For the week, the system was down -.01%, while [[SPY]] was up 1.86%.
On Monday’s open, Columbia Banking System, Inc. [[COLB]] and Opko Health Inc. [[OPK]] will be sold, leaving room for 5 more positions. The 5 new positions are Theravance, Inc. [[THRX]]
Navios Maritime Partners L.P. [[NMM]]
Micrel, Incorporated [[MCRL]]
Silicon Laboratories [[SLAB]]
Beckman Coulter, Inc. [[BEC]]
The model portfolio will be full with 10 positions.
Have a good week trading!
@Woodshedder do you trade your systems manually or do you enter your criteria into software that places your trades automatically based on the parameters?
Right now it is all manual. I enter orders the night before for the next open. Tradestation sets stops just after the entry. I will then adjust things the next evening.
My partner is working on a java-based interface which should take care of most everything automatically, but it is still in beta phase.
Thanks for the info, I’m looking forward to your new system. I happen to be a programmer also so let me know if I can help out in the future.
Dr. Doom,
An auto-trader will eventually be written for Power Dip using the Java API for Interactive Brokers. I am currently working on one for another system we trade that is a lot more time intensive than this one but Power Dip is next on the list. Do you know Java and/or the IB API?
I am organizing things in such a way that there is a “strategy” class that handles everything related to a particular strategy and essentially plugs into a couple of other classes that handle the GUI and communication back and forth with IB but I am not a professional programmer so it is taking some time to work through and test well.
We haven’t really discussed it but it might be possible to eventually make this available to traders who trade this system with Interactive Brokers as it would be possible to download daily signals straight from IBC and handle a lot of the more mundane order management tasks directly through the app. If that does become a goal to distribute this beyond Woodshedder and myself, we would probably want a professional programmer involved. Not sure if Jeremy knows Java.
Funny, I just picked up some NMM for my IRA. Amazing dividend on that puppy!
I never look at anything other than the chart, or occasionally I will check to see if earning is coming up soon, during earnings season.
If I’m in it long enough to collect a divy, then something bad has happened!
Wood,
One more Q, as it pertains to my own ability to diversify through with this system. I currently use a system I developed, which has worked nicely over the past 3yr, but I am looking to find ways to deploy capital beyond it, mostly to diversify.
You mentioned that the system protects itself during market downturns, my Q is (without revealing any specifics) is it based on moving averages for the indexes, volatility or losing streak for the system. The reason I ask is that my own system protects itself by looking at the MAs for the averages. I would want to know whether yours offers diversification in this regard.
Best –
Tilo, that is a good question, and I like the way you think. One variable is based on moving averages. Hit me up with an email and I might be able to go into more detail.