Hi Jim, would you care to share a little more about yourself ? I've noticed your imput on this board in the options threads and would like to know why you chose to post here and ...if you care to share...what your basic trade/strategy is. tia Richard. I'm really liking that name has a very solid ring about it.
Richard... I have many years in the business and I donât really want to get into the specifics on my background. I am currently with a group that runs several strategies... dispersion, off floor liquidity infusion / prop trading in a few dozen names and our own prop model on S and P options both options on the cash and futures. I sit on the prop S and P desk by choice and when we have people out Iâll work the other stuff but the S and P stuff is my baby. Itâs a static model and its only front month stuff so there is a lot of patience involved. As I said I have been in the business a long time and I just really enjoy real discussion about options. I donât, on the other hand care for some of the shenanigans that go on at some of the other boards where I have posted. I recently learned of this one and itâs my understanding that itâs monitored and a lot of the tomfoolery that exists elsewhere on the net does not go on here. As far as the name goes it grew out of a mockery of some sad character who last year or so posted all sorts of phony trades on another board and I could not resist mocking him. I will gladly refrain from that sort of stuff here, but as I mentioned I never see the point of posted after the fact trades or bragging about profits which cant be proven. Nice to meet you Jim
I can't believe I overlooked your last paragraph. But the answer is resounding no. There are no glitches that's allowing me to carry expired options. That's not possible because it's not only unethical and against the policies of Collective2, but this "glitch" that you're fabricating would be affecting the other 20 some option systems that are on C2. You should know better because you have a handful of systems on there, no?? Unlike you though, I don't scam people, not my cup of tea. BTW, my "drawdown" currently is at ($828,025), yet Pinnacle is near the highs, how's that possible smartass?? I let you figure that one out.
Your open PnL last week was negative by $754,000. That's really spectacular. Obviously a large portion of that loss is expired positions. Or are you intimating that you're holding a loss on options yet to expire of 3/4 of a million in fantasy funds? Apparently you're having trouble with the word, "open" as it applies here. This loss reflects options yet to expire? If not, there is no explanation other than you hold these worthless bets through expiration to avoid an offset and mark-down to your PnL. In that sense they're technically "open" yet no longer trading. I doubt any of the other vendors would be thick enough to attempt a similar scam. I hope the $.99 per subscriber is worth the ruse. Let's not forget your last-place performance in the usenet bet: System: Return: Last week: 1. Daily Swing 97.9% 97.3% 2. Riskarb 69.7% 63.4% 3. Black Tulip 16.7% -8.3% 4. Pinnacle -47.8% -47.8% http://groups.google.com/group/misc...karb+competition+week&rnum=8#e6bca294c613ab38 I came in at the top of the usenet bet... "Daily Swing" was trading futures, and our friendly wager was for option trading. I stopped trading the C2 account shortly after week 23, and never logged into the site again. I know the glitch is/was endemic, as I left positions in the account which should have expired to spot. Bro, you entirely FOS as the numbers don't lie. I am done with my involvement in your pathology. Don't spend the $.99 all in one place. Have a great 4th... spend some time with your family.
You keep fabricating stories because you're so negative and you can't handle the truth. Just for once, try to be civil and original. If you can't prove that these positions have actually expired, then you deserve to be called a smartass. Also, the reason I wanted you to enter this "competition" was to pull your chain to see if you really can trade options successfully on a consistent basis as I only had a year under my belt at that time. It turned out that a monkey would have outperformed you with his eyes closed. Of course, that didn't stop you from starting additional systems with "brilliant" results. http://www.collective2.com/cgi-perl...447&session=583820289781312318860407157334372 We can see clearly from this rather brilliant system with very high sharpe ratio of - .526 that it had nothing to do with the "competition" as you started it in 8/18/04, 8 months after.
Ok. I think I was too harsh on you . But maybe, just maybe you were trying to play catch-up after your first fabulous system spiked down to -300k http://www.collective2.com/cgi-perl...374&session=583820289781312318860407157334372 I'm a nice guy so I'll just give you the benefit of the doubt...Try again. I'm sure that C2 would love to take your fee once more.
The second account was opened before the usenet bet ended. I made 5 trades in the account in one week and left it when Matt began talk of charging subs. The 5 trades took place before the usenet bet ended. The open option positions expired, but didn't expire to spot. Yeah, I consider that a glitch. The software was incredibly buggy at the time; margins increasing 200% due to its failure to properly margin flies and backspreads. C2 would often disallow an option ticker that wasn't in the C2 dbase. There were positions in the second account that could not be offset. There was never a DD larger than 10% in either account. The DD reflect some mark to market action after the positions were left to expire, but never were assigned or exercised to spot. You're intent on hyping a non-event to cover your scam. Have at it. You lost, period. Interesting that you fail to explain that your nearly $900,000 draw-down cannot possibly be vetted to an open and yet to expire option. Your failure is equivalent to a lie. Any time you'd like to bet for actual funds in lieu of your fantasy account, let me know. I'll kick your ass again. $10,000 to $100,000, choose the wager. All you have to do is send me a PM. Your knowledge of this "Open PnL" glitch allows you to scam your 99-cent subscribers. I'm done explaining your BS... I'll only respond to an acceptance of a bet. System: Return: Last week: 1. Daily Swing 97.9% 97.3% 2. Riskarb 69.7% 63.4% 3. Black Tulip 16.7% -8.3% 4. Pinnacle -47.8% -47.8% http://groups.google.com/group/misc...karb+competition+week&rnum=8#e6bca294c613ab38