AutoTrading Micro NQ and ES

NoahA said:
Out of curiosity, can you post a chart with your entries? I see the average entry price is 15,681, which is right around the price of the open. Did you start higher up and just scaled in as it went lower after the open? Of were you expecting a bounce today and hence started scaling in as it was dropping from the open?

I gotta compliment you on having the balls to carry such a position. Whenever I trade SIM, I can always be profitable by adding heavily as the position goes against me, or switching sides sometimes, and then adding heavily again. But what starts out as a 1 contract position turns into 40 or 50 contracts like what you have now. I could of course never trade like this live, but its so freeing to not care about micro movements and just add heavily when you think you got the direction right.
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Hi NoahA, I think you have the gist of what I do. I was expecting a turn around at the open, as I have noticed that happening frequently. I had a fat finger moment though where I bought 55 MNQ contracts instead of 5. Luckily, it went immediately in my favor, so I held. I still took a 9K loss on the day, as the strat exited the 77 MNQ long position. I am currently getting back in, per strategy.
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Looking at the daily chart, I'm seeing a test of support at 15600 that held. Also a decent oversold zone by my estimation. I might try to hold this a for a longer term swing trade.
 
For AutoTrading your strategy does seem very discretionary. What you think shouldn't have any influence on your trading strategy - except for when you design it.

I was expecting a turn around at the open, as I have noticed that happening frequently...

I might try to hold this a for a longer term swing trade...
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The long term trend does appear to still be up, but from my perspective we're still in pullback mode and may be good for some more downside still.
 
Thanks heispark, I glanced it over, but will give it a thorough read when time permits.
Yeah 112 MNQ contracts was over doing it. I took a 100k drawdown.

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I read the "Joining the cme gang journal", and looks like he blew up twice after steady run ups. I can see that happening to me if I don’t restrict contracts. If I blow up, I know it would be because I traded outside strategy. I actually feel like I did blow up recently with my 100K intraday draw down, though I did manage to close out profitable.

He was using more leverage than I am on a regular basis. I feel my edge now is my account size, and also time. If things really went sour for me, I wouldn’t shut down and walk away. I would just ride it out, even if it took years. Luckily, it has only taken days for me to recover from drawdowns). Everyone knows markets have an upward bias.

I was actually disappointed after Covid first hit when markets recovered steadily to new highs throughout the remainder of 2020. I wanted to benefit while stocks were on sale, by maxing out my 403b contributions (which I still did).

I am reintroducing, a feature to my futures strategy, that trades off daily data, in addition to intraday I currently use. It waits for big market drops before entering. It is how I auto trade my Roth IRA using TQQQ, UPRO, UDOW, and TNA. This should hopefully keep me from going full tilt like I just did with 112 MNQ contracts.

Basically, the relatively small size to account size intraday trading is designed to just keeps me occupied while I wait patiently for big drops to occur. I am fairly consistent with being a day early nailing short term bottoms and exiting a day too early on the bounce. I want to improve on that.

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rolan said:
I read the "Joining the cme gang journal", and looks like he blew up twice after steady run ups. I can see that happening to me if I don’t restrict contracts. If I blow up, I know it would be because I traded outside strategy. I actually feel like I did blow up recently with my 100K intraday draw down, though I did manage to close out profitable.
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Yeah. I thought the same.

I assume you didn't have a stop as you took a 100K unrealized drawdown. The market could easily have dropped enough that you were margin called, so consider yourself lucky. It's happened multiple times these last 5 years.

Large stops - > smaller size.

Big size - > smaller stops.

Big size + large stops = eventual blow-up. :)
 
rolan said:
I feel my edge now is my account size, and also time. If things really went sour for me, I wouldn’t shut down and walk away. I would just ride it out, even if it took years.
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Amen to that, that is position trade, luckily you have a large account.
 
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