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12-11-08
Today was an excellent day to observe the strategy in action. The profits from yesterday were completely wiped out, then regained, and wiped out again... and then some. This is good for a number of reasons, most importantly because it showed me the potential of what I can expect. I will stop trading the current configuration for this week, and do as I did after last week's debacle. I will slightly rework a few things that will prevent a "today" from happening in the future. Steps to be implemented for next weeks run.
1. Divide single orders into smaller multiple units. This will avoid reaching the "MAX ALLOWED CONTRACT" limit with the broker. The way the EA is set-up now allows for 4 entry attempts. The fact that the set-up fails 4 times in a row is a rarity... but obviously not rare enough as it occurred twice today. Coincidently, both scenarios were cleared on the 5th attempts. I'll see to it that the failure of the set up can go as high as 7 to 8 failures in a row. This would be one of the "not likely to happen" situations I'm attempting to exploit with this methodology.
2. I will allow a 2 way (buy/sell) function which should limit draw downs, and pull more coin out of the price action. In other words, the EA will place orders independent of any other orders being open.
The results of next week's implementation will dictate any future changes. If for some reason the market goes bat shit crazy, I already have an alternate approach ready to go. But first things first...
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