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Short term TF trading
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Short term TF trading

  #301 (permalink)
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Something I've been wondering about.... CTA Performance #'s (or lack thereof).

Started a thread on it in case anyone is interested in weighing in.

https://futures.io/index-futures-trading/20750-cta-performance.html#post227850

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  #302 (permalink)
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6-5 Recap

Decent trading today, I'll take it for sure.

+3
+12
-7
-9
+5
-3
+14
+5

=+20 average ticks per contract

Had two losers in a row where I on the first one I thought resistance would hold and thus fought a losing battle with the trend, and the second one shortly after where I thought there was a breakout failure - where I proceeded to lose to the trend again. At times I felt like I was the "weak hand" being shaken out, but I stayed fearless (kinda) and just re-entered once it looked safe again.l But the rest was good today.

You can see the two red arrows in the middle of the chart where I fought the trend. There was definite slowed momentum to support the idea though.
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And here's the performance ratio I'm monitoring closely. It's amazing to see results from where you shift your focus.

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  #303 (permalink)
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Drawdowns (riskiness)


I'm very happy with the reduction in drawdowns as of late. I know it's not entirely sustainable, and there will be strings of losses, BUT if I keep this laser focus... the large majority of the time I think I can keep my drawdown chart looking like this. (Which in case this seems really boring to you... makes your equity curve look like a very steep, straight line headed up... and that's a little more sexy).
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  #304 (permalink)
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Trade Recap Video 6-5-12

Screenr - indextrader7: 6-5 Recap (sorry it got cut off at 5:00, but I was pretty much done)

One thing I wanted to add to that is on the few trades where I got stopped out trying to get long on the pullback (right before 9:00AM), now I see that I should just set my stop loss below the bull candle and let it do it's thing. If that's too far away for my risk appetite, I can simply trade less contracts. Not a novel concept I know, but still somewhere I see an area for improvement.

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  #305 (permalink)
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General vs Specific Trading Plan

IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

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  #306 (permalink)
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Traderwolf View Post
IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

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  #307 (permalink)
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indextrader7 View Post
I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

I like you more and more IT7; I did not realize we have so much in common. What you say here is heresy to many in the masses, but sweet music to my ears. Many are threatened by the "F" word (feel) and the "S" word (subjectivity), because they would prefer to turn their brains and humanity off, and let a computer or a static list of rules tell them what to do.

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  #308 (permalink)
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Boy, wish I could have traded today, some really nice movement, although that's always easy to say in hindsight! Changing some account structure stuff around today with Mirus, hopefully will be up and running tomorrow.

Hope you guys banked some ticks today.

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  #309 (permalink)
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Trades today

Going well. Might be done for the day, as it's really nice outside! Tennis? Golf? Shooting? Time will tell.

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  #310 (permalink)
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IT7...quick question for ya.

Do you plan to turn on your charts at the same time each morning to start trading? How much flexibility do you have in this?

Basically wondering if you trade pre-market action or maybe if you like to wait for a certain number of bars to print before engaging...

Thanks again for the journal!

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