thanks ernie , great , yet I may ask you a question , under which circustances and which properties (e.g. intraday versus interday , order-book based versus non-orderbook based )of strategy that you traded 2007 that allowed the hiring manager to provide you with 100 x leverage ? that is just not possible !!! your comment is highly appreciated
It was just a buy / short at the open, liquidate at the close, stock strategies. 100x leverage is possible because the proprietary capital at the firm was over $10M, so essentially I was borrowing from the principals, not from the prime broker.
SEEKING YOUR WISDOM, SIR, I have 2 choices--1) buy one given forex pair every new day at the open at market price wth take profit(TP) 50 pips and stop loss(SL)50 pips on one ticket as one order 2) second choice is to buy same pair but order is placed as pending order at the open of every new day--buy the same forex pair 100 pips below the open price as pending order with take profit of 50 pips and stop loss of 50 pips all on the same ticket.And after one year of every day trading which strategy is more likely to make any money?And what answer SUPERCOMPUTER would give to my question?
Hello there! I appreciate your enthusiasm for exploring different trading strategies. Without backtesting, it's hard to determine the most profitable strategy. It's recommended to backtest both strategies extensively on historical data, consider various market scenarios, and potentially incorporate additional risk management techniques. If you need further guidance, feel free to write to us. We'll be happy to help. Best of luck in your trading journey 😊
I disagree right off the bat w his message. It sounds like someone who expects you to fail. That never works. You need to be the person who says, I’d rather be burnt alive toes first than quit. I will study every detail. I’ll endure any punishment. For that person: you have 100% chance of succeeding beyond your wildest dreams.
Really good confession and honest, encouraging
Now I know why his books are 99% math and 1% English.
thanks ernie , great , yet I may ask you a question , under which circustances and which properties (e.g. intraday versus interday , order-book based versus non-orderbook based )of strategy that you traded 2007 that allowed the hiring manager to provide you with 100 x leverage ? that is just not possible !!!
your comment is highly appreciated
It was just a buy / short at the open, liquidate at the close, stock strategies. 100x leverage is possible because the proprietary capital at the firm was over $10M, so essentially I was borrowing from the principals, not from the prime broker.
Bonds and currencies allow really high leverage because they barely wiggle in pips.
Great investor despite his non exceptional academic research (which says a lot about the practical utility of academic research in finance)
SEEKING YOUR WISDOM, SIR, I have 2 choices--1) buy one given forex pair every new day at the open at market price wth take profit(TP) 50 pips and stop loss(SL)50 pips on one ticket as one order 2) second choice is to buy same pair but order is placed as pending order at the open of every new day--buy the same forex pair 100 pips below the open price as pending order with take profit of 50 pips and stop loss of 50 pips all on the same ticket.And after one year of every day trading which strategy is more likely to make any money?And what answer SUPERCOMPUTER would give to my question?
Hello there! I appreciate your enthusiasm for exploring different trading strategies. Without backtesting, it's hard to determine the most profitable strategy. It's recommended to backtest both strategies extensively on historical data, consider various market scenarios, and potentially incorporate additional risk management techniques.
If you need further guidance, feel free to write to us. We'll be happy to help. Best of luck in your trading journey 😊
Inspirational.
Where are the keys to success?
Trade 1 millions trades, non HFT over 10 years data, diverse symbols, then stess with synthetic data, 2000 trades a day in backtest, 3 millions trades
So it’s like playing the lottery?!
I disagree right off the bat w his message. It sounds like someone who expects you to fail. That never works. You need to be the person who says, I’d rather be burnt alive toes first than quit. I will study every detail. I’ll endure any punishment. For that person: you have 100% chance of succeeding beyond your wildest dreams.
I agree