Tough Month?

Discussion in 'Trading' started by Steve Tvardek, May 25, 2005.

  1. In my office,

    Supertrader #1 was up like 11k with is not too meaningful when that can be lost from just one position going wrong. Supertrader#2 is flat since he took off in the first week after wiping out his May gains in one day & went for vacation. He made 55k in April.
    Superscalpa was up a little over 10k, which is like 1/2 to 1/3 of her usual (as in average, not great) month.
    I somehow made it to #3 or #4 for the month with 6k and I traded a total of 12 full days. I'm very satisfied with that cause I put more time into my side job and made great cash overall. But it was a very tough month for the group, one of the worst.
     
    #41     May 31, 2005
  2. You might to smoke some of my high end weed to understand this part.
    With small shares, pair trading will get barely allow you to survive that is if you actually do it right. Hence why ppl jump in with size. These stocks don't move that much.
    It ain't about just making money cause 100-300 a day trading in NYC is a miserable life.
     
    #42     May 31, 2005
  3. No thanks, don't do drugs, and won't ever do them, I don't want to turn out like you! :)

    Listen, even you could hold a combined pair portfolio of 200k overnight, capture a theoretical edge of say 12% and add another 24k to your bottom line. Could you use a 24k a year raise? Now add to that, a few other strategies, and WHOLLA', you have a business plan to put 120k on the board and triple what you normally make delivering pizzas. :) I know, it will take a little bit of work, but imagine what it would be like giving up that second job:)!

    It has been my experience, that the enemy of pair traders is concentration and size, trade 10 pairs with 1000 shares, rather than 2 or 3 pairs with 3 or 5k shares and you will be better off.
     
    #43     May 31, 2005
  4. You need to do em cause god knows you need em badly. That and a blowjob.

    Why stop at 24k, why not make easy millions. Shiiiit, 12%, just throw 20 mil down and make that $2.4. It's that easy cause there is NOONE else out there trying to do pair trading, even the 1000s of hedge funds running their computer programs. In fact there is so little competition in pair trading, that the pair NEVER stop working and never get disturbed every week.
    Seriously, I do a pair trade about once a week, to be honest, there is not much of an edge there. After slippage and the penny fighting by the programs, there is not much to be made unless you wanna flip size. There was an almost obvious pair trade with the steels last week, too bad the move was pathetic as every other day trader & program jumped on it. Specialist tore ppl apart, it was that easy.
    You also seem to be under the impression that it is possible to trade an unlimited number of stocks & strategies at the same time but realistically, if you're gonna run a new strategy that means taking time away from what you're doing

    You might wanna get details on my "pizzashop" located at 9 W57th street. I actually like the gig, lot of interesting info, cool people, very relaxed. I'm typing this message & getting paid.
    Better yet, think of it this way. I have side income in times
    when even seasoned traders are being ripped apart by this market. Why would I even want to quit it, the way this market is going. But then you're the guy that advises to heavily size up when having tough times & adjusting to a new trading system, so go figure.


    You're right, but I don't think you can even find 10 reasonable pairs in this market. It's not easy, free money, pair trading is very competitive. Pairs are constantly being whacked out of line because too many ppl jump on the wagon. Still an interesting strategy and there are times when the trade just presents itself.
     
    #44     May 31, 2005
  5. Hydro,

    Good luck with your pizza biz, cuz you ain't got what it takes to be a great trader! For just a few minutes, stop and think before you respond. A small trader has a tremendous edge over the large players who try to move positions around. The way I see it you have two problems, a piss poor, whiney, know it all attitude, and you have very little vision. That is you are unable to see the big picture, even when it's staring you in the face. The first problem could be helped with one of Anthony Robbins programs, the second requires you to constantly seek out mentors. Good luck at finding one that wants to work with you.
     
    #45     May 31, 2005
  6. reg

    reg


    Are you talking about yourself?
    Could you please heed Hydro's advice and just SHUT UP!!
     
    #46     May 31, 2005
  7. I swear to god it's like crabs in a bucket on this site, perhaps it's time you step off the band wagon! It's no wonder many successful traders no longer bother to post on here.
     
    #47     May 31, 2005
  8. Are you stuck on the pizza biz "joke" cause it comes from personal experience? Really, I'll help you get a sense of humor, a much funnier and more effective line would "giving handjobs at the corner for 5 dollars a pop". You can also substitute "blowjobs for 10 bucks a pop" in there also but apparently you barely have an idea of a blowjob, being that you are in such dire need of one.

    Fix your arrogant, condensending, insecure attitude and you might be worth responding to with some respect. Edge over large players moving positions, lol, this whole market is just day traders, programs & hedge funds. Who are you kidding? Big orders, dude if there are such big orders, no point in pair trading when you can catch quick swings.

    I'm glad you feel the way you do about me cause your opinion is worth as much as a knife at a gun fight. You think you're all that when in reality you barely stand up to your peers in trading. Your comment in a previous thread stating that 2005 is turning toward becoming your best year is hilarious enough. Trade 2000-2005 and get 2005 to be ur best year with 30k a month being a good one for you. Well someone obviously missed on free & easy money handed out 2000-2003. Lemme break it down, guys that could not make a dollar gross in 2nd half of 2003 were banking 30-50k a month in 2002 and that's 6-8 months after starting trading for the very first time. No wonder you can't figure out how much rougher it is for guys that started in the last 2 years, you're too dumb or stubborn to see how ridiculously easy it was during your first three. No way you would have lasted my shoes.

    Have the last word, what does it matter the thread is ruined already. My last piece of advice for you is to get laid cause you need it. Get some good use for all that capital you have. Hey, you can even have her (him???) praise you and tell you what a great super trader you are so that you can stop posting that sh*t on ET every other thread. Might cost you a little extra, but you can handle it.
     
    #48     May 31, 2005
  9. reg

    reg

    mschey,

    Will you stop sending me PMs? I am not interested in any communication from you.
    In fact, I just want you to SHUT THE F*CK UP and go beat your chest somewhere else.
    What a dork.
     
    #49     Jun 1, 2005
  10. Quit making excuses hydro, everyone always says it was so much easier trading back then, blah, blah, blah. The fact of the matter is that those who succeed in the market leave clues. Winners don't make excuses, they find ways. When others are whining and complaining, they are looking for the next profitable trade. When others are rigid and inflexible, they are adaptive and conforming, adjusting to the market on a daily basis. When others fear change, they embrace it, knowing that when one door closes, another one opens.

    To all other traders, Questions are the answer. Instead of "this market sucks!", ask yourself, "how can I make money in this market?" "what am I seeing in the market today, and How can I make money with this information?" "Are there any intraday relationships that I can exploit?" "What are other traders doing to make money in this market?" These are a small list of the questions I ask myself on a regular basis to keep me on track and in tune with what's going on in the market.

    It is helpful to develop a group of traders that you can exchange ideas with on a regular basis, a diverse group with diferent trading styles, will help ensure that you have fresh ideas to work with.

    Good trading!
     
    #50     Jun 1, 2005