Some big profits last week I see, nice call on the February puts guys!
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- pythagoruz
- I have a PhD in Materials Science and Engineering from the UIUC. Before that I was at UCSB working on degrees in EE and Physics. I currently do research on an emerging type of photovoltaic based on semiconductor nanocrystals. Investing is one of my hobbies.
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7 comments:
Hey Hunter,
Can you give me some guidance?
Things happened which had been anticipated by my algorithm and
Now I have made 56% profit.
currently I am sophomore in computer engineering at India.Do you think that if I try to make some more profit and make to the top 5 then IB may offer internship? Or should I stop trading now as I have already made significant profit.
Do Reply
FYI 56% profits were generated by trading yesterday and today.before that there was a dip Loss!.current equity of mine is 1564530.
Hey Chintan, congrats that's a great profit for a sophomore! About going for more, its really a question you have to answer for yourself because I don't know any of the details. At first glance I would say just turn off your code and relish in your victory. If you end up in the top 13 you will get $10k, that's a lot of money!! That being said, if you are confident that you won't loose the money and that you can make it to the top three I'd say go for it. 2nd and 3rd place get 50k$ which is obviously a lot more than 10. Forget about first place unless people get disqualified.
I haven't heard of any internships being offered as a result of the competition so I wouldn't expect it, especially if your strategy made all the profit in a one day swing like that. But it will look great on your resume that you made it into the top ten and had a profit of 56% in two months.
Hey Hunter,
The things are very complicated.Let me explain.I wont disclose my instrument(otherwise others might trade it).Actually I had designed intraday strategy betting on volatility would be around 60 levels as it was during oct/nov/dec.But during competition period volatility decreased around 35/40 levels on average excepting some semi-light-grey-swan-days.So I had to further optimize it and then changed my holding period from 4 hours to 20-23 hours.As I had made a bloody mistake of mentioning only "intraday" holding periods.I got Long on xxx product before 5 weeks and was selling every 23 hours and buying it immediately.before 5 weeks xxx was trading around (x)$ and now its (x+10%)$.But all through this way I was loosing lots of amount in transaction costs.But due recent momentum in my xxx product,it has finally made substantial profit.
I know that aforementioned stuff is really difficult to comprehend but after reading couple of times you will be comfortable.
(uhhhh...So it wasnt one day shot..And Algorithm and me both agree that momentum will continue.)
So whats your opinion ;)?
Yeah, It will really look good on my resume.And I can still participate in 2010/2011...;)
forgot to mention:If had not written in my trading plan that i will trade only on intraday,then i might have been sitting on 250% profit.
But thats the thing which really makes me angry on myself that what kind of fool I am.;(
Heh, yeah hindsight is better than 20/20 when it comes to the makets. If my program had bought instead of sold all of the options that it did I'd be sitting on a 100%+ gain as well.
This product your talking about sounds like VIX options or something. I have studied those a fair amount and determined that they were too far removed from the actual VIX to be a good investment vehicle. If you'd like to discuss it in private you can always send me an email, I'd be curious.
If you think the momentum will continue, then I'd say go for it. Since your strategy is intraday only then you can always choose to not run it if you becoming worried about loosing the top ten placing.
I agree with you on the momentum, that is, I think stocks are headed much lower. There is the possibility of a sharp bear market rally here but it seems very unlikely given the economic environment and extremely bearish technicals. In fact, I was re-buying SPY puts today that I had sold yesterday (with real money).
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