ES Journal Archive (2006 - 2008)

[Buy1Sell2]

Quote from illiquid:

Dude, didn't you start a whole thread dismissing the idea of intraday trading as an unworthy (yet somehow profitable) endeavor? It seems like what is getting in the way here is systemized preservation of ego. Instead trade to win, don't trade not to lose.

No offense, I'm just saying, by what you seem to be advising here, it's no wonder you don't eat your own cooking . . .

System works in any timeframe.

 

[Buy1Sell2]

Journal to date daytrading and short term results:

152 trades

81 winners 71 losers 53.28 %

Total profit including commissions=
$65,723.72

 

[ryank]

Quote from Buy1Sell2:

I have read some of the posts here and would like to respond to one ongoing debate. That is whether or not Romik is trading a self destructive system. Romik's trading the whipsaws until he finds a winner is just fine. The key to that system is to stop out very quickly so that the losses are small even when size has been increased. What he is doing is not a Martingale. A Martingale involves reaping a reward that is equal to the losses while doubling size each time. That is not what romik is doing. He is taking a larger profit than the losses when the winner comes in and not doubling. He is correct--it is virtually impossible to lose. What gets in the way of the system, as I have mentioned to him before, is the human mind. The human trader gets frustrated and goes off the system and then doesn't take the next trade. The next trade ends up being the big winner. Keep the losses small Romik and you're fine.

Elbow is advocating a longer time frame for Romik to trade, i.e. fewer signals. Shorter time frames will give you more signals but smaller losses (on a given trade) when you are wrong while longer time frames give you fewer signals but larger losses when you are wrong (on a given trade) correct? I see how Romik is bumping up his $ p/p after a losing trade and coming out ahead, I agree, difficult to lose over time. I'm just wondering if the longer time frames require larger trading accounts to withstand the drawdowns.

 

[Buy1Sell2]

Quote from ryank:

Elbow is advocating a longer time frame for Romik to trade, i.e. fewer signals. Shorter time frames will give you more signals but smaller losses (on a given trade) when you are wrong while longer time frames give you fewer signals but larger losses when you are wrong (on a given trade) correct? I see how Romik is bumping up his $ p/p after a losing trade and coming out ahead, I agree, difficult to lose over time. I'm just wondering if the longer time frames require larger trading accounts to withstand the drawdowns.

certainly

 

[illiquid]

Quote from Buy1Sell2:

System works in any timeframe.

You know this after experimenting (your word) with a small fraction of your total funds for less than a year, and having the ability to offset decisions/results against your bread-and-butter position trading? Would you put your entire trading account into this method, and recommend other traders do the same? How can you verify others will have the same results, given that position size depends upon prior losing trades?

 

[illiquid]

Quote from Buy1Sell2:

Total profit including commissions=
$65,723.72

Did you actually segregate funds into a separate account to execute these trades, or did you have access to your entire position trading BP? What was the largest position size taken over the course of the experiment, if you don't mind revealing?

Don't mean to be a pest, just questions anyone would likely ask.

 

[Buy1Sell2]

Quote from illiquid:

You know this after experimenting (your word) with a small fraction of your total funds for less than a year, and having the ability to offset decisions/results against your bread-and-butter position trading? Would you put your entire trading account into this method, and recommend other traders do the same? How can you verify others will have the same results, given that position size depends upon prior losing trades?

My experiment with this system was with day/short term trading. I tried it years ago with position trading. The result was the same.== Though profitable, it was not as profitable as my divergence/grail system, which is virtually impossible to lose over time either. I recommend my divergence/grail system as being superior to the whipsaw system.

 

[Buy1Sell2]

Quote from illiquid:

Did you actually segregate funds into a separate account to execute these trades, or did you have access to your entire position trading BP? What was the largest position size taken over the course of the experiment, if you don't mind revealing?

Don't mean to be a pest, just questions anyone would likely ask.

All funds are in the same account. I prefer not to reveal the full size of the positions that I take. These results are on one unit=one contract. It is, of course, higher than that.

 

[illiquid]

Quote from Buy1Sell2:

All funds are in the same account. I prefer not to reveal the full size of the positions that I take. These results are on one unit=one contract. It is, of course, higher than that.

I understand. However, any dollar amount posted means very little if you cannot know how many contracts it may have taken to achieve that return -- especially if we are talking about pyramiding SAR's. Can you at least reveal the ratio between the largest and smallest position size? Is it, say 5:1? 10:1? More than that?

Would you also say that underneath everything this is a discretionary system, based on your own personal ability and experience in reading the market, most importantly your entries and reverse points/exits?

 

[Buy1Sell2]

Quote from illiquid:

I understand. However, any dollar amount posted means very little if you cannot know how many contracts it may have taken to achieve that return -- especially if we are talking about pyramiding SAR's. Can you at least reveal the ratio between the largest and smallest position size? Is it, say 5:1? 10:1? More than that?

Would you also say that underneath everything this is a discretionary system, based on your own personal ability and experience in reading the market, most importantly your entries and reverse points/exits?

Different contract amounts at different times. I would have to go back and look but, I would say it was not more than 8 or 10 at one time. --and that would be rare. It was always starting with one contract. Keep in mind, I only had about 2 weeks with the reversal experiment. The bulk of the trading was initially with "probes" and then the longer frame divergence grail method. Very little was with the SAR's, I need to point out that SAR were not the parabolic SAR's.
As far as discretionary, no. Discretionary is somebody trading without charts and simply acting on tips or things they hear in the news or things they feel. --example--"This new Cherry Pepsi is really good. I'm going to buy Pepsi stock." that's discretionary--My system is based upon indicators and price action. That is not discretionary.