A trading contest..........
- Thread starter bighog
- Start date
I know a trader that compounds but only trades the short side for this particulal reason, takes a lot of patience during days where shorting is not the right call though as you must sit it out.
Let's assume using a system with a P/F of 2, at 50% win-rate, for 35-ticks win / 17-ticks loss. Expectancy is 35/2-17/2 = 9-ticks per contract per trade (ignoring commissions & slippage).
Using $10 as tick-value, it takes trading a total of 47 contracts per day to reach the goal (47*90 = 4230). Given that we are limited to 4 cars / trade in this 35-ticks target category, this is going to take 12 trades per day, either 3 trades x 4 instruments, or 4 trades x 3 instruments.
When using 4 instruments, and no overlapping trades in the same instrument, we'll have a max. number of 16 contracts in open positions at once, which translates into finding a broker allowing for RTH margin of $1000 per contract or less to stay withing the 25K limit of the account (on a very bad day, 100% losses, the total loss for the day would be 17-ticks * $10 * 48 = -8,160, which on a 25K account is compatible with having 16 contracts open using 1K margin or less per contract - but that requires reloading the account overnight to keep trading beyond the 1st trade the next day).
The main challenge remains in designing the trading system that will meet or exceed the performance parameters assumed in the 1st paragraph, for 240 (days/year) * 3 (trades/day) * 4 (instruments) = 2880 trades per year.
Using $10 as tick-value, it takes trading a total of 47 contracts per day to reach the goal (47*90 = 4230). Given that we are limited to 4 cars / trade in this 35-ticks target category, this is going to take 12 trades per day, either 3 trades x 4 instruments, or 4 trades x 3 instruments.
When using 4 instruments, and no overlapping trades in the same instrument, we'll have a max. number of 16 contracts in open positions at once, which translates into finding a broker allowing for RTH margin of $1000 per contract or less to stay withing the 25K limit of the account (on a very bad day, 100% losses, the total loss for the day would be 17-ticks * $10 * 48 = -8,160, which on a 25K account is compatible with having 16 contracts open using 1K margin or less per contract - but that requires reloading the account overnight to keep trading beyond the 1st trade the next day).
The main challenge remains in designing the trading system that will meet or exceed the performance parameters assumed in the 1st paragraph, for 240 (days/year) * 3 (trades/day) * 4 (instruments) = 2880 trades per year.
I cetainly do not want to set up any confusion about dong the contest by stepping outside of the prescribed rules.
As I said I am not good at doing contests.
For me , I abide by the dictates of the market and follow the operating system of the mrket.
I have 5 beginners who set up an office in the last few weeks.
So far they have assembled the furniture, bought the computers.
added the wall screen and white board.
drilled the holes in the huge table we sit around.
wired all the computers so any one can be projected on the wall screen.
We take snapshots of the white board and print snagits of the market chart.
Logging is done using the lookup's previously posted.
Our trading constraint is to start with the minimum capital and compound profits and remove the inital capital after the initial doubling.
Last Friday, the group of five would have made, collectively the required "take" to consistantly make 1/240th of 1 million (This was their second day of logging as you see on their posted log.)
Our process is to:
1. compound profits since it is risk free.
2. Use price cases to have permission to measure volume the independent variable.
3. measure volume using a three stage test procedure.
4. monitor and analyze the unfolding trend in volume.
5. detect End Effects of trends.
6. determine the next to last (n - 1) End Effect on the trading fractal (not to be confused with the TF of the chart which is mathematically different and trivial).
7. repeat 2 through 5 to find the last End Effect on the correct type trend (1 of 4 types) and look up if the turn is a "c turn", (Thus, proving it is the profit taking time on the end of a trading fractal trend).
8 carve the c turn at an intrabar extreme by doing a reversal once 7. has locked in.
9. fill in the P&L sheet at the end of trading.
10. complete the carryover analysis so that on the next day an entry can be made between 12 ans 36 seconds of open on bar 1.
During the day the group combines their annotated chat with their log and their journalling. they insert copies of snagits and prints of snapshots of the white board. These are punched and put into a reverse chron 3-ring binder. A second binder has all the aobve stuff in it for reference. they are doubling their speed of monitoring and analysis daily by the nature of doing each bar in the same routine over and over. This is the "secret" of becoming an expert trader in less than 20 days.
Since I trade on an MAT setup, I added one of the room owner's accounts to my MAT as a way of deferring all the operating costs and the intial capitalization of the teams accounts. My MT accounts are running well above the capital and buying power shown on prints a while back.
Besides doing SCT during rth, they do a weekly batting order for four streams of capital in trading the PVT. Their written guide is "Putting the pieces Together" They use stocktables.com to do the seven part filter to get a Uninverse of about 100 stocks each stock is processed on the IAS to add data to an Excel of the Universe. From that, the batting order is determined weekly.
As the OP said he has an approach that will work under the specifications he feels work for a trader. He has reasons for each specification. I feel this thread will be much more coherent with me NOT posting here. I only responded because I felt he had offered an open invitation. Since he commented to me, I have added some facts since I did not know that ET was not capable of doing the search I suggested.
As I said I am not good at doing contests.
For me , I abide by the dictates of the market and follow the operating system of the mrket.
I have 5 beginners who set up an office in the last few weeks.
So far they have assembled the furniture, bought the computers.
added the wall screen and white board.
drilled the holes in the huge table we sit around.
wired all the computers so any one can be projected on the wall screen.
We take snapshots of the white board and print snagits of the market chart.
Logging is done using the lookup's previously posted.
Our trading constraint is to start with the minimum capital and compound profits and remove the inital capital after the initial doubling.
Last Friday, the group of five would have made, collectively the required "take" to consistantly make 1/240th of 1 million (This was their second day of logging as you see on their posted log.)
Our process is to:
1. compound profits since it is risk free.
2. Use price cases to have permission to measure volume the independent variable.
3. measure volume using a three stage test procedure.
4. monitor and analyze the unfolding trend in volume.
5. detect End Effects of trends.
6. determine the next to last (n - 1) End Effect on the trading fractal (not to be confused with the TF of the chart which is mathematically different and trivial).
7. repeat 2 through 5 to find the last End Effect on the correct type trend (1 of 4 types) and look up if the turn is a "c turn", (Thus, proving it is the profit taking time on the end of a trading fractal trend).
8 carve the c turn at an intrabar extreme by doing a reversal once 7. has locked in.
9. fill in the P&L sheet at the end of trading.
10. complete the carryover analysis so that on the next day an entry can be made between 12 ans 36 seconds of open on bar 1.
During the day the group combines their annotated chat with their log and their journalling. they insert copies of snagits and prints of snapshots of the white board. These are punched and put into a reverse chron 3-ring binder. A second binder has all the aobve stuff in it for reference. they are doubling their speed of monitoring and analysis daily by the nature of doing each bar in the same routine over and over. This is the "secret" of becoming an expert trader in less than 20 days.
Since I trade on an MAT setup, I added one of the room owner's accounts to my MAT as a way of deferring all the operating costs and the intial capitalization of the teams accounts. My MT accounts are running well above the capital and buying power shown on prints a while back.
Besides doing SCT during rth, they do a weekly batting order for four streams of capital in trading the PVT. Their written guide is "Putting the pieces Together" They use stocktables.com to do the seven part filter to get a Uninverse of about 100 stocks each stock is processed on the IAS to add data to an Excel of the Universe. From that, the batting order is determined weekly.
As the OP said he has an approach that will work under the specifications he feels work for a trader. He has reasons for each specification. I feel this thread will be much more coherent with me NOT posting here. I only responded because I felt he had offered an open invitation. Since he commented to me, I have added some facts since I did not know that ET was not capable of doing the search I suggested.
Yeah,publicly documented results would be a problem in your case.Still,looking on the positive side,at least it frees up your time to help the government solve some of the very serious issues the planet faces....like the chronic shortage of Crayola in the infant school system.
I am not going to participate in this thread for the reasons I stated. I do know the Biddle family in Greenwich, however.
Four prints will appear Two per page pasted on blue poster papaer. I suppose you were too dumb or to lazy to find these when they were posted in their originally appearing thread.
Check Pekelo's and others dumbass comments that explain they cannot read the prints. Neither could the moderator understand their fucked up misjudgements.
"more coherent"....
Since when did that ever bother you?Friday close after settlement.
And Monday opening trade results
And Monday opening trade results
the next open and the trade results.
That's ok jack...I suppose you're completely mad based on the millions of words of insane drivel you've written over the years.Whereas you suppose i'm dumb and lazy......based on what? My inability to recognize your genius?