Magpie Trader
Tuesday, November 01, 2005
New tack
In a couple of weeks the blog will be changing tack from a trading point of view - I'm going to go on a journey of increased trading discipline. I have my system that I'm happy with, my money management is adequate but needs longer term 'living with it' analysis. So, Although i'll be trading normally, I'll also be trading another account with a very small starting budget that will teach me the value of trading in a very disciplined manner in order to not affect margin or put the account through too much strain. The figure is yet to be decided and will be in pounds, it'll be with Deal4free (UK spreadbeting company) and i'll post a screen shot of results at the end of every day traded.
My intention with is exercise is to quite simply learn more, especially the intricacies of money management in relation to the signals that the system generates. For example, the signals are in the process of being graded for profitability (from a historical view point) and this will be looked into with a view to clearing some of the greyer areas. Effectively this will be my live thesis on trading, how I understand it and proof for the future. Trades will be documented in detail with a view to provide a document over time that will provide a concise framework from a trading signal and related money management point of view.
It will also force me stay away from overtrading for good, due to lack of funds in the account. Over trading is my main problem and although it's reduced by a considerable margin it raised it's ugly head recently and put a serious dent in the profits.
It's set up at Magpie trader - a new tack
My intention with is exercise is to quite simply learn more, especially the intricacies of money management in relation to the signals that the system generates. For example, the signals are in the process of being graded for profitability (from a historical view point) and this will be looked into with a view to clearing some of the greyer areas. Effectively this will be my live thesis on trading, how I understand it and proof for the future. Trades will be documented in detail with a view to provide a document over time that will provide a concise framework from a trading signal and related money management point of view.
It will also force me stay away from overtrading for good, due to lack of funds in the account. Over trading is my main problem and although it's reduced by a considerable margin it raised it's ugly head recently and put a serious dent in the profits.
It's set up at Magpie trader - a new tack
// posted by Magpie @ 12:11 pm 
