Gringo! Lemon is not served here with Corona, my little jumping bean. Ebo, I suggest you get out of that Gay bar and straighten out. Come on over to ET, ET rocks! (we serve lime and salt w/Corona here...shot of To...killya on the side too). With all these talented folk here I am sure I can get a double blind placebo, random, quarterly tested, feyman effected, sliced and diced backtest with standard deviated variables to the max! (and maybe Harry will audit it for hidden agenda) ET's backtestors can run circles around any backtestor out there! Michael B. P.S. YM on Sunday evenings can be a little more active than most evenings. Open is in 4hrs at 19:15 cst. P.S.S. axeman, war eagle, chad long, quah, haymen, sub! get in here right now! Please?
I suggest you folks check out Tripacks Journal. You will learn much there. I did. Michael B. P.S. here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=28391
Yes you can, I have no problem. The manual cost $299. Link: http://www.surefirething.com/sign-me-up.html http://www.surefirething.com/day-trading-faqs.asp or another link: http://www.ipickedcrash.com/book/index.html Thanks and Goodluck. manz.
Harry, With Electric's condition he has no business drinking at ET like that. If you guys would just realize that ElectricYahoo is a very sick man. Would you please tell him to come home to Wifey and quit these shenanigans. Do you know that if Electric drinks he could be incarcerated for drinking while under the influence of a trading system? DWITS. If that dweeb gets busted for dwits by you ET bad boys then its the wrath of Wifey to you. WOW. So remember, dweeb + dwits = Wow Wifey
What happened? My wife comes storming in here with the police to take me back. I was having a cold Corona with a tequila chaser with Ebo and there she is. What did you folks do? She was mumbling something about the French Harry was complaining and something about dweebs and dwits. Who is French Harry? and what the h*** is a dwit! Michael B.
Well, apparently the YM decided to drop down and fill the lower long reversal bracket at 10026 for a profit of 111 YM points/contract before going back up (70% probability, and don't ask). New position: net LONG at 10026 (reversal short brackets at 9971, 10134) Total profit trading 1 YM contract from 04/27/04 =503 YM points/$2,515.00/per contract. Michael B. P.S. The fill could have been a little tricky here, and you might have needed to wait until 24:51:26 (cst) P.S.S. Remember the new rule beginning next Friday GO FLAT AT FRIDAYS CLOSE. This trade should have never of happened and if this were next week we would be entering long now without any profit. But Friday the system would have netted around 57 YM points instead of the 111 points tonight.
I am leaning towards doubling down after 1 or 2 consecutive losses and continuing double contracts until the win is reached, then returning to single units (whatever that may be). The capital required would be based on the worst happening with a buffer. Want to test a little longer though. The reason this type of system warrants this aggressive bet sizing is because when it is searching levels in a trending instrument like the YM it is probabable it will find its profitable direction after getting faked (I think). Michael B.
ElectricSavant, Since your only considering doing such... Instead, you may want to consider only doubling down if your trade signal is in the direction of the overall trend. With that said...I do not recommend doubling down simply because you had consecutive losses... Especially if you do not know until after the fact this is a normal drawdown period. Something else...you also need to know when your losses usually occurs. For me...I average about 3 trades per day. It's trade #1 that has a higher probability to result as a loss in comparision to trade #2 and #3. Knowing such...I have one more competitive edge via position size management. Simply, my first trade is almost always small size (a few contracts) in comparison to the following trades. My point is this... Don't just double down, increase or decrease your position size unless you have stats of your trading that suggest such is merited. Position size management is extremely useful when you either take trade signals that go against the overall trend or in continuation with the overall trend... Example, small size only when going against the overall trend. Normal size when in consolidation. Large size when its a high probability trade signal for you with the overall trend. The above is simply an example of numerous ways to play with such. OR Your using several different types of strategies and you know which one has a higher probability for profits compared to the others... Example, strategy 1 < strategy 2 < strategy 3 in terms of success. Strategy 1 = Small size Strategy 2= Normal size Strategy 3 = Large size OR You understand (know your stats) of when your losses tend to occur along with understanding when your winners tend to occur. Example, if you tend to give back your morning profits in the afternoon... Be extremely careful about doubling down in the afternoon. I've just touch only a small aspect of position size management and I'm sure there's more sophisticated ways of doing such based on many other different factors. My point of replying...doubling down just because you've had consecutive losses without any stats about your trade methodology... Can be very dangerous to your trading account. Good Luck. NihabaAshi
NihabaAshi Position size management is a far more professional way of saying it. Thank you. I must wait to see what to do, not ready yet to make a decision. But you are right, I need more than just the simplistic approach I am suggesting. You see this systems approach to trading simply draws lines in the sand. They say it identifies support and resistance. Well I do not believe that, as how can static lines draw that conclusion from range? I believe this equation is a positioning equation. I was thinking that nobody really knows the direction the instrument they are trading is going to take. So try to catch the trend. It is actually trending charactaristics that causes trading NOT to be random. You have given me an idea. A weighted moving average would be ideal for this trend ID. Upward slope: Double down on longs... Downward slope: Double down on Shorts. Guess I will need to breakdown and turn E-Sig back on or StategyRunner. Does anybody know if StategyRunner has WMA? Thank you for your time. Michael B.