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TimothyStricklandParticipant
Nice results
TimothyStricklandParticipantSystems were chugging along until the FOMC wiped out all profits for the month in my systematic strategies. On the upside I caught a 140 point move on the Nasdaq in my futures account.
MR HFT: -1.6%
NDX Aggressive: -0.1%
ROR: -0.7%
SPX Momo: +0.3%
Opening Range: +17.5% likely an outlier (Most of the profits came from the FOMC move).TimothyStricklandParticipantI went live on my Futures Discretionary this month. I found that trading discretionary is a heck of a lot easier than it was before I took this course. My guess is because all the discipline I have learned, probability, patience, emotions, understanding how the market works in general. I am now bringing a more disciplined view to my discretionary trading.
So far the results have been good. It is much harder to quantify my results so I have been using how much money I am putting up at risk each trade and how much profit or loss I incur from that amount. I have been consistently doing 1 index and 1 contract to make the numbers easier. I scalp only so I am in the trade for a few minutes at a time, sometimes seconds.
TimothyStricklandParticipantWow, they optimized the heck out of that time period. My guess is they took it live in 2018 and blew up the account?
TimothyStricklandParticipantUnaware of any but Scott is right. My MRV typically has had drawodowns at different times then my momentum system. Currently my MRV is in drawdown and my momentum system is not. Not sure about MOC or WTT but I’m sure those have different drawdown periods as well.
TimothyStricklandParticipantI was going to start putting money into the ASX growth Nick runs but we had a few real estate opportunities that came up, I would like to start doing the ASX growth very soon once we close on these new deals, its on my list of investments.
TimothyStricklandParticipantToday is a huge milestone for my wife and I. For those that don’t know I came from a very poor family where it was hard to purchase shoes and clothes even. My parents are still struggling financially, so much in fact that I have more money in one trading account than they have saved combined including their retirement account. One of my goals is to help them if I can.
My wife and I both have 6 figure jobs which we worked hard to get and move up. Our goal has been to save at least 50% of our take home income and we have surpassed that. This has taken several years and we started just trying to save 25% as we had lots of debt years ago. We have paid down all of our debt to 0 and are now saving nearly 65% of our income. Our next goal is to hit 70%, will likely need to make more money from my Amazon business to do this. We have lots of different investments similar to what Nick does, I am trying to follow in his footsteps and let compounding work its magic over the next few decades. Any spending we do is on necessary items, educational courses and emergencies, anything else we typically put off till later. Our investments include:
My 401k running a 10 MA strategy
Her 401k running a 10 MA strategy
My mean reversion system at x2 leverage
My aggressive momentum system, no leverage
SPX momentum system
Discretionary Futures trading system
Multi-unit apartment deal
Multiple Creative condo/single family home real estate properties
Amazon Business (relatively new launch) but already starting to produce profits
Gold and Silver hedging (Physical Gold and Silver not futures).
Emergency Savings plan (cash only)
Medical savings planWe are looking at anyway possible to continue saving and growing our investing budget. All you guys’ post have been great and continues to give me lots of ideas, keep it up!
TimothyStricklandParticipantMike, I do not although I will look him up and see what he’s doing, maybe I will learn some ideas.
For the 1 minute candles I trade the first opening hour of the market. 1 minute candles, futures @NQU (Nasdaq Contract) only.
The system looks for support and resistance and trades based on candlestick formations (Steve Nisson).
I have heard so many people quote Steve Nisson I figured I’d just go learn straight from him, this was years ago.
TimothyStricklandParticipant1 minute candles! lol
I am in and out of trade in a few minutes usually. Typically during the open only.
TimothyStricklandParticipantMR HFT: +3.3%
NDX Aggressive: CASH, Moving to Tradestation
SPX Momo: +0.5% (BONDS ONLY)-Simmed accounts-
Futures Discretionary: +9.2% (not sure what I will call this, likely “opening range”) Will be on sim for awhile
TimothyStricklandParticipantHedging my broker risk finally and a perfect time since some of my systems are out of the market.
I am leaving my MRV system in IB since they have a lower commission drag for active traders. I am putting my momentum system into Tradestation. I am also allotting some capital to a new futures discretionary system I have been working on.
TimothyStricklandParticipantThey also lied about the number of trades they have taken or their string of losers. They said they had made over 1000 trades. I said, well, according to your 68% win rate, the possibility of only having 2 losers in a row is mathematically impossible, in fact, you are guaranteed to have at least 3 losers in a row and almost guaranteed to have 4…
TimothyStricklandParticipantNick,
We had a conversation the other day about someone trying to sell me their idea about giving them money so they could have a trader make more money. I did more digging and found out how they came to their stats.
They had less than 4% drawdown. 68% Winrate and they had an average winning trade made 52k, average losing trade made -74k!? but they only had 2 consecutive losers ever in the entire trading history and 9 consecutive winners.
The numbers made no sense, come to find out they were fudging the numbers of course. What they were doing was only counting trades that were currently in their drawdown parameters but not counting all the trades that they haven’t closed that were in a serious losing position. They were waiting on trades to “come back” from a losing position that had exceeded their max drawdown allotment and wasn’t counting that trade lol. I was like, that’s silly, what happens if it never comes back? They said they would just never close the trade then. I then asked, won’t you run out of capital? That didn’t say anything. There are some real transparent people out there in the trading world, that’s for sure (sarcasm).
TimothyStricklandParticipantAfter recent events of getting in and out recently I have been entertaining that idea as well. I know very little about options though, I would need to learn more about it.
TimothyStricklandParticipantSo far this is the 2nd time Nick’s advice has come true. “When your system is in drawdown, add money to your account”. I have done this twice, once when my momentum system was in drawdown and recently when my MRV system was in drawdown. The momentum system climbed out of it and my MRV system has almost recovered half of its drawdown this month.
If anything the lesson I have learned is that drawdown’s aren’t bad, they are merely part of the process and if your system is near its max drawdown, then it may be more likely that it will be climbing out of it soon if it was tested correctly.
Today happened to be a picture perfect MRV day. The market dropped, got me in a bunch of trades and then rallied until the end of the day, it was interesting to see.
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