This is actually a distortion that the detractors hang on to quite strongly. I believe thay want to make a point and that is cool with me. What they say (and you have adopted) is something they may believe. It isn't something for me to argue about with them. Recently at the MERC we demo'ed with money on a laptop that had an abstracted version of what we monitor. they could not get a four panel display to put up what we look at. It was a technical shortcoming and a feed short coming. There was in ten trades a 1 tick loss on one trade. The first five made 6.75 points per contract in less than an hour. the next thre trades took the total up to 10.5 popint per contract. so five consecutive live trades were done with money and three more were simply called. the people we were demoing for and to who we gave the calls as well, took on an orientation where they did not follow our lead after the calls we made. They were reversals on out part and they chose to do entries and then exit in a manner where they took losses. They said, the followiing day that the 1 tick loss we took on one trade was smart and necessary since at that time the market did reverse and it was wiser to stay on the right side of the market than to be "right" on the trade and lose money on the trade. The people we were with were very intelligent and were clearing for a lot of money on the two floors they occupy at the MERC. they can pay the rent so to speak. You may be like them. They never saw trading done the way we do. They did not believe that we could do what we did. They did see it done however and they did see us take a 1 tick loss on one trade to be able to continue on the right side of the market at the point of the one tick loss. They believe we take losses. They know why we took the one tick loss. 10.50 points an hour net with a gross of 10.75 per contract is regarded at the MERC as an accomplishment, especially on a one screen laptop temporarily wired into the data feed available. If they had a comprehensive feed it would have been different. What I really believe ALL of the time is that some people are able or not able to understand what I am saying. They fall into three groups: closed minded; open minded people who want to learn what they personally may be able to achieve by learning and open minded people who cannot understand what is being said. I do not care which group any person falls into. How could I care? I made a choice to be helpful. Others chose to be helped. It is a fun place. A lot of people in ET provide a lot of humor for me. It is deeply funny and very strange to see people who may be smart or even those who just think they are smart, fart away month after month after month avoiding taking their potential and not using it purposefully and continually. I met a guy from Conn at the Expo in NYC in February.. He recognized me (I can't waer an ID badge or I get mobbed.) and said HI. I was with MAK and we came to listen to Kahn who runs Barron's web site. He was doing a presentation on the size of things. It was a fun and well prepared presentation. At the end Mak and I assured this guy that we would help him out. He was a college grad and had two degrees that were finance oriented. He got our cards. And we told him he would be able to visit with two guys who trade PVT and SCT (and are programmers too) where they live in white Plains just a hop skip and jump from CONN. I am meeting with these people in Cleveland for a week next week to deal with an automated display they created and with 7 others who did our automation. I finsihed the book on it last wednesday and it is being printed after edit in Tucson, in NYC on this next Wednesday to be hauled to cleveland. This person who asked for help, was offered help, has continually chewed me out and Spyder out as a jerks because we are doing snake oil etc. In fact there is no newbie in the US or anywhere who has had such an opportunity, EVER. This person made a choice, simply because he did what he wanted. He had EVERYTHING available to him from the moment we met in February. At the Expo last week, Tim Borquin asked Tim Morge if he would let a person sit in for one day for 5,000 bucks. It was courteous and humorous for a moment. While Tim runs the Expo he doesn't understand what people who make money do during the day. tim did not ask the Q to anyone else sitting there. In fact there were no Q's offered that made it around the four participants. Making money and knowing how to trade in any of the many ways it is done, is something a learner needs to get oriented to. Purposeful learning is the name of the game. It can be learned at an Expo by the guy running the Expo maybe. It can be learned at the MERC by the people on those two floors. It is best learned by work in a process. You are making a choice as you post your Q's. Someday make a choice to get on with purposeful learning. This guy we met in February spent from then to now to wipe himself out psychologically for the rest of his life by the choices he made to not get his ass in gear. A friend of mine, John Letto, is one of the best helper outer in this world. He started out in 7th grade doing local dealing and got out of HS with a 1.7 average and got into the Marine Corps. he is about 26 now and a multi millionaire running 8 and 9 digit OPM. Too back this guy we met in NYC didn't go in the Marines. At the end of John's tour he was at the US Embasy in Tokyo because he spoke fluent Japanese and Chinese. Why? He just did it when any opportunity came along. I dumped off five parts of the book to be used in Cleveland starting 08JUN07. I will review the edit at 9:30 tomorrow and it will be printed by Thursday next. People made chioces to get the job done. The first Thursday of July we will break up after a week together. For me it is a dream of a lifetime to have a beginning that is underway with an exceptional team of guys. The journals will be done by December. 2007 is a most terrific year for those who are doing the work. The people who distort things to get where you got with your question are just making the usual choices that have no results. Have fun with what you do.
It is just quick and dirty book. Think of it as a resourese for a team of people who have been working to get a job done and operational. I'm sure you have run into the same problems with conference attendees. I like to pee between sessions occasionally and I also am really taking a lot of notes and like to jot down stuff between sessions to complete what I just learned. I also connect with some guys that I only see four times a year. We schedule times and places. Missing a launch in SD is a pain since they only depart every so often. LOL.... And yes there are some people who are not very nice at expos. I'm a geezer and not very capable of defending myself from kooks who want to know everything right now!!!!
Jack, i have heard you say several times you always win, unless i am mistaken. If I am, if your win % is not 100%, what is it then?
You may be mistaken. It is hard for me to tell what you have heard. Often I do (and recommend) that people do "wash" trades during midday when things are slow. A wash trade is two actions: a market entry and a market exit. Both are at the same price or at a small profit. A person who blew out at the end of 2006, looked at one of my posts and determined that I had faked it. On that post, I showed several of these wash trades as well as the profitable trades. My win percent is not 100%. My wash percent can be as high as 4 or 5 % If someone is watching me trade since I do it as an example. I believe I gave and example in this thread that you missed. There were 10 trades and 10.50 points in those trades. there were no washes since it was only an hour of trading at open. Choose a base. Here you have two choices. the corresponding numerator for one is 1 and for the other it is 0.25. You can mistakenly mix them up anyway you want. from what you say about your win ratio, mine is much less than yours. Congrats. Have a good one. You have destroyed the talking points of at least 30 people and, also, their untold number of aliases. Thank you so much. Lets hope you keep chipping away at their sort of commentary so we can set the record staight through your thoughtful and important points about trading. It is very important to do drills on wash trades. More important is to recognize how many opportunities there are during any wash trade hold period. sometimes (especially on a seasonal basis) it is possible to have at least seven opportunities on average. Please don't tell me your win ratio.