AutoTrading Micro NQ and ES

I've been in markets since early 2000. I kept a Journal here in 2011 named "Rol's Trading Journal" which somehow made it into the Hall of Fame thread. It was profitable, but also suffered big DD towards end of 2011. I guess I haven't learned much, LOL.

I was also reminded in that journal not to trade too big and have some shorting tools in my arsenal. Watching the ES I'm seeing that often it behaves the same ways certain times of day. This is a work in progress.

SunTrader said:
Sorry to hear but one word your wrote above stands out ... typical.

Exchange that for another word and you will be going in the right direction .... patience.

:thumbsup:
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How's this "Then the Unusual occurred and I tried to make back losses by increasing size"
 
Well I am back within range of new highs. I took another sizable draw down in February, although not as bad as in January because I decreased max position size, and even less in March. Although, a bigger size would have given me increased gains in the most recent bounce.

Current position is short 3 cars of MNQ

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I'm going to start making estimated quarterly tax payments, so I don't get penalized. And may need to make withdrawals from my futures account to pay them in the future.

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traider said:
Why is your drawdown so large? Is there any way to control that?
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Evidently I was trading too big for current market conditions. What I got away with last year hasn’t been as fruitful so far this year. Part of me says to step off the gas now, but another part says the bottom is in.

I am shooting for a 100% return this year. I know 50% drawdowns are baked in if I am going for 100% returns. I do plan to be more cautious. If I can be down 50%, then why not twice that? I have already made adjustments after January and February’s drawdowns to hopefully limit downside.
 
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Back to cash. I think I'll wait till the end of each month to adjust HWM if I am above, to give it chance to be a positive number. I also plan to start tracking my performance verse NQ along with ES, since I trade both.
 
rolan said:
Thanks for the reminder Laissez Faire. Yes the market was forgiving this time. This should be a stark reminder of what can happen.
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This is what you wrote on February 2nd. After sitting through a very deep drawdown for the 2nd time in this journal. Then you did it again a 3rd time.

If history repeats itself you'll do it again and eventually you'll take a very big hit. It seems to me you're rewarded for 'bad behavior' and keep repeating mistakes which potentially can blow up your entire account.

I'd hate to see that happen with such a nice acount.

Thoughts?
 
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