is my style), I would wait for it to start trading back. When it does, I would place a limit order to enter in half size. If I used 100-lot, then I would enter an order to place 50.
If it's gone 30-50% of my dollar stop, I would not be wanting to get paid very much at all, just happy to get out. So I would be scaling half or two-thirds of my size at points that leaves me directly at scratch.
Gotta be real patient, though. Most of the time, you will succeed. This game is all about keeping calm when sh*t hits the fan, as you know. It helps if youre a multi-product trader to scalp/job other things in the mean-time to help fund your position and relieve stress off your head.
Quote from s0mmi:
Gotta be real patient, though. Most of the time, you will succeed. This game is all about keeping calm when sh*t hits the fan, as you know. It helps if youre a multi-product trader to scalp/job other things in the mean-time to help fund your position and relieve stress off your head.
Shouldn't we be looking at trades as independents? Not worrying about one funding the other?
All three trade the same style? Surely they can't all be clones of each other.