kserra's emini trades

[PetaDollar]

Quote from kserra:

I like this idea but would have to find uncorrelated markets to trade the system on..... any suggestions ?

Mini-bonds, mini-gold, Mini- R2000, should keep you busy?
Make sure you look at the daddy-contracts/indices for charts/quotes.
As for correlated/uncorrelated... I would just sim trade for a few weeks and see how it goes. A certain value of correlation coefficient may or may not mean a great deal for your trades.

 

[kserra]

Quote from rickty:

kserra,

I've been following your journal on and off since it started (but admittedly not so closely). I've enjoyed it and its been helpful for me.

I'm trying to understand where you're at, at the present time. It appears that you are trying to come up with a number of different systems that are as mechanical as possible (so that discipline can be easily maintained). As I understand it, at this time you are using 3 systems which you had summarized here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=24137&perpage=6&pagenumber=43

This is correct, however currently I am really only working with the 60 min false breakout system that I came up with. Like I said the main problem with this system so far has been that it does not trade enough. I have considered also bringing in a system that trades breakouts with the first 60 minute opening range is extremely tight. The system that involves false breakouts during the lunch period is too discretionary to trade at this point and I have found that the 15 min breakout system hasn't exactly proved to be that profitable, although I may consider to pursue this route in the future.

It appears that you have given up on MA crossover trades with which you had started this journal. And you are presently refining the above systems to try to take into consideration volume.

Has the above been a good summary of where you're at, at the present time?

yup the ma crossover system has officially gone out the window as it provided more discretion than I would have liked, and most likely only looks good in hindsight. That is not to say I did not have my fair share of discipline problems trading the system, but overall it definetly had a lot of faults.

Have you backtested the first system above? It would appear to be an easy thing to do. (If you have some appropriate software and programming ability).

Can I suggest that when you detail your trades that you clearly state which system you're using. (It's just a suggestion). Maybe you can label your systems to help in this regard.

By the way, you mentioned that you are a student. Can I ask what you're studying?

I'm looking forward to following your journal more in the future.

Richard

I am currently a college student majoring in computer information systems, with a minor in business and accounting. So as you can guess I more than have enough programming skills to code up the program. As of late I have been extremely busy with school and other life commitments and have not had the time to spend coding the thing up, but basically I have been lazy as well. I have access to many different software backtesting platforms including wealth lab and tradestation. I am very familiar with wealth lab but it has EXTREMELY big problems with its backtesting functinality and I haven't spent enough time with tradestation to code something up in it.

For now it should be assumed that all trades taken unless otherwise noted are taken off of the 60 minute false breakout system.

I am glad you have enjoyed my journal and have gotten help from it. I know it has certainly served me well in my pursuing of trading prowess.

 

[rickty]

Quote from kserra:

I am very familiar with wealth lab but it has EXTREMELY big problems with its backtesting functinality ...

kserra,
Thanks for clearly up your latest trading approach for me.

By the way, I'm a Wealth-Lab user, so I'd be interested to hear what you believe are the problems with its backtesting functionality.

Richard

 

[porgie]

COMPUTER SKILLS HAVE ABSOLUTELY NOTHING TO DO WITH TRADING THIS STUFF SUCCESSFULLY...MY NEIGHBOR WHO IS A BRILLIANT MAN AND A COMPUTER WHIZ AND PROGRAMMER SAID HE COULD TRADE IT AFTER A FEW MONTHS OF PAPER TRADING...I ASKED HIM TO TRADE 1 CONTRACT FOR A 1 WEEK TEST ONLY AT FIRST IF HIS SYSTEM WAS BEING TRADED HONESTLY AND WAS TESTING PROFITABLE REALTIME......HE LOST $4500 THE FIRST WEEK WITH MULTIPLE CONTRACTS AND YEARS LATER STILL BLAMES ME FOR EXPOSING HIM TO THIS STUFF AND CAUSING HIS LOSS...I DIDN'T TOUCH HIS TRIGGER..HE DID...HE HAD NO SYSTEM, DISCRETIONARY TRADING ONLY AND DIDN'T DO HIS HOMEWORK...YEARS OF WORK LATER AND I THINK I HAVE SCRATCHED THE SURFACE EVER SO SLIGHTLY.. I THINK AVERAGE INTELLIGENCE IS BETTER IN THIS MARKET....I KNOW 2 THINGS FOR CERTAIN....WHEN THE MARKET IS MOVING UP, BUY...DOWN, SELL..SHORT TERM CHARTS CAUSE MUCH PAIN FOR BEGINNERS...SIMPLE PLAN FOR A SIMPLE MAN..... I WISH YOU MUCH SUCCESS...