Trader P/L 2007 Questions and Discussion

[syswizard]

Quote from islands111:

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.

Look again. That was a huge RANGE day...with a mombo rally in the afternoon. And this occurred right after a huge RANGE day down in the prior session.
He was short all afternoon.
Trust me on this.
The guy is making CONSISTENTLY 1 tick per contract.
Sounds like little, but try and write a system to do that......it's nearly impossible.

 

[john12]

wrong island as i recall the day he lost 100k was the day we slowly grinded higher all day with no pullbacks which means he was shorting the whole way up and that means he was an out of control fader. fine but what about all the other days we crashed before that and went straight down? how many of those days did he keep scaling in as we fell 10-20 es pts? the point is to put up 30-100k es days one would have to take huge risks in volatile markets like we had in july and august. to not be on the wrong side of some of that monster volatility with a large position is impossible to believe. remember es's are highly leveraged so just think if you had 30 contracts which is $1500 a pt. the way the es was moving 10 pts fast being on the wrong side could produce 15k loses. nobodys doubting that people have 50-100k es days but whats not believable is not to have lost 1 day during those crazy volatile days taking so much risk.

 

[bsparkyman]

You almost answered your own question, look for the distinctions. BTW, he is for real.

Quote from john12:

wrong island as i recall the day he lost 100k was the day we slowly grinded higher all day with no pullbacks which means he was shorting the whole way up and that means he was an out of control fader. fine but what about all the other days we crashed before that and went straight down? how many of those days did he keep scaling in as we fell 10-20 es pts? the point is to put up 30-100k es days one would have to take huge risks in volatile markets like we had in july and august. to not be on the wrong side of some of that monster volatility with a large position is impossible to believe. remember es's are highly leveraged so just think if you had 30 contracts which is $1500 a pt. the way the es was moving 10 pts fast being on the wrong side could produce 15k loses. nobodys doubting that people have 50-100k es days but whats not believable is not to have lost 1 day during those crazy volatile days taking so much risk.

 

[islands111]

Quote from islands111:

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.

lets say he made 70 round turns that day trading 9 contracts.He lost an average of $1871 per trade all day long in a flat/choppy market.Folks, that just doesnt happen.

Like I said if I tried to do that I couldnt.Its impossible.

 

[Cocaine]

Just curious, how do you know he is real?

Quote from bsparkyman:

You almost answered your own question, look for the distinctions. BTW, he is for real.

 

[neke]

Quote from islands111:

lets say he made 70 round turns that day trading 9 contracts.He lost an average of $1871 per trade all day long in a flat/choppy market.Folks, that just doesnt happen.

Like I said if I tried to do that I couldnt.Its impossible.

Try doing what the others suggested: doubling in your short positions as the market moved higher (assuming you have a sizeable account that can hold more than 150 contracts at the same time). What happened to him can easily happen. And by the way that day is total contracts traded was over 600. Probably he used to scalp, but that day decided to go directional and fight the market (who hasn't done that?) and got toasted.

 

[mnx]

To all you losers out there:

There is already a skeptics and detractors thread. Please move your whining and crying there and go back to trading your 4 figure retail accounts.

This thread is intended to be for questions and discussion.

END OF STORY.

- mnx

 

[Cocaine]

Get off your high horse asshole, you werent even participating in this thread until you decided to show up and play mr tough guy.

Btw, just in case you didnt realize, you are NOT a mod.

Quote from mnx:

To all you losers out there:

There is already a skeptics and detractors thread. Please move your whining and crying there and go back to trading your 4 figure retail accounts.

This thread is intended to be for questions and discussion.

END OF STORY.

- mnx

 

[The Swordsman]

Yeesh, someone had a bad day today

Quote from mnx:

To all you losers out there:

There is already a skeptics and detractors thread. Please move your whining and crying there and go back to trading your 4 figure retail accounts.

This thread is intended to be for questions and discussion.

END OF STORY.

- mnx

 

[Cocaine]

Mnx is a respected poster but he was a complete jerk for posting what he did here. He butted his nose in where it didnt belong. People were all engaged in a reasonable discussion and he decided to flex his cyber muscle.

Quote from damnit:

You need help and you are not the boss of ET. Take your little retail 3 figure account and buy some penny stocks.