Wednesday, April 25, 2012

Wed. 4/25

2:35pm CDT - I’ve been in this game long enough that it shouldn’t surprise me any more how quickly things can turn on a dime. Did my new strategy just have “beginner’s luck” last week? And now it’s back to reality? Today I found myself second guessing a couple exits and subsequently moved stops, contradicting my plan. So test period is over for now as I do some more homework.

Net Breakdown (contracts traded): 
TF -$766(6), CL -$259(2)
RESULTS FOR DAY
Contracts:8
Net $P/L:-1025
Wins:0
Losses:4
Win%:0
Avg$Win:0
Avg$Loss:-256
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5 comments:

  1. coryApril 25, 2012 at 5:04 PM

    This is earning news week, APPL earning was a surprise. Today is FOMC day. Does your strategy trade the news? Does your strategy handle news day and no-news day in the same way?

    ReplyDelete
  2. UnknownApril 25, 2012 at 6:05 PM

    MBA, I remember you working with a mechanical trading system, are your trades based on that system and do you subscribe to back testing your strategies?

    ReplyDelete
  3. Kevin DaveyApril 25, 2012 at 9:48 PM

    MBA - From earlier posts, it is clear to me you know the right thing to do. Doing the right thing, though, is incredibly tough.

    For those who may not know, it is as simple (and as complicated) as this:

    1. Develop a trading methodology that has been proven to work.
    2. Trade that method without deviation.

    ReplyDelete
  4. TSTApril 26, 2012 at 3:28 AM

    http://www.ted.com/talks/atul_gawande_how_do_we_heal_medicine.html?source=facebook#.T5KkxJ-x9u4.facebook

    I just create a checklist paper for myself :0

    ReplyDelete
  5. MBAGearheadApril 26, 2012 at 2:51 PM

    Thanks for comments.

    Cory, price is my guide and I do trades news days the same but yet different since price often behaves differently. I choose not to "sit out" a given news day because you can't predict in advance what price will really do.

    Trin, yes it is a new mechanical trading system that has been backtested. Not using Ninja Strategy which I was working on for awhile but the old fashioned way of scrolling through charts.

    Kevin, very true and very tough at times!

    TST, good TED talk. Checklists are great if it helps with discipline.

    ReplyDelete

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