About this blog

This blog was started as a whirlwind. So these objectives are laid out on the top as a reminder to me and for you to remind me. These objectives will change accordingly. Do praise or criticize me for keeping to my plan or deviating from it. This is the start of accountability to my plan.

There are Twitter updates, if you are my friend please identify yourself when you add to your follow list.

Long term objectives
1. To be financially independent so that I can free my time in devoting to God and Family.
2. Money is for memories. I want to take my Family to Disneyland in 2014. I want my daughters to remember this for life. I can also take this to my grave.
3. Trading as a vehicle to secure my daughters' future education requirement.
4. Continued learning/evolution of myself and the markets.
5. This is not for fun, it is a means for an end. Be very ruthless!

Friday, January 29, 2010

Forward tesing with my EURUSD bot

Set this up to trade all day. The objective is to find which is the best time to trigger to bot to action. Let's face it, time is an element that traders need to consider along with price. I'll let this run for 2 months and determine which of the times I will let the bot lay low and when I should trigger it.

This is the stats. You can keep by bookmarking.



Wednesday, January 27, 2010

Forex

After some fair results in futures, I decided to move to FX. There are several reasons to this move.

  1. I do not have full mornings 3 days a week to trade futures. I am currently back to school in Toronto, Ontario, Canada. Mondays are too slow, Fridays are a little too crazy sometimes.
  2. FX can be held 24/5. Starts Sunday 6pm EST and ends Friday 6pm EST. Positions can be held overnight.
  3. The contract or lot size is variable. You can trade sizes less than 1 lot. For example, 0.22 lots for EURUSD = 22,000 EUR. A full lot is 100,000 EUR. The futures contract is fixed even for 6E, The CME equivalent of EURUSD.
  4. With the above in mind, I can vary my risk according to my targets. And example will be I can trade with 0.1 lots minimum with a target of 50 pips and a stop loss at 100 pips. I won’t gain much and I won’t lose a much either. The bottomline is I have gains.
  5. FX Robots. Yes, some might say where is the fun in trading using robots. This is a business not for entertainment. Bots do take out the emotional element. Some of us, how strong we are do get knocks emotionally and it affects our trading performance. Bots follow a plan to the strictest of rules which we sometimes bend or break.
  6. My belief is that bot trading is going forward. We electronic traders have more or less displaced pit traders. Now it is our turn to be displaced by bots. Now it is who programs better logic to their bots.
  7. I am trying to learn more about C# in school and hopefully program a bot based on Ninjatrader.