Kates Journal

[KateMoloney]

Update

Still working on the system every day. Really enjoying the process. Need to do an excel course at some stage to learn a few shortcuts working with copious amounts of data.

Looking forward to designing a trend following system (will leave that for 4-6 weeks until the MR system is finalised).

[KateMoloney]

ASX momo 0%
Growth port -4%

US TLT +8.2%
US momo +5.13%

Aiming to start trading my MR system in the next 2 weeks.

[KateMoloney]

This week has been an interesting one. With a corrective surgery and being out of it for 48 hours….. it does make one think about the systems and processes to put in place when we are not capable of running our daily systems. Even today I am struggling with cognitive function due to having one ear completely blocked off.

On another note, its been a ride the last 24 hours in the ASX momentum system and Trade Long Term. Both systems had one share drop 17% – 18%.

Felt no emotion over it and thought, what kind of joke is the market playing on us at the moment. Just like profits come and go, so do losses.

The mischievous side in me wanted to email Nick and complain, but since we are having a call later today I figured I better be nice to him ! :cheer:

On a more serious note, my husband and I are achieving our financial goals without trading. Whilst our trading profits this year have dropped from a peak of $90k to $10k, I have no regrets, and if we can achieve our financial goals without trading, then *WHEN* (not if) the trading profits kick in, then it will only supercharge our ability to achieve our financial goals.

[KateMoloney]

First trades placed with the API.
Started with a small account so I can get my head around the technology and IB platform, create a routine.

Thank you to Nick for your patience and helping me set up the API. I’m still a bit mentally slow and appreciate the time you took to help me get my head around all the settings.

[GlenPeake]

Good Luck with the MR system Kate!!

[KateMoloney]

Thanks Glen.

I’ve triple checked the tech, fingers crossed it works !!

[ChrisThong]

Kate, good Luck with the MR system!!

[KateMoloney]

First night of trading, had 7 fills, the API lucked out on me and issued the sell orders one minute before market close. So I’m still holding the positions.

Whilst I was trying to figure out what happened … API VPS OMG WTF all this new technology … Nick came to the rescue and hopefully it will work tonight. Very grateful for Nick and would have been lost without him. TWS and IB help sections are clunky to navigate.

My task tomorrow is to screen snapshot the settings on TWS Nick put in place. I’m creating manuals for the trading business – there are so many new things to remember with AB & now TWS – and its been super helpful to document the settings etc, what works, what doesn’t.

The goal is to keep trading with a small account until we iron out the tech issues and get a feel for the system.
If the system loses money due to not loading the sell orders on time, now is the best time for these mistakes to happen .. cost of doing business.

Enjoying the journey and documenting it all here … one day I’ll be able to read back on this journal .. remember all the hurdles and the people that helped us to become competent and profitable traders.

[KateMoloney]

Second time lucky, API has worked as it should.

This may sound odd to some, but it was really delightful waking up and seeing all those sell orders being executed.

How lucky we are to not have to enter all those trades manually … and then we can pull the data and upload onto STT and get an instant update on our P&L.
Back in the “old days” all that data entry would have taken up so much time.

[SteveWallbrink]

Hi Kate,
Good luck with IB / TWS and API!
I found it all a big learning curve too and IB generally to be a clunky beast rolling out my MOC system.
I too have a procedure sheet to get into a routine to implement the orders into the API.
I havent completed a full month of MOC trading yet – but it feels pretty easy to implement – human error has been my downfall this week – bringing the wrong laptop with me when travelling.
Steve

[KateMoloney]

Trading system passed the first week of techy tests. Traded one system & then a second.

Next week the goal is to trade 50% of the account balance & two of the strategies. By year end the goal is to be fully invested.

Also decided to name the strategy “The Buffett” as a reminder of how compounding investing returns and decades of investing can lead to great wealth. The R1000 strategy will be named “Brereton” because it is the street we rented an awesome industrial shed on. Our goal is to purchase our own shed and convert half into a house in Brisbane. As the saying goes .. happy husband, happy wife. My husband loves working on project cars on his time off. He is very creative with restoring old classic cars and is a big “why” I want to create wealth through share trading …. My Mum is another big “why” … helping her to build funds for her retirement.

[KateMoloney]

Last night I went through my MR system back test data and went through my daily P & L data (again) to examine worst case etc etc. I was also reading other peoples journals.

Just as well I did, this morning I logged in before market close and watched the account drop from a 1% loss to a 4.6% loss in the space of 20 minutes. The account overall is down 10.2% since inception, but all seems to be in line with back testing.

Knowing your potential downside in advance helps you to manage your emotion. And looking at it in terms of % rather than $ loss.

[KateMoloney]

Shout out to Craig this morning.

He’s been so patient with me, teaching me all the ins & outs of AB over the last few months.
15 minutes with Craig saves countless hours playing with AB and looking at the help section (not to mention saving frustration).

I find the more I understand my system and the coding, the more confident I am to execute the trades (regardless of the financial outcome).

It has been a blessing to have access to Craig’s detailed knowledge about coding & AB.

[JulianCohen]

Kate wrote:

Just as well I did, this morning I logged in before market close and watched the account drop from a 1% loss to a 4.6% loss in the space of 20 minutes

You’re not alone…My MOC is going through a protracted drawdown…Luckily the rest of the strategies are holding things up…

[KateMoloney]

Whenever I launch a new strategy I expect a drawdown….

The backtest shows max DD at 30% .. so 10.1% is well within range.

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