Quote from Thunderdog:
*Sigh* indeed.
Such a tangled web "we" weave, eh Scientist?
OK, so you finally admitted that you "only" make about $297K per year trading ER2. (I can only assume that with your outstanding performance numbers you have quickly and handily reached the upper limit.)
Yes, *sigh* indeed. Because once again, you haven't switched on your brain. Who says I'm only making 8T a day on the ER2? You think that is exceptional performance, on an index with a 100 tick daily range? Give me a freaking break.
[... bla bla bla ...]
[ ... mentor part ... ]
Yes, you are correct, mentoring others does take liquidity out of the market, when exact parameters are given and followed, at least in purely limit-based approaches. Which is precisely why I earn on mentorships on a %of return basis. That way, I do at least get compensated for liquidity my 'protege' illiquidates. However, please also remember that I don't force them to do exactly what I do. They use a variety of my angles, but ultimately end up doing their own thing in one way or another. Let's face it, no trader is exactly the same, that's just the way it is.
My original question to you had been about return on capital. That is the benchmark generally used for comparative purposes as I understand it. Return on initial margin, while interesting and entertaining, is not what I asked. As for FT71's comments, and with due respect to FT71, I don't know who or what an FT71 is. I only know what I asked and that my question was not answered. Thanks all the same, though.
Ah, incidentally I was actually talking about performance in terms of return on initial with FT71 just the other day. So your point is rather weak. You don't know who he is obviously, perhaps you should do a search and educate yourself. To save you the search time, he is an ace scalper, runs a top prop firm in the CBOT building, he's a top buddy and one of the best-spirited people I've ever met. One of those people you can talk to till the sun rises. I have also traded with him on several occassions, and will continue to do so daily once he's back from holidays. By the way, if you doubt what I'm telling you about performance, perhaps you should go and ask him about my typical action on the ER2. You might be surprised indeed to hear what it's like trading alongside me. That would be some contrast opinion for you from the "other" side, i.e. the small community of people I trade with, which people like you would just wish they could learn something from. Remember, this is just ET. I meet some great people here, but the real action happens elsewhere. If you want to know why, you just have to look at the general level of conversation here...
Finally, you conceded that, of George Soros and Paul Tudor Jones, at least Soros is a better trader than you. I can only infer that you are implying or at least suggesting you you are a better trader that PTJ. Is that right? If so, then you truly are a renaissance man aren't you, Scientist? Such "skill" AND a world-class sense of humor.
Come on let's not nit-pick shall we? I have heard a lot of questionable things about Tudor, and as far as he knows he long ain't trading anymore. I'd bet he'd get killed in today's markets. As they say: "Yesterday was always easy." That's why said I'm not sure if he is. Soros is a real player, and he does staggering returns despite his huge size. Nobody else can do this, not even his protege Stanley Druckenmiller. That doesn't mean that anything that applies for us, as day traders, applies to Soros. Totally different game. This is what I love about Finance. It is actually the fairest business of all, because the smaller you are, the more you can make, relatively speaking, and the larger you are, the higher your handicap...
