Posted by biketastic on 2nd of Jul 2009 at 09:05 am
We've had a few poor days with the systems; I understand and
accept the reasons for this. What's the view for today -
quiet and choppy or busy and volatile?
It still surprises me to see so many folks asking whether to
turn the systems on or off on a regular/almost daily basis. Guys,
look at your reports. Remember how many times in JUNE folks were
talking about turning the systems off or should they leave them on.
Well, looks to me that although NOT HUGE SKF 6 min and SRS 15 min
both made money in June. Now, if you had turned those systems OFF
after a "couple days" of losses, would you have ended the
month UP? Look at the reports - SRS - not a single losing month in
a year SKF lost a little in OCTOBER last year. Now if you are going
to pick and choose what days you play the system and what days you
do not - are you going to do better than this? If having losing
days with the systems gets in your head - lighten up your position
- your trading too big. I turned my system on FULL AUTO after one
day seeing a big loss staring at me after a day of whipsaw (and a
loss) the day before. I ALMOST shut it down with $1.50 loss on the
day - I finally convinced my emotions that the systems work and I
needed to let them run - that day the trade CLOSED UP $3.50. Ever
since then - the systems stay on and I am simply trading position
size that I can emotionally deal with on a losing day - or multiple
days in a row. I have an Armeggedon stop in my systems but it never
even came close to hitting in June - it's just my personal safety
net in the event things get real bad and I'm know where near my
computer. Unless you have a tested program that indicates WHEN to
turn a system on or off - you need to stick with the winners - SKF
and SRS have a proven track record. Matt first posted these system
in October 2008 - can you find any losses since then?
Totally agree with this and I believe that Michael has also
alluded to the importance of taking every trade of a mechanical
system several times.
However I figure that if anyone still does not "get" this
concept they will after they see a huge winning trade that would
have erased small losing ones IF they had only not turned off the
systems, or some such similar experience. In my case, it was
very early on with a too large position size with SRS. I took a
hefty loss when the system was down for the day and I sold only to
see it end the day exactly the same amount profitable as the loss I
had taken!
En fin, I echo your sentiments and agree that position sizing is
also important.
Posted by dodgerdog on 2nd of Jul 2009 at 09:10 am
Yes but we've had a few Outstanding Days on the Watchlist and
Trade Ideas - My suggestion is to diversify and by trading the
mechanical systems and several picks on the watchlist and or trade
ideas.
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systems on or off?
Posted by biketastic on 2nd of Jul 2009 at 09:05 am
We've had a few poor days with the systems; I understand and accept the reasons for this. What's the view for today - quiet and choppy or busy and volatile?
Systems On or Off
Posted by rgoodwin on 2nd of Jul 2009 at 10:28 am
It still surprises me to see so many folks asking whether to turn the systems on or off on a regular/almost daily basis. Guys, look at your reports. Remember how many times in JUNE folks were talking about turning the systems off or should they leave them on. Well, looks to me that although NOT HUGE SKF 6 min and SRS 15 min both made money in June. Now, if you had turned those systems OFF after a "couple days" of losses, would you have ended the month UP? Look at the reports - SRS - not a single losing month in a year SKF lost a little in OCTOBER last year. Now if you are going to pick and choose what days you play the system and what days you do not - are you going to do better than this? If having losing days with the systems gets in your head - lighten up your position - your trading too big. I turned my system on FULL AUTO after one day seeing a big loss staring at me after a day of whipsaw (and a loss) the day before. I ALMOST shut it down with $1.50 loss on the day - I finally convinced my emotions that the systems work and I needed to let them run - that day the trade CLOSED UP $3.50. Ever since then - the systems stay on and I am simply trading position size that I can emotionally deal with on a losing day - or multiple days in a row. I have an Armeggedon stop in my systems but it never even came close to hitting in June - it's just my personal safety net in the event things get real bad and I'm know where near my computer. Unless you have a tested program that indicates WHEN to turn a system on or off - you need to stick with the winners - SKF and SRS have a proven track record. Matt first posted these system in October 2008 - can you find any losses since then?
Totally agree with this and
Posted by Vida on 2nd of Jul 2009 at 10:47 am
Totally agree with this and I believe that Michael has also alluded to the importance of taking every trade of a mechanical system several times.
However I figure that if anyone still does not "get" this concept they will after they see a huge winning trade that would have erased small losing ones IF they had only not turned off the systems, or some such similar experience. In my case, it was very early on with a too large position size with SRS. I took a hefty loss when the system was down for the day and I sold only to see it end the day exactly the same amount profitable as the loss I had taken!
En fin, I echo your sentiments and agree that position sizing is also important.
looks like SRS will fire
Posted by billrosen on 2nd of Jul 2009 at 09:10 am
looks like SRS will fire off long today from the premarket activity
Yes but we've had a
Posted by dodgerdog on 2nd of Jul 2009 at 09:10 am
Yes but we've had a few Outstanding Days on the Watchlist and Trade Ideas - My suggestion is to diversify and by trading the mechanical systems and several picks on the watchlist and or trade ideas.