[bathrobe]

Originally Posted by brownsfan019 »

Looks good bath! What changed - just increased size? Not a bad morning!

Thanks Brownsfan, Thales

The only difference is my capital, which makes all the difference for me because in this market I have become a scalper.

When I started posting in this thread I just started scalping with a very small account, which left me trading scared money feeling I had to take tiny profits.

[Mr_black]

today's trades................... ........

[Mr_black]

Originally Posted by Marsupilami »

Nice results, Mr. Black. You seem to be one of the lucky ones who could make Jack Hershey's method work for them !

May be I made Mr_Black's method work for me.....

[diablo272]

I have a question for you BF: Do you ever take two trades on different markets at the same time? That is, if you get a setup on two different markets at the same time, do you take both trades, or only one? I'm guessing the answer to this question might depend on how correlated the markets are, but I'm just curious.

[Marsupilami]

Originally Posted by brownsfan019 »

6-2-09




Pretty good day here all around. Missed a few trades again, but better.

I would say, you really cleaned up today, chapeau ! But much more impressive than one day's results is your consistency.

[Marsupilami]

Originally Posted by Mr_black »

May be I made Mr_Black's method work for me.....

Yeah, that could be the reason .

[thalestrader]

Hi Folks,

Here are today's trades.

Total Profit $2.85/share traded.

Best Wishes,

Thales

[brownsfan019]

Originally Posted by diablo272 »

I have a question for you BF: Do you ever take two trades on different markets at the same time? That is, if you get a setup on two different markets at the same time, do you take both trades, or only one? I'm guessing the answer to this question might depend on how correlated the markets are, but I'm just curious.

diablo - great question - I take 'em where I see 'em. Regardless of the implied correlation. Few reasons why...

My main markets being traded are Bonds (ZB), Indexes (ES/NQ), Gold (GG), Oil (QM) and Currencies (6E). Of that list you can argue that there is some correlation in some shape or form, but that does not stop me from taking simultaneous trades.

And even if you assume there is correlation (inverse or direct), that doesn't always hold true. I read somewhere that bonds and indexes have a 60%-70% inverse correlation - meaning 30%-40% of the time, they don't always move hand-in-hand. And I can attest to that. While I prefer to be long bonds, short indexes (or vice versa), it's not necessary.

As for gold, oil and currencies, some days those are correlated together, other days not; some days correlated to bond movements, other days not...

You get what I am saying.

This is also a reason why most trades are 1 contract - b/c I need to leave margin available should another trade appear. If I load up on the first trade I see, I have to pass on others and I cannot do that. Going in to each day, I know my edge lies in taking all the trades I see, on all the markets b/c I have no idea which market(s) will be moving that day. If I interfere and pick and choose what market(s) to trade, I'm just asking for trouble. My luck, I will load up on the losers and pass on the winners. To avoid that mental knightmare, I take all trades that I see on all markets being monitored.

If I could filter the winning markets from the losing markets each day, then I'd be bringing in considerable more gains. I have not found a way to do this (yet).

Also - I take every trade I see b/c many of these trades occur during the 8am-11am EST timeframe. While it's nice when I can enter trade #1, exit trade #1 and immediately enter trade #2, etc. the market doesn't always work out that nicely. What's more common is overlap and you just have to manage it. B/c I have a relatively small window to work my trades, I have to be ready to pounce when the trades appear.