Oops, 7 Days. Hey look I don't update on weekends.

My current trade is ranging

Well, after a bit of encouragement from you motley crew to document my trades I may even get my shit together and bore you with it in a blog. Until such time I'll just post here as to what's happening to my trading account.

EUR/USD

My last trade took 14 pips and my current trade is short. The trade is just wafting along like a rudderless ship. This can go on for days or resolve itself in an hour with a sudden move.

System trading is not like discretionary trading. The discipline in system trading is to sit tight in a trade even if it's going the wrong way.

In trading you're always fighting greed and fear, the two emotions that drive the market. I long ago discovered that I'm suited to mechanical trading. Other people perform better by trading with their intuition, it just doesn't work for me.

An interesting concept I've been reading about recently is adding a meta system over your existing system, using your trading results to make decisions on whether to increase or decrease your risk in the market.

I think another word for it is a martingale system?

http://en.wikipedia.org/wiki/Martingale_%28probability_theory%29

This OSS library is one I use quite a lot:

http://ta-lib.org/

And an OSS charting package for the penguin-inclined written in C++ with Qt... quite fun if you want to see how a charting package is coded.

http://sourceforge.net/projects/qtstalker/
Permalink Bluebeard 
July 17th, 2007 3:18pm
Dewd!  How long does it take to unzip WordPress to a directory on a web server and edit a post?

Damn.
Permalink Send private email sharkfish 
July 17th, 2007 4:55pm
"Other people perform better by trading with their intuition, it just doesn't work for me. "

Irrelevant, I say.  You can have all the intuition in the world, but if you are not sitting there, available at the right, exact moment to click the buy/sell, then it's not going to do as much good as it could have.
Permalink Send private email LinuxOrBust 
July 17th, 2007 11:18pm

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