Now that starts to itch...;-) left the fastest remaining 50pip move on the table. But I decided to rest it for the time being, but clearly short covering is setting in with eur up 0.8%, cable flat, aussie up 0.3%.
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FX short to mid-range frequency discretionary trading
- Thread starter amazingIndustry
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Our little friend has been sending me PMs gloating about finally hitting a winner, so I thought I'd share my recent FX results as AI seems so concerned about my well-being:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=243567
4/4. 265 pips. Profit factor >10.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=243567
4/4. 265 pips. Profit factor >10.
thank you atticus, but I am glad you have your own thread, keep the good work up. I do mine. Thanks.
Quote from atticus:
Our little friend has been sending me PMs gloating about finally hitting a winner, so I thought I'd share my recent FX results as AI seems so concerned about my well-being:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=243567
4/4. 265 pips. Profit factor >10.
Very slow day on the currency front. Currently it does not look like as if we can a firework in either direction. Keyword: Greek elections. Risk reduction. It seems that Greece's Syriza party is losing a little momentum here, hence strong buying at Athens' stock exchange. Yet, Eurostoxx futures as well as Dax futures trade only slightly down right before US market open.
I am pretty certain that the 1.2450-1.2660 band will hold into the weekend. I currently do not spot any value trades thus all that remains to be done is wait.
I am pretty certain that the 1.2450-1.2660 band will hold into the weekend. I currently do not spot any value trades thus all that remains to be done is wait.
A very dull session, I do not think I will get engaged anymore today, I squared my positions and go flat into the weekend (so far), gap risk this weekend will be especially elevated and the first three days of the upcoming week will be peppered with lots of market impacting events.
This past week has been of average performance, judging from my performance before I started the thread. 50 pips average per trade is about what I shoot for and achieved. I was lucky on one trade where the market rebounded 3 pips away from my stop, felt the heat when I kept attempting buys down to 1.2450 levels and nailed the low eventually 3 pips away and subsequently hit my profit targets. I am not in the business of hunting tops and bottoms but I had a strong conviction, short sell interest was on my side, European yield spreads had already blown out and I saw limited downside and was eventually proven right.
Please keep in mind this is my discretionary book, I run at completely different risk metrics in my systematic trading book. Current daily loss limits constitute about 3-5% of my discretionary book which may be a little high for some, definitely too high when running outside AUM but those are my funds and the smaller portion of my total invested funds. The other portion along with outside funding is being put at work in my systematic strategies. Thus, I have no issue to take the occasional larger bet given I see a justified risk/reward.
In summary, an average week for me.
This past week has been of average performance, judging from my performance before I started the thread. 50 pips average per trade is about what I shoot for and achieved. I was lucky on one trade where the market rebounded 3 pips away from my stop, felt the heat when I kept attempting buys down to 1.2450 levels and nailed the low eventually 3 pips away and subsequently hit my profit targets. I am not in the business of hunting tops and bottoms but I had a strong conviction, short sell interest was on my side, European yield spreads had already blown out and I saw limited downside and was eventually proven right.
Please keep in mind this is my discretionary book, I run at completely different risk metrics in my systematic trading book. Current daily loss limits constitute about 3-5% of my discretionary book which may be a little high for some, definitely too high when running outside AUM but those are my funds and the smaller portion of my total invested funds. The other portion along with outside funding is being put at work in my systematic strategies. Thus, I have no issue to take the occasional larger bet given I see a justified risk/reward.
In summary, an average week for me.
Quote from amazingIndustry:
I am very dull ...
Please keep in mind this is my discretionary book, I run at completely different risk metrics in my systematic trading book. Current daily loss limits constitute about 3-5% of my discretionary book which may be a little high for some, definitely too high when running outside AUM but those are my funds and the smaller portion of my total invested funds. In summary, an average week for me.
Looks like you are trying to get some investors to leave money with you. Or you are looking for a job or trying to sell something.
I sell nothing, nor do I want any investors, thanks for asking. Feel free to follow the thread, you will never ever find me paddling anything. Hold me up to it in case you find anything to the contrary.
The thread is for myself and to stir up debate, suggestions, but most above all to share trading ideas and market views. Do you have anything to contribute? Any views on fx markets, macro news, greek elections?
P.S.: Please refrain from changing the text you quote that was written by others, its very unprofessional to say the least.
The thread is for myself and to stir up debate, suggestions, but most above all to share trading ideas and market views. Do you have anything to contribute? Any views on fx markets, macro news, greek elections?
P.S.: Please refrain from changing the text you quote that was written by others, its very unprofessional to say the least.
Quote from Macho:
Looks like you are trying to get some investors to leave money with you. Or you are looking for a job or trying to sell something.
I run a systematic trading foreign exchange fund full-time. Discretionary trades are an-aside and the aim is to hold discretionary positions longer than just hours. It does not mean I never trade out of positions minutes or hours later if I do not like subsequent price action or headlines hit the tape that clearly reverse flow against my position.
I spend about 30% of my time researching and profiling new strategy ideas, 20-30% programming to implement strategies and to expand my whole testing environment and trading platform, 20% to talk to other traders, friends, quants, sometimes brokers about connectivity, and the remaining time to do admin work re the fund and its investors.
P.S.: One reason I set forth some discussion guidelines in this thread was for the precise reason to not waste hours with people full of negativity, trolls, and especially people who delight in constant piss contents/bets/competitions. I compete enough in the market every day I have no motivation to have to measure myself over the net with other anonymous creatures who can say whatever they want without the slightest backup in the same way than I make claims here and do not expect anyone to believe me if they chose not to. I wish to soon engage with people who have a positive mindset and exchange ideas about currency markets, CB activity, programming and profiling techniques, and the like. Please feel free to contribute as well.
I spend about 30% of my time researching and profiling new strategy ideas, 20-30% programming to implement strategies and to expand my whole testing environment and trading platform, 20% to talk to other traders, friends, quants, sometimes brokers about connectivity, and the remaining time to do admin work re the fund and its investors.
P.S.: One reason I set forth some discussion guidelines in this thread was for the precise reason to not waste hours with people full of negativity, trolls, and especially people who delight in constant piss contents/bets/competitions. I compete enough in the market every day I have no motivation to have to measure myself over the net with other anonymous creatures who can say whatever they want without the slightest backup in the same way than I make claims here and do not expect anyone to believe me if they chose not to. I wish to soon engage with people who have a positive mindset and exchange ideas about currency markets, CB activity, programming and profiling techniques, and the like. Please feel free to contribute as well.
Quote from dazzwater:
Question: do you have a full time job, or are you doing your discretionary trading full-time through US market hours?
Just wondering, if you are employed, how you find time to do your research, trade, and also update this thread.
Thanks for the reply.
Regarding income, I suppose your fund is doing quite well, and you make regular withdrawals for your monthly expenditures?
Regarding income, I suppose your fund is doing quite well, and you make regular withdrawals for your monthly expenditures?
Quote from amazingIndustry:
I run a systematic trading foreign exchange fund full-time. Discretionary trades are an-aside and the aim is to hold discretionary positions longer than just hours. It does not mean I never trade out of positions minutes or hours later if I do not like subsequent price action or headlines hit the tape that clearly reverse flow against my position.
I spend about 30% of my time researching and profiling new strategy ideas, 20-30% programming to implement strategies and to expand my whole testing environment and trading platform, 20% to talk to other traders, friends, quants, sometimes brokers about connectivity, and the remaining time to do admin work re the fund and its investors.
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