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| Wednesday, March 07, 2007 |
| Trading Systems |
To reiterate what happened in the correction, I realized that there are several pressing issues I need to address.
1) Entry Point
- Which to trade?
- What criteria?
- Which takes priority over selection?
2) Position size
- How much to hold?
3) Stop loss strategy
- When it triggers?
4) Exit strategy
- When to exit a winning position?
5) Risk management
- Controlling loss
6) Stronger mentality
- I knew it was never right to check the quotes during the day
- I always knew that trading during the day, other than those that hit the stop loss, is wrong.
- I always understand that intra-day noises should not affect my positions.
- I always understand that to win, one must accept losses.
- I always understand that this is long term investment and should never compare myself with peers with better returns.
.....but yet I repeat my offenses again and again...
To prevent this from happening, I have decided to codify my rules. Position sizes and test criteria will be mechanized. Exit and stop loss strategy will be mechanized. Rules will be placed to govern my actions. No emotions should be attached to the system. No fear, no greed.
In fact, I am in development for the system at the moment. After going through bull and correction, I have a good feel of how to react...
Wish me luck in successful development..Labels: NenixDreams Fund |
posted by Nenix @ 10:47 AM   |
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| NenixDreams Fund |
| Fund launchprice on 1st August 2006= $1
Target for 2007 = Beat STI index
Current price of NDF as of 1st Oct 2007 = $1.58
Current price of STI as of 1st Oct 2007 = $1.54
Difference with STI index is 0.04
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