Well, today was a good example of trading a number of differnt systems at the same time. Both of my overnight systems were short (yikes, the market went up 200+ points today) but my day trading system went long in the morning.
The net effect was that I had a small loss of $800 due to the price movement overnight against me, and then was "coppered" (boy that is an old term) for the rest of the day. "coppered" means that I was short in some contracts and long in others, so the net effect is that I was perfectly hedged. No runs, no hits, no errors, except for the overnight hit.
Of course at the end of the day, my day trade longs were closed out and consequently I am now short overnight on the S&P 500 going into Friday, August 29.
One thing you should know. I learned how to trade from my father who traded since 1935 so time to time you will hear some of his old wisdom's come out.
Herman #1: (my father's name)
Don't ever short a thin market!!! Today was an example of this. Last week of vacation before the Labor day weekend, so not too much volume. My "quant" put me in a short position. He was right again!!!
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