You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Trader P/L 2005
- Thread starter Diamondtrim
- Start date
- Status
- Not open for further replies.
Quote from qitrader:
Mnx,
Is your trading automated? How many trades do you make a day? In your blotter, I see that you may have made about 500 trades.
very good job
qitrader
I use a computer program that probably accounts for 10% of my trades... I'd say I usually average 1000 trades per day. (500 round trips.)
mnx
Quote from mnx:
I use a computer program that probably accounts for 10% of my trades... I'd say I usually average 1000 trades per day. (500 round trips.)
mnx
Mnx,
I find what you do remarkable. But I would never advise anyone to âtrade â in that way.
1625 trades, 1 232 860 shares, 5579.4121$ net profit.
This means:
3.43$ net profit per trade
0.0045$ net profit per share traded
more than 200 trades per hour
I donât want to minimize what you do or sound negative, but I would like to give you my impression on what you are doing:
You âre trading with a micro margin. If I see this profit per trade it looks to me that you try to find a good entry and you get immediately out with a few cents profit ( in fact you don't even make 1 cent per share traded). You probably get out so fast because you have no idea what the market will do; otherwise you would probably stay longer in each trade and make more profit per trade (staying in for an extra 0.01$ per share would more than triple your actual profit)..
I compare trading with running a business. If your margin is huge, you will probably never have a losing month, because profits are much higher than costs, there is enough room to absorb accidents. If your margin is close to non existing, the smallest accident can be fatal.
Again, I donât want to be negative, but when I analyze what you do I cannot do anything else than post what I post. But itâs indeed a strong performance to do what you do and to stay alive.
Quote from spike500:
Mnx,
I find what you do remarkable. But I would never advise anyone to âtrade â in that way.
1625 trades, 1 232 860 shares, 5579.4121$ net profit.
This means:
3.43$ net profit per trade
0.0045$ net profit per share traded
more than 200 trades per hour
I donât want to minimize what you do or sound negative, but I would like to give you my impression on what you are doing:
You âre trading with a micro margin. If I see this profit per trade it looks to me that you try to find a good entry and you get immediately out with a few cents profit ( in fact you don't even make 1 cent per share traded). You probably get out so fast because you have no idea what the market will do; otherwise you would probably stay longer in each trade and make more profit per trade (staying in for an extra 0.01$ per share would more than triple your actual profit)..
I compare trading with running a business. If your margin is huge, you will probably never have a losing month, because profits are much higher than costs, there is enough room to absorb accidents. If your margin is close to non existing, the smallest accident can be fatal.
Again, I donât want to be negative, but when I analyze what you do I cannot do anything else than post what I post. But itâs indeed a strong performance to do what you do and to stay alive.
Spike500, no disrespect intended but your analysis is completely wrong. MNX and others like me make so many trades, because we know that if you have a small edge, the key to making the system work is to make lots of trade. This puts the law of large numbers on our side, which reduces our risk.
The goal with trading is to make money. Doesn't matter how the trader does this, there are no good ways or bad ways to make money as others have implied.
As a business, A trader wants to trade to the point where his marginal revenue is equal to his marginal cost. Would you trade 20 million shares a day if you netted .002 per share? My guess is that as long as the risks were manageable, you'd be very happy trading that type of strategy. Especially one that paid $5000 per hour of trading.
Keep posting those blotters guys, I enjoy hearing from everyone who is making some money.
one thing not discussed here much is 500k shares of lu at $3 is peanuts. try trading 500k shares a day of goog and shld. not only with the slippage rip you to pieces so will the sec fee. nobosys discussed the sec fee here. i fyou attempted this on a stock like goog the sec fee would destroy you. selling 100 shares of goog cost $1.20 or so for the sec fee. so if you traded 500k a day which is 250k of sells thats a massive $2800 a day in sec fee's alone. like the guy who says he trades 50k blocks of lu. lu was down 9 cents yesterday. how did you not get ripped on your 50k blocks as it kep falling?also to add to the skeptism if most had a strategy that netted 7k a day would they really post it here as it was happening? even 3 or 4 people from here throwing 50k's around could affect it greatly. i was with a broker for several years that had auto exec and zero commissiosn and i made 7 figures a year for several years. a few of my friends found out about it and did it and it was a nightmare as we were trading 6000 times a day with one company and controlling 10% fo the trades of this company out of 3 million customers. we would get complaints constantly warning us not to bang or we'd be cut off as the mm's were screaming murder. the more people who did this stragegy witht hsi company affected me greatly so i had to keep it quiet. if i got on this board and said what i was doing i'd have destroyed my opportunity overnight. this board is more an informational board about differnt brokers software etc. take all the boasting and bragging with a grin of salt and find your own stragegy as there's no easy money in this game as whats being portrayed on here.
nobody on here can verify wethere these blotters are real and if they are who cares its not you making the money
nobody on here can verify wethere these blotters are real and if they are who cares its not you making the money
Quote from joeyata1:
also to add to the skeptism if most had a strategy that netted 7k a day would they really post it here as it was happening? even 3 or 4 people from here throwing 50k's around could affect it greatly.
I would guess that the strategy he's using requires some sort of discretion or 'feel' that is not easy to duplicate.
Why would you post a blotter?
Some people like recognition, some people like to share and contribute, and others may have different motives.
What does this thread do?
If you spend any time on this site, you will become overwhelmed with the constant barrage of negativity. This affects traders in many ways. If the markets are tough, it reinforces that belief, and
hence your profitability will continue to decline.
This thread, has demonstrated that traders are making money, that some are making great money, and that a variety of strategies are working to make money. If you take anything away from this thread, take this, there is money to be made, and if you are having a challenging time with your trading, then adapt your strategy to the current market.
I wish everyone continued success!
Mike
Some people like recognition, some people like to share and contribute, and others may have different motives.
What does this thread do?
If you spend any time on this site, you will become overwhelmed with the constant barrage of negativity. This affects traders in many ways. If the markets are tough, it reinforces that belief, and
hence your profitability will continue to decline.
This thread, has demonstrated that traders are making money, that some are making great money, and that a variety of strategies are working to make money. If you take anything away from this thread, take this, there is money to be made, and if you are having a challenging time with your trading, then adapt your strategy to the current market.
I wish everyone continued success!
Mike
Quote from okwon:
I would guess that the strategy he's using requires some sort of discretion or 'feel' that is not easy to duplicate.
Making money is not easy period! Becoming very successful trading is no different. The fact is, he is doing nothing that can't be done by anyone else. He's not the only one making money on
this site either. There are many strategies and many traders making money.
A marginal day trading is still much better than the best day digging ditches or most other jobs for that matter.
- Status
- Not open for further replies.