AutoTrading Micro NQ and ES
- Thread starter rolan
- Start date
They do not need a lot of buying power to enter and exit the trades during the day. The pain comes from the holding, where the maintenance bonds come into play. Ug.
In the spirit of sharing I don’t want to be a naysayer. but after reading all your post carefully I think this is not a automated trading system it is a discretionary trading system with a automated long only entry bot. and this will lead to blow up off your account someday in the future just as your way of trading long only and Overriding your own system.
Here are my current standings after market rebound. I added a couple fields to show my current draw down below my High Water Mark in $$ and %. Tradestation will recalculate my average price (to my disadvantage) sometime after midnight if I hold a position overnight, so I am not actually down by that much. Although at one time I was down 60K.
At first I though TS was ripping me off, but the Account Equity remains accurate. I actually have used the new average price paid as my exit target and it has worked a few times!
I started scaling out a bit to reduce my size towards the close today, taking some losses. I am grateful I didn’t blow up, so I need to remind myself not to overleverage.
Strategy opened a treasury futures hedge, so will see how that turns out.
Hi, I won’t deny that my exits and even entries are changed by me at times. I often try to guess where the market is headed and resize my trades accordingly. The automation is for execution, since I can’t monitor markets closely due to job(s). The automation is also to hopefully keep me from going full-tilt by providing some structure.
Sure, there are going to be draw downs, and losing months every so often. It just comes with the territory. A total account blow up will hopefully become less likely as my account balance increases. I want to see what I can do year over year, compounding along the way.
The only way your account balance is going to increase is if you occasionally close the profitable positions! ACK!
You have like 10 points profit on the ES trade, book the profits now, look for new entry later!
I am victim to the same "hold disease". I hold the swings down, but never know when to get out when in profit. I am slowly learning how to get out with reasonable profits after unreasonable holds. I think you can also.