Taking 1million to zero in "n" months.

Quote from PHOENIX TRADING:

I work healthcare, in a rural area. I don't mind the core that consists of direct patient care the other 80% of the time I hate the f'n
BS.
I can/do trade on my blackberry but that's just based on price as my information.

The real direct conflict with work and trading was when I was temporarily moved to another area. Otherwise as far as direct conflicts are concerned they have been rare because I already have my trading plans mapped out before I start my day.

Indirect conflicts of too much time devoted to day job for quality life and trading is rampant.

I make pretty good money for what I do and no need to walk away completely, besides I do need some semblance of stable cash flow.

As I have mentioned it before (barring a complete blow up) I plan to trade under a business entity next year as a part time securities trader designation with the IRS.

I intend to cut my day job back to 2 days a week and trade the rest.

The first 3 years will be the riskiest as I tap my IRA for trading/ living expenses. After that trading should be able to provide at or near 100% of my income needs or I need to come up with a different plan.
More...


I was just going to ask why you do not trade from your mobile device.
 
Trading has been temporarily halted due to exit indicator /signal failure.
During the historical test period the signal produced a maximal draw-down, daily high / daily low of 18%.

At this point it still has not indicated that I should exit and the peak to trough is 37-38% or 200% of max historical.

Odd how this could happen so quickly without any curve fitting whatsoever. I have to admit it was a very simple idea which evidently has become quite popular hence it's rapid failure or the market has radically changed in the last 9-12months.
 
Patiently waiting for the right trade to present itself.

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Quote from PHOENIX TRADING:

Trading has been temporarily halted due to exit indicator /signal failure.
During the historical test period the signal produced a maximal draw-down, daily high / daily low of 18%.

At this point it still has not indicated that I should exit and the peak to trough is 37-38% or 200% of max historical.

Odd how this could happen so quickly without any curve fitting whatsoever. I have to admit it was a very simple idea which evidently has become quite popular hence it's rapid failure or the market has radically changed in the last 9-12months.
More...

so how is it going ? Also, if it is a very simple idea that became known very widely, do you mind explaining or at least pointing out what the idea was. Maybe you will get a good discussion going and you might discover some tweaks to make it work again. Just saying.
 
Quote from gmst:

so how is it going ? Also, if it is a very simple idea that became known very widely, do you mind explaining or at least pointing out what the idea was. Maybe you will get a good discussion going and you might discover some tweaks to make it work again. Just saying.
More...
Everything is fine.
Yesterday I put the first trade on since halting trading.
Down around 900$ for the day.
Sorry not into discussing my method but apparently a well known vendor started selling something very similar to my method about 3 months ago.
They advertise astounding percent returns and I suspect it will be popular. All of which obviously means it's (or better yet the customers) are doomed to fail rather quickly.
 
No open trades
account balance down apx $1,500 from last snapshot.
515k

I think this bull market is in the throes of playing itself out.

I have not really found a method of shorting the market that I am especially comfortable with using, that this account can perform.

The one thing I've learned from trading is you have to take advantage of allowing things to happen.
If you try to make things happen... look out.
So i'm patiently awaiting for my moment of opportunity (new bull market)
 
Patiently waiting (I hope patient enough) for a sell off that
should be a long term long entry.


I'm not comfortable with the techniques available for going short in an IRA at these levels.

If the ES got near 1600, depending on fed printing I would feel comfortable shorting futures again.

My bias is to the short side but I'd welcome a large magnitude change in either direction.
 
I think i've been more than candid about my results and their disappointment.


synopsis to taking 1million to zero

first few posts detailed where i had a 50% drawdown because I refused to see where i was wrong about the effects of political intevention . (I had previously positioned myself heavily for a european banking crisis that did not materialize )


change in strategy was a success and net positive.

Work obligations made me miss entries I wanted to continue.
I have a strict " no chasing the market rule"
Although this year following this rule has made me miss out on HUGE gains, I'll just have to suck it up because IMHO I'm in it for the long haul and arbitrarily violating your discipline is the short cut to failure.


I do intent to start another journal for next year.
 
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