KJ Trading Systems Kevin Davey - Ask Me Anything (AMA) - Vendors and Product Reviews | futures.io
futures io futures trading


KJ Trading Systems Kevin Davey - Ask Me Anything (AMA)
Started: by Big Mike Views / Replies:39,532 / 270
Last Reply: Attachments:5

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 5  
 
Thread Tools Search this Thread
 

KJ Trading Systems Kevin Davey - Ask Me Anything (AMA)

  #121 (permalink)
Patience my young padawan
Houston, TX/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker/Data: IB / IB
Favorite Futures: ES & looking into commodities
 
ElChacal's Avatar
 
Posts: 308 since Nov 2014
Thanks: 368 given, 183 received


grausch View Post
You never really get rid of that even if you trade systematically...you can however make peace with it and accept it as part of business. Not watching the screen like a hawk tends to help with that specific issue.

Man you just described my entire week. LOL

Reply With Quote
The following 2 users say Thank You to ElChacal for this post:
 
  #122 (permalink)
Elite Member
Luxembourg, Luxembourg
 
Futures Experience: Advanced
Platform: TWS
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
Posts: 483 since May 2012
Thanks: 1,602 given, 1,079 received


ElChacal View Post
Man you just described my entire week. LOL

Wish I could say that I was any different...

Reply With Quote
The following 2 users say Thank You to grausch for this post:
 
  #123 (permalink)
Elite Member
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,236 since Jul 2012
Thanks: 1,046 given, 4,078 received



grausch View Post
You never really get rid of that even if you trade systematically...you can however make peace with it and accept it as part of business. Not watching the screen like a hawk tends to help with that specific issue.

Yes, people tend to think "oh, I'll just trade systematically, and then my emotions will be under control." I thought that too.

Unfortunately, it doesn't work that way. Emotions are still there, but they just manifest in different ways.

Maybe my experience will help...

I used to chart my equity every day. As you can imagine, all the ups and downs (thankfully more ups) made me crazy. So, the last few years, I have charted my equity only on a weekly basis. I'll admit sometimes I cheat and still calculate daily equity, but many days I only have a vague sense if I made money or lost money.

The cool thing about this is my focus is different now: not "am I making money?" but "am I trading correctly?" I can't control the money making part, but I can control the doing things correctly part, and by focusing on what I can actually influence I find myself a lot calmer and more in charge of things with this approach.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 13 users say Thank You to kevinkdog for this post:
 
  #124 (permalink)
Elite Member
Luxembourg, Luxembourg
 
Futures Experience: Advanced
Platform: TWS
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
Posts: 483 since May 2012
Thanks: 1,602 given, 1,079 received

Kevin,

Thanks for your feedback.

I still view my P&L daily, but I really should only focus on the charts and the trades. I find that seeing the big red / green block in Interactive Brokers with my daily P&L more of a hindrance than a help.

If I just focus on my excel sheets which track my performance, I just see a % move for the month and I just feel a lot better about my trading. As long as it is positive, I don't care too much about it. Once it gets negative, I scale back my trades and once it reaches -2%, I trade tiny size (less than 1% of my portfolio invested in a stock - total exposure < 10%). At that point it is all about feeling out the market and getting my rhythm back.

However, I never found a way to effectively implement that type of position sizing in my long term systems. Seemed like they caught all the really good trades on reduced size and all the bad trades on normal size.

Reply With Quote
The following 3 users say Thank You to grausch for this post:
 
  #125 (permalink)
Elite Member
Como, Italy
 
Futures Experience: Advanced
Platform: Tradestation, IB
Broker/Data: Tradestation, IB
Favorite Futures: ES
 
Posts: 150 since Aug 2014
Thanks: 234 given, 220 received

Futures Edge on FIO

What value do you place on the webinars on FIO?

 

kevinkdog View Post
Yes, people tend to think "oh, I'll just trade systematically, and then my emotions will be under control." I thought that too.

Unfortunately, it doesn't work that way. Emotions are still there, but they just manifest in different ways.



Well, I think quant trading can be much more stressing then discretionary, the only sure thing is that nothing works forever and nobody knows when that time will come for a strategy. So this add much stress, if something is performing good you expect a drawdown and if it's performing bad you start think it is broken.
The only cure is diversification, I've read in the option selling thread you have 78 strategies running. I'm very very far to be such diversified but I agree with your point. Also diversification has a cost and I think it is useful to have a yearly budget for R/D that do not impact to your performance too much.

Reply With Quote
The following 3 users say Thank You to montanajtt for this post:
 
  #126 (permalink)
Every Day I'm a n00b
San Tan Valley, AZ/USA
 
Futures Experience: Advanced
Platform: NT7
Broker/Data: IB, Tallinex, & 10 others.
Favorite Futures: Futures
 
FABRICATORX's Avatar
 
Posts: 195 since Jun 2013
Thanks: 693 given, 159 received

Kevin, I don't recall if this was discussed in your book.

What are the primary differences between your personal strategies, and a strategy used for World Cup trading?

Would you say they have a higher risk % and higher risk of ruin? Are they something you throw out there and say "well it will either blow up, or win 1st place".

-Jimmy
Reply With Quote
 
  #127 (permalink)
Elite Member
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,236 since Jul 2012
Thanks: 1,046 given, 4,078 received


FABRICATORX View Post
Kevin, I don't recall if this was discussed in your book.

What are the primary differences between your personal strategies, and a strategy used for World Cup trading?

Would you say they have a higher risk % and higher risk of ruin? Are they something you throw out there and say "well it will either blow up, or win 1st place".

They were the same strategies that I would use in "normal" trading, but with greatly reduced initial capital.

So, when I won the World Cup, I had a strategies trading 6-10 different markets. A prudent trader would have been trading such a setup with probably $30-45K. I started with $15K. Thus, my returns (and drawdowns) were probably double or more of a typical account.

The big thing to me was I had a goal (>100% return in a year), and I had to get a trading setup (strategies, account size, position sizing) in place to meet that goal. That to me was the most important part - starting with a goal.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 6 users say Thank You to kevinkdog for this post:
 
  #128 (permalink)
Every Day I'm a n00b
San Tan Valley, AZ/USA
 
Futures Experience: Advanced
Platform: NT7
Broker/Data: IB, Tallinex, & 10 others.
Favorite Futures: Futures
 
FABRICATORX's Avatar
 
Posts: 195 since Jun 2013
Thanks: 693 given, 159 received

Dude, the Return/DD ratio is life changing for systems development.

I was plugging away in excel, using your freemc spreadsheet, when I realized the significance of what that means.

Now I have some systems with a Ret/DD over 35.

Maximum attack with minimal pucker.

Thanks dude,

-Jimmy
Reply With Quote
 
  #129 (permalink)
Elite Member
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,236 since Jul 2012
Thanks: 1,046 given, 4,078 received


FABRICATORX View Post
Dude, the Return/DD ratio is life changing for systems development.

I was plugging away in excel, using your freemc spreadsheet, when I realized the significance of what that means.

Now I have some systems with a Ret/DD over 35.

Maximum attack with minimal pucker.

Thanks dude,

Over 35? WOW. I usually am happy with ratio over 2.0

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
 
  #130 (permalink)
Every Day I'm a n00b
San Tan Valley, AZ/USA
 
Futures Experience: Advanced
Platform: NT7
Broker/Data: IB, Tallinex, & 10 others.
Favorite Futures: Futures
 
FABRICATORX's Avatar
 
Posts: 195 since Jun 2013
Thanks: 693 given, 159 received


Dude the long-term timeframes are sooooo much better.

In theory, short term timeframes provide higher equity resolution, but I get absolutely hammered in them.

My goal was 1.5:1 lol


-Jimmy
Reply With Quote

Reply



futures io > > > > KJ Trading Systems Kevin Davey - Ask Me Anything (AMA)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

FIO Video Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Designing an Algo Trading System from A-to-Z, code included (Kevin Davey) Big Mike Elite Automated Trading 80 July 22nd, 2014 08:33 AM
Webinar: Developing a Rule Based Trading Algorithm - Kevin Davey Big Mike Elite Automated Trading 68 December 1st, 2013 08:05 PM
Market Profile Trading Academy / MissTrade's Matt Davio - Ask Me Anything (AMA) Big Mike Vendors and Product Reviews 81 November 27th, 2013 05:04 PM
DeCarley Trading's Carley Garner (Senior Strategist/Broker) - Ask Me Anything (AMA) Big Mike Options on Futures 1 March 6th, 2013 06:00 PM
Your experience with Kevin Lowry-free range trading ? mjwfinc Vendors and Product Reviews 3 August 16th, 2012 08:12 AM


All times are GMT -4. The time now is 02:45 PM.

no new posts
Page generated 2017-03-30 in 0.14 seconds with 20 queries on phoenix via your IP 184.73.47.110