This was my initial impression as well. Others have already asked in a general sense his decision-making process---to be a little more specific I'd be interested to hear his theories on scaling in/out of positions. Doug
I don't think I've ever held myself out to be a "trading guru". But I can tell you this my friend, you don't trade as long as I have without seeing plenty of changes.... changes that required adaptation, learning new tricks. I've asked questions most of my life, hopefully to learn something new. I don't assume I know everything. The fact that YOU find a question funny says a great deal about you. If you disagree with points that I make, please disagree with it. But this type of post does you considerable disservice. OldTRader
Maybe you were too dazzled by the rapidity of the trades and you forgot he was using a 5-contract increment to scale in and out of his position which got as large as 30 contracts. Someone already posted the answer to your apparent riddle: Great job, AMT4SWA! You obviously opened some eyes around here. Where did all the guys who are averaging 1-pt/day go?
My guess is they are too busy laughing all the way to the bank, because if they AVERAGE one point per contract per day, they will be able to make 100000% per year.
I've watched AMT4SWA trade in another room for a couple weeks now. I sometimes think that he's gotten his hands on a chart of the ES a day ahead, he is so accurate in his predictions of price movement. But there there are two downsides to watching him trade. First, at one time or another he manages to break about every rule in the book, so he's a questionable role model for anyone learning to trade. Remember, he's been at this for quite a while, and has great instincts. Second, there's not much that's more intimidating than being in a trade when at the same time he takes the opposite position! He pulls trades out of thin air that leave you thinking, "What the hell was he seeing?" His skills are truly amazing.
No...I didn't forget that. Maybe you forgot to read my post. AFTER you bother to read my post, perhaps you can explain to me how someone else answered my apparent riddle. Or hell, maybe you can even explain it yourself! OldTrader
icarus, you should know what happens to people who fly too high. Don't mock the 1 and 2 point-average performers, and don't confuse mean with variance. Without trying to detract from today's fine trading performance put on by AMT, I can certainly identify with the style and being the modest type, attach a snapshot of my trading account after a similar performance (averaging down, moving stops) last Thursday (September 18) which yielded a different result. Who was to expect such a strongly trending day? Well informed sources assure me it's just reversion to the mean.
Take a chill pill. I read your post and was merely pointing out what you're missing, which was the question you asked. Or was that a rhetorical question? I'm not sure what's not to understand about calculating average points per contract to compare performance. Maybe you ARE missing something. Time for a remedial algebra course?
Mr. Sub, your point is taken. I'm not knocking anyone who makes any amount of money consistently through trading. I do know, however, that a 1-pt/day average is just ordinary performance in the spectrum of profitable trading. To insist otherwise, as some have done on ET, is plain silly. If I came off sounding glib, well...I'm just having some fun. Good trading to you.