Net breakdown (contracts traded):
ES -$26(4), ZS $24(5), 6E -$277(3), 6B -$122(6)
ES -$26(4), ZS $24(5), 6E -$277(3), 6B -$122(6)
| RESULTS FOR DAY | |
|---|---|
| Contracts: | 18 |
| Net $P/L: | -400 |
| Wins: | 5 |
| Losses: | 10 |
| Win%: | 33 |
| Avg$Win: | 88 |
| Avg$Loss: | -84 |
P/L for the week was just like a downhill Olympic ski slope in Whistler. Note to self: flip this over next week!
Posts
I don't think I've ever seen you have such a tough week...
ReplyDeleteI'm assuming your not simming. Hang in there, good luck with the plan for next week.
I had a tough week also. Wiped out my 2nd week profit. Good Luck For Both Of Us Next Week. How about we share our method? Maybe we can learn from each other. I trade exclusively on TF.
ReplyDeleteMichael, I've had much worse weeks but not lately... And yes, assumption is correct.
ReplyDeleteDeTrader, email me. (see my profile)
I don't know your capital situation or whether you have any dependents, but you would definitely not be hurt from developing some other skills (maybe programming, maybe more econometrics.) You're in a good city to go find a prop shop where there are traders working real edges already.
ReplyDeleteAs I've said before, I really don't think there's an edge in technical analysis or [pure] break-out systems [that incorporate no outside information other than price]. Most technical analysis tends to amount to localized, excessively biased to one regime type of trading. The traders who do actually make money with technical analysis have an intuitive feel for market regime changes, so they get away with their crude approximations to genuine econometric phenomenon or news-driven trading.
If you look at a site like chartpattern.com, the patterns Zanger shows work; however, it's not the patterns alone. He almost always is looking at float and fundamentals (similar to CANSLIM) before he looks for "patterns" signaling liquidity exhaustion at a resistance/support level.
TC, thanks for the thoughts. Capital is okay, no dependents and no debt. I have often thought about learning a programming language better (besides the Basic & Fortran I had in school and the html I learned by doing). But it would take a significant amount of time to learn well enough to be useful to me I think.
ReplyDeleteYour conclusion that TA doesn't work in and of itself is an argument that will never have a correct answer imho. Perhaps I will someday agree with you but for now, I think a purely TA system can be profitable.
Curious what variables are you using for your M1 system? Email me if you like (see my profile for address).
M1 is a market-neutral portfolio that trades two baskets against each other, and the baskets are constructed carefully to be beta-neutral with most factors more or less neutralized. It tends to win only 51% of the time, but the winners have paid for the losses in simulations. However, the strategy has this tendency to tread water, and the streaks can go on for a long time. For me, treading water actually isn't terrible because it neutralizes my platform fees, since I end up doing a certain amount of volume and collecting enough profit to deal with commissions.
ReplyDeleteI've been tinkering with the core model to figure out just what it is that triggers massive adjustments in relative valuations between the component legs, but haven't pinpointed -exactly- why the strategy makes money. I had a theory while I was at the gym today, maybe I'll figure it out soon enough.