 |
lindq
Registered: Mar 2002
Posts: 2475 |
10-25-12 10:38 PM
Quote from themickey:
Funny how errors often cause a loss and not a win.
Interesting observation, as I had the same thought this morning with an entry error.
The odds of entering a trade and going immediately positive or negative would seem to be about even, eh?
But of course it seldom is the case. Go figure.
|
| |
|
Edit/Delete • Quote • Complain |
bone
ET Sponsor
Registered: Apr 2002
Posts: 4329 |
10-26-12 12:38 AM
I agree that you got a very inexpensive lesson - if it sticks you will make that back exponentially.
BTW, I have seen and heard about many similar instances when new systems were tried out in thin overnight and late afternoon markets.
__________________
Spread, Relative Value, and Correlation Trading Instruction from a Professional Trader. The only thing that matters are Clients making money IN LIVE MARKETS. Why not interview my clients for yourself on an independent basis. My typical client is an outright directional trader looking to pick up an industry-recognized specialty technique. http://www.spreadprofessor.com
|
| |
|
Edit/Delete • Quote • Complain |
WD40
Registered: Dec 2005
Posts: 418 |
10-26-12 02:15 AM
Quote from themickey:
I've written my own autotrading system which shows positive expectancy on testing and I am relatively new at trading it.
A couple of days ago I had it supposedly sitting on standby so as not to take any trades and during the day while at work the system placed a long trade at the very top of the day.
As I was leaving work I received a phone call so instead of driving, sat and chatted for 30 minutes making me even later getting home.
When I walked in the door I was down $1500.
Man was I shitted to put it mildly.
There was a small glitch in my formula which I hadn't spotted in spite of all my backtesting.
Conclussion: Several, but one which seems to come back at me often is that errors in trading are a large reason for many of our losses.
Funny how errors often cause a loss and not a win.
Anyhow, the loss really shook me up, I tried revenge trading during the night, all night in an attempt to regain my loss.
Result;another smaller loss and totally buggered at work the next day.
Went to bed at 6:30PM last night to recoup my energy.
Just thought to share, I hope to learn from this and remain positive.
Ps: Don't tell me about revenge trading, I know I was an idiot but no pain, no gain (in the lesson department of the brain)
Nobody leave their autotrade unattended. It may be auto, but doesn't mean unattended.
|
| |
|
Edit/Delete • Quote • Complain |
bone
ET Sponsor
Registered: Apr 2002
Posts: 4329 |
10-26-12 03:08 AM
Quote from WD40:
Nobody leave their autotrade unattended. It may be auto, but doesn't mean unattended.
Agreed. I have done it in the past ( overnights ) as a lone ranger but there were times I seriously regretted it. I am talking about simple Trading Technologies AutoTrader and AutoSpreader configurations - nothing sophisticated. I used to keep the fill alert chime volume turned way up so that I could hear it, but by the time I awoke to check it out usually it was a good fill but occasionally I wet myself prematurely. And stayed up getting out of the mess.
Every desk or group that I know of staffs their desk 24/5 if they are autotrading.
__________________
Spread, Relative Value, and Correlation Trading Instruction from a Professional Trader. The only thing that matters are Clients making money IN LIVE MARKETS. Why not interview my clients for yourself on an independent basis. My typical client is an outright directional trader looking to pick up an industry-recognized specialty technique. http://www.spreadprofessor.com
|
| |
|
Edit/Delete • Quote • Complain |
themickey
Registered: Sep 2009
Posts: 409 |
10-27-12 11:19 PM
Quote from WD40:
Nobody leave their autotrade unattended. It may be auto, but doesn't mean unattended.
My system is designed to be unattended. It runs 24 hours a day Mon-Sat and has been doing that for some months reliably.
I had forward tested but this was an event which it had not come across before where I put it on standby, normally always engaged.
It has in my opinion a high rate of return so the rewards outweigh the risks. These are teething problems and also due to lack of experience on my part.
I sure am anticipating the day I can hand my notice in at work and trade full time thereby being closer to the control room but it doesn't alter the fact, the system runs 24 hours a day and I still need to sleep.
Maybe I need to set up my trade alarms to contact my mobile phone.
|
| |
|
Edit/Delete • Quote • Complain |
themickey
Registered: Sep 2009
Posts: 409 |
10-27-12 11:36 PM
A heads up on how I run the 'control room' Futures Trading.
There are 4 laptops (8 monitors total)
1 = trading
1 = testing/system development
1 = Amibroker - all world market indices, years of EOD data history - 1973
1 = Internet
There are 2 x modems running
1 x UPS Backup
|
| |
|
Edit/Delete • Quote • Complain |
| Receive
an email whenever a new post is added to this thread by subscribing
to it. |
|
|
|
|
