I am short today
20% per month trading half of the time with a 75% winrate and under 1% drawdown
- Thread starter ElectricSavant
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TY Amahrix for your thoughtfulness. I am now asking myself good questions about how large my account needs to be to trade the MNQ or what option to hedge with.
Es
Es
Geezus... talk about analysis paralysis!!
Forget all this hedging, optimal account size, and all this other nonsense.
Here's your plan (not your method(s))...
1) Open account with minimum account opening required by Tradovate to trade 1 micro-NQ.
2) DAILY "goal", by hook or by crook, is to NET (after commish/fees/etc) 40 ticks. That's $20 in the MNQ world.
3) Maximum daily loss is intraday margin requirement for MNQ. Tradovate has $50 intraday margin for MNQ. In post #3 you stated... "no holds into the next session".
4) At the end of your trade day (or max loss) analyze each trade and BEGIN to perfect your parameters based on actual MAE/MFE etc.
BTW... 40 ticks NET per day is approximately equivalent to the average annual income in the US, IF/WHEN you scale up to 1 MINI-NQ, $200/day.
You're welcome.
Forget all this hedging, optimal account size, and all this other nonsense.
Here's your plan (not your method(s))...
1) Open account with minimum account opening required by Tradovate to trade 1 micro-NQ.
2) DAILY "goal", by hook or by crook, is to NET (after commish/fees/etc) 40 ticks. That's $20 in the MNQ world.
3) Maximum daily loss is intraday margin requirement for MNQ. Tradovate has $50 intraday margin for MNQ. In post #3 you stated... "no holds into the next session".
4) At the end of your trade day (or max loss) analyze each trade and BEGIN to perfect your parameters based on actual MAE/MFE etc.
BTW... 40 ticks NET per day is approximately equivalent to the average annual income in the US, IF/WHEN you scale up to 1 MINI-NQ, $200/day.
You're welcome.
Sunday April 7th
Sunday August 11th
Hi Es,
What is it about Elitetrader that brought you back into trading after you announced your departure from trading and from Elitetrader a few months ago ?
wrbtrader
Sunday August 11th
Hi Es,
What is it about Elitetrader that brought you back into trading after you announced your departure from trading and from Elitetrader a few months ago ?
wrbtrader
I have known over 30 guys who never back tested more than a week, have no clue what max drawdowns were over 5 years, they could never understand a bell curve must happen around optimal parameters, cause if just one parameter does well, system will fail and they failed, all of them. Back testing gives a good start whether one is going right direction, and it will give much information if you ask it right questions. But most will not learn how to program or spend some coin hiring some college kids to do it. What I always found to be amusing, people use indicators cause they never learned how to do charting first. I use very few indicators like moving average or Bollinger's, but I use them not as were designed. You can learn divergences if one studies price action, often times they are small breaks of previous pivots, and many never figure out the equations and they make comparisons of wrong pieces of bars/candles. I find oscillators to give one decent signal "Reverse divergence" and can't be picked up on charting.
I do use hedging at times scalping/runners in ES, when a report is due and I don't want to get out of position as it is in the plus, but unlike what most want to think, I am hoping it goes against my position and I am positive hedged, have more than one option per ES contract, so as price going against position, overall position is losing nothing, if a reversing formation develops, I can either take on more ES contracts or put on debit spreads, exit the hedges first applied before it gets to price of the underlying system got in so exit with no loss and yes have done adequate back testing, and best thing it is all automated. This is part of trading that is fun for me as I been playing game very long and overall bore, but new challenges of reducing drawdowns and risk management is my edge now. Many ways to hedge, have to be creative.
Do these micro's have any volume in other month contracts? You can use these to hedge but if volume is bad, entering/exiting might be expensive.
I wish "ES" well, but for reasons I was bad boy towards him one day, I am blocked, and that's fine, am learning to keep some opinions to myself.
Enjoy the day all.
I do use hedging at times scalping/runners in ES, when a report is due and I don't want to get out of position as it is in the plus, but unlike what most want to think, I am hoping it goes against my position and I am positive hedged, have more than one option per ES contract, so as price going against position, overall position is losing nothing, if a reversing formation develops, I can either take on more ES contracts or put on debit spreads, exit the hedges first applied before it gets to price of the underlying system got in so exit with no loss and yes have done adequate back testing, and best thing it is all automated. This is part of trading that is fun for me as I been playing game very long and overall bore, but new challenges of reducing drawdowns and risk management is my edge now. Many ways to hedge, have to be creative.
Do these micro's have any volume in other month contracts? You can use these to hedge but if volume is bad, entering/exiting might be expensive.
I wish "ES" well, but for reasons I was bad boy towards him one day, I am blocked, and that's fine, am learning to keep some opinions to myself.
Enjoy the day all.
I do not believe your question is sincere? Are you a friend? If you really need to know, I can PM you.
Es
08/12/19 Up 44.75 points today at $2.00 per point (179 MNQ ticks at $0.50 per tick). 77.77% WinRate
Es
08/12/19 Up 44.75 points today at $2.00 per point (179 MNQ ticks at $0.50 per tick). 77.77% WinRate
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Is this the twilight zone ?
I've had many interactions with you at this forum. If you openly tell everyone via a public announcement that you're gone...
Seems odd not to ask you why you've return and what is it about this forum that brings you back.
Regardless, I do not know why you made a public announcement to leave but I do remember that announcement because it occurred while I was reading that particular thread you made the announcement within. In fact, I thought it was odd or a joke but then you dissapeared afterwards in whick verified it was true.
Now you've returned nor do I know why you've returned. Thus, something must be going on. Yet, you're not required to give any explanations and I was just curious.
By the way, you've never before asked me if I was a friend and you're now talking strangly (just my opinion).
Hope all is well for you. Good luck.
wrbtrader
My account application is pending. I will not graduate to a Mini for a while. By that time this system will stop working.
I cannot overexpose my account as there is no hedge. My daily loss limit is 7.5%, but in a gap move I can lose more. This is a global setting with my broker (TradoVate) on my Balance not a stop.
When I go live watch for my Journal lord willing.
Good Trading to all of you and Thank You for the tidbits of info that you have shared over the years.
Es
I cannot overexpose my account as there is no hedge. My daily loss limit is 7.5%, but in a gap move I can lose more. This is a global setting with my broker (TradoVate) on my Balance not a stop.
When I go live watch for my Journal lord willing.
Good Trading to all of you and Thank You for the tidbits of info that you have shared over the years.
Es
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What I feel I need to improve upon currently is to trade more. I only trade 45% of the trading days. I need to increase it to at least half of the time.
Es
Es
I am ok wrb...just a little more grateful and humble. Just chalk it up to life experience.
ES
ES
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