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Anybody heard of topsteptrader (review)

  #258 (permalink)

Market Wizard
Columbus, OH
Trading Experience: None
Platform: NT 8, TOS
Favorite Futures: ES
Silvester17's Avatar
Posts: 3,461 since Aug 2009
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josh View Post
If you're profitable, should you not also care about profit factor, maximum drawdown, win rate, or other performance metrics? Profitability is not the most telling metric of a trader's performance. Even if a trader is profitable and has good numbers generally, he can likely still improve by knowing certain metrics and the average hold time is one of them.

Having a stat like average hold time does not mean you should trade for the stat instead of trading well; hopefully that is common sense. It would be silly to stay in a trade longer simply for staying in the trade longer so your hold time stat would improve. But a random sampling of winning traders would probably reveal a significantly longer hold time for winning trades than losing trades for most traders. The stat tells the story--the story should not be told to make the stat.

The statistic has the purpose of making the trader aware of a principle which is beneficial for most traders, nothing more.

this is just me. I normally enter the market with a fixed target (more a scalping approach), or I enter without a target because I believe we are in a strong trend. but in both cases as soon as I see evidence of a possible reversal I get out. doesn't matter if I'm plus or minus. and certainly doesn't matter if I'm in the market 10 min, 1 hour or 5 hours. and I believe the market doesn't care either.

like I said before, scalper or swing trader makes a big difference. another example, I'm a scalper going for 3 points with a stop of 6 ticks and I'm consistent profitable. lets say 75% winning trades. should I really care about a holding time?

stats are good. but not always helpful.

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