Sunday, October 25, 2009

The Holy Grail has been delivered $10,000 day

Yea right, delivered after a year of hard work by me. The past year has been frustrating and exciting. I have reached a level in simtrading where I can profit everyday in any market condition. Proving this to myself took a $10,000 plus day simtrading.

The fact is though that I need to be able to double down and move stops, at times, to make that happen. In general I do not take massive risk on any one trade, but when I do I usually get out ahead. Most of my trades are clear cut winners that do not threaten my stops. In fact my largest issue is not doing well letting runners run. I have left literally TONS of profit on the table.

I have spent the last two weeks revisiting the price action system from earlier this year. I was very excited about that system early on (see posts). I burned myself out trying to backtest and find signals in that system though.

Within the last 5 days I made a discovery that looks like it is the answer. Aside from three exhausting days of backtesting, how do I know it works? Many of the price action signals align perfectly with the indicators I have been using to suntrade for a year. They key facts appear to be as follows.

Positive aspects:
I have never seen anything similar to it anywhere.
It delivers many more winners than losers.
It takes all subjectivity out of a signal.
It signals reversals and breakouts and breakdowns.
Works on ES, NQ and YM.

Negative Aspects:
Works best taking small profit chunks quickly with the occasional runner.
Requires intense concentration.
Still needs to be proven in real time with real money.

I am exhausted after days and days of going over charts deciding what works and what does not. It is now time to begin the programming of the signals and live simtesting. If all goes well, I hope to be live with real money within 30 days.

Stay tuned and I hope your all making money or breaking even at worst. NEVER QUIT!

Tuesday, October 13, 2009

October 13th

Still alive here. I know a few who might have figured I gave up, crashed and burned. Not at all. I spent the summer enjoying myself and getting outside more. I came back to the screens refreshed and thinking about new ideas and tweaking old ideas and things are going well.

I was able to win every trade today while only stretching stops on two of them. Tonight I stumbled into something very big. As always, "possibly" big means I need to see it in realtime over and over and over which with my current schedule is hard to do.

I have still recorded the market all day everyday with software and always checks the charts at night.

Here is my P&L from today. I have many recent days like this one, 80% and up winners.

Thursday, September 10, 2009

Quick Update

I recently had the chance to go live and click my sell order in, surprise surprise there is not enough in my account to trade one contract. My account is well over the 2k minimum per who knows.

The initial trade would have won.

I was able to watch the market from home for once finally that day. I took 14 trades and won 14 trades. 1 or 2 of the trades were with the stop moved, the rest were clear winners.

The next day I had a bit of time and went 2 for 2.

I am reworking my price action systems. It is incredibly time consuming. I am moving back to this system because that partially helped me go for the 14/14 day.

Summer is ending, but I still plan on putting less time into updating the blog for now.

Tuesday, September 1, 2009

Quick Update: Still Alive

Work has been picking up and I have not had much decent screen time.
The only way I will ever get out of work is trading.
I have begun tracking one of my signals, only one. I will be taking a signal live once it proves itself to me. To avoid impulse trading I will trading only 1-2 signals and they must be exact.

So far during 7am to close the signal over 10 days has delivered just over $1000 after fees and losses. Clearly this would work assuming I had the time to take all the signals. The time issue alone may kill the ability to be profitable part time.

So - tracking signals now and waiting to go live, hopefully this year.

Wednesday, August 26, 2009

Simply Amazed - 168.82 points net

I had the time to cherry pick my trades today and things went well. I am using more new ideas about my indicators. It works more often than not.

I had 2-3 trades that went against me in which I scaled in big, but not more than 2 points against me. I usually exited these for a smaller gain. If the trade went my way quickly I went for 1-1.5 points, if not I tried to get out +.25-.5.

My stats were incredible again today. I was averaging roughly 8 contracts a trade.
29 Trades
28 Winners
1 Break Even
0 Losers

I left a LOT of profit on the table, but as always it is just satisfying to see the market move in the direction you predicted moments before.

Chart of the day shows the most exciting entry of the day. Obviously I did not catch the whole ride though.

Monday, August 24, 2009

Back in Black 64 points! +$3200 Net

I had some surprise time free today to watch the market. I went 25 winners in 25 trades! This was a new personal best. The caveat being some trades were very small just to get an exit and some had larger contract levels.. I was also using Bracket Trader which is very east to fill on, but I would say 90% of the trades traded well through my target negating any advantage from BT.

I was trading blind with no S&R levels at all. I had spent time in the last few weeks pouring over chat patterns and candle patterns related to my price action system and it seemed to pay off today.

Chart of the day shows a pattern I recently discovered that's fairly rare. It worked perfectly today.

Wednesday, August 19, 2009

Still here

I am still here. I have recently adapted another indicator and have been testing it. It takes the place of another indicator I was using. I am also reevaluating my price action setups and incorporating those into my trading.

I have done fairly well lately, but I am not keeping count right now.