It was tough placing my buy orders this morning

[frugal.rock]

What's with the large volume being traded?
Nearly every stock I look at is trading well above average volumes...?
Please explain?

F.Rock

 

[MovingAverage]

Got to be honest, the market has got the better of me. I trade two different trend following systems and my swing system. I pretty much overrode all my systems today and closed out all my positions. I’ve found it mentally too tough to continue trading in this market despite what my backtesting tells me. So I’m now pretty much 100% cash (with the exception of a few discretionary positions). I give in.

 

[sptrawler]

What's with the large volume being traded?
Nearly every stock I look at is trading well above average volumes...?
Please explain?

F.Rock

Maybe the big super funds, have had a lot of 'baby boomers' close to retirement, ask to be changed over to cash?
Those with a year or two off retirement are probably saying, at least I will know how much money I have, to plan with.
I mean, if Moving Average has tossed in the towel, what would Joe average do.

 

[qldfrog]

Got to be honest, the market has got the better of me. I trade two different trend following systems and my swing system. I pretty much overrode all my systems today and closed out all my positions. I’ve found it mentally too tough to continue trading in this market despite what my backtesting tells me. So I’m now pretty much 100% cash (with the exception of a few discretionary positions). I give in.

Sad but i understand, when I see the thousands lost everyday on a system i want to close anyway, i wonder as well and nearly did a manual sell for that system.
Not sure such a good move for your day system, you will have up and down in any trend..but true on today's red only market, where is the trend

 

[InsvestoBoy]

The trials and tribulations of a system trader during regime shift...a story in quotes...

Have to admit is was bloody tough placing my buy orders this morning knowing that the broader market was going to get absolutely smashed again today. My system generated a number of buy signals this morning but the voices in my head were telling me that I was completely loco and reminding me of the doomsday headlines running in the media about world markets experiencing their biggest single day crashes in years--apparently the media believes Armageddon is upon us. Despite my system simulations clearly showing me that my system performs well in market downturns it was tough with those voices going on in my head. Anyway, convinced myself to stick to the system rules and ignore those negative voices in my head and placed some sizable buy orders this morning--don't fail me now system. This trading game sure does mess with your head.

As someone once told me, plan the trade and trade the plan.

There will be some good buying that is for sure. As the saying goes...buy of fear sell on greed.

pffffft...who said the market was being slaughtered by the Corona virus There's money to be had where others fear to tread.

Got to admit I pretty happy with today--I wish the market would crash more often . Stick to the rules of your system they say.

Morning ASFers, another day and another bunch of opportunities to be had (doing my best to keep a positive mindset).

Changed my usual morning routine this morning to help me deal with the head F...k I was dealing with yesterday as a result of the nasty overnight activity and news. First thing I normally do in the morning is to checkout the overnight activity to see what's been going on. Well this morning I didn't do that so I have no idea what has been going on, which made it a little easier to place my orders without the voices in my head tell me I was an idiot to participate in such a crap market. Ignorance is bliss they say. Interestingly, I did find myself wrestling with a little over-confidence this morning after my trades yesterday. At one stage I was contemplating upping my trade size, but talked myself out of it and sticking with my usual tried and tested position sizes.

I'll be adopting the same approach tomorrow as I did today--stick my head in the sand and ignore the overnight market activity.

I'm not a shorter but if I was I'd be all over index ETFs...there's sure to be a bucket load of cash to be made from shorting index ETFs at the moment.

I don't trust my discretion so I'll stay well clear of that.

Am I worried about trading my swing system in the current market...probably not.

Taking the same approach today...haven't looked at overnight activity.

Must admit I'm finding it mentally a lot easier to take positions in the bliss of ignorance that comes with completely ignoring media.

Have to be honest, I'm still very comfortable about trading this system in the current market but AVH does worry me a little, but I'm sticking to the system and will do what its telling me.

The market allows me to do what is important...so yes I think about it everyday

Here is where I have to come clean about an indiscretion--I'm pretty bloody minded about sticking to the rules of my systems and have been pretty good over the years, if my systems say buy I buy and if my systems say sell I sell...nothing more and nothing less matters. Well getting back to PRU--I entered it today at exactly 0.90. All well and good until I sit down at my computer around lunch time and notice PRU hovering around $1. Oh crap, I'm thinking to myself that's a good run up in price given this morning's open decline and I'm feeling a little nervous about giving up a circa 10% gain on PRU this morning particularly given the size of my trade and the unrealized healthy profit. I'm telling myself do nothing and run the system tonight as I should (it's an EOD for buy sell setups), but I caved in and hit the sell on PRU and bagged a little over 10% profit. I know I should have done nothing and run my system at close today, but I just couldn't ignore the profit given the crappy state of the market. Shame on me, so feel free to strip me of my system trader title and call me a discretionary trader from here on

My weekly system getting a beating now.

Oh well, drawdowns are part of the game I guess. Stay the course.

Have to admit, trading in this market is really starting to hurting my head but that is probably coming from looking at the performance of my trend following systems as opposed to the performance of my swing system (which seems to be holding up reasonably well and still picking up some profit here and there)

Can't wait for this bloody market to find some support.

Got to be honest, the market has got the better of me. I trade two different trend following systems and my swing system. I pretty much overrode all my systems today and closed out all my positions. I’ve found it mentally too tough to continue trading in this market despite what my backtesting tells me. So I’m now pretty much 100% cash (with the exception of a few discretionary positions). I give in.

 

[MovingAverage]

Maybe the big super funds, have had a lot of 'baby boomers' close to retirement, ask to be changed over to cash?
Those with a year or two off retirement are probably saying, at least I will know how much money I have, to plan with.
I mean, if Moving Average has tossed in the towel, what would Joe average do.

I really do feel sorry for average Joe—his/her super will take a massive hit from this.

 

[sptrawler]

There is one thing for sure, this has given the novice investor, a taste of the 'real action' in the market.
This is more like the 1987 crash than the GFC IMO, you will probably be able to get a T shirt with the '2020 crash' on it soon.
The GFC China really cranked up stimulus, I certainly hope they do so again, but I wouldn't be holding my breath.

 

[sptrawler]

I really do feel sorry for average Joe—his/her super will take a massive hit from this.

Yes a mate of mine close to retirement, was asking a couple of weeks ago what I thought, I said it isn't my place to say but the market is high.
He hung on untill the virus hit, then hit the panic button, it will be interesting to see how much he is affected I will let you know the %.

 

[MovingAverage]

The trials and tribulations of a system trader during regime shift...a story in quotes...

At least I’m admitting defeat and can live to trade another day

 

[InsvestoBoy]

At least I’m admitting defeat and can live to trade another day

Hey don't get me wrong, not trying to make fun of you, I just thought your posts made a really good compilation of all the behavioural stuff that systems traders always end up eating during regime shifts.

It's easy to follow the system when everything is going your way.

 

[MovingAverage]

Hey don't get me wrong, not trying to make fun of you, I just thought your posts made a really good compilation of all the behavioural stuff that systems traders always end up eating during regime shifts.

It's easy to follow the system when everything is going your way.

couldn’t agree more...it’s one thing seeing your systems trade through downturns in a backtest, but it’s another thing trying to live trade through this crap. But it is ironic people like you only come out and post when people like me admit defeat.

 

[sptrawler]

Yep these ones you either buckle up, or bail out

 

[sptrawler]

couldn’t agree more...it’s one thing seeing your systems trade through downturns in a backtest, but it’s another thing trying to live trade through this crap. But it is ironic people like you only come out and post when people like me admit defeat.

I think you did great, you held ground a lot longer than most would, but when you jump in and you can't feel the bottom eventually you have to come up for air.
One thing I personally have found, is you have to understand yourself, I have enough in cash that I actually don't worry.
At the end of the day you have to have a balance that you can live with, otherwise it will ruin your health and sometimes a marriage. Times like this put everything into perspective, people can only reason from experience, this is one of those experiences.
Just my opinion

 

[sptrawler]

I really do feel sorry for average Joe—his/her super will take a massive hit from this.

This is exactly the times, where the people that @Smurf talks about, get hurt the most.
Those between 55-67, in times like this they get laid off, their super has taken a hit and they are on newstart allowance. There is very little chance of re employment and they have to manage through to retirement age, you really have to feel for those especially IMO.
They seem to be the forgotten generation, that falls through the cracks.
Just my opinion.

 

[frugal.rock]

Here's a thought for systems traders...
What if you were to backtest daily 10 minute bars as if bars were daily?
So 35 bars per day equals 35 days, backtest over 5 days or 175 bars, the equivalent of 175 days...
Pick an equivalent volatile period for comparison?
Would that help as an idea?
Just a thought...
Wish you all the best Moving Average.
Maybe look at the long haul picture?
Z1P years low hit again today and pushed lower, NCZ & BUD same, TYR all time low..., EN1, etc
Sit back, watch the shite hit the fan, buy the ridiculously oversold that aren't immediately in the firing line, would love to short Qantas, Webjet etc but be prepared for the weakness, strength at the moment is pump dump material...

F.Rock

 

[MovingAverage]

Here's a thought for systems traders...

Wish you all the best Moving Average.
Maybe look at the long haul picture

F.Rock

You know f.rock...i've been posting everyday on this thread about my experience trading through this market and for the most part you (and @InvestoBoy) have been completely silent. Now that I admit defeat you decide it is time to post. Don't take me the wrong way, but I haven't seen you posting on ASF about your day-to-day experiences of trading through this market so I question the value of your comments. I guess it is pretty easy to come out and throw rocks when you have absolutely no skin in the game and I suspect you have just been sitting on the sidelines waiting for me to admit defeat so you could chime in on my thread. I'm a firm believer in the saying that if you don't have anything constructive to say then don't say anything at all

 

[qldfrog]

At the end of the day you have to have a balance that you can live with, otherwise it will ruin your health and sometimes a marriage. Times like this put everything into perspective, people can only reason from experience, this is one of those experiences.

excellent
But today for the first time I saw some values and put some buy for the open on monday based on P/E domain, non system ones not gold, not inverse index...
Pure solid companies I find now very cheap.time will tell;
But there is money to be made:
Sold more BBOZ another FMG put warrant..I know we have some FMG fans here: thanks!
in the last 6 weeks I bought 4 FMG warrants and 1 QAN for 85% return average, holding them an average of 8 days,,This is unheard of..well in my short history and no insider trading , jut normal news feed and this compensated all my systems portfolio capital losses..after as everyone, I lost a bucket on some gold miners or even ANN which has been very disappointing, but what I want to say is that there is money to be made in this crazy time too

 

[frugal.rock]

@Moving Average
I wished you all the best because I was in the same boat a while ago...?
Sold out and reset.
Sounds like my post hit a nerve, that certainly wasn't my intention.
Cudos for pulling out. I expect you will profit from it in the long term.
There's no ill will from me.
I don't trade a mechanical system, so I can't help in that regard?
The suggestion of the bars thing was more for comment or thought? I have no idea, just thought it might help with Miss Time and Miss Read....
Only trying to be helpful...
Can I ask if you created your own mechanical systems?

Butt out time for me... wonder what @barney is up to?

F.Rock
PS; I love systems traders.... makes my discretionary job easier.

 

[CBerg]

excellent
But today for the first time I saw some values and put some buy for the open on monday based on P/E domain, non system ones not gold, not inverse index...
Pure solid companies I find now very cheap.time will tell;
But there is money to be made:
Sold more BBOZ another FMG put warrant..I know we have some FMG fans here: thanks!
in the last 6 weeks I bought 4 FMG warrants and 1 QAN for 85% return average, holding them an average of 8 days,,This is unheard of..well in my short history and no insider trading , jut normal news feed and this compensated all my systems portfolio capital losses..after as everyone, I lost a bucket on some gold miners or even ANN which has been very disappointing, but what I want to say is that there is money to be made in this crazy time too

Sorry qldfrog, I can't tell if you're going long or short FMG? I'm interested in knowing what you think given your outlook has been negative on the corona virus to date.

 

[Dona Ferentes]

Maybe the big super funds, have had a lot of 'baby boomers' close to retirement, ask to be changed over to cash?
Those with a year or two off retirement are probably saying, "ouch"

for those BBs that have retired before now; hope the settings are right; the remainder, the younger cohort, would be squirming

Baby boomer is a term used to describe a person who was born between 1946 and 1964.