Need a mentor

[altaf petiwala]

Linkon,

I am not able to enable my PM. Maybe some restriction from mods about number of posts before enabling or some such thing

 

[linkon7]

altaf@ nice to hear from u...! If possible..add me to skype...!
ID is linkon7

 

[altaf petiwala]

I dont use skype...

Your email id? i will thank the post and u can delete it

 

[linkon7]

@ altaf, a puzzle for u....!

Ankit is very excited about a mechanical system that has a very good performance. He even put up the trade list.

http://www.traderji.com/futures/71666-beat-one.html

I gone though the trades and identified a major flaw in the system...! We don't know the details of the system and going by backtest, there is little room for the system to fail. Lets make that a case study...! what, in ur opinion, is the single big draw back of the method incorporated...?

 

[linkon7]

deleted...!

 

[altaf petiwala]

I sat the thread, yesterday, and the language he uses, the exitement, makes me remember my previous 37000 systems that I created and discarded after 2 months.

He mentions entering at close of bar. Also, a 37o point drawdown is too high for comfort, that too without bkg and slippage.

Bank Nifty is a beast, and a wild one at that. I have spoken to a big trader whom even you know, personally about this and he says, its practically impossible to trade a 1000 quantity on BNF without 15 points slippage.

There goes the system according to me.

 

[linkon7]

I sat the thread, yesterday, and the language he uses, the exitement, makes me remember my previous 37000 systems that I created and discarded after 2 months.

He mentions entering at close of bar. Also, a 37o point drawdown is too high for comfort, that too without bkg and slippage.

Bank Nifty is a beast, and a wild one at that. I have spoken to a big trader whom even you know, personally about this and he says, its practically impossible to trade a 1000 quantity on BNF without 15 points slippage.

There goes the system according to me.

his avg gain is 165... so a 370 point max drawdown is on expected lines...! a major gap can and will happen.. but he recovers his drawdown in less that 2 good trades...!

His avg loss remains at 65...!

There is something else... that is a deal breaker for me...!

 

[altaf petiwala]

You can delete your email id.

If I cannot trade even a 1000 qty, whats the use of a system that cant be scaled up?
I havent gone through his trade list, and would never even think of trading a system with less than 75 % winning trades.

Secondly, I will never ever trade a positional system

I day can take away a few months of profits and all of my confidence.

 

[linkon7]

You can delete your email id.

If I cannot trade even a 1000 qty, whats the use of a system that cant be scaled up?
I havent gone through his trade list, and would never even think of trading a system with less than 75 % winning trades.

Secondly, I will never ever trade a positional system

I day can take away a few months of profits and all of my confidence.

It'll be very difficult to trade a system with big qty.. that targets high strike rate. Big qty traders need high RR, opposed to high strike rate...!

Infact his system is ideal for high qty. Since the RR is higher than 2... and strike rate is above 40%

 

[altaf petiwala]

It'll be very difficult to trade a system with big qty.. that targets high strike rate. Big qty traders need high RR, opposed to high strike rate...!

Infact his system is ideal for high qty. Since the RR is higher than 2... and strike rate is above 40%

Why do you feel that?

at 40 % win rate, I would not touch his system
Positional or intraday.
Plus, if you cant execuate 3000 to 5000 BNF without 20 points slippage, no use of looking into it also.

I know people who comfortable execute 10000 Nifty with a maximum of 2 rs impact cost, on most trades, if not all.