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Here are my last week results trading one NQ contract. We had similar trading patterns in December 2018. My strategy was ready to handle another volatility week.
Would you mind shedding some more information on your strategy? What type of charts are you using? If tick/volume charts - do you adjust your settings?
If not specifics, would still be interested in stuff like:
1) Stop size
2) How do you enter (limit or stops)
3) How do you manage/enter trades, i.e., DOM or chart trader?
I'm normally a chart trader and enter using limit orders. In a normal market, I rarely have any problems, but I struggled a bit this week and eventually found that I had to work a limit above/below the market and be very fast to react.
I am Rick. I have been a long time observer but I'm posting for the very first time today. I have been trading stocks from the Nasdaq for the past 20 years without ever getting better returns than the S&P 500. Over the past 3-4 years, the idea of …
Right now I trade with full size on the long term and super small size intraday for testing and development purposes.
Last week all of my models (mostly mean reversion based) had me long equities with my entire account. I rode the market down about 13% off highs getting increasingly longer on each down day. As of yesterday’s close I am beating the market by about 4% off of Fridays lows/close - and closer to 7% when looking at today’s expected open. (I am long treasuries.) While it certainly did suck to be down everyday last week, my performance relative to the S&P500 matters much more to me than my absolute performance. If my account hits a new high watermark before the market, than my models are working and I will achieve superior returns when compared to the benchmark and my wealth will grow at a faster rate.
On the daytrading side of things, the increased volatility crippled my platform, causing lagging data and inaccurate real-time quotes. I didn’t place many intraday trades in these conditions and elected instead to just observe the market and note what seemed to be good trade location in real time. I did, however place some short term swing trades (1-5 days) with the same small size I use for all discretionary trading. Here are the stats!
Glad to hear others had a more profitable week than I! The biggest advantage of daytrading in my eyes is the fact that there are truly asymmetric opportunities both long and short, in the world of longer term equities-trading, the positive drift really kills a lot of the short strategies I’ve developed.
