My opinion has been the same all along, I just recently am vocalizing it. I already explained in this thread why I believe he is a sim trader (or worse, a blotter manipulator). A couple months ago, he couldnt put together back to back winning days and he was +/- 500 ish everyday. All of a sudden not only does his volume (and assuming his size per trade) increase dramatically but he somehow learned to make money basically every single day. I understand that a trader can gain consistency after experiencing inconsistency but the facts of this particular example just dont add up. People dont go from a small trader of inconsistent trading to a very large trader with super consistency in a couple months.
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 2007 Questions and Discussion
- Thread starter surfer25
- Start date
Quote from Cocaine:
If you need to see others doing well in order to believe that great money can be made in the markets daily, you are a follower and not a self motivator. The only true inspiration you need comes from seeing all the money thats out there everyday and avaliable to anyone willing to learn this great game.
That being said, the guys who post consistently and do well, I am happy for them and hope they continue to succeed.
This was your quote from the other tread. I guess you did not say that you believed him or not, sorry for the mistake.
islands111 on the other hand needs to explain his change of heart.
Quote from islands111:
I just wanted to say I get a lot out of the real P/L thread.
2 people who are inspirations are dustin and mba.
those of u chiding mba,remember back in january of this year he was posting losing days for weeks straight.I mean everyday.Let me say it again, he was posting losing days for months.Where have u guys seen somone do that before?
My one question about mba is why hasnt his incredible success gone to his head yet and brought him down to earth.
just a thought
blackguard
or was this sarcasm?
OMFG - if I ever go from making a few hundred to a few thousand a day - I'll never post it. You guys are jealous mofos.
You just can't stand the fact that someone can be more successful than you. Well MBAGH has said he's been on ET since 2002 so I assume he's been trading for over 5 years now - so it ain't like he's a newbie. His numbers aren't spectacular considering the amount of contracts he's trading. And he's posted a -120k loss, and I don't think he has still recovered from that as of yet, so he is human. Remember Chauncey the last badass trader posting those kind of numbers - I bet you jealous mofos drove him away from this site as well. The winners get harassed and driven away while the losers take over this site.
You just can't stand the fact that someone can be more successful than you. Well MBAGH has said he's been on ET since 2002 so I assume he's been trading for over 5 years now - so it ain't like he's a newbie. His numbers aren't spectacular considering the amount of contracts he's trading. And he's posted a -120k loss, and I don't think he has still recovered from that as of yet, so he is human. Remember Chauncey the last badass trader posting those kind of numbers - I bet you jealous mofos drove him away from this site as well. The winners get harassed and driven away while the losers take over this site.
Yeah my quote was in regards to traders in general needing to see others make money in order to know that money can be made. Nothing to do w/ MBA Gearhead.
Quote from AAA30:
This was your quote from the other tread. I guess you did not say that you believed him or not, sorry for the mistake.
islands111 on the other hand needs to explain his change of heart.
or was this sarcasm?
Chauncey mentioned he's been trading for 15+ years and the size he throws around took years for him to accomplish. Completely different set of circumstances.
Quote from aeliodon:
OMFG - if I ever go from making a few hundred to a few thousand a day - I'll never post it. You guys are jealous mofos.
You just can't stand the fact that someone can be more successful than you. Well MBAGH has said he's been on ET since 2002 so I assume he's been trading for over 5 years now - so it ain't like he's a newbie. His numbers aren't spectacular considering the amount of counteracts he's trading. And he's posted a -120k loss, and I don't think he has still recovered from that as of yet, so he is human. Remember Chauncey the last badass trader posting those kind of numbers - I bet you jealous mofos drove him away from this site as well. The winners get harassed and driven away while the losers take over this site.
Bro, I trade stocks mainly for the last 7 years and futures are secondary. Who said anything about being a devotee? I use some of the concepts in the journal, so fucking what?
Quote from aeliodon:
You of all people Cocaine, SCT devotee, know the potential of the market - have you forgotten the Crayola drill?
Quote from damnit:
MBAGearhead is a 100% fake/fraud/sucker. I have never seen someone go from a few hundred dollars every week to seven figures all in one year. I challenge him to post a screen shot of the account trade confirmations.
i would disagree and you're failing to contemplate some fairly obvious things:
from what i understand, he was trading a small account early on and trying to automate a system. it didn't work well automated and the small single lot type account got stopped out a lot. further, vols have increased a lot. he scrapped the automation, moved to the ES, and moved to a larger acct.
if you've ever tried to trade a small account in the ER2, you'll know how the threat of blowing up is very real even with proper $ mgmt. very easy to get whipsawed in a small acct trading ER2.
take a good system and move it to a much larger acct and your sizing and, therefore, stops are much more realistic. if you go from struggling to not blow up a small 5 figure acct to trading a 6 figure acct and, thus, being able to give your trades a chance to work, things can change a lot- and quickly. add in increased volatility and MBA's #'s become more believable.
personally, i tried to trade a 'proof of concept' acct that was too small for a couple of months- it was a nightmare. i realized that a $10m acct can't prove anything trading ER2 and HSI! so, i bumped it only slightly to $25m and things completely turned around. granted, after being up >300% in 3 months, i blew up to the tune of a 40% drawdown in 4 trading days- but that was me (OBVIOUSLY) throwing proper $ mgmt out the window. there is a lot to be said for setting a maximum daily loss limit where you turn off the computer- would have saved me a lot of $. not to mention confidence, which is still not back. i digress...
i am about as skeptical as they come and i still tend to believe MBA's #'s for the reasons i stated.
I'm surprised that so many people disbelieve MBAs numbers. I really don't think his numbers are unrealistic at all. Like another poster said, he was working on a 100% mechanical system, went discretionary, found consistency, and is going. His winning days are not that large , but consistent, yet less consistent than other known traders on ET. I assumed he was scalping with some good edge for a long time, but after seeing his massive one day loss, it seems more reasonable to assume he is averaging into his positions. No charts in front of me, but if I remember correctly his large losing day had a significant trend in the latter half of the day. Wasn't it a trading curbs in day to the upside?
For all anyone knows he could be some rich kid tech millionaire who was bored and decided to throw a few million in his trading account and work on a strategy in between traveling and banging models.
Funny how traders can be such a skeptical bunch.
And for whoever brought up lawsuits, that is just a plain asshole suggestion.
For all anyone knows he could be some rich kid tech millionaire who was bored and decided to throw a few million in his trading account and work on a strategy in between traveling and banging models.
Funny how traders can be such a skeptical bunch.
And for whoever brought up lawsuits, that is just a plain asshole suggestion.
here's how I cam to my conclusion MBA is a fraud.
that one day, he said he lost 100k+ in a single day trading ES.
well, if you look at a chart of that day the market was fairly flat w/hardly any movement.If I tried, I couldnt lose 100K in a market like that.Pure randomness wouldn't let it happen.
take a look how many contracts he traded that day.lets say he trades 5-10 contracts round trip.Given the lack of volatility that day, plus pure randomness, it would be impossible to lose that much in a single day.Even if a person tried to.
after that day, I changed my tune and decided he's a fraud.
that one day, he said he lost 100k+ in a single day trading ES.
well, if you look at a chart of that day the market was fairly flat w/hardly any movement.If I tried, I couldnt lose 100K in a market like that.Pure randomness wouldn't let it happen.
take a look how many contracts he traded that day.lets say he trades 5-10 contracts round trip.Given the lack of volatility that day, plus pure randomness, it would be impossible to lose that much in a single day.Even if a person tried to.
after that day, I changed my tune and decided he's a fraud.