Still testing and watching

It's been a while since my last post. I'm very dilligently testing my new ES strategies. I'm getting there, but not yet ready to risk my real money. In the mean time, I was able to get $3.3RT for ES where I can use Zen-fire, institutional service, that provides unfiltered data and that account is fully funded. I also wrote a program in Visual Basic (I never wrote a program using VB before. I was a hard core Java guy) that utilize my money management. I even built a live dome!

As far as my position trades go, they are just hanging there. It seems that I'm not going to exit my spread until soybeans drop to $11/b level. Once I exit this position, I have to be more selective on position trades. Lumbers are all time low, but with housing markets, it'll take a while.

Hope everybody is doing great and let's see what FOMC brings today. Some say we're nowhere done from credit crisis and some think the worst is behind. I personally think either we are used to this situation already or we're getting better. Remember, stock markets are the most efficient instrument to gage our economy. If we get acceptance above 1400, I would say we go higher.

Update

Nothing new here. Still holding the spread and the lumber trade. I'm not used to this kind of super-long-term trade, so I have to be very patient.

I'm giving one more week of new scalping setups. I will go live if I become consistent in this final week. I'll start 4 lots.

Roll over

I rolled over my spread trade to July.

Sold 2 May SM at 343.10
Covered 2 May S at 1353

Long 2 Jul SM at 348.40
Short 2 Jul S at 1368.25

Position update

It's been a while since my last update. The main reason for that is I really need to manage my swing position. The spread went in my favor after planting report, but I thought it had more room to go, but it completely turned around and now I'm sitting about at break-even. This could take months to work out, but I hate seeing the spread goes to $40K again. Now I have two lots, I have to deposit more. However I still like this trade. I'm looking at least $10K profit off of this trade.

Lumber started showing some signs. Yeah, I know about housing markets, but we all know that when 'everybody' talks about something, it's time to do the exact opposite. I'm well positioned on Lumber. If May contract goes about 250, I'll sell 270 Call so that if the market drop back, I'll take the premium lowering my b/e level.

I'm also working on a new strategy in ES. So far very consistent, but need to simulate more. Previously, I hurried on trading from sim, I ended up losing a lot. I do not want to do that for sure this time. I'll most likely start with $10K trading 4 lots of ES. When I started doing that, I'll post live updates here.

As far as the money club I'm in, it is profitable, but slightly above +1% since inception. I will take everything out in July which will give lots of flexibility on my other trading account. If things go well, I should be trading 20 lots on ES (Yes, I'm very confident).

At the moment, I'm also programming to accommodate advanced order entry. I could buy a software and pay $4.10 RT on ES, but if I don't use that software and program it myself, I can get $3.30RT. If I trade more later, that 80 cents different will add quickly.