Trader P/L 2006
- Thread starter mnx
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I almost lost my shirt today
I usually trade small shares and today i started trading lot of 1000 shares and got caught in the sell off like no end to the sell off just panic selling left and right
I had been up for the week $500 and today it self i am down
- $2000
so for the week - $ 1500
Black Friday i guess for me
I usually trade small shares and today i started trading lot of 1000 shares and got caught in the sell off like no end to the sell off just panic selling left and right
I had been up for the week $500 and today it self i am down
- $2000
so for the week - $ 1500
Black Friday i guess for me As I peruse this thread I think it is very interesting that it is almost the same guys that are the ones posting good number day in and day out.
It makes me think of poker and the pros and how again you see the same guys at the top of the game.
Every newbie should be watching this thread and learning. I wish I could have had this type of resource when I started in the 90's.
It is great that we are continuing to provide this type of service for free just for the benefit of other traders out there who are learning.
Golf clap to the contibutors!
It makes me think of poker and the pros and how again you see the same guys at the top of the game.
Every newbie should be watching this thread and learning. I wish I could have had this type of resource when I started in the 90's.
It is great that we are continuing to provide this type of service for free just for the benefit of other traders out there who are learning.
Golf clap to the contibutors!
I think this is really a great thread but not from a learning perspective. Posting results just shows that trading can be very profitable and it can stimulate newbies to not give up. But learning something from it so that it can make a big difference in someones results I dont think so.
i agree. if people would even give a little rundown of how they made the money it might be usefull. as it is now its just a pat yourself on the back thread and no one is even allowed to question some of the numbers. why not make the next step and upgrade the responses to something that can be a learning experience?
Magna
Administrator
I disagree and would like the thread to continue as it is. On the previous Trader P/L thread we've already seen what happens when the claims and counter-claims start flying back 'n forth, some people who think the posters have something to prove to them and have the audacity to demand audited results, some people doubting all successful numbers. It serves no purpose and for those who want to believe that this is all made up it's best if you move on to another thread. As to turning this into an endless "advice" or strategy discussion that's best left for individual journals. This is a journal for a wide variety of people to post their trading blotters, see what's possible out there, see how people grow and develop over time, maybe make some contacts (via PM). Threads can't be all things to all people and if that's not enough there are literally thousands of other threads here at ET where people endlessly discuss strategies, software, margin, buying power, firms, per-share prices, trade "helpful" advice, etc. etc. etc. This will not become one of those threads.
As impressive as that "Hand of God"response from Magna was, it was not at all helpful. Vhehn is right; this forum would become much more useful if the moderator would encourage a bit of discourse from the posters- the how's and why's if you will. I agree that demanding audited results from anyone is ridiculous, but having some more info (without disclosing any proprietary data) would help separate the legitimate posters from someone who's taking a bow. It could also be more instructional in that readers could compare and contrast different methods along with some results to go along.
Magna, I do understand that having a thread this size is a challenge to moderate, but I think that you also have an opportunity to make this thread extremely useful. Encourage people to continue to discuss methods and technique. Telling people to find one of "Thousands of other Threads" misses the opportunity; you have a huge # of people reading THIS thread, and with a little discretion from you, it could be terrific.
Magna, I do understand that having a thread this size is a challenge to moderate, but I think that you also have an opportunity to make this thread extremely useful. Encourage people to continue to discuss methods and technique. Telling people to find one of "Thousands of other Threads" misses the opportunity; you have a huge # of people reading THIS thread, and with a little discretion from you, it could be terrific.
Just my opinion, but as for strategies, i dont really think people would be able to copy what most traders do in this thread.
From what i know, Steve Tvardek, Millenium man, Red Ink, Me, Tachyon, definatly billybobnasdaq, and probably Johnny Utah (guess) dont really have systems that you could write down on paper and make money. The difference between me making 200 a day and 3000 is partially at the hands of the market, and partially in a subjective gut instinct part of my brain that im not sure could be replicated. Thats no to say anyone out there couldnt do what i do, im quite sure most could, its just that i would never be able, and i dont think the above names i mentioned, would be able to quantify or write down exactly how they make money either.
Some other traders have more concrete styles, like Lescor and EchoPatrick have set opening strategies (among other things), but again, if you enveloped the same stocks they did, they still make subjective decisions that im not sure could be hammered out in print.
So although it would be nice if i could make 96k on the YM, and 13k on opening orders, and 5k on LU, and 2k on nyse coal stocks, its probably not going to happen because we are all in different situations. My firm you cant trade YM futures, and we dont even have LOO orders! I just pick and choose my strategies and focus as much energy as i can on those, and so far so good.
Hopefully that articulates what im thinking, and if i was wrong about any names i mentioned sorry, feel free to let me know im wrong.
From what i know, Steve Tvardek, Millenium man, Red Ink, Me, Tachyon, definatly billybobnasdaq, and probably Johnny Utah (guess) dont really have systems that you could write down on paper and make money. The difference between me making 200 a day and 3000 is partially at the hands of the market, and partially in a subjective gut instinct part of my brain that im not sure could be replicated. Thats no to say anyone out there couldnt do what i do, im quite sure most could, its just that i would never be able, and i dont think the above names i mentioned, would be able to quantify or write down exactly how they make money either.
Some other traders have more concrete styles, like Lescor and EchoPatrick have set opening strategies (among other things), but again, if you enveloped the same stocks they did, they still make subjective decisions that im not sure could be hammered out in print.
So although it would be nice if i could make 96k on the YM, and 13k on opening orders, and 5k on LU, and 2k on nyse coal stocks, its probably not going to happen because we are all in different situations. My firm you cant trade YM futures, and we dont even have LOO orders! I just pick and choose my strategies and focus as much energy as i can on those, and so far so good.
Hopefully that articulates what im thinking, and if i was wrong about any names i mentioned sorry, feel free to let me know im wrong.
Agreed. I could show you exactly what I do until I am blue in the face and I think the majority of traders wouldnt be able to replicate it (or maybe wouldnt want to b/c it takes a lot of concentration and no slacking off). Mainly because I trade high beta, very fast, low liquidity movers. Shares arent that prevalent in a lot of stocks I trade and I can (and do) push these along throughout the day to help my cause.
I actually have 5 trainees and have shown then some of my good trades, and they look at me like I was crazy for entering them at the time I did because they saw nothing but the possibility of losing 30-50+ cents. For some reason I have gravitated towards these types of stocks because I like quick action and figured that, once I knew how to trade them, I could make lots of fast profits (or losses sometimes). So, when I see these situations, I see a 20-30 cent move setting up and I want in. But I may only be able to get 800-1200 shares. But do that 5-10 times a day and it adds up.
Bottom line, we all have the same goals more or less, and thats to be successful profitable traders. Its nice that there are many roads that lead to the same place
I actually have 5 trainees and have shown then some of my good trades, and they look at me like I was crazy for entering them at the time I did because they saw nothing but the possibility of losing 30-50+ cents. For some reason I have gravitated towards these types of stocks because I like quick action and figured that, once I knew how to trade them, I could make lots of fast profits (or losses sometimes). So, when I see these situations, I see a 20-30 cent move setting up and I want in. But I may only be able to get 800-1200 shares. But do that 5-10 times a day and it adds up.
Bottom line, we all have the same goals more or less, and thats to be successful profitable traders. Its nice that there are many roads that lead to the same place
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