Why Can I Not Create a Forum For The Daily Cash II system?
I have clicked the manage button and then depressed the ‘Create Forum’ button and nothing happens. Using Win7 and Mozilla Firefox.
It is a known bug by the C2 team. They are working on it.
…Ok. Thanks…
I notice that you have another system called “CashMoney”—and it has lost a lot of money. I also noticed you closed that fund. Was your motivation to open up the new Daily Cash II system due to the previous failed systems?
Mike
CashMoney was a test system although I did not label it as such that I experimented with 6 years ago. It involved stocks, forex and options. As I recall, I never opened this system for subscribers. My expertise is short term stock trades only. So, I will not be opening another system like CashMoney. Also, I let the subscription expire after the first 6 months and there were only about 46 trades in it. The collective2 systems makes it look like activity was still going on with the system several years after it expired. So, the chart you see is very misleading. Here are the 6 months returns from 3/2009 to 9/2009: +1.5% (0.3%) (24.7%) +12.6% (0.1%) +4.0% (0.3%). As you can see, the 3rd month was way down because I was experimenting with forex along with some stock trades. Cash Money is not indicative of my abilities. So ignore it.
BTW. Daily Cash II is being traded as such that you should never see down months in any of the monthly returns.
Hi PJ Trader,
I am presently testing your system on a trial basis because during the last month you have demonstrated your ability to do very good discretionary trades and that is what I am presently looking for - good discretionary traders. However, there is one thing that bothers me, you get the market value of each position by arbitrarily using for each trade a number of shares determined as a percentage of your equity (presently around 330 shares per position) rather than determining the market value of each position as percentage of the equity. Since some of you higher priced stocks are about three times as much as your lower priced stocks there can be huge discrepancies in the market value of your positions. Don’t you think you would get better and more consistent results by using a percentage of your equity to determine the number of stocks to trade for each signal?
Karl
Hey Karl,
Thanks for signing up. I assume you would not have even considered my Daily Cash II system if my C2 score had not been 95 at the time. For some reason, my C2 score keeps getting adjusted downward after the initial score is assigned – which I fail to understand since my current Calmar rating is above 180 and my current Sharpe rating is above 8 for this system. But, I digress.
To answer you question: It’s much quicker for me to figure out the number of shares to enter in the order entry screen by just taking 1% of the current account value figure. Easily I know that 1% of a $30000 account value figure is 300 shares or 1 % of a $33800 account value figure is 338 shares. It may not be the conventional way of doing things. But, this is my preference and I trust that the subscriber still won’t have a problem scaling this system to their individual needs.
You asked: "Don’t you think you would get better and more consistent results by using a percentage of your equity to determine the number of stocks to
trade for each signal?
I feel exactly the opposite about this statement. It seems to me that I would get more consistent results if every trade is 300 shares or close to that, for instance, rather than 1 trade being 120 shares and another being 53 shares and another being 75 shares etc.on a per share profit increase of for instance 1 pt. In this example every trade has made me at least $300 instead of $120 on one trade and $53 on another trade or $75 on another. Right? And, besides, I state in the system description that no more than 2 day trades will be made per day – one short and/or one long. Usually my system trades just one day trade per day though.
Thanks for the fast reply, I also noticed that you replied quickly to my private message which is always a positive.
Since I am used to evaluate systems on a percentage basis it is hard for to swallow that you prefer to think in points per share gained rather than percentage gain but maybe this is the way day traders and scalpers go about their business and maybe a fast entry where even fractions of a second could count is critical to your system, so for now I will give you the benefit of doubt.
As far as the C2 score is concerned I never look at it, it is fraught with many inherent problems.
One advice I would like to give to you and any vendor with a promising system, you would increase confidence tremendously and probably also the subscriber base if you create a TOS system.
“and maybe a fast entry where even fractions of a second could count is critical to your system,”
Yes. This is a accurate assessment. And about 50% of the time I actual get the exact entry I want.
“One advice I would like to give to you and any vendor with a promising
system, you would increase confidence tremendously and probably also the
subscriber base if you create a TOS system.”
Well when Mathew is able to get my broker to signup, I will do TOS.
But, I have had a special commission relationship with my broker for several years now and I’m not willing to give that up.
At any rate, I’m not aiming for high subscriber volume – Too many subscribers might spoil a good thing.
So, currently, Daily Cash II will have a limit of 12 subscribers.
PJ,
Your position sizing method is unusual but I can see where it would save time if day trading. I assume you filter the universe of stocks you are able to trade based upon their current price, which would cap the price of a stock currently at about $226.66 per share or less in order to have enough margin available for the trade?
Are you also filtering by volatility or ATR so as to increase the probability of attaining your $.50 target for the day?
Hi Corey,
I evaluate stocks with prices between $20 and $150.00 And yes I do use ATR filtering along with
30-day avg volume greater than or equal to 750K.
