Let's Trade III, by Sicktrader

It is interesting that Traderzones and Blowoutski have got into such a tizz about this to the extent that that have thrown insults and accusations without even letting the OP get on and show us if he can walk the talk.

I wonder if it is down the the fact that they treat profits differently to the OP. If I understand the OP correctly (and I would love a bit more clarification on the MM before he disappears) he is extremely aggressive with leverage but only in terms of being prepared to risk profits he has made. I see it much like an entrepreneur being prepared to re-invest every penny he/she makes back into growing the business. If he starts taking losses my understanding is that he will scale back the contracts just as rapidly until he is back to just one contract if and when all the profits have gone.

I really don't understand why this is considered suicide by Zones and Blowoutski. Maybe, however, as wannabe hedge fundies they come from a different perspective where they see account funds as just what they are at any moment with no sense of original capital and profits. They will therefore not be able to see how it is ok for the private trader to be so much more aggressive with profits in the account. I don't know if this is the case or not, I'm just trying to understand why they got into such a hissy fit about this with no apparent justification whatsoever.

Fwiw, the OP's system does not seem so radical anyway. I was reading about an organisation someone posted on here that lets you trade their funds once you have made $1,500 profit on 1 contract on a simulator. The deal is that once you go live and have made your first real $800 on one contract you can trade a second contract. At +$1600 you add a third and so on. Almost identical to the OP's method. Of course, if you go back below one of these levels you drop straight back down on the next trade. You are highly leveraged, but only on realized profits. If you lose you drop right back down and if all the profit goes you are back on 1 contract or the simulator. I don't know anything more about this organisation but they (apparently) let people trade their money using this approach. Doesn't sound that mad to me and nor does the OP's approach.

Sick - just in case you vanish before demonstrating, can you explain exactly how you scale back down when you take losers - it is similar to how I described above? Also, can you tell us how you start off with a larger sum than just the $700 for one contract (let's say a $7,000 pot) and what you do then if you take losers off the get go?

Many thanks.

 

what system??!!

 

In one context it could mean your account explodes into smithereens. If, during a trade, you suddenly find a plethora of smithereens lying about, please post a clean macro shot of them on this thread and I'll let you know if they are remnants of your account, as I'm a Smithereen Identification Expert.

In another context it could mean your account grows increasingly larger as in "Honey, can you go to the store for cake and ice cream because I'm busy blowing up the balloons."

 

Sick is a prof gambler, and it's interesting to hear a prof gamblers thought process and approach during his foray into trading.

Stay around Sick, and let's see what we can learn.

Sick, do you play poker online?

 

Mandy, I think this OP is using the aggressive D'Alembert system for "money management".

D'Alembert's basic philosophy was that for every correct outcome it was reasonable to be expected to be wrong on the next ;so put it in trading parlance...increase by a contract if wrong...reduce by a contract if right. The OP is basically doing the opposite...he has a chance to achieve a profitable outcome, but not to the expectations he has set. His win /loss ratio will have to be spectacular and the losses cannot be more than 3 /4 in a row...and even then the clock will beat him.

Money management , of any type, is not worth a crap without a good system and strategy that yields better than 1:1

I somehow doubt we will see too much of this guy in the near future....it was an "entertaining read", at best.

 

Yes, I have decided to leave this place and go back to my last home, amongst people who are lot like me - winners. It’s a place where they have “think tanks” where people discuss strategies without bashing. It is a place where winning money comes first, and everyone has a bit of fun in the process. It’s a place where posts are never edited or deleted by the mods, they just move them to a place called the “Asylum”.

No, I didn’t to stay around long enough to reach my goal, but I would have, believe me. A group of people here get on my nerves like no other, and something fun has turned into a train wreck. I am glad that a few people have seen the light, and to those that haven’t yet but want to, just send me an email and I’ll eventually answer it.

Hope you guys find some winners.

Cheers.

PS: Never sold anything, did I?

 

Where you going?

 

I'm sorry to see sick go, but this does appear to be a self-fullfilling prophecy.

 

You aren't the first to be put off posting by the likes of TraderZones. I'm not sure why he isn't banned considering the damage he does.

Thanks for the entertainment anyway.

 

They should put a warning on the front page of this website that anyone who doesn't agree with the likes of traderzones and blowinsky and will be run out of town on a rail. Adios. I'll never be back.