I'm getting back into trading again after a large hit in 2008. I've been off for just over a year and getting ready for one final (and hopefully successful) attempt at trading. After about 8 years being on and off, I'm finally taking the time to put together a trading. Looking forward to re-opening my account within the next two weeks and putting the plan into action. This is my first time joining a trading forum and seeing this thread on lescor's journal is exactly what I'm looking for. All the best in 2010 lescor and looking forward to reading your journal! Cheers!
Yes, the same list daily. Around 900 stocks. I would trade ETF's or futures if I traded just on technical patterns, especially swing trading. But I am not currently doing anything like that.
I've only had two losing months since I started making consistent money, and they were relatively minor. The nature of one of my main strategies is that I will take some painful hits sometimes. The worst for pure pain and speed was August '07 when the first hint of the credit crisis sprung up. I think I was down about 70 grand in like 20 minutes. The volatility spiked so much though, I don't think it even ended up a losing week. I've always strived to diversify my strategies and that has proven to be a real help in smoothing out my equity curve
Thanks for sharing trading info... Two Questions... 1) What percentage (out of 100%) are your profits made using your Opening Orders R-TO-M Strategy compared with the rest of your strategies in total... 2) How late into the day do you hold your opening orders at the very most... 10 mins in, 30 mins in, 1 hour... what is the longest time period you have held them.. thanks...
No need, all you have to do is click at the bottom where it says .... 'Receive an email whenever a new post is added to this thread by subscribing to it.' Knock em dead Corey.
Hi Lescor, This journal is truly appreciated. You and Acrary are among the few traders that share insightful information on trading and contend that it's feasible for a trader to earn triple digit returns annually. As to trading equities over futures, how do you spot the "inefficiencies" in a given stock? I've been focusing on the e-mini s&p, as my outlook is to master the price action of one instrument and become an expert at it. Given the competition and appearant efficiency in the s&p 500, it seems that mean to reversion would be ideal for such a market; however, it's been extremely trendy this year. The intraday leverage offered on the e-mini is comparable to most prop firms, without the requirement of licensure and sundry office fees. Also, the likelihood of a "black swan" event is greater with a single stock, as opposed to the s&p 500. In any event, would you recommend that I reconsider my strategy of trying to specialize in one market & one instrument, and perhaps instead transition to the equity market? The biggest obstacle for me is developing the edge to identify inefficiencies or mispriced stocks. You had a posting in another thread entitled "What Are Your Trading Breakthroughs?" where you stated the following: "The number one thing that's helped me is to make it a core belief that I absolutely, positively never know what's going to happen with a trade, since each result is a random event." I believe that statement coupled with Steve Cohen's statement that "This is not a perfect game... you're going to be wron alot" has been amazingly critical to helping me understand that the market is a "numbers game". As cohen said, most of his trader only wing about 50% - 55% of the time, with his best trader having a win rate of about 63%... Walt