I planned to go back to currency. I developed this low risk system this weekend and like to test it soon.
Some of you know may cynically hate my change of plan all the time. Me too, but I have no choice. I really don't have good radar about the trend, go with the trend, etc. So this system will prevent me trading against the trend. I might get chopped on sideways or selling the low, buying the top but it won't be so terrible since most of my SL would be less than 10 ticks.
The best part of my new system is there's signal for reversal, not just breakout. As long as it's still with the trend, I'll counter-trend the smaller time frame. That's right, I use smaller and longer time frame. Not actually time frame, it's range and tick chart. With this strategy, at least I could do better on chopped market.
This system IMO only worked on currency, not suitable for explosive symbol like Crude Oil. I also researching the soybean, have a good prospect with part of the system. I'll update further later...
Nothing wrong with changes of system if that system is not suitable for the job. right tool is needed for the right job. But once the tool (system) proven correct, of course.. stick to it..at this stage only the mind need the change/rest after long fights....
ReplyDeletethe way you describe ur system ..yes i agreed that it MAY suitable for ZS too. But hey, at this time... I dont know much about ZS, so no more comment..(MBA is good with ZS)... But what I'm sure I'll be dead if I use my CL system with ZS.
Lastly, thats why the max contracts we can deal at any one time is 2 and have quite similar characters. Not 3 or worse have diff characters/mentality..it will twists our own brain... speaked from MY experience, not yours :)
Hi De'Trader,
ReplyDeletewhatever symbol that you decide to trade, why not try giving it your undivided attention for, say, 6 months, just to slow things down so you can see and think clearer (a lot has been written about the art of stillness - you might want to check it out)?
We keep saying we know that the instruments and markets we trade, and the systems we use are not the problem but that we ourselves are our own problem. But in our hearts of hearts, do we really BELIEVE that?
Agree with Jules
ReplyDelete6 months for testing and running.
All the best De'Trader.
Good luck with your new TS,
ReplyDeletebut I agree with the others need to be test for at least 6 month.
Thanks for everyone who concerned,
ReplyDeleteAppreciated it so much :)
@ TST,
Happy to meet with fellow Crude Trader. On Crude I'll stick with old plan, a little tweak to reduce event like Thursday and Friday. I am not really sure about soybean since it's backtesting too short but I'll keep an eye on it. About contracts amount I agree. It'll twist my mind and discipline so I'll stick to one contract on everything.
Jules,Ayumi,Julia(The first post I had more female comments than male,lol) Thanks for the advice. I'll backtesting it for 6 months and a couple days to demo trade.
Looking back of my trades before, it's more about myself than my system. I used the best system out there on the market IMO. I used Austin system which is already worth at least 10 years of experience. Then I used this new system that worth at least 15 years of experience.
My primary tasked is:
1. Backtesting,evaluating, and tweaking the working system that suits my personality.
2. Attached the secure risk and money management on it.
3. Execute flawlessly with no bias and uncontrolled emotion included.