Monday, December 7, 2009

Chopped

3:00pm CST - Chopped to little bits today trying to hold winners longer. Having my AvgWin higher than my AvgLoss is not reassuring in today's case.

Net breakdown: 6E -$84, ZS -$300, GCL -$67, ES -$78
RESULTS FOR DAY
Contracts:14
Net $P/L:-529
Wins:3
Losses:10
Win%:23
Avg$Win:124
Avg$Loss:-90
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2 comments:

  1. AnonymousDecember 7, 2009 at 10:49 PM

    I read your blog every day and your loss of money really troubles me and I can't stay silent here. I think it would be better to just not lose money and really rethink this or use much, much smaller quantities.

    Your backtesting should be automated, the performance summaries are all wrong, the amount of data involved is wrong, the risk management is off, and your expectancy isn't bound in reality because your execution mechanism (you) aren't as crisp as a set of rules made in a situation with no pressure.

    You need an intervention, man. It's cheaper to chill and use $500 to live than it is to rush to either make back your money or get to riches.

    Don't get me wrong -- I believe in you, but you don't have to make it this hard on yourself.

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  2. MBAGearheadDecember 8, 2009 at 2:27 PM

    Thanks for following along Anon. So many points to address...

    I would like to automate backtesting but have never had much success in using eSignal to do so. I know Tradestation has some advantages there but I've never used that and have resisted going that route. What do you think is wrong with my performance summaries and amount of data? More data is always better covering all market conditions...

    I disagree with an intervention but thanks for caring about me! :) One should never trade with money one needs to live and although I would love to have back the capital I've lost this year I accepted that risk when I started trading.

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