Up 40.35 % for the year.
Contest standings can be found here. http://www.worldcupadvisor.com/worldcupchampionships/default_nwcc2.aspx
In an earlier post, I mentioned that I would tell you what a Market Wizard (from Jack Schwager's books) thought of trading contests. Here it is...
I'm sure you've heard of Dr. Van Tharp (www.iitm.com). He was interviewed in the book Market Wizards. Van has studied the habits of many successful traders, and currently helps traders succeed.
His work has helped me quite a bit.
Back in 2006, Van had this to say about my performance in the World Cup contest:
"And although Kevin has been trading and learning for 15 years, most people that win in trading contests are doing some very dangerous things with position sizing. So notice your reactions. Are you impressed with the people that win competitions? Or is your gut reaction to learn more about how to trade effectively in any market – and just stay in the game!"
Keep his thoughts in mind as you follow this blog.
(By the way, my results this year will not depend on dangerous position sizing. I have pretty simple rules for sizing, and adding on to winning positions. Right now, I always start with 1 lot, and add only if appropriate.)
Congrats for the new equity high, the greater the drawdown, the greater the recovery!
ReplyDeleteIf there is significant follow-through today, your returns would explode!
For anyone following this blog, and wishing to become a professional trader, this kind of equity curve is as real as it can get. It happens ALL the time for full-time traders.
ReplyDeleteUnlike a day-job, a trader got to face the mental stress of seeing his account +x in one day, -x in another, and so on, while continuing putting in the trades everyday without fail, and not knowing when he would get his salary.
You would have wished "the gurus who taught you how to trade" have told you this earlier.
People with small accts believe that leverage is a ticket to wealth. Professional traders with big accounts believe that leverage is a ticket to the poorhouse. So, both act in accordance with their beliefs.
ReplyDeleteThis acct is a good example of high leverage performance. Definitely not recommended for larger accts.
Kevin, nice trading here. Maybe you've answered this question, but what markets were you trading?--
ReplyDeleteBeau
There are 22 markets that I may take a position in. Typically 1-5 trades per year in each.
ReplyDelete