Systems Trader turned discretionary

good trading to you bvam1

the sky can fall at anytime...in trading any instrument or method. we must learn to accept this risk and deal with it. There are never any guarantees in any market...We as traders do not base our decisions on catastrophic instances or we would not trade at all...

I can define infinity for you though...but that is for another thread and another time...hint: a currency can only go to zero and if your marketmaker guarantees that you can never have a negative balance in writing, then leverage cannot present any risk to you, once you have reached BE on long pairs.

Michael B.
 
I am having trouble to find my scalp trades. I had 5 of them Sunday Evening and only one this AM.

I project that after interest is paid today I will be around 0.08%, unless I can find some more scalps...I do not want to push it....

I haven't made any execution errors....yet

Michael B.
 
Can't find any scalps (only three so far)...so I just will need to let the carry make the money for these times...I bumped up the leverage to 4.46:1, by opening up some scalp targets and forcing them to become carry's, so the interest earned will be higher...Drawdown is at -2.41%....no fear

I have noticed that my "high probability scalps" come at anytime and it seems that there is not much competition at the time I am putting them on...there can be a lot of volatility sometimes and sometimes not...so does this mean that I am not traditional?

The late Jesse Livermore (my hero and I still get emotional when reading his book) would test the market by entering....I am observing no consistency...yet

Michael B.
 
i just missed a scalp...cause I was writing here! It worked immediately...(I will add this one to my Journal as I keep track of which instruments respond and how fast... to my methods)

Traders are you keeping Journals? or is this scalping just a video game?

You can take discretionary out of the Systems Trader, but you can't take the system out of the discretionary trader! :)

Michael B.
 
How many of you discretionary traders have several moves on at once?...I tried two of them at the same time and had no trouble, but I do scale and it can get hectic...

Am I gettin' too old for this?

Michael B.

P.S. I literally fight to keep my mind nimble...
 
I was reviewing my Journal and you know what?

CAD/JPY led EUR/JPY in a little up move...

I have noticed that one pair might lead another pair...but then the next day it is gone!

With 33 pair to watch and observe there is never ending possibilities...I do not scalp this way but am thinking about adding this to my arsenal...or at least watch it for a while and see how fast I can discover who is leading who?

Should I not be posting this? It will be hard to kill all of you :)

Michael B.
 
I am quoting myself...hehe...

I have imagined that getting all the realative strengths together from a basket of yen for example....and developing a leading indicator from them could be time well spent...

Michael B.



Quote from ElectricSavant:

i just missed a scalp...cause I was writing here! It worked immediately...(I will add this one to my Journal as I keep track of which instruments respond and how fast... to my methods)

Traders are you keeping Journals? or is this scalping just a video game?

You can take discretionary out of the Systems Trader, but you can't take the system out of the discretionary trader! :)

Michael B.
More...
 
Can't find any scalps (only three so far)...so I just will need to let the carry make the money for these times...I bumped up the leverage to 4.46:1, by opening up some scalp targets and forcing them to become carry's, so the interest earned will be higher...Drawdown is at -2.41%....no fear


2.41 % of capital

Low risk?
 
I do not undestand ....This drawdown is a carry of positive interest differentials. I have recently added scalping to introduce pairs to the basket. This is not Futures or Equities...coolweb, could you ask a question or make a clearer comment?

Michael B.



Quote from coolweb:

Can't find any scalps (only three so far)...so I just will need to let the carry make the money for these times...I bumped up the leverage to 4.46:1, by opening up some scalp targets and forcing them to become carry's, so the interest earned will be higher...Drawdown is at -2.41%....no fear


2.41 % of capital

Low risk?
More...
 
0.27% today Wow! This is good for me.....I produced a 70% ROI today...

But I would need to do this daily...It gets easier as time goes by as the trade size goes up...on the fixed initial investment at the beginning of the 12 month period.

After 87 days I have achieved (after nine scalps today with one execution error):

Bal: 9.88%
NAV: 8.48%
DD:-1.24%
Lev: 2.35:1


There is definetly some money to be made if you want to supplement your Carry System, with scalp trades.

Michael B.
 
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