趋势为王 纪律制胜

Core Insights - The participant known as "Alchemist" achieved consistent profits through a self-developed trend-following trading system during the third "Futures Star" competition [1] - The trading career of "Alchemist" began in 2006, transitioning from stocks to futures in 2008, and has since focused on various markets, ultimately refining a mature trading system in futures [1] Trading System - "Alchemist" utilizes a proprietary trading system on the Wenhua Financial platform, monitoring on a 5-minute basis and generating buy/sell signals through programmed logic [2] - The system operates under strict rules, with trade durations ranging from intraday to several weeks or even a month, driven by system signals [2] - The current portfolio includes volatile and low-correlation assets such as lithium carbonate, shipping indices (European line), and polysilicon, with hedging through SSE 50 options [2] Risk Management - "Alchemist" maintains a maximum drawdown of around 10%, significantly lower than the initial threshold of 20%-25% [2] - Manual intervention occurs during extreme market conditions, allowing for profit locking and system validation [2] - The profit-to-drawdown ratio remains stable between 6:1 and 7:1, showcasing effective risk management strategies [2] Position Selection Logic - The selection logic for current holdings emphasizes objective testing supplemented by subjective preferences, narrowing down from over ten assets to three core ones based on statistical characteristics and personal lifestyle [3] - The ideal operational scale for the current strategy is between 20 million to 50 million, with a preference for a comfortable range of 10 million to 20 million [3] - "Alchemist" has opted out of testing certain high-margin contracts due to their high margin requirements, focusing instead on assets without night trading [3] Trading Philosophy - "Alchemist" attributes success to two main factors: adherence to a validated system and strict risk control discipline [4] - The trading philosophy simplifies complex markets into replicable rules, continuously optimizing strategies to maintain their effectiveness [4] - The motto "cut losses short, let profits run" encapsulates the approach to trading in the futures market [4]