You mentioned that your sys makes a good initial profit in the am and then tends to chop till the afternoon when I assume it catches the late day trend and makes another good run at profitability.........is it possible you could have the system pause at some time in the am and then kick back on in the to make the most of the afternoon trend? Just a thought
FrostEngine, You need to test your ideas on lots of data -- in and out of sample. Tracking performance for a few days like this isn't particularly meaningful from a statistical point of view.
This market is eating my system up.. at least it still performs well early in teh day... that is at least some positive to look forward to: NQ -$304 ER2 -$474 YM -$168 ES -$31
Excellent point! Make sure you are there for the homeruns. Getting stopped out day after day could be frustrating but it's ok imho. Good luck.
*** Contrary to your previous statement, "the market isn't eating your system up". It's pretty amazing actually. You've designed the proverbial "money tree" system, but at the same time, "you can't see the forest for the trees!" and asking a discretionary trader, exceptionally talented though he may be ... ... is just plain amatuerish. OK, that's it, you've already solved your problem. It's just that greed thing which won't allow you to implement your solution. You want ask a profitable trader how he "got there", give this guy a PM: http://www.elitetrader.com/vb/showthread.php?s=&threadid=69230 He's a very good trader, and a nice guy, and he'll tell you what you need to do, but whether you want to do it or not is entirely up to you. Best, Jimmy P.S. It might "sound harsh", but it's only words, the really harsh part is having a profitable system, but not implmenting it correctly.
Todays results: System did not hit +700 until end of day, p/l at 10:00 cst was only $220, but finished the day up over 1k NQ; $76 ES: $176 ER2: $916.40 YM: -24.82
jimmy, Thanks for your interest in this thread. 4re's S/R journal is one that I have been following everyday. He is doing some very good stuff over there. Fear and undercapitalization is what stops me from fully implementing my system. I do not have a bankroll sufficiently large to run my system so i keep tryign to perfect it until its tolerable for my bankroll. I feel i'm getting closer and closer to realizing this "money tree" but still have a long ways to go. The statements to myminitrading was made as although i have this system I still mainly trade discretionairy until ready to run this system. So being that he is a pretty good discretionairy trader I was looking for his input on trades outside of this system. thanks for contributing to this tread, I enjoy getting input
I've been following your thread, and I have to say good work so far! I was just wondering what software you use. Is it something like TradeStation, or is it home brewed?
spdracer, Its home brewed software. The backtesting engine as well as the real time trading engine was all programmed by me, and is implemented using interactive brokers api.