no I am not down $1745... the market took about $1200 of my $1536 unrealized from last week from me this week so far. If I had close all my position on last Friday then it would have been a true DD but since it is a UPL then I have a chance to make it back in 2 days because I still have a position open. I am speculating I will have some type of DD this week though. I am crossing my finger that I'll be getting some good signal on Thursday and Friday so I can be flat for the week.
magic journal of doom
- Thread starter magicz
- Start date
oh yes...i've heard of this strategy....they call it the "buy and pray" method. Im going to quote what you wrote to me on my journal because it helped me a bit so i will return the favor. 
. Sometimes my losses would triple my winner just because I think it will reverse course.
Someone once told me when your stock is losing to just get rid of it and find another stock to trade...theres lots of opportunities every day and you cant trade when you tie up your capital in one stock.
. Sometimes my losses would triple my winner just because I think it will reverse course.
Someone once told me when your stock is losing to just get rid of it and find another stock to trade...theres lots of opportunities every day and you cant trade when you tie up your capital in one stock.
Peil,
again I think you miss read.... it was the unrealized profit was given back...I didn't have an unrealized loss...
while your advice is good, it doesn't apply to this situation. let me explain again. I had about $1500 unrealized profit last friday then on Monday,Tuesday, Wednesday of this week, this unrealized profit dwindle to about $300. Which is still a profit but down from $1500. No where did I state that I have accumulate an unlrealized loss, if I did then of course your advice would be sound....
by the way
Sold short 1000 GLBL@12.22
cover 1000 GLBL@12.33...net -$120
Sold Short 1000 SSTI@5.79
cover 1000 SSTI@5.89....net -$100
sold to close 1500 VISG@5.43....net $645
not a good day for shorting as you can tell.....
again I think you miss read.... it was the unrealized profit was given back...I didn't have an unrealized loss...
while your advice is good, it doesn't apply to this situation. let me explain again. I had about $1500 unrealized profit last friday then on Monday,Tuesday, Wednesday of this week, this unrealized profit dwindle to about $300. Which is still a profit but down from $1500. No where did I state that I have accumulate an unlrealized loss, if I did then of course your advice would be sound....
by the way
Sold short 1000 GLBL@12.22
cover 1000 GLBL@12.33...net -$120
Sold Short 1000 SSTI@5.79
cover 1000 SSTI@5.89....net -$100
sold to close 1500 VISG@5.43....net $645
not a good day for shorting as you can tell.....
ah yes...i did misread that then.
granville,
It's a market nuetral system so I expect the system to perform in all market condition. I will take on long or short position depending on the signal it gives me. I backtested with data from 1990-2005, so I am fairly confident that it will perform during a bear market as well as a bull market. Of course, the ultimate test is when we are actually in a bear market. So with only less then 1 month of live data, I can't really tell you if it works in a bull market or a bear or a sideway market but the result so far are promising.
I am not too thrill about the result until we hit the 6 month mark because any upside now could just be noise. I am hoping for the best though.
It's a market nuetral system so I expect the system to perform in all market condition. I will take on long or short position depending on the signal it gives me. I backtested with data from 1990-2005, so I am fairly confident that it will perform during a bear market as well as a bull market. Of course, the ultimate test is when we are actually in a bear market. So with only less then 1 month of live data, I can't really tell you if it works in a bull market or a bear or a sideway market but the result so far are promising.
I am not too thrill about the result until we hit the 6 month mark because any upside now could just be noise. I am hoping for the best though.
WEEK 3 REPORT
Total shares traded = 26,000
Total fees = -$158
Total Realized P/L = $571
Total Unrealized P/L = $0
Total P/L = $571
Percent of Change from last week = -3.4%
Percent of Change from starting capital (21K) = -4.2%
Cumulative return is = 19%
Week 1 = 23725
Week 2 = 25860
Week 3 = 24982
This week we see a draw down as anticipated, the first 3 days of the week was brutal. I saw 2/3 of my unrealized profit from last week evaporated. I did recover some but had a bad trading day on Thursday that took a toll on the week. I ended up the week with a realized profit but with a total draw down from the unrealized profit I had on the previous week. I am still happy I was able to take 1/3 of the UPL $1536 from last week.
My goals for this week are to maintain discipline that I didnât do last week, take signal as it appears, and give as much attention to this account as my other account during the day.
Total shares traded = 26,000
Total fees = -$158
Total Realized P/L = $571
Total Unrealized P/L = $0
Total P/L = $571
Percent of Change from last week = -3.4%
Percent of Change from starting capital (21K) = -4.2%
Cumulative return is = 19%
Week 1 = 23725
Week 2 = 25860
Week 3 = 24982
This week we see a draw down as anticipated, the first 3 days of the week was brutal. I saw 2/3 of my unrealized profit from last week evaporated. I did recover some but had a bad trading day on Thursday that took a toll on the week. I ended up the week with a realized profit but with a total draw down from the unrealized profit I had on the previous week. I am still happy I was able to take 1/3 of the UPL $1536 from last week.
My goals for this week are to maintain discipline that I didnât do last week, take signal as it appears, and give as much attention to this account as my other account during the day.
no trades today. not that I didn't get any signal. I didn't even turn on my screens for this system. I was busy planning my trips and looking at my other account.
This is the last week of trading before time off for the holidays, I'll be in Dallas next week, Trenton the week after and las vegas around 12/24-12/28. I'll probably won't be trading during those time or trade seldomly.
This is the last week of trading before time off for the holidays, I'll be in Dallas next week, Trenton the week after and las vegas around 12/24-12/28. I'll probably won't be trading during those time or trade seldomly.