Rules Update

Firstly I'd like to say that enjoy sarcasm and hope that others' enjoy it too. Holy grails obviously never work as mechanical systems, hence my sarcastic post last weekend about them. The only holy grail is goal setting, discipline and most of all apathy.

Rules Update:

1) BE APATHETIC TOWARDS THE MARKET!

2) No Sleeping on positions!!!

3) Stop Out when the setup gets negated.

4) Don't trade against reversals.

5) Take a break on a big loser.

6) ONLY trade my basket stocks EXCEPT on NEWS breakouts or breakdowns.

By the way, for the smartass out there who put me on HotorNot, using my own email address... I'm not really sure what to say about that? 92 isn't bad lol.

Friday 7th March 2008

A wild day... way too much risk... Got out pretty well considering. Thank goodness for the weekend! It was still a good week.

-$630

I keep getting asked for chart/analysis of my trades... so here's my most disciplined trade Friday:

Chart of the Day

At 1pm, took the 3 minute mini inverse pup, added some more on the 15 period touch, pared out for a good gain at the 20-band cross, then added some more on the 3 minute inv pup. Got out on the panic leans at 1:48pm for +0.50.

Thursday 6th March 2008

First down day in a week... all came from a stupid early scalp on RIMM with way too many shares... i never seem to learn. Was up 350 early in the day. Boo!

-$140

Wednesday 5th March 2008

Another good day... things are working out... again, very disciplined (relative to average) and scalped the breakouts/breakdowns nicely.

+$590

Tuesday 4th March 2008

Busy day... lots of crazy things happening. I didn't make the most of some of the good opportunities, then chased some others... usual problems, but did ok.

+$395

Monday 3rd March 2008

It's started well...

Today I was disciplined, scalped well... got in a very good rythm in the afternoon.

Just caught the TMA news too... BOOM!!

+$1030

The Holy Grail

Three years ago, while browsing the forums on the Tradestation website, it was then I came across my first instance of "the holy grail". Guys were chatting about the prospect of finding a strategy - a mechanical strategy - that one could trade with, and essentially print money untill their heart's content. Of course none of these guys had found the holy grail, but they were sure intent on looking.

I was skeptical about this holy grail. If one existed, surely it would exist no longer, because everyone would be on board and the market would crush them... wouldn't it?

Yes.

Hence none existed.

But no, it does exist. Over the past two years, through much delight and much loss, I know I have found the holy grail of trading. Before everyone gets excited, it's not a strategy that I can program in Fortran and hand out at $2000 a pop. It's not an overnight fad. It's not a method that will last for a week, and then reverse and crush an individual. This is tried and tested. This is true. And I believe I have found it.

My lowest low was the best two weeks of trading ever. Up $5500 in those 9 days, it seemed nothing could stop me. And that's exactly what did. After that, it was found.

The holy grail.

But it needs tested. It needs proof. The testing begins March 3rd, 2008.

Let's see what happens...