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I've just thrown the switch to full-auto.
I opened a futures account with Angus Jackson,
wired them US$ 100K, sent them my own TradeStation 4
code for my very own LTTF (long term trend following)
system, done extensive back-and-forth faxing with
their computer specialists to ensure that we're getting
the same signals and the same orders, and finally
I've told them "trade it".
The system trades a portfolio of 18 commodities,
same rules/parameters for all. Significantly ABSENT
from the portfolio are S&P500, Soybean complex, and
Gold. Weirdest commodities that DID make it into the
portfolio are probably Mexican Peso and Two Year Notes.
I've included position sizing that computes how many
contracts to trade based on both account equity and
on market volatility (which is used as an estimate
of dollar-risk-per-contract). THAT was messy to do
in Easy Language, especially since the 18 commodities
are all traded out of a single account. The position
size computations resemble, but are not identical to,
the "ROI" calculations of Performance One by Rumery
and Lehman (see Kamikaze Trading Letter, Aug - Oct 1995).
Why did I go with a Robobroker? Because I live in the
Pacific Time Zone and I value my sleep. The LTTF system
I've sent them requires the placement of two Stop orders
in every market it trades, every day, before the markets
open. That's tough to do at 4:55AM Pacific time, day
after day after day.
I continue to _personally_ trade (i.e. not at a Robo Broker)
the Club 3000 system from issue 98.02. The only kinds of
orders it places are market orders (specifically, market on
the open), so I only call that broker when a trade WILL be
made ... rather than when a trade MIGHT be made. This
averages only one or sometimes two orders a week, which I
find easier to handle than 180 orders/week {math: 2*18*5=180}
If all goes smoothly with Mr. Robobroker (or, heaven forbid,
if it goes Really Badly), I'll post an update message.
Mark Johnson Silicon Valley, California mark@xxxxxxxxxxxx
"... The world will little note, nor long remember, what is said
here today..." -Abraham Lincoln, "The Gettysburg Address"
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