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bwolinsky
Registered: Jul 2008
Posts: 4555 |
04-28-12 01:29 AM
That kind of mistake in coding shows wreckless abandon for the instruments he's trading. No strategy can ever be profitable losing 80% immediately, because that's not just slippage, it's carelessness.
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PHOENIX TRADING
Registered: Mar 2012
Posts: 6765 |
04-29-12 08:01 AM
Quote from neke:
[B]Weekly Update for week 15/50 ended 4/27/2012
Flattish week, up $902 (0.6%). Still trying to close holes in my automation. One of such holes caused an entry to an out-of-money position with no bid. The system bought 180 contracts @ 0.25. When I was alerted I checked the option, and it was bid - ask 0.25. Almost 4K lost instantly. Managed to exit @ 0.05. That is the kind of bug I have been fearing preventing me from automating options - for stocks you could be forgiven with little slippage. Somehow my checks didn't prevent that. Glad though the system recognised my size limit for options.
Will still continue putting my strategies in automated mode, leaving little to fickle discretion.
Glad to see you eke out a small gain but it sounds like you could have had a 5% week if not for the automation error.
Honestly automation scares the crap out of me for exactly this sort of thing.
I kinda get the impression you prefer automation mode as a way of not taking responsibility for your trades at this point.
Wouldn't it be better if your system sent you alerts on the condition and you opened positions on your own?
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tenthousandmen
Registered: Dec 2011
Posts: 728 |
04-29-12 06:20 PM
Quote from PHOENIX TRADING:
Glad to see you eke out a small gain but it sounds like you could have had a 5% week if not for the automation error.
Honestly automation scares the crap out of me for exactly this sort of thing.
I kinda get the impression you prefer automation mode as a way of not taking responsibility for your trades at this point.
Wouldn't it be better if your system sent you alerts on the condition and you opened positions on your own?
you stated openly how many times you've blown up without success. "Automation scares me" ha ha. Keep the expert hat out of this room please.
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masterm1ne
Registered: Dec 2009
Posts: 798 |
05-02-12 07:04 PM
"The more educated, experienced, or successful any trader becomes, the more susceptible that trader is to trade attachment, especially if he has previously taken a lot of money from that particular market previously."
-J. A. Jankovsky
I thought of Neke just now when I read this.
GL man...
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neke
Registered: Nov 2006
Posts: 1008 |
05-05-12 01:55 AM
Weekly Update for week 16/50 ended 5/5/2012
Moderately positive week, up 2.2K (1.4%). Made 4.4K via automation but lost 2.2K on discretionary. Took out 6K for the month ended 4/30/2012. Will still cut further on the discretionary as it has become a drain. Ideally discretionary trading should be only for HC scenarios that I couldn't have foreseen with my automation, but instead I have applied it to anything that comes by.
For the three weeks 4/14/2012-5/5/2012, account is flattish (down $400) versus target of +6K. 39 automated trades made +10879, even with costly execution bugs, while 28 discretionary trades lost 11286. So the direction is pretty clear - hold off as much as possible from the discretionary trades. Will maintain my risk level at the same level (max 3% size per option position) while target is set at +6K for the next four weeks (5/6/2012 - 6/2/2012).
code:
Opening Balance: 161,162
Net gain for the week 2,243
cash Withdrawal (6,000)
------------------------------------------------
Net Balance: 157,405
Since Inception of Thread 01/18/2012 - 05/05/2012
Opening Balance: 203,729
Net loss (23,324)(Down 11.4%)
Cash Withdrawal (23,000)
------------------------------------------------
Net Balance 157,405
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PHOENIX TRADING
Registered: Mar 2012
Posts: 6765 |
05-05-12 03:59 AM
Quote from neke:
Weekly Update for week 16/50 ended 5/5/2012
Moderately positive week, up 2.2K (1.4%). Made 4.4K via automation but lost 2.2K on discretionary. Took out 6K for the month ended 4/30/2012. Will still cut further on the discretionary as it has become a drain. Ideally discretionary trading should be only for HC scenarios that I couldn't have foreseen with my automation, but instead I have applied it to anything that comes by.
For the three weeks 4/14/2012-5/5/2012, account is flattish (down $400) versus target of +6K. 39 automated trades made +10879, even with costly execution bugs, while 28 discretionary trades lost 11286. So the direction is pretty clear - hold off as much as possible from the discretionary trades. Will maintain my risk level at the same level (max 3% size per option position) while target is set at +6K for the next four weeks (5/6/2012 - 6/2/2012).
code:
Opening Balance: 161,162
Net gain for the week 2,243
cash Withdrawal (6,000)
------------------------------------------------
Net Balance: 157,405
Since Inception of Thread 01/18/2012 - 05/05/2012
Opening Balance: 203,729
Net loss (23,324)(Down 11.4%)
Cash Withdrawal (23,000)
------------------------------------------------
Net Balance 157,405
Dang guess I was wrong about the automation part but I'd still be concerned about errant position openings long or short with automation.
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