Author Topic: Folio Traders - Roll Call  (Read 13678 times)

Bohb Daishi

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Folio Traders - Roll Call
« on: March 06, 2014, 05:44:27 AM »
I'm curious how many Folio traders there are on these forums. Whether you dabble with a few notes here and there or you trade enough to make a living, make a post in this thread.

Right now about 95% of my account is devoted to trading. On average, my volume is about 600-800 trades a month.


Edit: to clarify, by "trader" I mean someone who actively purchases notes on folio with the intention of re-selling them shortly thereafter. So even if most of your activity is buy-and-hold, post here if you make trades every now and then.
« Last Edit: March 06, 2014, 01:15:50 PM by Bohb Daishi »
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OptionsTraderFL

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Re: Folio Traders - Roll Call
« Reply #1 on: March 06, 2014, 06:59:44 AM »
I'm new but I did 100 trades last month.

edward

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Re: Folio Traders - Roll Call
« Reply #2 on: March 06, 2014, 08:46:42 AM »
Folio is about 95% of my trading ($800 per month mostly $15 or less buy price each), with a few new notes selected through filters each month. I use Interest Radar for all actions and filters. I'm 99% buy-and-hold.
« Last Edit: March 06, 2014, 10:25:10 PM by edward »

Jomar

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Re: Folio Traders - Roll Call
« Reply #3 on: March 06, 2014, 09:00:58 AM »
I've bought a handful of Folio notes, but wouldn't consider myself a trader (yet).

lender_john

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Re: Folio Traders - Roll Call
« Reply #4 on: March 06, 2014, 10:22:40 AM »


In a folio state, so trader by default..

Not quite the same volume as you.. but that might change once I figure out the mess that is my IRA.

The latest from LC is that I am 'discouraged' from trading through it, but they can't say for sure what the future holds.

core

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Re: Folio Traders - Roll Call
« Reply #5 on: March 06, 2014, 11:08:29 AM »
In a folio state, so trader by default..

I wouldn't say so, not necessarily.  In my mind the definition of trader is someone who buys something for the purpose of selling it, not to hold onto.  I'd guess that the vast majority of Folio purchasers in Folio-only states are not "traders".  Bohb didn't clarify this in his OP but I'm pretty sure he wasn't talking about making purchases on Folio.   I'll wait for the verdict from our loyal scout.


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Just kidding, you buy & holdies.  All in good fun.  That image applies more to the primary platform anyway.

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The latest from LC is that I am 'discouraged' from trading through it

Is this something new they sent you?  The last I heard/saw it was "forbidden" (although not electronically forbidden).  That's quite a bit stronger than "discouraged".

PeerSocialLending

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Re: Folio Traders - Roll Call
« Reply #6 on: March 06, 2014, 11:18:57 AM »
Hey, that guy has a full cart! Nothing wrong with that :)

I participate in folio, but I don't fall into the trader category by Cores definition.
-Ryan
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lender_john

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Re: Folio Traders - Roll Call
« Reply #7 on: March 06, 2014, 11:51:22 AM »
Nice one Core..

Sometimes looking at whats available on folio feels more like the second picture.

Quote
The latest from LC is that I am 'discouraged' from trading through it

Is this something new they sent you?  The last I heard/saw it was "forbidden" (although not electronically forbidden).  That's quite a bit stronger than "discouraged".
[/quote]

That was their official response to the question of folio/sales purchases from an IRA in a folio-only state that was started years ago before any ban or any hint of one.



Keltset

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Re: Folio Traders - Roll Call
« Reply #8 on: March 06, 2014, 12:04:34 PM »
I'm curious how many Folio traders there are on these forums. Whether you dabble with a few notes here and there or you trade enough to make a living, make a post in this thread.

Right now about 95% of my account is devoted to trading. On average, my volume is about 600-800 trades a month.

It wasn't until recently that I started heavily using folio to "trade" as opposed to simply offload a note for some reason or simply to hold. Now a majority of my work goes into trading notes over the buy and hold strategies. I have substantially increased my returns way over anything possible on the platform. I'm currently allocating about 70% of new liquid to folio trading and the remaining 30% of new liquid is still going to my B&H strategy.

I wouldn't state that I'm making enough to quit my day job exactly, however I do make enough that should all hell break loose and I lost my job I would be able to sustain my current necessity cost of living on profits. I do find this question a difficult thing to answer because "making a living" off of it is a very person/situation specific reply. One could be making a living trading notes with annual return of 60-80% trading, or one could make a living making 10% annually with a larger balance. Are you asking if people are doing this -as a job- or are you trying to determine the viability of such a thought within our LendAcademy demographics? If the latter, I think a better question would be what kind or annual return are "traders" taking down annually. The average return rate is what I would be more curious over- I think ability to perform or create a livable income would be a more interesting question over the question if a person is specifically choosing to do so; I suspect many could but choose not to in order to increase NW at a more rapid pace.

To answer my own thought, my last three month rolling (annualized) came in at 138.20%- although I got pretty lucky and had very little individual trade losses.


core

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Re: Folio Traders - Roll Call
« Reply #9 on: March 06, 2014, 01:03:34 PM »
Quote
I think a better question would be what kind or annual return are "traders" taking down annually

There's only so much money you can take out of a trading pit.  That amount is what you'd make if you had infinite resources and killed all the other traders.  At a certain point, a bigger account balance does nothing but decrease your annual return.  So I don't see much relevance in this metric.  You might be making 100% return now, but if you doubled your account size you might be making 50%.  What does that tell you?  Not much.

Dollars per month makes more sense to me.  Unless with your strategy you find yourself always short of capital.  In which case you just haven't hit the upper limit yet for the pit, but that limit might be right around the corner waiting for you.  Your current return tells you nothing either way.

Bohb Daishi

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Re: Folio Traders - Roll Call
« Reply #10 on: March 06, 2014, 01:29:16 PM »
I edited my OP to reflect the definition of a "trader". I'm surprised at the turnout, so far we have 5 traders (big and small) who posted. Add in the obvious NJG and that brings us to 6. That's almost enough to form our own secret society...  ;)


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That image applies more to the primary platform anyway.

Haha! Sadly, that's not far from the truth for the primary market. The story is quite opposite for the Folio market, however.

Quote
I think a better question would be what kind or annual return are "traders" taking down annually

Dollars per month makes more sense to me. 

I have to agree with Core on this one. While I can boast a 124% annualized return so far this year, it's not as important as the actual dollar amount you are pulling in. ROI is a good indicator when you can put all your cash to work, no matter the size. But for a market this small, with this many players, it is not a reliable indicator.
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Dark Vulture

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Re: Folio Traders - Roll Call
« Reply #11 on: March 06, 2014, 01:34:43 PM »
Mainly buy/sell notes that are really late and basically left for dead for me to clean up. Used to buy/sell a lot of notes in bankruptcy until LC took that away. I just find it easier to feast on buying/selling late notes than notes that are fresh and current.

loan_trader

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Re: Folio Traders - Roll Call
« Reply #12 on: March 06, 2014, 01:44:08 PM »
I edited my OP to reflect the definition of a "trader". I'm surprised at the turnout, so far we have 5 traders (big and small) who posted. Add in the obvious NJG and that brings us to 6. That's almost enough to form our own secret society...  ;)

I wonder how many total users are in LC and Folio. Maybe there are only 7 or 8 and they are all on these message boards!  ;)

Keltset

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Re: Folio Traders - Roll Call
« Reply #13 on: March 06, 2014, 04:10:12 PM »
I must agree Core, I was not specifically looking at but was also assuming dollar efficiency. My number is not something I would expect to be sustainable and currently have not hit a "cap" to how much I could dump into my strategy so I'm unsure what the market could handle with my strategy against volume. And as I hope I indicated, I don't expect my rate to sustain at that rate. I guess the reality is that to make a proper production curve we would need both figures and, I'm not sure what to call it, but the decay rate of efficiency with increased volume. You make the valid point that an account making 200% on $10.00 is much different than an account making 200% at $100,000

New Jersey Guy

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Re: Folio Traders - Roll Call
« Reply #14 on: March 06, 2014, 10:20:16 PM »
Quote
Add in the obvious NJG and that brings us to 6

Yea, I'm here and have been watching!  I have nothing to add because I'm going through the first quarter blues (I mean red).

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