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UPDATE: LOL, the demo account was blown up in less than 6 hrs of testing. Back to the lab. Sigh.
Finally debugged the basket strategy where at least I'm getting it to send orders in correctly, way too many flags/loops/calls. It it a major resource hog. I fixed the problem, but I still do not understand why it didn't work with the original method. Whatever.
I may not be able to run this thing with the amount of demos I have running simultaneously.
I'm just glad the first phase of building the foundation is over. I'm sure there will be more bugs that will pop up over time. But at least now, I can start to evaluate the strategy.
...I don't expect the Tortoise account to be funded until next year, there is too much expenses and events happening for the rest of the month. Hopefully the Hare account won't blow up before I fund this new account.
I woke up this morning, and had a brilliant realization (to myself). I'm going to be conservative. So the recently funded account that was suppose to trade the high risk high return strategies (grid, martingale, pyramid, etc etc) will now become the Tortoise account, and the next account created will be the Hare account. I had given it some thought, and I didn't want the Hare account to blow up before I can even get the next account going. The $147.29 was left over from my previous venture into high risk high return strategy where I had blown up. So it isn't all fun and peaches around here. Trading is a tough business, and it requires a lot of respect and planning. I think I made the right decision today to go low risk low return first.
So today, I fired up the Tortoise account with the "slow, methodical, grandma speed, trend following, breakout loving" strategy.
I've codenamed the 2 accounts as a joke: Tortoise and Hare.
So I will have a Tortoise and a Hare in the game, I like stacking the odds in my favor. Slowly building out my diversification plan. The Tortoise and the Hare accounts will be linked, so one will really ever get too far ahead or behind of the other. I will balance the 2 accounts on a quarterly basis. I don't expect the Tortoise account to be funded until next year, there is too much expenses and events happening for the rest of the month. Hopefully the Hare account won't blow up before I fund this new account.
On second thought, this doesn't seem like a very good idea at all. I should not be keeping the 2 accounts balanced evenly, that would actually be quite stupid and counter-productive to what I had in mind. Unless the Hare account is getting killed by the high risk strategy it uses, the transfer of funds should be strickly one way to the Tortoise account, assuming the Tortoise account is the safer strategy. Because the risk of ruin is so much higher for the Hare account, this should be the wise portfolio management strategy.
The Tortoise account is in a little bit of open drawdown right now, factoring equity...it is in the RED. It did bank $15 in balance though. Does it always feel like when you go live, the strategy suddenly becomes less profitable and the drawdown seem to be bigger than usual?
__________________
aka jbfx
Last edited by Kenny Rogers; 12-05-2008 at 09:35 PM.
Just closed all of the trades before the London open, got tired of watching the screen.
Finally, a breakout of the short term range! Trend is my friend! I was getting chopped left and right in that tight range.
I'm not sure which directions the institutions will push the prices. The PA is basically heading into solid resistance on the Euro, it can either reject or break through. I rather just bank the profit, and wait to see how strong the bulls or bears are in this consolidation zone. I may re-enter if it breaks out, I don't expect this to happen until US open though. Who knows? Sitting on the sideline until one side is the clear winner.
Thanks for the compliment, Mr. M. Much appreciated.
I checked this morning after the US open, and I exited a bit early again because Euro continued its upmove since the London open. I should have easily gotten $42K original target. Oh woe the Piker in me.
Fabio? I guess I would be honored, LOL.
Yeah, it's good to make profit, but I'm sure people called me reckless, gambling fool, and other bad names when I was making losses. So I've learned from my many failures to "never count your money, until the dealing is done."
I plan on introducing my EURGBP strategy onto my main account in the new year. Hoping the trending ways of the EURGBP recently is not a short term phenomenon.
I had 11 consecutive losses at the beginning of this month, getting faked out one way after another in the ranging market. I was down more than -$3K as I was trying to find a real breakout. Prices would break support or resistance for a few pips, and then retrace back into the range. Luckily, I cut my losses when I was wrong. It felt like every trade after entry was going to losses at the beginning of the month.
Finally, I got into a decent trend (and luckily on the right side of the market) and rode it to the bank.
I wonder how many people would have changed or tweaked their strategies after 11 consecutive losses? Being stubborn (or some might say stupid) has its benefits, I guess.
__________________
aka jbfx
Last edited by Kenny Rogers; 12-08-2008 at 10:40 PM.
But at least now, I can start to evaluate the strategy.
I guess I would be honored, LOL.
So I've learned from my many failures to "never count your money, until the dealing is done."
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