Let's compare apples with apples. If someone refers to a 20k account, then I will regard it from that perspective in relation to trade size. What you described is a 200k account in 20k increments. There is a difference.
I have more than $100k available to cash upon 24-hour notice. It is not in any broker's account... anyone heard of Refco around here? IMO, leaving much more capital in a futures account than leverage needed is waste of time. I can trade 60 emini contracts of whatever I want tomorrow. I don't want to trade that size <b>total risk</b>, so what's the use of holding more idle cash in there? If the broker - clearing house - somebody wigs out, they can have my <$50k. Also, that prevents ME from having a bad hair day and going rogue in my own account. No possibility of temporary intraday insanity when funds are limited, now is there? Ever had a trading day where in the end you wished your buying power had been much smaller? It's been a long while for me, but I promised my Maker I'd remove temptation first :>) Trade With Reckless Trepidation! Austin
My man Caddyshack made an interesting observation that Austin's and JJ's writing styles are nearly identical and concluded they are the same "dude" as he said. I found this compelling so I did a little investigating and I believe I've found strong proof that they are not the same person. Here's what I found, if you hit the quote option at the bottom of their posts you'll notice that Austin always uses < > when creating special instructions, such as bold, underline,italics, etc. JJ on the other hand always use [ ] for the same instructions. This is good enough proof for me that they are different 'dudes'. I'm sure the truly cynical will claim that Austin is using different characters just to cover his tracks. C'mon guys, what's next a photoshopped picture of Austin in the Grassy Knoll, or maybe he's the guy who staged the Apollo moon landing. Oh, I know he stabbed the Croc Hunter and pinned it on a stingray. Hey Austin, instead of showing ET your broker statement just show em a pic of the lovely Holly. That will calm them down. Rennick
Austin P vs. Jimmy J Trading Capital: Austin P: over 100k to work with Jimmy J: less than 10k to work with Girlfriends: Austin P: (according to the information supplied) lovely blonde who could turn any guys head (now I understand why his posts are always so damn cheerfull) Jimmy J: (ex) pretty redhead (who couldn't get into the whole daytrading thing, wanted stability to support her lifestyle) Attitude towards Animals: Austin P: Big Game Hunter (hey, he told us) Jimmy J: feeds small animals (stray cats are my speciality, but I like the little sparrows too, go figure). I've read all about hunting, and wanted to become expert at using the compound bow, but I just couldn't you know, do it Apparently we both like dogs though ... but I'm more into the shepherds. Years in Business: Austin P: I don't know, I'd guess 10 or more Jimmy J: 3 big ones Ethnicity: Austin P: Southern Italian? Jimmy J: African American / Native American / Caucasian mixed blood Books Austin P: No clue Jimmy J: Sci-fi, Horror, History, Spirituality Movies Austin P: Fill-in the blanks Jimmy J: Foreign, Art Films, Sci-Fi/Horror, but for some reason I can't stand Comedies, i think they are sooooooooooooo stupid! - you'd have to be drunk to laugh at them ... which gives me another idea, I think I'll head on over to Austin's backyard party. Later folks, JJ
jj, there is one big difference you ain't mentioning. at least you post your trades in real time in your pivot points journal. you have admitted yourself the performance hasn't been that good, but at least you are transparent.hindsight 20/20 snakeoil boy austin always shows up after everything is over talking about how he made all kinds of mistakes and still made 12k in one week . then of course he spends the rest of the time sounding like robin leach bragging about all the stuff he's going to buy. then the dude posts pics of some chick saying it's his girlfriend but won't prove it's her by showing a pic with the world champion bloodline springer pups he just bought. and whatever happened to the trading contest, i re-challenged 3 times now and someone appears to be hiding. SHOW US A PIC OF THE CHICK WITH THE PUPS OTHERWISE YOU HAVE ZERO CREDIBILITY. the shack
Caddy... I thought we were friends? What about "having my back" from now on instead of blasting me like you once promised? That's fine, some people in this world are true to their word, some just aren't ** Everyone still reading this thread (both of you), let's talk for a moment. I'll speak in the written voice of a male perspective, and invite all females to follow along. Suppose you are a girl, looking to mix & mingle with some guys. You walk up to a group of men, a bit hesitant but you work up the nerve to introduce yourself. Proud of your initial bravery to break the ice, you hope for a receptive welcome in return. Here's what you get: <i>"Hey there, who do you think you are? This is "our house"... whaddya want with us? We know what yer up to... one of those gold-digger chicks just trying to take us for a ride".</i> You step back a bit, surprised and a bit shocked at the cold reception. So you try to make friends one more time by defending yourself. The response to your approach is met like this: <i>"Listen bitch, we think you are scum, OK? Prove to us that you have good intentions. Cook us a meal. Prove to us you can keep a house clean. Let's see you iron some shirts. Far as we're concerned, you're nothing but a lazy gold-digger not worthy of our time."</i> ** Ladies, after being treated that way by a group of guys, how many of you would be planning on the next date? Gentlemen, how many of you would treat a woman who approaches you that way? What if they are indeed gold-diggers at heart? Would you lambaste all women by blind <b>ass</b> umption first, or have some courtesy & respect before passing final judgement? *** Had I ever once been asked nicely to show proof of anything, I would have. Instead, it's always been demanded that I prove everything first, right up front. And I ask, for what? What's in it for me? After posting all sorts of "proof", if I pass the muster of anonymous lurkers who were once detractors (and now presumed friends) it was suggested I might, if I'm lucky, be extended some common courtesy & respect. Wow... doesn't that just make me want to do backflips and handstands. So... any wonder why I've always reacted the way I have? Make sense? Back someone up on their heels from first contact and what do you expect? A big, warm kiss or defensive posturing? How would you react? The older I get, the more I realize how little I know about life. There are two things I feel pretty sure of in this case: #1: Too many people assumed I was here for an agenda... and I'm not. #2: By pure odds of probability, I'm willing to bet at least one of the people who lambasted me (now presumed to be friends) all over this forum have never made $10,000 net profits in a single session, ever. By the same token, my wager says at least one of the former detractors has not made $16,000 net profits all year, let alone since September 4th to date. Who's willing to fade those bets? <b>http://www.elitetrader.com/vb/showthread.php?s=&postid=1203040#post1203040</b> The proof you seek will be found at tonight's backyard party. See you there! Austin T Passamonte (no J's in the name)
Actually, CS, I'm taking the thread in a different direction. Partially because of the mediocre results. I'll be taking it in a direction where the setups are obvious and very clear, and instead of being used to trigger trades, the Pivots, Support and Resitance levels will be used to take profits. This will allow traders who want to, to study, view and take the trades as they want to. Why? A trader can't post real-time on the internet (too unstable, too slow), some trades require quickly cutting the trade to avoid loss, and other trades are actually just head-fakes and require reversing position (of course, taking those high-end system black box signals, you already know this), and I can't do all of that on these threads, partially because I can only make 1 post every minute, but also (and mainly) becuase it is a distraction from my own trading. A big distraction (hint). I hope this last question has been resolved to your satisfaction on the other thread. To tell you the truth, what I don't get is how you guys continue to question Austin, when I ran his money management scenarios through a couple o' weeks of my charts after last weekend, and printed my retracement - and PM'd him with an apology, (and on top of this, he even posted his more aggressive money management model, and then posted another, more conservative model), I mean, sh*t, do you guys not trade real-time????? or what? Tell you what, use his more conservative money mangement model (which he has posted very simply and very clearly over at the "backyard party" thread) while taking your signal trades, profiting immensely from information he has freely distributed, AND re-invest the profits (as I'm sure has been suggested to you previously) as recommended. While you're doing this continue to trash talk as much as you possibly can ... see this is what I'm going to be doing for the foresable future, sans the trash talking. Best Regards to All, Jimmy Jam