And the value of your post to this thread is ...?
Trading with Tony Oz Scanner - November 2001
- Thread starter Sniper_Trader1
- Start date
Spotting the BIG BUTT KI$$ERS...of course! 
Oh I see. You are the chairman of the a$$ kissing committee. That's cool, but since I started this thread and outlined the rules of no personal attacks, I invite you to post here when you have a valuable trading-related contribution to make. Otherwise, please respect us and stay off this thread.
Regards,
Bill
Regards,
Bill
Well, I have the same problem over and over again - yesterday I had some very good plays shorting QQQ and RMBS - only to give half of it back with some bad trades - believe me, the Oz scanner is great but far from being an "automated money making box" (that's no complaint, it should just show that you got to have a lot of experience and knowlegde to take the "right" plays).
Today I'm just getting stopped out trade after trade with small losses and paying some commissions - choppy day - do you remember my first posting on this board
!
Did anyone have some great plays today ?
Today I'm just getting stopped out trade after trade with small losses and paying some commissions - choppy day - do you remember my first posting on this board
!Did anyone have some great plays today ?
<i>The purpose of this thread is to discuss trading strategies based on the Tony Oz Stock Market Scanner </i> http://www.tonyoz.com/scanner.htm
how about those setups in TradeStation's Easy language format
how about those setups in TradeStation's Easy language format
remember, these high risk/reward scenarios works best when one is trading from a double comfortable cushion of profits upon profits and risking (starting from their initial outlays, years ago) 1/1000th % capital.
Say that cummulatively, Tony or anyone else has taken 2.5M from the markets, and risks $50k - $85k on a few thousand share positions, just to swing from the highs and lows, then keeping this in perspective, one should understand that investment capital size is everything.
Relatively, it appears that most participants and contributors to these discussion panels have less time and overall success monitarily, elsewise they would talk differently (i.e. more substantively, or less inclined to be flippant with their comments). Say that one has a $80k account (maximum) and has survived from this year alone, givebacks & makeups, and then decides to trade like Tony or the other master traders, then proportionally they should risk roughly $80.00. Naturally that amount doesn't even qualify for 2 shares, but demonstrates the relative risk these other "master traders" are taking and espousing in their trading journals and books.
Those "lookie here" books never expose the relative nature and the simple truth that most of that stuff is far beyond meaningful for most traders. Imagine those 2 shares netting $5.00 in profits. That's a significant and respectable outcome and percentage gain, however, it doesn't even rate talking about, let alone cost-to-carry questions (i.e. commissions, time, lost opportunity costs, etc.).
So, simply put, perhaps these master traders should NOT be idolized so. Hey, I'm not paranoid, but....
Say that cummulatively, Tony or anyone else has taken 2.5M from the markets, and risks $50k - $85k on a few thousand share positions, just to swing from the highs and lows, then keeping this in perspective, one should understand that investment capital size is everything.
Relatively, it appears that most participants and contributors to these discussion panels have less time and overall success monitarily, elsewise they would talk differently (i.e. more substantively, or less inclined to be flippant with their comments). Say that one has a $80k account (maximum) and has survived from this year alone, givebacks & makeups, and then decides to trade like Tony or the other master traders, then proportionally they should risk roughly $80.00. Naturally that amount doesn't even qualify for 2 shares, but demonstrates the relative risk these other "master traders" are taking and espousing in their trading journals and books.
Those "lookie here" books never expose the relative nature and the simple truth that most of that stuff is far beyond meaningful for most traders. Imagine those 2 shares netting $5.00 in profits. That's a significant and respectable outcome and percentage gain, however, it doesn't even rate talking about, let alone cost-to-carry questions (i.e. commissions, time, lost opportunity costs, etc.).
So, simply put, perhaps these master traders should NOT be idolized so. Hey, I'm not paranoid, but....
Limitdown check your math. A 50-80,000 dollar position is greater than 2 percent of 2.5 million not 1/1000 percent. This also is not a too unreasonable risk allotment of capital either. If we continue with your example, only using correct math, 2.5 percent of 80,000 equity can buy a 2000 dollar position or 4000 dollar using 2:1 margin. 4000 can buy 300 shares of a 13 dollar stock. Nowadays many stocks are priced in that range e.g. SUNW, SCH, NITE, MUSE. Continuing on...making a five dollar profit on an eighty dollar position is a 6.25 percent gain. If we apply that 6.25 percent gain to that 4000 dollar position you would net 250 dollars before commissions. Then do that with 5 positions in a day and your ahead 1250 dollars. Not bad don't you agree. And, to top it off your only risking one eight of your eighty thousand dollars of equity. I'll take that any day.