"THE MARKET... consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Alexander Elder


Monday, January 7, 2008

Invitation to those already trading well and living


Greetings. Well, you must be happy! You are already trading well and living. Admit it, you want to tell us how you do it. You want to have an audience.


You wake up in the middle of the night screaming, "Your moving average just crossed, pull the trigger!" Or, "You're right you bum, you do have a tough life. Here take my wallet."

Ok, so here is your chance. Just leave a comment below this post. Come on, tell us your secret. No, not that secret, YOUR secret. That stomach reflux will settle down, and you might even sleep through the night. Waiting...

14 comments:

John Palmer said...

I have no secrets. I read Google News. I think about what is said. I write and do videos. I tell everyone that I'm not a financial advisor. Simple.

Charles Longfellow said...

Hey Pupkinus,
Good to hear from you.
These comments act like a kind of forum, it we want them to. I notice you haven't been too active on the NDD site lately.
LF

pupkinus said...

Thanks for the invitation, Charles :)

I've been too busy lately in order to communicate to be able to be a prolific writer, but I did read every new post on NDD.

How is your trading doing? Still trading E-mini S&P?

Charles Longfellow said...

Pupkinus,
Yeh, E-mini S&P500 is my current poison of choice. Seems a good idea to specialize; every market has its own personality. Joe Ross is teaching Spread Trading, and it seems tempting. It embraces a variety of markets.

Check out:
http://tradingeducators.com/spreadtrading.htm

Do you have any experience with spreads? Also, I inadvertently deleted your list of do and don'ts if you would be good enough to repost.

LF

pupkinus said...

Thanks for answering, Charles!

Here's the list:
0. Learn
1. Trust no one
2. Do your own homework
3. Learn
4. Don't strive for perfection
5. Strive for robustness
6. Simpler=better

Best of luck in 2008!

I tried to trade S&P but I did not like it. I find FTSE much more interesting but I think this is a matter of taste.

I've read several books by Ross and found them quite interesting. I am not trading any of his suggested strategies but I believe my trading style has some slight influences from reading his books.

Regarding spreads:
Calendar Spreads - no
Crack spread - yes
Spark spread - yes
Vertical spread - yes
Ratio spread - no

Not my favorite instrument anyway :)

As for seasonal trading... frankly I am not a big believer in this. I have some number crunching experience and I guess that all the quants out there have already found any and all seasonal patterns and all those trades are "too crowded", imho of course.

best regards
pupkinus

Phil Davis said...

Hey Charlie,

Glad to see you've found a niche on blogger but you really need to start eating red meat. You're looking a bit pale these days.

Phil Davis

Charles Longfellow said...

Hey Pupkinus,
I checked out FTSE briefly at:
http://www.ftse.com/index.jsp
Neat stuff. I assume it doesn't trade on the Chicago Mercantile Exchange? Why do you like it better than the S&P500? Is there a FTSE mini? What exchange do you recommend?

Hey Phil,
You quite accurately detected my vegetarian tendencies. However, my cheeks flush, and I take on a more healthy appearance if I trade well.

Charles Longfellow said...

Pupkinus,
More on my FTSE inquiry, I did find a
CME product to do with FTSE and the China market.
see: http://en.news2u.net/release.php?id=00002725

Do you know how this is doing? Is it tradeable?

pupkinus said...

Charles,

I meant the FTSE 100 index.
It is the index of the top stocks on LSE, smth like English version of SP500.

It is traded on LIFFE, more details here:
http://www.liffe.com/liffeinvestor/introduction/how/products/ftse100futs/what.htm

I just like the way it moves better than S&P. AFAIK it doesn't have a mini version.

Btw, if you really like volatility and are ready for a rough ride - check out the DAX.

more info here:
http://www.interactivebrokers.com/en/general/education/commodityProductsReview.php?ib_entity=llc#daxfut
and here:
http://www.eurexchange.com/trading/products/IDX/DAX/FDAX.html#table

FTSE/Xinhua as far as I remember tracks the performance of Chinese stocks. I guess it is readily tradable, although I know nothing about liquidity/costs/spreads but you may look into it deeper if you want to ride the short side when the Chinese market bubble bursts :)

Btw, what is your trading horizon - daytrader/swingtrader/longterm ?

best regards,
pupkinus

pupkinus said...
This comment has been removed by a blog administrator.
pupkinus said...
This comment has been removed by a blog administrator.
Charles Longfellow said...

Pupkinus,
Ok. I can't properly post links within this message area either, but if you email them to me, I will post them on the main site.
ps as I prefer to have zero exposure overnight, I guess I am called a daytrader.
pps your info looks interesting, so do send those links.
Thanks.
LF

pupkinus said...
This comment has been removed by a blog administrator.
DFBear said...

Hi Chuck!
I think you look a lot better than the pic. The red wine helps flush the cheeks. For myself, I'd say the secret is to Live Well. Trading, I have no clue.

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What is a Bucket Shop?

"Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market."
see: Wikipedia

The SEC believes that "internalization" is somehow different, and this affects ALL of your online trading, no matter what you are trading. Trades that are executed outside of the exchange, never reaching the main market, effectively hide data from technical analysis, and skew pricing.
see: Not a bucket?


"... internalization hurts retail customers and market quality"

see: EconPapers

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