Tuesday, March 24, 2009

76W 10L 86T= 88.4% Opinions are dangerous


Base System: 76W - 10L = 86T = 88.4%
Sub System: 20W - 0L = 20T = 100.0% Again, another 100% day, wow.

Trading:
Net: +975.00
Net: 19.5 points
Accuracy: 70.49%


I tried to relax today, but I had the chance to watch the markets and I just can't sit there watching signals pass by.
The subsystem racked in another 100% day. It is slightly harder to trade though. Today I was experimenting with both systems together. Although I had my bad moments, I really was back in the game today and saw much of the morning session. I really could get a feel for where we would pause, reverse and dive quite often. I still played the average down game and got stuck in some real bad trades. When I do this, I always close them even or for a slight profit/loss to allow my P&L numbers to be real.
The fact is many times I miss 6 points of trades because I am stuck in something trying to get even, so what did I gain by moving my stop? This is the discipline I need to work on before going live. Even as good as this system is, it is SO hard controlling the trader.

At one point I was doing well and using dynamic S&R levels to confirm my signals. Then I formed an "opinion" that we would break to a previous high. I got in long and got stuck backwards against my own short signal. As usual my system was fantastic, the short fell over 4 points against me with me riding in it! I worked through it, but again, I missed some easy points fighting a bad decision.

I have found out that there are prop trading firms that will give me a $50,000 account and they absorb the losses in exchange for a cut of fees. I am officially open to this arrangement from a firm or private party so feel free to contact me if you have the money and need a system. I have something more than good enough to sell and I would be willing to teach it to someone after they sign a non disclosure.

Chart of the day shows a great long opportunity off the bottom, followed by a short off the top - just perfection. I have never been able to ride these, but I am happy taking what I can when the signal is there.

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