TradeStation Stalks Client Accounts
- Thread starter Fool
- Start date
$2m+ in a day, not bad.
Risk-Management watches various high-profile accounts, I know guys who worked with Brokers who told me they did sit back and watch some guys trading massive positions using the excuse of "Risk-Management".
When one guy told me "Great trade on WXYZ trade" I realized they were watching my accounts but I did not get bothered since I thought they would get fired if they did piggy back or mention what stocks we are trading. Back in the Dot.Com Blow-Up, Charles Schwab and Etrade Trade were sharp, Schwab's Risk Management was so slow to catch accounts that were ruined it costed them bank. Etrade was quick and learned to liquidate accounts with "Naked Puts" that had blown the guys to pieces.
Some kid in San Francisco was complaining his account was 'sold out" because his equity went from $150,000 to $-200,000+ until Schwab stepped in and closed out those losing Naked Options and heavy leveraged accounts. Robert Green of Green Trader Tax told me about a guy who made $35,000,000 and lost $28,000,000 the next year. Don't you think the Brokers have a right to keep a eye on a high profile account so we don't have another little Dolphin Trade at Schwab or a little Broker like Just2Trade, that would crush their clearing house badly. Penson and a few other Clearing Houses, Knight's wild computer buying (if only Knight would have turned off all their computers? They would not have been bought out by Citadel (actually bailed out)).
Fool, what's your commission rate with Contracts with Trade Station, how do I get them to lower mine to rock bottom? Did you get the free Trading Computer (Up to $8,000 too like me?) from Trade Station?
When one guy told me "Great trade on WXYZ trade" I realized they were watching my accounts but I did not get bothered since I thought they would get fired if they did piggy back or mention what stocks we are trading. Back in the Dot.Com Blow-Up, Charles Schwab and Etrade Trade were sharp, Schwab's Risk Management was so slow to catch accounts that were ruined it costed them bank. Etrade was quick and learned to liquidate accounts with "Naked Puts" that had blown the guys to pieces.
Some kid in San Francisco was complaining his account was 'sold out" because his equity went from $150,000 to $-200,000+ until Schwab stepped in and closed out those losing Naked Options and heavy leveraged accounts. Robert Green of Green Trader Tax told me about a guy who made $35,000,000 and lost $28,000,000 the next year. Don't you think the Brokers have a right to keep a eye on a high profile account so we don't have another little Dolphin Trade at Schwab or a little Broker like Just2Trade, that would crush their clearing house badly. Penson and a few other Clearing Houses, Knight's wild computer buying (if only Knight would have turned off all their computers? They would not have been bought out by Citadel (actually bailed out)).
Fool, what's your commission rate with Contracts with Trade Station, how do I get them to lower mine to rock bottom? Did you get the free Trading Computer (Up to $8,000 too like me?) from Trade Station?
To trade well one must find price patterns. To find patterns one must be extremely observant. Extremely observant people are few and far betweenââ¬Â¦. Pardon me, I digressed.
It was a SIM account for my R&D. No real money was on full tilt. My strategies trade stocks only, long only, and use 2:1 margin only. How is that possible to ââ¬Åcrush their clearing house badlyââ¬Â?
And as far as I know, many magnificent downfalls had nothing to do with risk management. LTCM had mathematically eliminated Risk. But it was Uncertainty did them in. Uncertainty is that you simply donââ¬â¢t know, you know?
Knightââ¬â¢s story is a fascinating one: A ââ¬ÅDavidââ¬Â was seriously wronged by Knightââ¬Â¦ ââ¬ÅDavidââ¬Â bought a curse on-line with $33. It was ââ¬ÅThe Financial-ruin Black Curseââ¬Â: This curse causes disruption in your enemyââ¬â¢s financial holdings and their ability to make money. This curse negatively affects their career and future earning power. The rest is His-Story as we know it. Itââ¬â¢s a story of ââ¬Å$33 vs. $460 millionââ¬Â.
If only Knight would have turned off all their computers?
It was a SIM account for my R&D. No real money was on full tilt. My strategies trade stocks only, long only, and use 2:1 margin only. How is that possible to ââ¬Åcrush their clearing house badlyââ¬Â?
And as far as I know, many magnificent downfalls had nothing to do with risk management. LTCM had mathematically eliminated Risk. But it was Uncertainty did them in. Uncertainty is that you simply donââ¬â¢t know, you know?
Knightââ¬â¢s story is a fascinating one: A ââ¬ÅDavidââ¬Â was seriously wronged by Knightââ¬Â¦ ââ¬ÅDavidââ¬Â bought a curse on-line with $33. It was ââ¬ÅThe Financial-ruin Black Curseââ¬Â: This curse causes disruption in your enemyââ¬â¢s financial holdings and their ability to make money. This curse negatively affects their career and future earning power. The rest is His-Story as we know it. Itââ¬â¢s a story of ââ¬Å$33 vs. $460 millionââ¬Â.
If only Knight would have turned off all their computers?
But what is the issue here, exactly??
If you have a very, very profitable trading system then just trade it manually, why use a third party software in the first place, if you strongly believe the software is spying on you (not a far-fetched idea, mind you...), unless you are constantly scalping the market day and night and cannot (obviously) monitor price action while you sleep?
Fool, they eye Buffet, not you.
Too hard to use observation to find price patterns because then you have to determine the probability of success and do other tests and by the time you are done the opportunity may be gone. There are some tools that automate this. For price patterns this is a good tool I'm experimenting with at the moment that also creates code for Tradestation for opportunities it finds based on specified criteria. Really cool. There is another one for MT but I am not familiar with the language.