Mechanical Trading Intra Day

This is a discussion on Mechanical Trading Intra Day within the Trading Journals forums, part of the Reception category; Stopped out on this one. Just a little too early on the trigger....

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Old May 22, 2008, 8:47am   #71
 
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Estx Add to Short outcome

rdstagg started this thread Stopped out on this one.
Just a little too early on the trigger.
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Old May 23, 2008, 9:37am   #72
 
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4 Contract wipeout

rdstagg started this thread May 22

YM -250
EMD -110
ER2 -380
DAx -550
ESTX -100
SMI +10

Net -1,380 / -5,520

Well that's a great start to 4 contract trading!
The exits worked really well here strangely so not that unhappy. Our jump up to 4 contracts enhanced the loss however.

Avoiding big losses - which we did here - can help greatly. All our trades were effectively nick and runs so had we sat passively our losses would have been 3 times what they were.
Small crumbs of comfort but you have to take the rough with the smooth.

Tomorrow back to 3 contracts.

Today's chart is an example of exiting a losing position. I have marked the rule based exit (ie it's complusory that I exit) and also my real time one in this case. Lots of people complain that my stops are way too wide - and they are - but this system requires that the trade be allowed to breathe in and breathe out. And that always goes further than you would like. To get the big ones you have to take lots of small losses - its just the way it is.
My personal exit here is simply a lower high with a reverse signal from my other strategy programme. I would have liked an increase in volume so I did hesitate and NOT exit on the break of the Doji but the next break was a no brainer.
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Old May 24, 2008, 8:49pm   #73
 
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From wipeout to singin in the rain

rdstagg started this thread May 23

Ym 105
EMD 100
ER2 10
Dax 1,483
ESTX 400
SMI 445

Net 2,543 / 7,630

The only disappointment with today is that we only had 3 contracts on and not 4 - because of the horrible day yesterday.
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Old May 24, 2008, 8:57pm   #74
 
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Equity nearly tripled in 48 trading days

rdstagg started this thread Very good week - the only blot was thursday ironically where we upgraded our lot size to 4 and instantly took a big hit to drop us down to 3 for the big day following.
Net 10,475 for the week so shan't complain! However we did suffer a 9.77% Drawdown in the week - increasing contracts works both ways remember!

My feelings (for what they are worth) is that this has gone way too smoothly. In my real time trading I don't often get periods like this so I shall enjoy it whilst it lasts. Maybe, who knows I am getting better?
Nah, I don't think so either - it's simply that the markets are being kind to our system currently.


Soon I shall start talking about expectancy - just starting to get some semi meaningful statistics in but a little early just yet.
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Old May 26, 2008, 8:16pm   #75
 
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Memorial Day

rdstagg started this thread European markets are open today but I hope for some meaningful action tomorrow.
I am trading somewhere new tomorrow so I suspect I shall just be using my basic rules to get in and get out.

It is chucking it down here in West Sussex - so a great British Bank Holiday as usual :-).
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Old May 29, 2008, 8:17am   #76
 
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Very poor Trading by me Today

rdstagg started this thread May 28
Ym -355
EMD No trade
ER" -100
DAX -575
ESTX 5
SMI -290

Net (1,315 )/ (5,260).

Lets talk about the negative first.
I got taken out of a great trade in the Dax. Just brought the stop in too close too early.
I have played with the idea of waiting for a Close beyond/at my stop rather than a high or a low and in this instance it would have made us a significant amount of money but on the whole I found it doesn't really pay.
The real lesson is to allow the instrument to wiggle.
What compounds my error here was that in real time I actually exited on the first breakout at breakeven as I did not like the price action - and then forgot to put the re entry order in - so that is probably worse.
Ah... move on Russell.

On the ER2 moving our stop very close saved us a fortune. I did this because my other day trading system gave a very strong Up signal on the breakdown.
It;s the 2nd most powerful signal it produces so always worth looking at.

A poor day then but more annoying than anything else.

Edit - Back to trading 3 contracts now - again!
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Old May 30, 2008, 9:24am   #77
 
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Drawdown continues

rdstagg started this thread May 29

Ym 5+
EMD 10
er2 -100
Dax -575
ESTX 5
smi -290

Net -945 / -2,835

Dax was a horrible nick and run and caused the damage today.
EMD was a good signal but my other system interfered incorrectly today and got me out.
With no re entry order we missed a nice move there.
All in all a very frustrating day.
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