The "staff's" goal is $100K per day. They hit it almost every day. We've seen them do it for months (including their "footprint" on the tape action in the first bullseye of the morning). He established the staff to follow his rules for trading because they can trade his money (not sure if there's also outside investor's money there) in a major way, and Franz doesn't have to carry the stress of those size of trades (1-2,000 contracts at a time - and no, they don't go through as 1-2,000 contract orders at one limit price into the market, either on entry or exit).
Franz's personal daily goal has been 10-50K per day. He preaches that everyone in the room should quit after hitting their daily goal. Yet, he still trades all the signals during the day, so he can be "live" in the game with the other traders in the room. He normally cuts his contract size per trade down to 5-10 after he's made his goal in the morning.
Yesterday, he failed to follow his own advice on this matter, and got a drawdown after he was up handsomely in the early morning. Today was just a plain tough day for his type of trading (going for rebounds against a trend). To his credit, he didn't throw in the towel at the last ball-breaking dip to below 1290, but instead held on to work back a $150+K loss to a $66K loss for the day.
I don't know where someone thought that he's going to sim trade tomorrow. He's going to trade real money all day, but vows to follow his own advice and shrink his contract size considerably after he hits his goal. He won't trade on Thursday because he's going on vacation to Mexico for the long weekend.
He doesn't sim trade because it doesn't keep him focused the same as with real money. I think that most all of us here in ETland know that sim trading is much different psychologically than real money trading.
Franz's personal daily goal has been 10-50K per day. He preaches that everyone in the room should quit after hitting their daily goal. Yet, he still trades all the signals during the day, so he can be "live" in the game with the other traders in the room. He normally cuts his contract size per trade down to 5-10 after he's made his goal in the morning.
Yesterday, he failed to follow his own advice on this matter, and got a drawdown after he was up handsomely in the early morning. Today was just a plain tough day for his type of trading (going for rebounds against a trend). To his credit, he didn't throw in the towel at the last ball-breaking dip to below 1290, but instead held on to work back a $150+K loss to a $66K loss for the day.
I don't know where someone thought that he's going to sim trade tomorrow. He's going to trade real money all day, but vows to follow his own advice and shrink his contract size considerably after he hits his goal. He won't trade on Thursday because he's going on vacation to Mexico for the long weekend.
He doesn't sim trade because it doesn't keep him focused the same as with real money. I think that most all of us here in ETland know that sim trading is much different psychologically than real money trading.
