Maitrade Hedge Foundation
Maitrade Hedge Fund In Fullers Pub'e clearly something is added to the beer, because I came up with a brilliant idea)) Thanks, come conforgery))I am hot
report
Валентин Гроголь: «Профессионал зарабатывает, а любитель – играет»
– Who is a trader?
– Traders – it is a separate elite cohort in any bank or financial company. It happens, that professionals make millions for their organization, а иногда – bankrupt her completely. A striking example – infamous Nick Lisson, the loser of over a billion dollars of the largest English bank, whom the queen herself trusted with her savings. Hedge Fund Manager John Paulson, vice versa, earned billions of dollars during the last crisis, playing down. Том Болдуин, which scalps the market with huge positions, earns hundreds of millions of dollars, and he started with his own money, trading with just one lot.
In general, the times of crushing losses and millions “jackpots” for corporate traders have long passed. To date “nuts” control over traders tightened to the limit. The risk management system is now built as follows, what if someone even really wanted to repeat “feats” Nika Lisson, then it would be impossible. The system automatically blocks the trader, if the level of his losses has exceeded the previously agreed rates. If a trader works with his own money, then that's another story: he is his own boss and there are examples of amazing ups and downs. What is Jess Livermore worth, who made millions from practically nothing during the year, and then in a few weeks lost everything. After that Livermore sold his wife's jewelry, At home, borrowed and again a year later became a dollar millionaire.
80% successful traders do not manage their money, and by means of large trading companies and work under the supervision of professionals. Statistics show that, what in 70% cases, when the trader is on his own, he takes unnecessary risks, which is fraught with big losses.
– What do you control now??
– Now I manage the money of the Omikron corporation, operating in hundreds of thousands of dollars. List of shares, с которыми я работаю, not static. With the help of special screening programs, among thousands of shares, you can find exactly those, that match your trading style. If earlier it was possible to select a portfolio from 10-20 shares and trade it for 2-3 Months, then today in conditions of increased volatility, once a 2-3 day the portfolio has to be revised and adjusted. For me, the most important thing is not the industry, and liquidity, the presence of noise on the action, number of events, risk-reward ratio.
Average trader's turnover, under whose control is $150-200 thousand, is $10 million. a day is about $200 million. per month. And there are tens of thousands of us. Вот и представьте, what money is spinning in the industry. It is we who enable the "big fish" to buy and sell large blocks of shares in a short time, receiving a small reward for it.
-What instruments do you speculate with, and what place among them are the securities of the banking sector?
– There are so many instruments in the American markets, что бывает такое, that you catch yourself thinking, what do you trade with a tool, который тебе подходит, but you understand very distantly, чем вообще занимается эта компания.
The most important thing is not the industry, and liquidity, the presence of noise on the action, number of events, risk-reward ratio. По моему субъективному мнению, the banking sector is the most dangerous, as it is poorly subject to technical analysis and extremely emotional. However, among the shares of companies, which I trade, still there are people like, for example, Morgan Stanley (ticker MS), which is listed on the New York Stock Exchange. This instrument has frequent entry signals., a little noise, but the risk at the breaking point is higher, than Wells Fargo, which does not have these terrible candlestick tails and emissions on breakouts of significant levels.
Another famous Credit Suisse sometimes behaves very well.. And there are days, when the securities of this company are dead and give absolutely no signals to enter or exit. We select stocks based on historical data, but we understand whether it is possible to work with them only during the session. Может быть такое, that yesterday the paper gave a lot of opportunities to earn, and today we need it “take a vacation”.
Deutsche Bank is usually in a good trading range, but I find it difficult to analyze supply and demand in Level2. Can, certainly, and without it, but without this tool the chances of success are reduced.
HSBS (ticker HBC) - good volumes, but the entry signal is usually never confirmed, that is, you need to immediately make a decision. It has no transient state, растет вверх, and then "bangs" down. But there is little noise and a fairly accurate tilt angle, if more 45% up, then in no case should you think about opening short positions.
Citi Bank is not good for intraday speculation, as it has a too low denomination and the trader will go broke on commissions. Potential movements that are too small are associated with this., I naturally mean in cent, not in percentage terms
– Everyone is interested, how much can a trader earn in “prime of life”. How much do you get?
– Let's start with this, what am I, as a specialist, I am very expensive. For example, already in 25 years I became the winner of international trading competitions. Add to this an impeccable reputation, which I support for a long time, which in itself is also very difficult. Knowledge helps me in my work, received in universities. I graduated from the Faculty of Economics, Moscow State University, and then – MBA in Investment Management at the Higher School of Economics. Education and experience – this is the basis of work in the field of trust management.
Like any professional, I went to success in stages. In the beginning, I received 50% income from the amount given to me in management, but for today i take 98%. The company is enough 2%. After all, for the organization – this is secondary income. Her main profit is part of the commission, which the broker returns. The company will never go to waste. The organization, which work according to this scheme, are considered very reliable, as for them the risks of bankruptcy are extremely small.
Trading – this is a highly profitable profession. Logically, what's on the exchange, if one wins, means, someone else – loses. But I don't see anything wrong with that: eventually – it's just business. Standard competition laws apply here – the best profit. Nobody bothers outsiders to improve their professionalism, for example, in trading schools, and stand out in the ranks of the winners.
– Is it difficult to become a professional trader?
– The hardest part – it is to learn to apply knowledge in time, while controlling your emotions. The big problem is, that you can't take someone else's experience and use it. For different people, the same stock can be overly fast., it will be difficult to make a decision on it, so too slow. Than short-term speculation, the more important is the experience and skills gained. To an extent – it's a trial and error. But the road to success will be shorter, if there is an experienced comrade nearby.
The beauty and horror of day trading at the same time is, that in order to master this profession you do not need to graduate from specialized institutes. To understand whether you can master this profession or not, just get the necessary knowledge, practice mnemonic skills and trade.
A foundation of theoretical knowledge for mastering the profession of an intraday trader, fits into two workshops on 5 hours. The rest of the time is practice on virtual accounts and hone your skills.. It can take from a week to months or even – years in difficult cases. Now Stock Trading School is negotiating with the Omikron trading corporation, so that she gives the best graduates of Stock Trading School money for management without making a risk deposit or minimizing it. Naturally, to get a recommendation from us, taking a forty-five hour course "Professional Day Trader" will not be enough. You still need to trade from our dealing rooms on virtual accounts under our guidance. The trader must gain experience, and we – statistics of his operations. With its help, we will be able to find the weak and strong points of the trader and together choose the exact style of trading., which suits and will bring money to this particular specialist. In trading, there are no universal solutions for everyone and everything is highly personalized.. So the only approach is, fruitful, – this is an individual training, основанный на том, how the trader perceived and reproduces that information, which he received in the first ten hours of theoretical studies.
– Little of, that you work simultaneously in several organizations at once, but you are also heading . Is it difficult for you to combine work with teaching?
– I only teach in my free time from trading. During my work, I show by personal example the algorithm of actions of a professional trader.. In addition to me, the school also has successful and experienced traders and teachers., who constantly monitor and help beginners. More and more of us, as successful traders switch from Russian exchanges to American ones. I have never seen the reverse process..
Besides, we have released two video courses on active professional trading. We did this to facilitate the learning process.. Many additionally require an alternative to live seminars form of information submission. In a live lesson, you can accidentally miss something, do not have time to write down or just forget. Eventually you can be late for the seminar. And an additional video course will refresh your knowledge and fill in the gaps. The only thing, what you need after studying our video courses, – it is to gain experience, first on a virtual account, and then – на денежном. This is also best done under the supervision of professionals..
Our video courses – it is the foundation for successful trading. Having studied them, all that remains is to gain experience. It can be free, if you stick with that, what did you learn in the video course, or can cost a pretty penny. The market is a great teacher, who does not forgive negligence and punishes those, who doesn't work, but just playing. This is the main difference between a professional trader and an amateur.. Professional earns, and an amateur – plays, like in a casino.
– Crisis triggered a wave of allegations of fraud in securities trading and fund management in the West. Is it true?, that professional traders are often tempted to engage in scams?
The reason is rather not some malicious intent on the part of traders., rather, in the unjustified excitement of some hedge funds, which allow traders to take on increased risks. As for the acclaimed Goldman Sachs scandal (paper, prohibited for trading in most dealing rooms), then this is due to the wrong, that they were accused or suspected of something, а с тем, that the average risk / reward ratio is unacceptable for the intraday trader. The beginning of the session there is generally a disaster and is more like gambling in a casino., than to work. Whatever the scandals in the American stock markets, they remain the most transparent and honest. This is one of the main reasons, why 99,9% professional traders choose NYSE , AMEX, NASDAQ. At these sites, everyone has equal opportunities to work and earn money.. There is no insider factor here, does not allow to work normally on Russian and other developing exchanges and even some platforms of developed countries.
– Agree with the opinion of the information portal “My finances”, that you are ripping the stock market bread out of grasping American teeth?
– I need to make money and I do it. Then you might as well say, that a more experienced surgeon will take money away from a less experienced one. So you can get to the point of absurdity. Trading – it is one of the few industries, where you can get decent rewards at an early age. Overall, it's like a sport, that is, a profession for young. Although, there are exceptions. Nevertheless, if you have a good high-paying job, do not leave her immediately after, how did you make your first thousand dollars. Different time zones between Russia and the USA allow you to try yourself as a trader in the evening, because American markets open in 17.30 and close at midnight Moscow time. Nevertheless, I can not but rejoice that, that among my students there have already appeared those, for whom trading is the main income. We are now deciding, where will we trade in summer: in Bali or on the Cote d'Azur. Our work is not tied to a specific place. The only thing, what we need – these are computers, stable working internet and close people around.
“My favorite stocks”
NYSE
XOM Exxon Mobil Corp
V Visa Inc
WMT Wal-Mart Stores Inc
TOT Total SA
TM Toyota Motor Corp
TIF Tiffany&Co
SLB Shlumberger Limited
SNE Sony Corp
SI Siemens AG
SAP SAP AG
RY Royal Bank of Canada
RNR Renaissancere Holding
REP Repsol YPF SA
PM Philip Morris
PG The Procter & Gamble
PEP PepsiCo Inc
NKE NIKE Inc
MCD McDonald
MAR Marriott
KO Coca-Cola
JNJ Johnson&Johnson
HSY Hershey
HPQ Hewlett-Packard
HOG Harley-Davison
HMC Honda
HLF Herbalife
FDX FedEx
DB Deutsche Bank
COP ConocoPhilips
CAT Caterpillar
BHP BHP Billiton
BA Boeing
NASDAQ
SBUX Starbucks
ORCL Oracle
MSFT Microsoft
AMZN Amazon.com
AAPL Apple
AMEX
SPY
GLD
BTI British American Tobacco
DIG Ultra Oil & Gas ProShares
AMEX
BTI (British American Tobacco), SPY, SSO, SDS, FAS, DOES
and many others.
A source:
presents
it was worth being away for only three days and here you are:
*WHEAT FUTURES FALL 60-CENT LIMIT ON CHICAGO BOARD OF TRADE
(..Gagarin, i loved you, uuuu, on-on-on-on…)
markets survived Friday's report well. but there is a nuance.
too much talk about QE2, no matter how it works again:
thought of future reasons for panic. (although for the second time, it's not without reason)
in the friendliness, as always, a lot of interesting things.
hours through 12 I will leave to actively read.
Business secrets
When a novice trader enters a highly competitive market environment, he should know, what will withstand the brightest and most polished minds of this business. The economic survival of these people depends on their best decisions. Considering this, the question arises: is there anything, what a beginner trader can do, to take "your place in the sun"? The answer is obvious: perceive trade, as a daily business process: […]
Technical analysis
Technical analysis again " didn't work" And ,certainly, breaking zone 2-5 July, which I spoke about long ago, too " didn't work ''.
AND , certainly, there are those, who's to say " well, you yourself made money on this?".
Firstly, in terms of technical analytics ,this is one aspect.
As for trading, this is another aspect.
Yes, I bought in the zone 2-5 July, did much- No, but did enough. Underestimated the power of the rebound -YES.
No one to read, where are the sensible diaries of traders
For more than a year now I have been trying to find blogs of really smart professional traders, but apparently they don't write. Most of them are beginners., analysts and “Guru” Beginners have main posts about a prosperous future and first steps, they are much more interesting to read than Analysts and “Guru” . They are constantly trying to find their mistakes and they are pleased to help them develop.. Analysts read the majority, most useless reading. Why read about what happened yesterday on the market and analyze it and where it might go , if you don't want to think yourself, you have nothing to do in this business. Gurus sometimes write interesting posts, with good thoughts, but it's dangerous for beginners to read them. Any of their ideas is perceived as an axiom and due to lack of experience it is difficult to understand what works, and what not. Most ideas don't work, but newbie doesn't understand this and praises any post. For 5 years spent in this business from all those whom I read, NO ONE left !!! There are, of course, old bloggers who have been writing for a long time, but they stayed in the same place with their super strategies. P.S. Too bad I'm not a writer, I could nicely put my thoughts on this topic on a couple of sheets.
Grinding it out, day after day
Partial translation of the topic , led by an experienced trader lescor (Canada)
lescor 01-10-10 03:57 AM
I decided to keep a public trade journal on 2010 year. I actually considered if this is a good idea, but that's why i decided to do this.
For the last couple of years of my trading, I gradually became more complacent and more lazy. I was lucky to have a couple of really good years and I didn't have a strong incentive to give my best in the long hours., to work on new ideas and to improve current. I am somewhat concerned about, what 2010 the year and beyond can be tough, as the government interferes more and more in our business and because of computers, with which we compete, it becomes harder to win and play by different rules. May be, it will help motivate me, to get down to business and stay ahead of the game. It will also keep me on top of keeping my records, which I really missed over the last year.
There is a lot of negativity expressed on this site, disbelief and cynicism about trade. I think, Most people, who are well prepared and ready to work, can become traders. I hope this year is not bad and I can provide some optimism to those, Who works, and prove the haters wrong.
In my diary there will be superficial features of that, how and what do I trade. Most of that, that I trade liquidity sensitive, and I don't want to invite people, to try and reverse engineer my system and then, compete with them for order execution. I am happy to take part in discussions on issues such as, for example, size positions, risk management, emotion management, etc., but don't be offended, if I do not answer your question like “what time and price, by which you entered this promotion and why did you exit?»
I'm just going to report weekly results. I have always treated daytime P / L like noise and do not pay attention to any time slots shorter, than a week, when it comes to tracking profits.
Difficulty setting goals for the year, as it is highly dependent on volatility. In my opinion, i will worry, if I am not able to make an average of at least $ 20k / month. $40k / month is one, what i consider on average, apart from the crazy end period 2008 of the year. As I already said, I'm ready, that this year will be difficult, so I'll be happy to scrape 250-300k. I will call it my goal for this year and I hope, that I will reach her.
Most of my trading is done on a prop account, which starts the year with $110,000. I also have a retail account, more than that, but most of the money is reserved for taxes, living expenses, etc., as well as to pay for a new house, which I am building. I trade on a retail account every day, but usually in a small volume and doing superficially different things. I do not trade on it, when volatility jumps. I do not expect this my retail account to return more than 30% from my total P / L.
lescor 01-10-10 04:08 AM
Surprisingly good first week. Net $23k на, about, 700,000 shares проторгованных.
I do not know if I will publish account statements every week, but I will publish the first week, to make things set.
lurefo 01-10-10 04:46 AM
Lescor, without going into details, can you tell us a little about your trading strategy? Trend Trading, U-turns, discoveries, RTM, etc.?
On the other hand, what are you going to change in your trading this year to solve problems, which you mentioned in the first post i.e.. with increasing competition from computers and decreasing volatility?
Pension_Admin 01-10-10 04:52 AM
Hello, Lescor.
You can tell about yourself and about, how did you become successful?
Also, without going into unnecessary details, could you please tell us about your money management strategy?
BPtrader 01-10-10 08:30 AM
Pension_Admin прав. We are not interested in trading details. We don't want to know about charts, charts, open or closed account balance, etc..
We are interested in your personal stories, how and when did you start trading, how long did it take, until you become profitable, how much did you do initially, significant events in your trading career, etc..
lescor 01-10-10 04:20 PM
Something about myself: I trade full time already 8 years. Before that I was a firefighter and had a great interest in the markets for several years.. I didn't know, what would i do, but the market siren song brought me back. I, mostly, lost all of my disposable income over a period of approximately 7 years, I have replenished accounts, who ended up at zero. Finally, i was just pissed, I decided, what gotta take and count this game, get out of it or pass 12 steps of the rehabilitation program.
I started reading Gary B. Smith, when he wrote for thestreet.com and only his approach, Seemed, worked with me. He used very very basic technical analysis for swing trading stocks and emphasized things like position sizing., money management, expected duration, etc.. It looked like a glowing light bulb, because now I could see how trade could be reduced to sheer numbers, and I really liked numbers and math. Before that, I only followed hot advice., newsletter rumors and recommendations. But this new approach suddenly made sense of it all. I read every article, what he wrote and every book, which he recommended and took notes, to consolidate it all. I have fixed the current trading plan, I learned MS Excel to track it and for a whole year of trading I did not lose money! I didn’t do anything, but I had all the statistics for review and new understanding of this game.
It was deep enough in my blood then and I knew, what a full-time transition should do. So I started my work with $40,000 for trade and putting aside a year of living expenses. I left my wife and children behind and drove across the country to trade in 3 months in the prop office, to try and speed up the learning process. It took about 4 Months, so that I stop losing money, until then i found that, what clicked and it worked pretty well since then.
As for how I traded, first of all, I only traded stocks. I will dabble in futures and options, but they are just trading at random. Most of what I do is reversal based.. I have about six different strategies, but two of them bring most of the profit. Some of them have some level of automation.
My trading is still based on principles, which I have studied more 10 years ago. Primarily – capital preservation. It took a long time, but the constant focus on this approach made the trade impartial.
lescor 01-10-10 07:44 PM
I answer some questions…
I didn't really run automated systems and “black” boxes. I have one system, which is automated on 100%, but she only trades the first 15 minutes at the beginning of the day. Most of my things – this is bigger “gray” boxes, where the system signals the setup and I decide to enter or not. I also use automation to manage trades and exits and to quickly send a large number of orders.. I would like to know how to program, but the learning process seems to me too long. I was very lucky, that I have friends, who know how to program and we worked together to develop the system. If i knew, how to program, maybe i could run more systems.
I am not doing anything special to deal with more computerized competition. My time frame is long enough and “black” boxes haven't come to this yet.
I can increase volume in some of my strategies, but this is largely due to the physical ability to enter and exit without killing stocks, especially if you need to enter / exit quickly. The size in positions is based on, mainly on that, how much pain i am willing to take, if the situation goes according to the worst-case scenario. Most, my trading includes staying in many promotions at the same time, like a basket (basketball) or portfolio. My main strategy – i get -10k several times a month, and i am ok with it. I start swearing around -20k and when it's very rare -30 -40, I start to fidget in my chair. So I have to look at my stats, volatility, news of the day and determine how bad things can be, and accordingly determine the base volume of the position. I don't think about, how much can I do, I always think about, how much can I lose.
Leave my family, when I started, it was really hard. Our children were 2 And 4 years and I have not seen my wife for almost 3 Months, living in a dark hole and being 12 hours in the office. But she's a wonderful woman and she believed in me and knew, what is that, what I should do.
Futures vs. stock – I have never made enough effort to trade futures. It seems to me, there are more 10.000 various stocks and only a few dozen futures. There are many more advantages and disadvantages to promotions., so I'd rather spend more time looking for them, than futures in a competitive futures market.
How many different stocks did I trade last week?? Not sure exactly, but probably about 50-60.
NoDoji 01-10-10 07:44 PM
_________________________________________________________________________
Quote from lescor:
Most of what I do is reversal based..
_________________________________________________________________________
- You mainly trade this strategy with or against the trend?
- Or do you look at situations, when prices constantly jump in the range and trade from the boundaries of the range?
- What is the average time spent in a position?
lescor 01-10-10 07:49 PM
- Counter-trend or gap filling.
- I will do this as well (another strategy)
- Depends on strategy, from 10 seconds to 6,5 hours. I also have swings and weekly positions., but that's not much of it, What am I doing.
lescor 01-11-10 04:58 AM
Answers on questions:
How do you scan setups, mathematically or on your own?
I use Trade Ideas scanner, but my things, who earn on “bread and butter” , use Excel to calculate entry point.
Are you a news trader or purely technical?
I trade everything, which provides a good opportunity, but I do not risk very much, unless it is part of a real system, which I have been trading for a while.
Are all your winning trades high reward / low risk in nature??
I do not calculate the reward / risk ratio for my trade.
What precision do you achieve in transactions??
My main strategies – 55-65%, i have one, which has almost 100% winnings, but these are rare deals.
You add to losing trades? How about profitable?
1. Sometimes, But not often. 2. Rarely
Are you considering fundamental news or it doesn't matter day trading?
I try not to think too much, but just carry out your plan. I spend a lot of time, reading the news, and weeding out stocks, if i think, that because of the news, they may behave unpredictably.
You deal with company reports? (Before or after)
To – do you have a guess and am betting on coin toss? Not. After – very rarely.
You trade the same stocks? If yes, how big is the stock list ? If you change your stock list, how do you scan for today's list?
Yes, the same list. About 600 Shares.
In addition to stocks, have you considered ETFs??
I would only trade ETFs or futures on technical patterns, especially swing trade. But at the moment I am not doing anything like this.
What is the largest drawdown since you became a profitable trader??
I have only had two unprofitable months since the yak started making money consistently.. A feature of one of my main strategies is that, that sometimes I have to take painful blows. Worst and quickest sheer pain was August 2007, when did the first hints of a credit crunch emerge?. I think it was about a drop 70% behind 20 minutes.
I have always strived to diversify moss strategies and it has proven, that it was a real help in flattening the curve of my capital growth line.
lescor 01-12-10 03:01 PM
I trade in a prop firm, my purchasing power (Buying Power) – it's all I need. I often use more 1 million. during the day.
The number of trades is usually proportional to the volatility. There have been few of them in the last few months., 10-20 in a day. In other cases, it may be +100. I manage most of them manually..
lescor 01-12-10 10:52 PM
_________________________________________________________________________
Quote from Gabfly1:
What is the predetermined risk you calculate on an average winning trade?
_________________________________________________________________________
I can not say exactly, because. I have no predetermined risk and I do not use stops. I try to give the deal time, and usually, when i get a loss, I continue to trade according to the plan, until something like that happens, what i'm starting to misunderstand.
_________________________________________________________________________
Quote from jnbadger:
In these difficult times, one can assume, that most of your trade (except OPG) falls on active time?
_________________________________________________________________________
Most of my trades were always during the first 90 minutes of the day, if the market is really active. Actually, last summer, I rarely sat at my desk after the first 1,5 trading hours.
_________________________________________________________________________
Quote from TheAngryHermit:
You say, what gaps – most of your trade.
In this way, one might say, what do you expect hep, to trade on its close (at least partial)? My experience was, that gaps are growing, and the gaps keep falling.
_________________________________________________________________________
Hep can go either way, but i try to apply some filters, which increase the chances of trading in my favor.
At the moment there is no time to translate the topic.. If you are interested – you can always read the original. There is a lot of interesting and useful information..
observations about CNBC
kaknal is often a good indicator of sentiment with the expectation of an `` opposing view ''.
if the upcoming report is touted all day – expect bad))
(these are isolated cases, certainly. a couple of times you will notice, already come up with a trend)
but there are also reverse moments.
recently (I occasionally glance) the thought that, that `` maybe we have a problem on the demand side?".
___________________________________________________________________________________________________
consensus – interesting thing. and the market consensus – this is x3)))
street stubbornly awaits great results from the real estate market. and every time the same.
ouch, Miss Expectation. ay-ay, sel-sel. market, certainly, efficient, but like this in the moment, just like yuan on monday. the devil's machinations are solid. whether the volatility of depletion, that's the beginning. I 'm afraid, that we won't get a plus today, but must, just have to.
Stock Exchange Movies, Traders, bitcoin and cryptocurrency – watch for free
Sometimes you want to relax and watch a good movie.. Or you can combine business with pleasure and watch films about traders, stock exchange. Of course don't count, what some sacred knowledge will tell you, but, least, a charge of motivation is provided to you. Below you can read a review of the most interesting films about traders and download them immediately..
From “Weekly Stock Market Review”
We emphasize again, that the Russian ruble is the strongest currency today, with a clear tendency to strengthen its market power. And if someone wants to bet on the strong – this is the Russian ruble. And his daughter – Ukrainian hryvnia.
…
In this way, Ukraine – it is the umbilical cord of geopolitical interest, they are preparing to make large capitals here like the Russians, so did the Germans, Koreans, Chinese – this is a potentially high demand for the Ukrainian hryvnia.
. Smile, friends.