You mentioned that your sys makes a good initial profit in the am and then tends to chop till the afternoon when I assume it catches the late day trend and makes another good run at profitability.........is it possible you could have the system pause at some time in the am and then kick back on in the to make the most of the afternoon trend? Just a thought
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Auto trading 1 contract 62K 5 years...
- Thread starter frostengine
- Start date
FrostEngine,
You need to test your ideas on lots of data -- in and out of sample. Tracking performance for a few days like this isn't particularly meaningful from a statistical point of view.
You need to test your ideas on lots of data -- in and out of sample. Tracking performance for a few days like this isn't particularly meaningful from a statistical point of view.
Like clock work its only 10:30 CST and P/L is now -$82
This market is eating my system up.. at least it still performs well early in teh day... that is at least some positive to look forward to:
NQ -$304
ER2 -$474
YM -$168
ES -$31
NQ -$304
ER2 -$474
YM -$168
ES -$31
Quote from alanm:
All this does is limit your profits. Unless there is some fundamental change in whatever your edge is when you have a really good day (unlikely), there is no reason to do this. In fact, above-average returns in a day might mean that your edge is temporarily greater, and you should trade more, not less.
I knew marginally winning, but ultimately unsuccessful poker players that quit the game when they hit a target win. Ultimately, they didn't end up playing enough hours in "good" games to offset the other games in which they had a lesser (or no, or negative) edge.
Excellent point!
Make sure you are there for the homeruns. Getting stopped out day after day could be frustrating but it's ok imho.
Good luck.
At 10:00 CST current P/L is: $547.50
Like clock work its only 10:30 CST and P/L is now -$82
***This market is eating my system up.. at least it still performs well early in teh day... that is at least some positive to look forward to:
NQ -$304
ER2 -$474
YM -$168
ES -$31
Contrary to your previous statement, "the market isn't eating your system up".
It's pretty amazing actually. You've designed the proverbial "money tree" system, but at the same time, "you can't see the forest for the trees!"
and asking a discretionary trader, exceptionally talented though he may be ...
myminitrading,
Do you think we will have a strong finish today? I'm just hoping we dont get one of those last 30 minute sell offs
... is just plain amatuerish.
OK, that's it, you've already solved your problem. It's just that greed thing which won't allow you to implement your solution.
You want ask a profitable trader how he "got there", give this guy a PM:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=69230
He's a very good trader, and a nice guy, and he'll tell you what you need to do, but whether you want to do it or not is entirely up to you.
Best,
Jimmy
P.S. It might "sound harsh", but it's only words, the really harsh part is having a profitable system, but not implmenting it correctly.
Todays results:
System did not hit +700 until end of day, p/l at 10:00 cst was only $220, but finished the day up over 1k
NQ; $76
ES: $176
ER2: $916.40
YM: -24.82
System did not hit +700 until end of day, p/l at 10:00 cst was only $220, but finished the day up over 1k
NQ; $76
ES: $176
ER2: $916.40
YM: -24.82
jimmy,
Thanks for your interest in this thread. 4re's S/R journal is one that I have been following everyday. He is doing some very good stuff over there.
Fear and undercapitalization is what stops me from fully implementing my system. I do not have a bankroll sufficiently large to run my system so i keep tryign to perfect it until its tolerable for my bankroll. I feel i'm getting closer and closer to realizing this "money tree" but still have a long ways to go. The statements to myminitrading was made as although i have this system I still mainly trade discretionairy until ready to run this system. So being that he is a pretty good discretionairy trader I was looking for his input on trades outside of this system.
thanks for contributing to this tread, I enjoy getting input
Thanks for your interest in this thread. 4re's S/R journal is one that I have been following everyday. He is doing some very good stuff over there.
Fear and undercapitalization is what stops me from fully implementing my system. I do not have a bankroll sufficiently large to run my system so i keep tryign to perfect it until its tolerable for my bankroll. I feel i'm getting closer and closer to realizing this "money tree" but still have a long ways to go. The statements to myminitrading was made as although i have this system I still mainly trade discretionairy until ready to run this system. So being that he is a pretty good discretionairy trader I was looking for his input on trades outside of this system.
thanks for contributing to this tread, I enjoy getting input
I've been following your thread, and I have to say good work so far!
I was just wondering what software you use. Is it something like TradeStation, or is it home brewed?
I was just wondering what software you use. Is it something like TradeStation, or is it home brewed?
spdracer,
Its home brewed software. The backtesting engine as well as the real time trading engine was all programmed by me, and is implemented using interactive brokers api.
Its home brewed software. The backtesting engine as well as the real time trading engine was all programmed by me, and is implemented using interactive brokers api.