Well time has flown by.
The recent increase in IB margin requirements has scuppered the money management on this system which is a shame.
Currently the table below shows what is required to trade a single contract on this portfolio. Bear in mind you would need at least 50% more than this to realistically trade (ie not have any margin calls as soon as something goes against you by a point) it has all gone a little Pete Tong (wrong).

the good news is the system is putting...

rdstagg

I am finding it increasingly difficult to manage all the requirements of day trading and completing this blog, You wouldn't think it would be difficult but somehow it is.
Henceforth I shall only be updating as and when I can rather than every day.

On Monday we started trading with 6 contracts and got hit with a big drawdown of 8,070 on the day.
This moved us back down to 5 contracts and yesterday we managed to return 4,000 to the portfolio and again move us back to trading...

rdstagg

June 20
YM 145
EMD 20
ER2 240
DAX 3900
ESTX 740
SMI 850
Net 5,895 / 29,475

Another great day on the European indices.

The dax turned in a stellar performance after some dramatic news midday (European time). Well , I assume it was news.

This gave me the heads up not to play the open gap fade trade ( saved a fortune there) - so all in all a very productive day.

The ER2 (now...

rdstagg

Well I have been beset by all sorts of tech issues in the last 2 weeks. Hopefully they are now all sorted out.
I resorted at one stage to trading on my kids computer as both my desktop and the laptop had (different) problems.
Trading is a bit like property - its all about backup, backup, backup.
On which point I saw a very interesting widget the other day - a wireless always on internet that connected to the mobile telephone network - £15 per month.
I am currently changing...

rdstagg

11-Jun-08
Ym 5
EMD 400
ER2 290
DAX (525)
ESTX(170)
SMI 10
Net 10 /40

Something happened early on in the European markets to trip our stops and get us out of a beautiful Short position. I think it was the BOE announcement but I don't have live news so I can't be sure.
The system missed out on some major money AGAIN today.
Fortunately the late moves got captured in the USA market but we do not want to miss moves...

rdstagg