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brownsfan019

Trader P/L 2009

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Got back into trading today after being consumed with poker the last few weeks.

 

Looked for a short today. Found an opportunity about 1 hr into the market (DAX) and took it.

 

Really happy with how I traded today, because I shorted near the top and exited near the bottom, before it bounced back.

 

Ignore the FESX trade, that was due to me pressing the wrong buttons!

 

4cudall5.jpg

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Hello everyone,

 

I just wanted to inform everyone who posts and in this thread and those who do not but pm me, I will continue to post reasons behind certain trades, but I cannot give out my thought process behind my other setups and subsequent trades.

 

My reasoning is that I have simply put far too much blood, sweat and tears to give it away.

 

 

Hi Chris,

 

I don't want you to think I'm trying to change our mind at all, I just wanted to post a thought of my own. I'm sure you've read the Richard Dennis interview where he stated he thought he could probably publish his trading system in the Wall Street Journal, and it would have no adverse effect on the system. I agree with him. I think you could outline your best trade right here with all rules, guidelines, parameters, etc., and not one of us (and I include myself in that) would be able to trade your method as well as you yourself do. at least not initially. Most would likely find they'd trade it to an overall net loss. Why? Because the method is really a small part of trading success. The largest part is, as we all know, is the emotional control necessary to succeed at this. You have it. No matter what you post, you can't give it away, and you cannot lose it.

 

Thank you for sharing all that you do, I continue to enjoy your posts.

 

Best Wishes,

 

Thales

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Hi Chris,

 

I don't want you to think I'm trying to change our mind at all, I just wanted to post a thought of my own. I'm sure you've read the Richard Dennis interview where he stated he thought he could probably publish his trading system in the Wall Street Journal, and it would have no adverse effect on the system. I agree with him. I think you could outline your best trade right here with all rules, guidelines, parameters, etc., and not one of us (and I include myself in that) would be able to trade your method as well as you yourself do. at least not initially. Most would likely find they'd trade it to an overall net loss. Why? Because the method is really a small part of trading success. The largest part is, as we all know, is the emotional control necessary to succeed at this. You have it. No matter what you post, you can't give it away, and you cannot lose it.

 

Thank you for sharing all that you do, I continue to enjoy your posts.

 

Best Wishes,

 

Thales

 

I have read the interview and that is a good point.

 

Chris

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Hi Chris,

 

I don't want you to think I'm trying to change our mind at all, I just wanted to post a thought of my own. I'm sure you've read the Richard Dennis interview where he stated he thought he could probably publish his trading system in the Wall Street Journal, and it would have no adverse effect on the system. I agree with him. I think you could outline your best trade right here with all rules, guidelines, parameters, etc., and not one of us (and I include myself in that) would be able to trade your method as well as you yourself do. at least not initially. Most would likely find they'd trade it to an overall net loss. Why? Because the method is really a small part of trading success. The largest part is, as we all know, is the emotional control necessary to succeed at this. You have it. No matter what you post, you can't give it away, and you cannot lose it.

 

Thank you for sharing all that you do, I continue to enjoy your posts.

 

Best Wishes,

 

Thales

 

But he never actually did publish it, did he?

 

;)

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Well, I think this is probably going to round up my 2009 trading. Traded lightly and didn't trust this market on lower volumes.

12-28-09: +$245.00

 

12-29-09: +$200.00

 

In hindsight, I should have just traded w/o regard to the holidays (like I've said before) but I was biased in my decision making. It's profits, so we'll take it and call it a year.

12-28-2009.png.5ad6c094dc9fa1716d67fe450b2b74a6.png

12-29-2009.png.40cdbd95db7a15d6f81a8100096c38c9.png

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Tried to take fewer trades but got sucked in by some choppy breakout movement. I though we were going to see some real breakdowns in price but the buyers just keep jumping in. Reasonable results. Only traded 1 contract.

 

SIM

attachment.php?attachmentid=16945&stc=1&d=1262116170

5aa70f8c8b6b8_12-29-20092.png.110451a287561d173b74f754d62192fa.png

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He didn't, but one of his traders did.

 

Here you go.

 

Best Wishes,

 

Thales

 

I am not 100% sure, and i don't feel like verifying it, but I think R. Dennis also lost a lot of money trading the same system when he decided to come out of retirement. Something to the tune of 8 figures. But, I could be totally wrong.

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I am not 100% sure, and i don't feel like verifying it, but I think R. Dennis also lost a lot of money trading the same system when he decided to come out of retirement. Something to the tune of 8 figures. But, I could be totally wrong.

 

As I understand it, his losses resulted from his straying from his usual system and entered discretionary trades based more on guesswork than technical criteria:

 

"By the time he retired in 1988, he had shot himself in the foot by making unusually risky trades--purchasing huge quantities of options just before they expired and became worthless, for example. In one day, he lost $8 million in a soybean trade gone bad. Losses in his personal accounts paralleled those of his funds. Adding insult to injury, an early 1990s comeback attempt flamed out in months."

 

04/07/97 RICH DENNIS: A GUNSLINGER NO MORE

 

Best Wishes,

 

Thales

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I think you could outline your best trade right here with all rules, guidelines, parameters, etc., and not one of us (and I include myself in that) would be able to trade your method as well as you yourself do. at least not initially. Most would likely find they'd trade it to an overall net loss. Why? Because the method is really a small part of trading success. The largest part is, as we all know, is the emotional control necessary to succeed at this. You have it. No matter what you post, you can't give it away, and you cannot lose it.

 

Thales

 

This statement might be a catch 22 ..... if you do all this, there's not so much of an emotion to speak of.

You clearly define your setup, setup that you empirically know is profitable over time and you know your rules, guidelines, params etc., the emotions take a back seat.

You know precisely what to look for and what to do. It either occurs in the market or does not.

What Dennis might be referring to is some sort of disconnect between explicitly and implicitly understanding of his trading system. It's this implicit (enough screen time with the system) lack of understanding that might promote emotions.

 

Anyway, I am not refuting the claim. It is very common but you do have to wonder about the source of the emotion.

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My total return for 2009 was 24%, this included many days trading a small account when I had to make a personal bridge loan earlier in the year to family and after repayment somewhat infrequent trading. My only trades other than what I posted were writing some options earlier in the year.

 

Have a Happy New Year everyone :)

Edited by bathrobe

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Last trade of the year for me was an overnight short in the DAX.

 

Market was heading higher but encountered resistance so I thought it would retrace to about 5990 and it turned out it went further than that, to around 5950.

 

Just need to work on my exits.

 

ooxvxdac.jpg

 

 

Happy and prosperous new year to all :beer:

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2009 is in the books. I'll leave this thread open for a bit, but move all 2010 discussions HERE.

 

Thanks for making our first run of a p/l thread one of the most popular threads on TL. I hope it was as useful for many here as it was for me.

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As I understand it, his losses resulted from his straying from his usual system and entered discretionary trades based more on guesswork than technical criteria:

 

"By the time he retired in 1988, he had shot himself in the foot by making unusually risky trades--purchasing huge quantities of options just before they expired and became worthless, for example. In one day, he lost $8 million in a soybean trade gone bad. Losses in his personal accounts paralleled those of his funds. Adding insult to injury, an early 1990s comeback attempt flamed out in months."

 

04/07/97 RICH DENNIS: A GUNSLINGER NO MORE

 

Best Wishes,

 

Thales

 

That's probably as close to the real story as we'll ever get.

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