Weekly Update for week 25/50 ended 07/04/2009 Moderately positive week, up 1.1K (0.5%). Very light trading week, cut short by holidays and personal time off. Just a number of automated trades that eked out a little over 1K. Still playing with very small positions in the automated arena. Should still spend some time this week-end to make the system trade some of the signals being generated (right now the final decision to take the alert and place a trade depends on me. I think I am confident enough in a couple of set-ups to let the system place the order when the conditions are met.) Code: Opening Balance: 220,336 Net gain for the week 1,132 ------------------------------------------------ Net Balance: 221,468 Number of Trades 14 Number of Profitable Trades 8 Since Inception of Thread 01/10/2009 - 07/04/2009 Opening Balance: 320,064 Net loss (Less Margin Interest) -98,596 (Down 30.8%) ------------------------------------------------ Net Balance 221,468 Number of Trades 596 Number of Profitable Trades 365
This is one of the earliest mentions of you using complete Automation. You made 0.5% with your brain and a program. Taken from this week, you're annualizing at 30% with 1.0051371^52. Might want to think about ratcheting the position size up. If you've backtested properly, you could have went straight to the full position size and most likely been up a lot more. What had you been using for position sizes? 10% of equity? 20k per trade? 100k? Info?
Right now I am starting off with 30% of account per trade. I shall increase it as I see good performance. Still not closing my eyes altogteher to discretionary opportunities: it's just I am de-emphasizing them. The more automated set-ups that occupy my attention, the less opportunity to wander into destructive discretionary forays. I want the discretionary opportunities to look for me, not the other way round.
Weekly Update for week 26/50 ended 07/11/2009 Moderately positive week, up 4.2k (2%). Nothing remarkable on the discretionary front other than Wed when I decided to step in on the end of day rebound after several days of sell-off, making 6K. Marred by a decision to short the rally in RIGL on Thurs,losing 5K. The automated front was fairly OK too, except that I had some wrongful trades on Tuesday: have since fixed the system to avoid a recurrence of that. Still being very cautious as we head into earnings season. Code: Opening Balance: 221,468 Net gain for the week 4,206 ------------------------------------------------ Net Balance: 225,674 Number of Trades 23 Number of Profitable Trades 11 Since Inception of Thread 01/10/2009 - 07/11/2009 Opening Balance: 320,064 Net loss (Less Margin Interest) -94,390 (Down 29.5%) ------------------------------------------------ Net Balance 225,674 Number of Trades 619 Number of Profitable Trades 376 TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE SZCGJ 2009-07-08-15-09-19 2009-07-08-15-46-23 30000 47400 54300 6428 SPY CALL -------------------------------------------------------------------------------- RIGL 2009-07-09-12-04-58 2009-07-09-15-20-12 14000 182270 177008 -5365 SHORT
Ouch. This has been a painful thread to read through. Market is going to start a long slide downward after the GS earnings move the SPX up to the 50 DMA. I'm going to load it short the 915-925 area.
Not to highjack this thread but I agree with you about the 910-20 level, channel top IMO this lots of resistance and plenty of reasons to go short! and Neke, atleast you have stopped the red for now. Take it easy.. Always be watching, inspiration even with the draw down! Seen other threads etc. TT
I don't know what answer you'll get from OP , but I'd say YES. Very much outsized. And why dont't you take some swing trades also? Your account is big enough to keep some positions overnight and also daytrade. Just my 2 cents.