Tuesday, June 30, 2009

me time

. Tuesday, June 30, 2009

---as always, doing some more testing on other ideas...I swear daily charts are a pain in the ass to build something I can live with...When I find a combination that gives 65% winners with no worse than a 25% drawdown in the Wheat market, THAT will be the grail!! Of course I can always have a lower drawdown as long as my account is huge---position sizing, remember?

---visualizing taking my trades

---visualizing getting stopped out

---reading Dr. Brett...That Trading Coach book is pretty damn cool...I never spent much time with all this self coaching, but no stone goes unturned this time around. Become Your Own Trading Coach is the official name...If anyone ever does stumble over here go here...
I'm blasting through it at the moment, then I'll read it slower next time, then go chapter by chapter.

---The room keeps me amused at times, but I am turning it lower and lower...It's hard to believe a guy who trades for a living gets so excited when he gets a runner...maybe it's for the attendees...I have been through a couple of cycles of people (always some stalwarts) in the room and it's always interesting to measure whether or not they have a chance...rather judgemental of me since I haven't proved jack shit, but it is interesting! It's not the ignorance, but the TYPE of question that gives it away...lots of people still want it given to them-course they are hopeless...A few others are pretty sharp...some ask too many curiosity questions---most of which you can google---I think they might be OK, but need to focus...I would read all day if I could, but once the bell rings all that stuff goes out the window...Give me a signal!!

Which reminds me...I have learned something valuable there in the room...Bill LOVES to get a signal...Of course you need a signal to make money, but I often viewed it with trepidation...Learning good stuff...Signals are good!!


Saturday, June 27, 2009

still looks good

. Saturday, June 27, 2009

I'm taking a week off from even looking at the "money program"...I want to come back fresh and look at it with a SUPER critical eye. Computerized testing of mechanical systems is so cool; no judgement no emotion, basically no human needed. My little pot of gold need a human touch...So before I go falling in love, I want to bring in a grizzled old eunuch to make sure I'm not being blind!


Monday, June 22, 2009

Nahh---It Couldn't Be

. Monday, June 22, 2009

It took a couple days to write this...makes me nervous...I am writing this very guardedly...I don't believe in miracles and I'm not comfortable being giddy...

high winning %---check
low drawdown---check
fairly active---check
system---nope (not programmable)
robust---check (so far)


Kinda funny really, after all these years, it's a couple of lines meeting another line? Bizarre...If it works, it's certainly one of life's little quirks!

In my testing, other than being a complete idiot, the biggest mistake you can make is NOT taking a trade. I find that rather ironic since pulling the trigger is my biggest weakness. As always, I tried to test under less than optimum circumstances and passed comfortably...Hell---if it's half as good as what it looks like, it is still tradeable, even for me. The super low drawdowns are so cool...I have seen some losses in chop, but very manageable and usually not more than 3 in a row...I'm looking for filters now...


Monday, June 15, 2009

more reading

. Monday, June 15, 2009

Ever since I signed up with EOT, I have been spending evening going over every single post in the Tradestation forum...There are over 60 pages...


Friday, June 5, 2009

Current Events

. Friday, June 5, 2009

I'm on with EOT...I'm on with E Signal...
The main reason for ESignal is to try to match Bill's trades in the room. I have RT data from IB, but the volume numbers are worthless. After all that, I don't see how its possible to take identical trades as he does. He basically uses market orders (buys the offer for example) but I see no way I could get those same fills. If you are going for just 4 ticks, the fill is the trade! Maybe he is on a super fast cable and Clearwire is holding me back...I have heard the same from others in the room, so I'm not the only one. You see the trading dome so I have to assume its all real...

The better news is I have already found some valuable tools in my EOT box of goodies! Found one that looks really cool and a couple more "maybes"...more testing is needed obviously. Good times...


Tuesday, June 2, 2009

Elmer Fudd

. Tuesday, June 2, 2009

My million dollar paper trading account-affectionately known as "The Elmer Fudd Hedge Fund" has been doing quite well. I haven't written about it here much as I wanted to concentrate on REAL futures trading . But it is fun to write down strange and unusual ideas. I had a a gold/silver ratio spread that did real well but the most obscure is the following...

Awhile back I had read that HRP was a standout in the REIT world in that they were very well managed and didn't make the billion dollar mistakes the others did. Now you don't have to be a genius to know the CRE sector is in the dumpster, so as a good paper trader would do, I pretended I had an analyst to confirm that HRP was indeed a front runner in that sector. I then bought 20K of HRP and simultaneously shorted 20K of VNQ (a REIT ETF). It worked like a dream! A fundamental idea and using my techs---fun stuff!!


Monday, June 1, 2009

more EOT

. Monday, June 1, 2009

It can't be all smoke and mirrors can it? The room guy (Bill) makes money about 70% of his trades...lots of small scalps and a runner...trades 3/1 with a 4 tick target for 3...I have never really thought of scalping like that, but what the hell...his weekly and monthly P/L look impressive...the programmer is a brain trust who I enjoy listening to...he has given me a few ideas that I wrote down...the owner (I guess) sounds like a cross between an airplane pilot and a cowboy...been around longer than me!

I guess my only reservation is he can't literally call out trades (NFA shit-I UNDERSTAND), but he sure gets some good fills when I put the pieces together. They aren't outlandish, and all are possible, just good fills...But...

I'm spending more money...