Sunday, November 13, 2005

Oh Shit...maybe I really need another job!

Having a losing day is part of the job description and should be compensated by your winning days.

Having a green day is fine and will let you feel good. But my new Add-On to the Backtest Module gave me the answer I maybe knew in my heart, if only I  looked deep enough, something I avoided sofar.

I have a good discretionary system, my entries are fine and I have a positive edge.

BUT, but I screw up totally, when it comes to trade-management. Something about 300$ for the day is nothing big, but green is green I always thought. But the same entries, no additional trades, no trade not taken, just the same trades managed differently could have given me + 2,000$. And these results are not extremly optimized. Optimizing can make the results look even better, if I accept the price to accept bigger losses, if the trades go against me.

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In the Trading frame you see 2 new buttons S and L (Short and Long), which will let you open a trade manually. Once in the trade a click on the then visible Cover button will cover the trade.

To monitor your trading, you select the TWS Real/Playback datafeed, you select Tradesignals as tradesystem and then enter the trade in the backtest module at the same time as you take the trade in real.

For registered users this is done automatically once you select the new “Monitor real trades” Tradesystem. (Start FT and click ?/about to request a trial) A trade is taken in the Backtest module, the moment you open a real/demo trade in the Tower or the Tradedesk for the symbol selected in the Backtest module. The trade is covered (if still open), once you reverse the trade direction in real trading.

At the end of the day, click Stop and switch to the Tickpool datafeed using the Tradesignals Tradesystem. This way you can easily replay the day using different parameter. You might also save the Tickpool data for later use.

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Of course this works as well over the weekend, when you decide to invest some time in trading a playback from Ensign or ESignal. I have added ticktime information to the Playback datafeed, so FT is now able to display the Playbacktime instead of the current Realtime. (You will need to update the FTlink.spt file in Ensign with the new one provided in the current release)

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It might be just me, but I found myself adjusting the Start and Stoptimes quite often, so I added 3 buttons to preset different times.

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Set the time, right click a button to save it and left click on it, to retrieve the information later.

If you want to share your Backtest settings, there is now a faster way than sending pictures: Right of the Backtest-Strategy there is an I(mport), E(xport) button, which will Import an existing Strategy or Export it to be send by mail to someone else. Globetrader_143

The Backtest-Strategy files are saved in the \program files\Futures-trader\Backtest subfolder. Be aware, that Outlook will not allow you to receive a Registry file. So you will have to compress them first or use a different extension, if you mail them to someone using Outlook.

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