Transaction History for May 1, 2005 - May 31, 2005 for the Cash account There was a third sub account for the first ten days in May, which I can post if necessary. Wifey
The only undisclosed thing that Electric is doing are the trades in the account, which are discretionary. Note that the rules tab in the spreadsheet attempts to give an overview of "how to think" systematically. Perhaps, Electric can add in that tab, what he does in more detail on those "trading days" which are rare in this system. Wifey
I am going to start and charge labor to Electric for doing his bookkeeping. I need some dollars for my "mad money" account. Every woman needs one of these, besides if I am going to get my Hummer, I will need to do it myself. Wifey
By the way...If you are wondering why Electric draws out money every month, which he will doing on Monday or Tuesday next week, it is because he pays our taxes quarterly. He combines some money from other things, together with the deduction here to pay our partner...the IRS. Electric will not spend money unless everything is paid cash. He claims he needs to be "real", instead of living in the illusion of a borrowed condition. But I still have my credit card! (Electric pays it in full each month and does not let me have a higher limit!) We really must get some real estate and max out the IRA's and MSA accounts. I do not work as I am a full time student, but Electric has two IRa's...a traditional one and one for his business. If Electric would buy some real estate, build some equiity and then borrow some cheap money, imagine what he could do with it? Wifey
What the heck. I changed the labor to 8 hours a day (I gotta pay Wifey ). I have the charts on the entire day and glance at them throughout the day. Don't worry folks, I am not going to increase my draws...but the per hour calc will look very low. When in trading mode I have the positions tab open and close a position at $1.00 profit per 2k units. So if I have 13k units in AUD/JPY I wait for $6.50 to show up. There are only three instruments to watch and I wait for $6.50 to show up in them too even though they are not at 13k units, but they are ideally proportioned, based on the AUD/JPY calc. Simple...really nothing to learn. I will tell you right now....there is no way I use 8 hours per day when the system is just collecting Interest. I don't even glance at the charts when the limits orders waiting for execution are far away. But when I am not trading, I have the Trades tab open...not the positions tab, and I sort the trades in decending order under the Profit(usd) tab. I will close the ONES at the top if profitable at the same time closing ONE at the bottom taking the offsetting loss. I may net up to $2.00 in the current capital size I am trading. Michael B.
Electric, What is the thought process about how to re-enter. This seems to be the problem as you want to hold the daily interest injection at the previous level before you liquidated these positions. Are you not just giving the spread to the broker with unnecessary trading? Wifey
When I re-enter, I use a scaling methodology rather than pouncing a 13k limit order in. I use a technique that I learned trading the ES three years ago. I stagger the entries one pip apart each improving on one another. I always seem to get an improvement in entry compared to just pouncing in. Of course each trade is dictated by capital traded. I could trade 1 billion dollars this way, in Retail Spot Forex (I am not bragging, its just the liquidity is so great). There is a dialing down that I did as I do mix in some discretion. When I get an extended period of all three pairs yielding profitable trades, I start to "dial down" as all three are "netting" together, which means they can all lose together in the next cycle. See the 1 yr range section of the spreadsheet and note I came down from base 20 to base 13...in AUD/JPY and the corresponding trades in the other three pair. You have seen this live in this Journal, just look at the last two weeks for an example(we have been rather fortunate in this Journal to see this). I am expecting a hard test now, which is rather fortunate. In this "carry" type of system it could of taken years to see what we are seeing live right now. Also note that in the beginning of the 365 day trading cycle as Interest is paid and profits are taken, there is a "natural" dialing down that I do...as I only aim for my predetermined 25% after labor. If I outperform that, then I can dial down as we get deeper into the 365 days. This Journal represents a good beginning into the 365 days, and if it keeps progressing, I will not be trading at all and just collecting interest in the cash account, until the next 365 days starts (but if I were trading for a hedge fund, they would make me trade, but I would never sacrafice the precepts of exposure that I have learned.... to make wild claims and yields that are irresponsible) The current 114% projected will be dialed way, way down, so folks do not expect more than 25% after labor. If I have to just let cash set in 2.3% I will, then this Journal would be over. There are four seats in the car. Not Gambling Defensive Speculative Gambling I sit in the drivers seat, because I am preemptive in my strikes and "always in". Michael B.