Hi Lescor, Great journal and very nice of you to spend the time you have on it. I am spending today working on getting some automation in place via Tradestation and Ninja to execute through IB. I use stockfinder and Tradestation to scan for setups I read that you trade through echo and I didn't see in your journal if you say what platform you use to automate with. If its convenient if you would be kind enough to say what software does your automation and why you choose it that would be great. If not no worries. (like you I can't really crank out code either very well) Have a great 2010 in trading and in life ! Robert
Any automated software I use is custom written, not off the shelf. I think it's written in vba, but I'm not even sure.
lescor, Good to see your thread. Sad to see the likes of the previous poster still haunts ET but I guess we just add another halfwit to the ignore list.
I guess you do not know much about trading. at some level, liquidity would be a problem. it is possible to generate high returns month by month with little capital since in daytrading, you can utilize the capital multiple times per day.
Get a grip. Corey is one of the top most respected posters on ET. He has posted his numbers for all to see, on numerous occasions. If you took a quick look at his posting history, you would see that. Here are a few: +$320k http://www.elitetrader.com/vb/showthread.php?s=&postid=2124126#post2124126 +$452k http://www.elitetrader.com/vb/showthread.php?s=&postid=2122725#post2122725 +$191k http://www.elitetrader.com/vb/showthread.php?s=&postid=2098201#post2098201 He posts bad days, as well: -$76k http://www.elitetrader.com/vb/showthread.php?s=&postid=2271981#post2271981 For those that don't know, most prop traders withdraw their profits monthly, and their account balances can give you no indication of their buying power or trading size. Tim Sykes is a joke among real traders. When you compare him to someone that really knows trading, you look silly. P.S. Could a moderator delete this post, along with all the crap posted in the last 2 hours, before another good thread gets shit upon and made worthless?
You need to venture "outside the box"....achieving those goals are possible in a perfect real world, however we realize the world is NOT perfect....therefore we need take money off the table and allocate it elsewhere so that we can enjoy a diversified asset cache.. It is called controlling your destiny....simple.... Hopefully we can give Lescor the nickname "Duracell"....
Have you ever tried to trade 10,000 shares in a stock that does 300,000 shares a day? I already lose hundreds of dollars a day in slippage at the size I trade now. In the stock world disappearing liquidity and thin markets are major constraints when it comes to putting capital to work. Your argument is a common one here on ET. People assume you can just mathematically compound numbers to infinity and that anyone who has or claims to have a winning system would therefor "own the universe" after a while. But it's a ridiculous claim for a few reasons. The advantage of a small trader is their size. They can utilize strategies that money managers working with large amounts simply can't entertain because they have no hope of entering the market without completely distorting it. If they tried, guess who would be there to take advantage of the distortion and pick them off? Yup, the little guys like me. They get screwed on their order and a bunch of other small traders make money. Sure if I traded ultra liquid markets like treasuries, forex, ES and the like, I could compound quite a bit before size would become a problem. But those are the most competitive markets for just that reason. With the strategies that I trade, at some point built up profits become "excess cash" that can't be used. I have to either wait for more opportunity through increased volatility, I can move the cash outside a trading account and do something with it like invest it, or I can deploy it into different strategies. Unfortunately those just don't drop into your lap when you need them.
If he is so good then why is he a salesman, running websites, selling DVDs? Anyway, if you don't like the thread, just get out of it, plenty of threads out there to flame real traders and promote Timmy
It sounds like you don't know much about prop trading or trading with professional leverage. You might want to do some research.
Let's keep it simple. I'll bet you $10k that Lescor averages over $20k per month for his trading in 2010. (audited results) Heck, we can even allow Barron to hold the $20k until year-end. Deal?