ShareJZ Prop Account (by cateful) Quick Stats
The user has deleted this system.
JZ Prop Account Discussion
| Subscribe to this topic | Previous 1 2 3 4 5 6 Next |
|
Member Since Aug 01, 2009 941 posts
Elkart (Elkart)
Feb 19 2010 at 17:48
I don't mean overall direction, but in MT you can for example set it to only do long or short trades, when you have your overall direction can you think of a systematic way to do your entries?
Chang beer is evil. |
|
|
Member Since Dec 19, 2009 87 posts
Fill or Kill (cateful)
Feb 19 2010 at 18:04
Elkart posted: I don't mean overall direction, but in MT you can for example set it to only do long or short trades, when you have your overall direction can you think of a systematic way to do your entries? I don't know. The thought of automating it never crosses my mind. I don't think it can be done because a lot of position management are discretionary, too. |
|
|
|
Member Since Aug 01, 2009 941 posts
Elkart (Elkart)
Feb 19 2010 at 18:08
(edited Feb 19 2010 at 18:09 )
I can't trade manually. Slow day like today, all my money ends up in one position. I just get drawn in. Can't help myself.
Chang beer is evil. |
|
|
|
Member Since Feb 16, 2010 3 posts
Doolittle
Feb 20 2010 at 05:03
cateful posted: Thanks for the nice words! I have a pre-determined stop loss for each campaign, this gives me flexibility as to when to close an individual trade. I don't actually put the stop orders in. But I make sure they're taken care of. I do take losses. I love taking small losses but I absolutely hate big losses. I won't allow it. 100 pips in a volatile pair like EURUSD is nothing, it is one day's range. It is a risk I can take. 500 pips would not be acceptable. That being said, I'd like to point out that because my starting position is generally minuscular, a few hundred pip in the red wouldn't really do much to my account. So if anyone asks me for a piece of advice, I'd say start small and think long term. You also have to realize losing is part of the game, it is the cost of doing business. I do exit a trade BEFORE a fundamental shift. This is discretionary. For example I just closed out all my shorts at/around 8680 level with a healthy profit. If you look at the fundamentals nothing has changed much. But I did it because: 1. I need to close it for a fund administration issue. 2. I think right now EURGBP is not the best pair to express my view on Europe. (Look at EURAUD) My maximum leverage level if I remembered right was 1:10. I only used it once for the past 2 years. 3/5 positions means that my plan is to have X units of XYZ, but because price doesn't always go as expected, I end up getting only 3/5(60%) of X units. I used 3/5, 5/5 instead of 60%, 100% only because I am a lazy typer and hate holding down the shift key:P You can add me at QQ 1042863. And Happy Chinese New Year! Thanks a lot for the detailed explanation. 
|
|
|
|
Member Since Dec 19, 2009 87 posts
Fill or Kill (cateful)
Feb 23 2010 at 08:12
UPDATE:
I have gone long euro dollar with a VERY small position at an average price of 1.3640-50. This is a rather short term trade but I see it with the prospective to grow into a big macro trade if things turn out to be what I think it would be. Below is what I wrote a few hours earlier, Everything is moving sideways for the last 48 hours. No trade so far but I think people are waiting on something. Maybe the Greek debt issuance. Something is going to give very soon. Euro has been battered to the ground and I think people are so negative on Greece right now that they start calling other perfectly OK countries insolvent. My feeling is that the Greek debt issuance(expected this week or next) will be a success with low to mid tails. I will trade based on this view. Also in the future I will shift my focus to my fund account. I'm not sure if I could make the statistics of the fund account public. I will have to check with that. I will still trade this prop account, but the execution prices will be less favorable as I will put the fund account before my prop account. Thanks for understanding. |
|
|
|
Member Since Dec 19, 2009 87 posts
Fill or Kill (cateful)
Feb 23 2010 at 14:02
That was a major disaster lol. After I opened the trade, it went as high as 1.3690ish before it fell back HARD. For a minute I thought I was Jesus. But the market had to remind me to be humble. That was fun. Now I'm going to make it back with lower risk limit.
|
|
|
Member Since Feb 17, 2010 7 posts
Greg Bates (batesmotel)
Mar 01 2010 at 22:48
(edited Mar 01 2010 at 22:49 )
Hi Fill or Kill:
Do you manage accounts? If so, perhaps you could post the criteria...ie minimum investment, fees, etc.... Please let me know....Thanks, Greg Bates |
|
|
|
Member Since Dec 19, 2009 87 posts
Fill or Kill (cateful)
Mar 06 2010 at 15:35
As I said above, I am slowing things down a bit for the sake of managing the fund. Everything I do on this prop account is now mirrored to the fund account so I am taking less and less trades/risks as it goes. March is a losing month so far but a 3% loss is something I can live by. Let's what will happen.
|
|
|
|
Member Since Aug 01, 2009 941 posts
Elkart (Elkart)
Mar 07 2010 at 09:00
Mate, you stats have gone wild....
Chang beer is evil. |
|
|
Member Since Jul 31, 2009 1164 posts
Ethan (Staff)
Mar 07 2010 at 09:15
Elkart posted: Mate, you stats have gone wild.... Elkart, it was a hiccup in our systems - just fixed. Got a question? Need help? Send me a message! |
| Subscribe to this topic | Previous 1 2 3 4 5 6 Next |
