This is a particularly neat post where T28 is using a new alias. Where is the money? It is in the market's continual offer. You would like to see the money. Open an account and send me a limited power of attorney for the account from the IB using he IB's POA document. Send it to Eric the guy you gave your bank account and wire Xfer numbers too. His mom or dad will drop it off here and it will be FEDEX'ed to your broker. I will stipulate that you cannot see or have a copy of any document with my signature on it. Do not override any of my trades in your account. For the day I trade your account I will cancel the POA at the time in that day when I have doubled your money. Do NOT send any money to Eric. You pay all fees and commissions out of your pocket; no profits are to be used for any costs or taxes. They are the price of admission for your IB and you. Send all of the profits to DR's without borders and specify it is to be used for a generator, an oxygen generator and a surgey level field tent. The rest of the 50,000 dollars (your beginning account value) profit they can use any way they want. I am happy to report the four days spent by one of our local traders and his collegues triaged 1,000 people in that period with 5 docs and the other three were doing bone surgery. This is only going to happen for part of a day so you can be shown the money, then make my time worthwhile. Check with Dave he may be finding out who I am.
This genre is an unfortunate money making strategy of a perosn who is uninformed. To have entre into the trading world it is a good idea to know how markets work, have a working knowledge of practices, and be a successful trader in a developed context. The financial industry is always a popular and attention getting place in terms of the CW and its myths. There is no connection to the market's offer and CW type performance. Think about it. All Schwager got was a Studs Terkel once over from the wizards. Go through the last 1,000 books published and look in their indices. Tab up the common 750 words that have to do with trading from the books that emege as authoritve. My list is color coded for quick reference. You are keeping yourself locked out of where the action is. Look at your beliefs. This excludes you from conversation with anyone using a high money velocity strategy. Let me explain money velocity to you. Look at the 15 trades I posted yesterday. There were five trends in which they occurred. What was the money velocity of the trader's profits he took in each of those 15 trades one after the other? The people who trade these contracts are listed on the T&S. I put up prints of my trade times in the past and everyone saw all trades had partial fills on the T&S. Does this mean anything to Covel or his cohorts? NAW. As he says it is gibberish. What does 15 trades look like on a print where each one is a group of partial fills on the T&S? Right now you cannot even concieve of how thoroughly annotating charts yields and "anticipatory" set of trades. The order of the 15 trades was layed out like clock work yesterday for all to see, digest and get to a point of decisiding" I bettr get off my ass" and learn something. your mind is such that no one will even talk to you about what is going on. Imagine that you met someone when you were hosting a reception and you blew him off. you did not listen to him explain how to take the market's offer. Yesterday you had the chance to see and understand 15 consecutive proftiable trades that were all "anticipated and then just racked up by taking the market's offer. You could have know from past posted prints of how partial fills are needed to take each of these 15 trades. Money velocity is a term that measures how many dollars a minute are being made in a market. If a trader is doing trades in groups of three and he does 5 groups of three in a part of a day whenb the market is slow and he has to get partial fils on each trade, how much money is made on oe brief movement within a trend of three moves? You blow off pople who are standing in front of you and they just think it is funny that you are so strong about not letting yourself hear from what expert traders do. A guy who has less than 40K in the market can be doing over 100,000 tradiing part of a day. You cannot recognize any of these kinds of people in a room. What is the common problem all of these people face? They can't lay off their capital on others to trade it for them. So much capital is comming at them they cannot lay it off anywhere to people like themselves. What would happen if someone approached you and said "Ill teach you how to listen and ask good questioins". You would say something dumb or lie to him. Give yourself a break sometime.
Thank you for posting this trade. If you don't mind my asking - what was the specific trigger for the execution of the short -- did you hit the sell when the inside bar (2) formed on decreasing volume or when the next bar (3) was going red on decreasing PRV? Thank you.
Here is a past example pushed by a trainer, repaiman for traders. The repairman is named Steenbarger. He video tapes clients and then rehab's them with respect to their nager, anxiety and fears. He uses a model from a ighter pilot trainer. OODA. It is a betting based approach His client is trading 60 times a day. the client uses 400 cars a trade. The net profit per contract per trade is a little less than a tick net. Dave you can run the numbers. you could interview this guy and find out wht Steenbarger has a retainer agreement to treat this guy continually. Look at his money velocity. Put yourself in the trader's place. Would you be angry, anxious and fearful. 24,000 turns are done a day and the net per is a little less than a tick. Say it is 5 bucks net per unit for Steenbarger's client. Mr black od turning 250 bucks on 20 ticks with 1 car. The client is running 400 times the capital of Mr Black and pulling 5 bucks a turn and MR black is pulling 250 a turn doing a turn a day instead of 60 like the client. The client makes 10 to 12K a day on unlimited capital (that is how it is put by Sttenbarger). Obviously the guy is maxed out and only making a small net per trade. How could he make less. The smallest would by a tick divided by 400. He is getting almost a tick on average where 5 bucks is a tick. This is a LOW money velocity. The trader is given capital for margining 400 contracts. He does 60 trades a day with 400 cars and makes 10 to 12K a day. T28 has 50K and it will be traded 20 the 40 times in a day like those 15 trades yoiu saw yesterday (Okay you didn't see them because your mind cannot let you). What trade (its number in the order of trades does T28 watch his money pass 10,000. Divide 10,000 by 50 (the cars that will be in use) and divide again by 50 (the value of a point in ES) and divide by the points in the average of those 15 trades yesterday (use 1 since it is small and less than the real value. It is trade 4. We have 11 more to go. 4 into 11 goes a few times. Now fill in the rest of the day. Call the fifteen trades half the day since they were less than half. I have to stop trading T28's 50K at about 20 trades into the day if I only pull a point a trade. LOL.... The client of Steenbarger is his numero uno trader client. Steenbarger makes a living coaching guys like this. You don't know the client as you have said in the past. Money velocity is foreign to you and so is how high velocity traders trade. Hwo many contracts deo Mr Black need to match the client? Divide 250 into 10,000. 40 contracts doing one 20 unit trade a day. What if Mr black does 4 trades a day? Then he makes 10K with 10 contracts. What is the risk of trading trends, each of whicch which has three moves in a known annotatable order of events. the trends overlap and they have the same pattern long of short. the pattern occurs over and voer many times a day (I showed five as the day unfolded for part of a dya) So you need a vocabulary. You need to learn to listen. Stop blowing off people who can trade with your comments that tell them you know nothing. Don't ask a trader what his money velocity is. Say this: don't those partial fills get you? don't they fill your print so fast, you run out of paper priting them at the end of the day? Steenbarger's client really has a problem cause his IB is making so much money....no he isin't thay have a seat he trades through at his office....lol.. But he only gets a little less than a tck per car on one of 60 turns a day. Lets see the last 6 trades including now are: short long short; long short long....... and they are running 2,3 and 4 points each. Here we go loooong (Bar 69)...... See the ask WALL.....
I am personal friends with Brett. Should you be talking about "his" clients? What is it you need, I don't follow the jargon. TINS