The day started off very well with the software firing off 2 signals; one in the Yen which gave me 350.00 in profit and the other in the Stoxx for a 70.00 euro profit. A little later in the morning I placed a stop limit order to sell the Russell, but to my horror found I was immediately filled at market BEFORE my trigger price was hit. That wiped out my earlier profits! GRRRRR! I was quickly on the phone with clearing firms tech department and were able to find the problem was with the data feed going into my charts NOT the data feeding the signal software. After working with the techies, we were able to resolve the problem and now we are ready to rock!
What had happened was the chart did not print the low accurately on a fibwit signal candle. I therefore placed my order not at the trigger price, but at the low - right where the market happened to be at that moment. As I type, the software is telling me to buy the YM !!! LOL
Without going into a whole whack of technical mumbo jumbo (which I’m incapable of doing anyways) it looks as though we can roll out the signal viewing/generating software on Monday! The issues we had with speed have all be fixed and to test it I did a quick trade in the Euro with 7 contracts and took a $350.00 dollar profit. This thing is lightning fast now! Old, untriggered signals drop off immediately when they are supposed to, and any new signals are displayed at almost the same instant! Can’t wait for the markets to open now! Hope everyone is having a terrific weekend and we’ll see you on the open!
No, I didn’t fall off the face of the earth.
Between the July 1st long weekend and the July 4th holiday in the U.S. the liquidity in the market was pathetic. Knowing this would likely be the case in advance, I opted to take a few days of R and R and visit with family that came up to the lake. A little nifty news on the trading front though. We are almost finished building a very cool piece of software that is programmed to seek out our trusty “Fibwit” signal! It will scan approx. 15 markets and report back within a second or two any trading signal it finds. If all works well, it will make it possible to trade without charts - just do what it says! The software will be our eyes! Starting tomorrow, I will attempt to get filled as many of the signals as I can that the software finds and reports. In theory, it should greatly enhance returns as there would be very little wasted time and missed opportunity due to chart “reading” and/or looking at the wrong thing at the wrong time. I know for a fact I cannot possibly watch 15 markets! Not a chance! But I do have 100% faith in the signal, so if the computer can assist me in detection, all thats left for me to do is just pull the trigger on what it finds… very efficient. IN THEORY…lol
If all goes well over the next week or two, it will be made available to the public. Of course, testing will be done live… my trade platform and the signal viewer will be broadcast live to those in the room. Anybody interested in watching this little test phase, just shoot me an email and we’ll squeeze you in for a looksy. Cya there!
Life happens…
Life Happens, and sometimes it actually interferes with trading. Yeah, yeah, I know its hard to believe, but it does happen ( a plumbing issue if you must know) - just ask Erich! *wink, wink*. The good news about today however is Bill not only called out a trade to the group, he pulled the trigger on it with his first 2 lot and smoked the ES for 4 ticks! Awesome! Not to be out done, Ish confessed to me earlier in the day that he’s on a bit of a winning streak himself. Way to go! Perhaps I should let those guys do my trading for me? Hmmmmmm. Alas, nothing for yours truly, but having you guys making some bucks is an even greater reward for me! Have a great weekend all.
It was yet again that time…FED DAY. My little house rule absolutely forbids me to trade during the day of the overnight rate announcement by the FOMC. If ever you are in danger of being whipped, today’s the day!
Today was the day that broke the camels back… so to speak. With
the incredible volatility we have been witnessing for the last few
weeks in the index futures markets, I’ve decided to set my targets
on a few different markets… namely the GRAINS.
I’m going to spend the next few days studying their movements as
they relate to my signals and setups. I will be trading them for
real, but on kind of a “experimental” basis to see how well they
fill - or don’t fill, so you are NOT allowed to hold my P/L against
me during this trial period LOL! Of course, you can’t hold it “for”
me either…this is purely a learning experience and I will
document my progress throughout it.
As for our room trades today, I was completely shut out due to risk
parameters, (I learned that a few stock traders got really smoked
today in the incredible volatility - VIX up over 3 points!) however
Bill and Ish did a great job banking some nice profits!!! WAY TO GO
GUYS!
It is because of this volatility in the North American indexes that
I’m looking elsewhere for greater opportunities, with less risk. It
is just getting way too whippy! Let’s see how things go in the
soybean and corn markets tomorrow.