sure, if you want to grind out nickels and pennies with huge leverage, you can trade against the trend and make some money at it. but the old name for this thread was $400K to $4M in a year. why is he going outside his system? he wants more movement and more action. ok, if he wants to take more risk and go for bigger wins, he'll have to buy CRAY, not short it for a 50c pullback.
2014: The Battle for Survival
- Thread starter neke
- Start date
Maybe you are being sarcastic, maybe not. If not, then your words here speak volumes as to where you are menatlly and emotionally and intellectually as a trader right now.
Look at where CRAY's price is right now in relation to its it's opening print and the range of the first 5 minutes or so. Now look at where CRAY's price was on Friday at this same time (it is just after 12:30 PM Eastern Time) in relation to Friday's opening print and the range of the first five minutes or so.
If C > O, then be long or flat, but NOT short. If C < O, be short or flat but NOT long, where "C" is current price and "O" is open or opening range. Simple rule, but not so easy for most to follow. But if you were to train yourself to follow it, you would prevent the majority of your what will otherwise surely be your future catastrophic losing discretionary trades.
Well, I am new into trading... I think Neke is a good trader because he has managed to make a lot of money. All he has to do now is to examine those winning trades & write down exactly what strategies/edges in those trades, follow those written rules exactly and DONT enter the trade until those rules meet.
Also examine bad trades & write down what mistakes in them, AVOID those mistakes.
CRAY has 10% short interest, low trading volumes, it looked very illiquid to me. The stock ran up beyond its fundamental, because of overnight shorts panic to cover & ofcourse new shorts on that day (those who think this CRAY is not worth this run-up=these people also panic & cover) and traders who went long after news...
Anyway, I still think NeKe is a good trader, I have never make that much money
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Also examine bad trades & write down what mistakes in them, AVOID those mistakes.
CRAY has 10% short interest, low trading volumes, it looked very illiquid to me. The stock ran up beyond its fundamental, because of overnight shorts panic to cover & ofcourse new shorts on that day (those who think this CRAY is not worth this run-up=these people also panic & cover) and traders who went long after news...
Anyway, I still think NeKe is a good trader, I have never make that much money
.Since Neke has chosen not to respond to this suggestion and I still believe that this is one of the most practical suggestions given on this thread that can cure his problem, I will re-post. Maybe Neke will see it posted again and see the wisdom.
My personal experience: I was against full automation for full 2 years because I used to think that going 100% auto route will mean that I miss on too many opportunities that my systematic trading and coding cannot capture and especially special situations e.g. BP disaster a year ago etc. However, I realized that "not abiding" to the rules (I had a similar problem like Neke) was costing me a ton more. I was under-performing my system by a huge extent. This convinced me to go full auto route and I have been making more money every since with very limited drawdowns compared to when I was not full auto. Thanks.
Edit: Now, I spend my time testing newer rules, and doing stuff other than trading like going out, exercising, reading new things etc. Makes life more meaningful
paper trade and fine-tune your system (apparently, it hasn't worked consistently).
also promise to oneself is not as powerful as promise to others. you are under great pressure if you don't realize that.
also promise to oneself is not as powerful as promise to others. you are under great pressure if you don't realize that.
Since Neke has chosen not to respond to this suggestion and I still believe that this is one of the most practical suggestions given on this thread that can cure his problem, I will re-post. Maybe Neke will see it posted again and see the wisdom.
My personal experience: I was against full automation for full 2 years because I used to think that going 100% auto route will mean that I miss on too many opportunities that my systematic trading and coding cannot capture and especially special situations e.g. BP disaster a year ago etc. However, I realized that "not abiding" to the rules (I had a similar problem like Neke) was costing me a ton more. I was under-performing my system by a huge extent. This convinced me to go full auto route and I have been making more money every since with very limited drawdowns compared to when I was not full auto. Thanks.
Edit: Now, I spend my time testing newer rules, and doing stuff other than trading like going out, exercising, reading new things etc. Makes life more meaningful
Sorry, I was busy at work and really didn't care much about trading other than watch CRAY add insult to injury by going back to where it belongs - below my average entry price.
I have thought about renting collocated server, but I am not quite sure what it means for the privacy/security of my code and account information, even with porting only object code / bytecode.
Moreover, my personal involvement (off-hours) on a daily basis is essential to the profitability of the strategy. So I cannot really hands off for one week like you mentioned.
But I am still open to that.
better invest a substantial amount for that , ... how you would react and feel should your years of hardwork was simply copied and tripped and used without you knowing or having access to others using your know-how in trading ?
I don't have a co-located server myself because of the same security considerations. But I definitely needed to control over-trading etc. So, what I did - I set up a computer in a room in my house. Room remains open only during the weekend. Sunday evening (since I trade globex) and room gets locked. Please don't think that I don't have access to key anymore. I just hang the key in my bedroom. To control the urge that I don't go and open that server room, I have made a register where I enter whenever I open the room during the weekend and write down the reasons to open the room. It is just a very simple control system that is employed by all physical premises - that is - similar to the way they keep a check and record of all the people entering and exiting.
Such a setup has worked beautifully for me for almost a year and there is no security risk of your code getting stolen in this setup.
You might want to make some amends to this setup to suit your individual situation, however I hope that this will help you as a good starting point.