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Suggest everyone review risk management in light of...
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Suggest everyone review risk management in light of...

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Elite Member
Austin, TX
Futures Experience: Master
Platform: ninjatrader, r-trader
Favorite Futures: CL, NG, TF, NQ, YM, GC, ES
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Suggest everyone review risk management in light of...

I recently had to consider changing some of my risk management parameters. Specifically I am going to a higher cushion in my accounts. I did a top down review of how I scale contracts.

The HFT algos have made the markets much more dangerous in my opinion. The recent 1 hr NYMEX shutdown on CL is a very dangerous scenario that we all fear. Of course the NYMEX will never admit the algos caused it but I am convinced they did. I am also convinced it will happen again.

Specifically in regards to oil which is my primary market. The world situation is very dangerous and could equal fast account wipe out if got caught in position could not close while some world event transpired. This has been the case for sometime but things are more dangerous than ever and could spiral out of control fast.

I can live with less profit by scaling less but I cannot live with getting my account wiped out in a black swan event. I am tripling the delta I use to scale contracts. Outside of a black swan the tight delta I was using is safe and very manageable. But with HFT's crashing the computers on entire markets and potential for big moves caused by war etc.. I am playing it safe.

I also did a specific review of what I would do if I was in a CL position and NYMEX crashed leaving me stranded. Only way to protect is to be ready to put on a hedge fast. Very important to trade in a way that leaves you enough margin to put on a hedge if needed. I was not but am now. I had become lax in this area. As traders we cannot afford to get comfortable.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."

Last edited by liquidcci; February 27th, 2012 at 03:24 PM.
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