Tech/a vs. CanOz - Futures Trading Competition

[CanOz]

Perhaps you should start after the new years binge drinking contest (the true pissing contest). Us little people who only trade on the ASX will be drunk and the markets will be closed! Too drunk to read what some futures market is doing somewhere else

Enjoy...Don't drink and drive!

 

[notting]

Play the game not the player, that's my tip.
May the best man win.

 

[pavilion103]

Oh wow. Interesting.

Tempted to throw my hand up, but might leave this to the big guns to shoot it out

 

[ThingyMajiggy]

Winner has to take on TH trading the Seng

 

[tech/a]

Tech, I'd like to raise the capital requirement to 35,000 AUD if its ok with you? After i did a little bit more research i found a couple of instances where i would have been over my 2% stop with a 25k account. So just to be on the safe side, i should use a little more capital.

Also, regarding the start date, I should be right to go next week as i scheduled all the transfers to finish by the 29th. So if you agree we can start anytime from the 29th...?

Cheers,


CanOz

$35 k ok

I have an account with $34 now so fine.
I wont be starting until the week of the 6 TH
Not fussed how long
3 mths as a start or finish is fine.

 

[kid hustlr]

Looks very interesting. lol @ bringing Larry Williams in reminds me of that guy on the bulls + bears thing I posted a few weeks back.

Especially interested in how you go about the calendar spreads Can I do a lot of intra day spreading stuff myself (inter-commodity not calendar) so will be nice to see a different point of view.

fwiw I hope there's no 'shot taking' in this comp for the sake of winning the comp. I'm just interested to hear how you guys are going about it on a day to day basis.

Hopefully there's some volatility over the next few months to make this interesting!

 

[snsdmonkey]

Good luck guys, should be interesting.

 

[CanOz]

Four of the trades are shaping up nicely but copper is not cooperating with the seasonal trend YET.

 

[kid hustlr]

Can, when you have the note there saying ' Coffee - sell from Jan 5 +/- 10'

I assume that means you are looking to sell the spread (ie sell the front buy the back) any point from now up until the 15th? Am I reading that correctly?

 

[CanOz]

Can, when you have the note there saying ' Coffee - sell from Jan 5 +/- 10'

I assume that means you are looking to sell the spread (ie sell the front buy the back) any point from now up until the 15th? Am I reading that correctly?

Yeah, that's it.

 

[CanOz]

Starting account balance.

 

[pavilion103]

GL fellas.

Will there be regular updates?

 

[tech/a]

Only the winning trades--!!!!

 

[CanOz]

GL fellas.

Will there be regular updates?

Its really up to the individual but we agreed on weekly equity updates.

Then the final equity and trades to be verified by Joe or a mod.

 

[pavilion103]

Sounds good!

 

[skc]

Its really up to the individual but we agreed on weekly equity updates.

Then the final equity and trades to be verified by Joe or a mod.

How do you police "max 2% risk" rule?

Broker statements are not going to show where your stop was when you entered the trade. Do you simply look at realised loss (which would be difficult for spreads as you can have a loss >> $500 on one leg which the other leg is well in profit)?

Or may be it doesn't really matter?

 

[tech/a]

I'm not fussed if this limit is lifted.
If I get over 2% Ill be sticking my head in a bucket!

 

[CanOz]

Regarding risk ... thats why i put it this way

-Risk per trade should be 2% or less.

I'll do my best to manage my risk within the limits, but i cannot guarantee i won't go a little over due to the nature of spread trade management.

Its in my interest to manage the risk.

 

[pavilion103]

Don't know why there has to be a limit.

It's not like anyone is going to just put $35k on red or black to win the comp haha

 

[CanOz]

Don't know why there has to be a limit.

It's not like anyone is going to just put $35k on red or black to win the comp haha

Yeah exactly, but it is good to have a target for how much to risk on each trade, as you know it makes up part of the math that will determine whether the trade management together with the edge is profitable.

Its good for newbie's to realize as well that we're trying to control our risk, as we cannot control the reward.

In most cases i won't be using hard stops, only a level on the spread chart. So its hard to place risk management stops on the individual legs. On some contracts a protective can be used...