1:35pm CST - A+ to me for trading my ZS system to perfection. But good grades does not mean good profits today. Of my 3 ZS system trades, first one stopped me out by 3 ticks before blowing through target. Second trade came within 2 ticks of target before reversing to stop me out. Final trade stopped me out by 5 ticks before blowing through my target. All were very nearly winners but were full stop outs instead. Such is trading. For the week, net gain of
$34.
Good article on computers soon overtaking humans in trading. Do we mortals entering orders manually stand a chance?
Net breakdown (contracts traded):
ZS -$2795(45), ZW $598(10), ZC -$364(10)
| RESULTS FOR DAY |
|---|
| Contracts: | 65
|
| Net $P/L: | -2560 |
| Wins: | 3
|
| Losses: | 7
|
| Win%: | 30 |
| Avg$Win: | 378 |
| Avg$Loss: | -528
|
Posts
I hope I'm wrong... but I think the days of us little guys daytrading are numbered. It may be a few years down the road, but I think the end is coming, at least for those who trade based on candle signals. Swing trading will probably be the best option for most people if computerized trading continues to grow.
ReplyDeleteThere are a lot of markets out there and I'm sure some are targeted for HFT more than others. Sometimes I complain that there are so many different markets to trade that it sucks the volume out of others. When it becomes hard to determine what support and resistance are anymore then I suppose the game really has changed. Even human created computer programs can't just place orders willy-nilly and hope to make a profit. Tough week MBA. I blame you oil traders for all the roller coaster rides (just kidding). We traders are supposed to love volatility aren't we? At least that's what it says in Trading 101.
ReplyDeleteHi MBA,
ReplyDeleteHaving a pal with same faith today. U made scratch gain, I made scratch losses for the week. Let's go out for a drink..lol.
Hi Michael,
Take a look at another symbol other than ES. There's dozens opportunity for day trading. I can't agree more if u said that about ES.
I have not made my mind up about HFT just yet, I’m sure we all read about the liquidity that computer trading offers, you can argue that makes it easier for the little guy to get in and out of positions.
ReplyDeleteYM-Trader One of the cons to HFT maybe the volatility? I know as traders we are suppose to thrive on it as we watch our P&L soar…I tend to get my stops knocked out in volatile markets :)
DeTrader,
ReplyDeleteThe ES is what I was thinking about. I stopped following it and am now watching the currency futures, so far so good. Hopefully it stays that way for a while.