"learn from your mistakes and adapt" I don't think it'is that simple , joey has a point. If you trade large size you are exposed to large risks no matter what you learned from your past mistakes (exiting too late, routing to the wrong exchanges or falling prey to the specialist tricks) . I think it would be more interesting if you explained how you manage risk (ex: do you use emergency stops, are you ready to hedge with options, etc.) and find liquidity you can trust to exit profitably or with a small loss.
hey if the blotters of these guys are true that what they're doing is incredible. in all facets of trading a few can exel like that. if everyone played the few penny game there would be 3 million shares on each side of lu all day long.as the previous poster said what do you when you you're down 2 cent on 100k lu?do you sell or double down?
Ok I am back and going very slow. Bought this at the close Fri and that is all I still have. But I can do some good tricks now
kicking, i see your point that you cant learn from your mistakes, IF you get caught with big size on a news event. I would think these guys do their best simply to get out with the best possible loss. however, the point i would make is that you LEARN to believe in your stats/numbers. maybe over the 1-3 years that you scalp LU with monster size you have an adverse drawdown every 6 months due to break news. so you LEARN to believe in your trading/skills and understand that you will have days over the course of the year with big losses due to news/events. but the successful trader will be back at it the next day, with the same size and strategy because they believe in their numbers. just a perspective, to your question patrick
I buddy of mine who runs another fund gave me the heads up on that one so I took a small position. He found it off of the Large Volume Screen on like 6/9 or 6/10 and has been waiting for pullback. Since I had been on vacation I figure I would just listen to him and see how it goes.
3 for 3 and a breakeven in EUR & JPY. still 1 lots. i am done for the day, as i am bored and going to work on the house instead. patrick
EchoPatrick you are really not bringing anything constructive to the discussion. Are all traders like you at Echo? I bet you even work as a mentor in your office huh ? I sure would not want to have to sit next to you . I was not talking about a news event, if you are caught on the wrong side in a news event with 50K shares you are taken out to the cleaners. I am talking about moving in and out with limited slippage and avoiding losing trades on a daily basis.
kicking, sorry you feel this way, yet i have been able to share with people on this thread, and also i have asked and learned some stuff from others at this thread. i have noticed over the years that lots of constructive input goes on with emails and private messages. no i dont mentor anybody. the only person i have ever sat next to trading was Lescor (Corey). you could ask him how it was trading next to me. no i dont trade from an office ... for the last 3 years i have traded from home. patrick
... and is it the responsibility for someone who posts here on ET, to "bring someting constructive to the discussion"? i have been posting here on this thread, with an alternative motive and that is to met and chat with traders who trade the EUR and JPY because they are somewhat new to me as a trader. And simpy by posting some of my daily blotters, I have been able to to so. patrick