Trader P/L 2007 Questions and Discussion

I hope you're joking ? Posting a tradelist would reveal way too much about a traders strategy. Some traders feel that posting numbers alone is already giving away too much info and therefore they choose not to post anything at all. The prop business is a small world ... If somebody starts posting big numbers, you can be sure that others will try to find out what you're doing ... Fom lucky Bastard

In reply,

Obviously you must truly believe that you are part of an elite crowd of "prop traders." Sorry, but posting trades on the kind of numbers I am seeing on this forum is not going to reveal or change anything that anyone is doing. Seriouly, its not like a hedge fund is posting their position and sides. Also the posts here are not position trades, but day trades and most are of an insignificant quantity..including my own. I do enjoy some of the information on this forum, but I also get the giggles quite frequenlty when reading a lot of the posts. However, there is a lot of information on the forum that is useful.
p.s. since I posted my trades with the exact time and sales to the second fo execution.. and it was a mildly profitable day.. can you tell me what my stratgy is or can you trade my strategy on monday for me? I guess not! What you might derive from my results is that they are real and you can possibly decipher a little bit from the profits vs losses and by looking at the times of my entry and exit.. but you cannot figure out why I get in or why i get out. Especially since so much of it is discretionary anyway. A parallel would be the world series of poker on TV.. the pros show the viewers ther cards and we can see how they bet and play based on that card pair.. they are not concerned about anyone at home figuring out their method fo play by watching their reaction to certain card pairs.
 
Quote from JimmyJam:


There are plenty of trading who show by theory. There are plenty of traders who show by example. The first two traders mentioned fall into the first category
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Huh ? Steve T has been trading prop for years....how is that only theory ?
 
Quote from nolajy:

I hope you're joking ? Posting a tradelist would reveal way too much about a traders strategy. Some traders feel that posting numbers alone is already giving away too much info and therefore they choose not to post anything at all. The prop business is a small world ... If somebody starts posting big numbers, you can be sure that others will try to find out what you're doing ... Fom lucky Bastard

In reply,

Obviously you must truly believe that you are part of an elite crowd of "prop traders." Sorry, but posting trades on the kind of numbers I am seeing on this forum is not going to reveal or change anything that anyone is doing. Seriouly, its not like a hedge fund is posting their position and sides. Also the posts here are not position trades, but day trades and most are of an insignificant quantity..including my own. I do enjoy some of the information on this forum, but I also get the giggles quite frequenlty when reading a lot of the posts. However, there is a lot of information on the forum that is useful.
p.s. since I posted my trades with the exact time and sales to the second fo execution.. and it was a mildly profitable day.. can you tell me what my stratgy is or can you trade my strategy on monday for me? I guess not! What you might derive from my results is that they are real and you can possibly decipher a little bit from the profits vs losses and by looking at the times of my entry and exit.. but you cannot figure out why I get in or why i get out. Especially since so much of it is discretionary anyway. A parallel would be the world series of poker on TV.. the pros show the viewers ther cards and we can see how they bet and play based on that card pair.. they are not concerned about anyone at home figuring out their method fo play by watching their reaction to certain card pairs.
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I don't think there's an 'elite' group and even if there were, I'd not consider myself part of it. I make a very good living doing what I'm doing, but there are other props making money I can only dream of, so no, I would not consider myself part of that :) And I'm not sure why you're saying that, because of my reply to your idea of posting tradelists ? Believe me, that just ain't gonna happen and it's NOT because those guys think they're 'elite' or something, just because it's revealing a lot of info. It's fine with me that you disagree by the way, but believe me, it's not gonna happen.
 
I am not concerend about other members posting their trades and times.. I just hink it makes no difference. I cn understand if someone does not want to post the actual trade times, but posting the actual buys and sells and the amounts would add credibility and woudl not jeopardize anyones trading strategy. Just my two cents thats all. Everyone good luck next week and be careful with the increased volatility going intot the fed meeting.
 
Hello everyone. I seriously doubt MBA is a fake. My manager told me a fellow who I used to train 3 years ago had his best month ever in August. He made $101,000. His previous best month was $20,000 and the majority of his months this year were plus or minus 5-$10,000. His best day of the month was $9000 so he was consistent and did not have a monster day on august 16.

My best month in a very long time was in August. Why do so many people have a hard time believing that people like MBA did excellent in August? The move up in the vix was large and an astute day trader who thrives on volatilty should expect profits to be much more than double for a month like that. I feel like many of you non believer guys have no contacts in the trader community. Many of my trader friends are more excited about the environment we are in than in plenty of years. I'm making an assumption here but August was an excellent month for day traders as a whole.
 
Quote from luckybastard:

I don't know MBA though. That doesn't mean he can't be real of course, lol. BUT I do have my doubts that he's real for several reasons... Again, he might be real, and I'm not saying he isn't, just saying I have several reasons to doubt this particular poster.
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He went from "shoulda quit after I was up $100" in April to "up 15K today, not a bad start to the week" a few months later. Anyone would have to be a bit suspicious, but it could always be the case that he was faking his losing start as opposed to the other way around.

I'm not suspicious of such good numbers in general, but traders making such drastic mental changes in that short a period towards p/l strikes me as a bit odd.

ps -- it could also be the case that he once made those kinds of gains say trading internet stocks way back when, and now made the shift to futures, that would be far more believable.
 
Quote from jd7419:

Hello everyone. I seriously doubt MBA is a fake. My manager told me a fellow who I used to train 3 years ago had his best month ever in August. He made $101,000. His previous best month was $20,000 and the majority of his months this year were plus or minus 5-$10,000. His best day of the month was $9000 so he was consistent and did not have a monster day on august 16.
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It's really not the amount of money he's making that makes me suspicious, there are lots of traders making even way more. I really don't consider myself as a toptrader but had my 100k+ months too (followed by months I'd be 0 or even lightly negative). I believe that any trader that's SERIOUS about this busines will hit that 100k+ month at some point, but that doesn't make you a 'toptrader' IMHO.

It's the consistency he's making it with now for quite a while, on the ES (except for that 1 huge loss) combined with that sudden huge leap in performance that makes me suspicious. But like I said, it doesn't really matter to me if he's real or not, he might be, he might be not. All I know i that at least 90-95% of the posters in the trader P/L thread are real and that's the bottomline here I think.
 
Quote from nolajy:


Obviously you must truly believe that you are part of an elite crowd of "prop traders." Sorry, but posting trades on the kind of numbers I am seeing on this forum is not going to reveal or change anything that anyone is doing. Seriouly, its not like a hedge fund is posting their position and sides. Also the posts here are not position trades, but day trades and most are of an insignificant quantity..including my own. I do enjoy some of the information on this forum, but I also get the giggles quite frequenlty when reading a lot of the posts. However, there is a lot of information on the forum that is useful.
p.s. since I posted my trades with the exact time and sales to the second fo execution.. and it was a mildly profitable day.. can you tell me what my stratgy is or can you trade my strategy on monday for me? I guess not! What you might derive from my results is that they are real and you can possibly decipher a little bit from the profits vs losses and by looking at the times of my entry and exit.. but you cannot figure out why I get in or why i get out. Especially since so much of it is discretionary anyway. A parallel would be the world series of poker on TV.. the pros show the viewers ther cards and we can see how they bet and play based on that card pair.. they are not concerned about anyone at home figuring out their method fo play by watching their reaction to certain card pairs.
More...

You are making an inherent assumption that is wrong. You assume that everyone trades plain vanilla, big cap, run of the mill typical daytrading strategies. Most of the most profitable guys I know are doing very unconventional strategies, often in unconventional instruments. Posting trade details would definitely be enough to set a smart individual down the road of trying to reverse engineer what they're doing. It's a competitive business filled with ultra-smart, motivated individuals.

If you trade Dow components on support/resistance, blah blah blah, then yeah, sharing your info won't mean diddly.
 
Quote from luckybastard:

It's really not the amount of money he's making that makes me suspicious, there are lots of traders making even way more. I really don't consider myself as a toptrader but had my 100k+ months too (followed by months I'd be 0 or even lightly negative). I believe that any trader that's SERIOUS about this busines will hit that 100k+ month at some point, but that doesn't make you a 'toptrader' IMHO.
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LOL, it puts you in the top 1% of all wage earners on the planet, so it defintiely makes you a "top trader" in my book! just showing that everything is relative.
Quote from luckybastard:

It's the consistency he's making it with now for quite a while, on the ES (except for that 1 huge loss) combined with that sudden huge leap in performance that makes me suspicious. But like I said, it doesn't really matter to me if he's real or not, he might be, he might be not. All I know i that at least 90-95% of the posters in the trader P/L thread are real and that's the bottomline here I think.
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You just described how a trader achieves that "top trader" status! :)

Good trading,

JJ
 
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