As you watch my journey during this year long trading contest, I encourage you to comment, ask questions, etc.
I can't give specific details about what I am trading, but I can provide general info about my strategy, and some specifics about my money management and position sizing.
Thanks in advance for your comments!
P.S. You can also be notified via e-mail when I post something new. Just look for the "Follow by e-mail" link.
Hey Kevin - haven't seen you post recently at Dr. Al's site. Are you still daytrading EC/ES using PA?
ReplyDeleteThanks for the comment. I had 2 discretionary trading systems going in Spring-Fall 2011, based on Al Brook's Price Action Trading. In Sept 2011, I did a scheduled review of all my systems, to see which ones I should continue, which I should discontinue, etc. My 2 Price Action systems did not make the cut, so I do not trade them anymore.
ReplyDeleteIn a typical year, I'll usually drop a couple of systems, and pick up a couple of replacements. Survival of the fittest...
I like the idea on Price Action trading, but for me it always seemed I was one step away from great success with it. But no matter what I did, I was still one step away.
For what it is worth, I personally have more success trading systems I can thoroughly backtest and evaluate.
The system I am trading in this contest, for example, is based on over 550 past trades. So I have a good feeling it will work. Stay tuned!
That's what makes you great Kevin...the ability to cut your losses and just move on from a method/system that is not making the cut. Best of luck in the competition. I'll be rooting for you!
ReplyDeleteThanks! Becoming emotionally attached to a system is a big problem. If you know you are that way, you can fix the behavior.
ReplyDeleteSpeaking of knowing yourself, that is one of the "keys to successful trading" I'll be discussing at the Feb 29, 2012 Traders World Online Expo (www.tradersworldonlineexpo.com). It is free!
Thanks again, please keep in touch!
Hi Kelvin, good to see a blog of live trading. I have always been interested in following the World Cup Trading Championship.
ReplyDeleteHow many trading systems are you using? What is the methodology that you are using? How many markets are you applying the systems on?
Thanks! The World Cup is the premier trading contest out there. For those who do not know, it is the one that made legendary trader Larry Williams famous.
ReplyDeleteI trade 10 systems currently in my personal accts. They are a mix of different styles, markets, timeframes, etc. Some trade one market, some trade multiple markets. I am a big fan of diversification.
For the contest, I chose just one of these systems, a low margin one (which when things go right will left me add to winners). It trades up to 22 different markets, not all at the same time.
Thanks for commenting! Please visit again soon.