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Steve,
It's really not fair to pick on Mark, especially since he's so under
equipped to handle your riposte (something left over from my fencing
competition days :) ).
I noticed he said you were down on 50 points in 3 days. Man, that's great!
We were down 75 points! We ended up from down 9.5 to breakeven on all of
our positions. In the last 7 days, we came back more than I care to
discuss. I'll tell you privately about our paper losses. It can get quite
hairy without stops as everyone keeps telling us. We could have used stops
of maybe forty points and that would have limited my loss to $2,000 a mini
and $10,000 a big one. As it ended up, we lost nothing on the big ones and
3 minis and just $500 on 4 minis. The total loss was $2,000 on these 17
(equivalent) e-mini contracts as opposed to $34,000 using stops. Just goes
to show you that if you're trading a good system you need to go with the
flow and trade based upon your experience. Since you got in after us, I
assume you made a bunch.
That $34,000 loss would have paled next to what stops would have cost us in
our equity accounts and we exited those without a loss at all (well being
totally truthful, my brother lost $16,000 on 2,000 LSI he bought too early).
I broke even on my LSI. What saved our collective butts were the options.
We owned 40 CSCO Sep and Oct Calls and 20 QQQ Jan 2001 Calls and 50 OEX Aug
Calls. We lost some on 10 OEX Calls (mine), broke-even on 20 and made money
on 20. Even my GLW and PMCS recovered.
Anyway, we're still short with no buy for tomorrow and are waiting for the
opportunity to sell some Calls when the opportunity presents itself. I'll
give you a heads up when and if that occurs.
Happy trading,
Guy
Never be afraid to try something new. Remember, amateurs built the ark,
professionals built the Titanic.
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Steve Karnish
Sent: Wednesday, August 09, 2000 12:12 PM
To: metastock@xxxxxxxxxxxxx
Subject: MARK BROWN BANNED FOR LIFE FROM REALTRADERS FORUM!
Mark,
Could your next post address why you are the only person I know that has
been
"BANNED FOR LIFE" from the realtraders forum?
My clients didn't blink an eyelash at the drawdown...they seem to be quite
satisfied riding the current winning string and the "fraction of the action"
that was at risk in this trade. You don't know shit about my money
management approaches and applications.
Gee, maybe Ton and you are getting pissy because of that 1/4 pager (my I'm
pretty) in the Investors Business Daily yesterday. Or maybe it is my
recurring presence on CNBC during the past six months.
Your best friend,
Steve Karnish
Cedar Creek Trading
http://www.cedarcreektrading.com
Disclaimer:
The Cedar Creek Trading daily comments, technical indicators, and
suggestions are provided for information purposes only. The information
contained herein is obtained from sources believed to be reliable but is not
guaranteed to its accuracy or completeness. Commodity trading may not be
suitable for readers of these pages. Readers using the information contained
herein are solely responsible for their own actions. No representation can
be made that recommendations will be profitable, or that they will not
result in losses. This information is neither an offer to sell nor
solicitation to buy any of the commodity futures mentioned herein. The
writers may or may not be trading in the commodities mentioned.
Hypothetical or simulated performance results have certain inherent
limitations. Unlike an actual performance record, simulated results do not
represent actual trading. Also, since the trades have not actually been
executed, the results may have under-or-over compensated for the simulated
trading programs in general are also subject to the fact that they are
designed with the benefit of hindsight. No representation is being made that
any account will or is likely to achieve profits or losses. Futures trading
involves financial risk, lots of it!
----- Original Message -----
From: Mark Brown <markbrown@xxxxxxxxxxxxx>
To: Steve Karnish <kernish@xxxxxxxxxxxx>
Cc: <metastock@xxxxxxxxxxxxx>
Sent: Wednesday, August 09, 2000 11:15 AM
Subject: Re[2]: Bollinger Bands & Formula Monkeys
> Hello Steve,
>
> so is this the way a metastock dog and pony show analysis handles risk
> when he go's long the sp and then next day it plummets over 30 points
> against him? over the next few days his recommended position is over
> 50 points against him and he has no money management risk advice?
>
> yea Steve you DA MAN!
>
> Best regards,
> Mark Brown
>
>
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