Wednesday, January 25, 2012

Wed. 1/25

2:05pm CST - Little was going my way again today and an order issue had me in trade limbo for awhile today. Back to the drawing board for me in the days ahead, or longer.


RESULTS FOR DAY
CL Contracts:38
Net $P/L:-1359
Wins:3
Losses:16
Win%:16
Avg$Win:418
Avg$Loss:-163
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6 comments:

  1. UnknownJanuary 25, 2012 at 6:06 PM

    MBA,

    from your experience as a full time trader, do you have a set number of trades you take in a day or week? I have not yet had to pay the bills through my trading profits, but I was thinking for consistency in my profits and losses, it would be easier if I limited my self/method to a set number of trades, the idea being that this will add to my consistentcy through out the year.

    Did my question make any since?

    ReplyDelete
  2. MBAGearheadJanuary 25, 2012 at 9:03 PM

    Hi Trin - no I currently don't have a set number of trades per day. I have tried that in the past, either per day or per system with mixed results. But I agree it is important to have limits whether they be mental or some quantitative measure.

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  3. MichaelJanuary 26, 2012 at 2:35 PM

    "stuck order" now I have something else to be paranoid about!

    Has that happened much before?

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  4. coryJanuary 26, 2012 at 4:19 PM

    I know you are researching to improve your odd but it doesn't hurt to get some feedback on your ideas.

    ReplyDelete
  5. PaulJanuary 29, 2012 at 5:16 AM

    Perhaps incremental type of entry would help? Starting with one contract on your strategy signal waiting to see if the chop does not hit your stop then adding more if it starts to move fast in your direction? Have you attempted this? We found it to be preferable as we do not miss trades like this, 1 contract wiped out would not keep us to reenter...think about it you might find it useful.

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  6. MBAGearheadJanuary 29, 2012 at 11:50 AM

    Michael - no it has never really happened like this did. I moved an order 2 ticks on the DOM and it got "stuck" - never confirmed that order changed but showed that it was in process of changing. This normally takes milliseconds. Luckily, all ended well.

    Cory - agreed but certainly not on a public blog. Perhaps some day I could see working on system development with a couple other traders.

    Paul - I've experimented a bit with averaging up. Thanks for idea.

    ReplyDelete

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