Experienced Orderflow traders: What's a good cut & reverse drill performance? | Traders Hideout

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Experienced Orderflow traders: What's a good cut & reverse drill performance?

  #7 (permalink)

Glasgow, Lanarkshire Scotland
Trading Experience: Intermediate
Platform: Jigsaw Daytradr
Broker/Data: Working my way around them all
Favorite Futures: ZN, ES
Posts: 52 since Apr 2016
Thanks: 57 given, 46 received

DionysusToast View Post
This drill has nothing at all to do with learning how to place trades.

It's part of the education program at many prop firms.

Absolute performance is not relevant though - it's whether you are improving or not that counts.

It's all about getting tuned into the ebb and flow of the market, so at first you should expect to be offside a hell of a lot.

Once you are getting onside more frequently, the market conditions are going to influence the P&L way more than how good you are.

So on day 1 - it might be a runaway day and each time you trade in that direction you kill it. Doesn't mean you were that great though. Then day 7 might be a tight range and you get cut up - doesn't mean you got worse.

These drills all come with the caveat that it's not all about P&L. If you make it about P&L, it won't be as useful.

Think of it like this - if you just sit and watch the market for 10,000 hours, you'll probably be asleep for 9,000 of them. The drills give you an anchor point or reference point around which to observe the action. They give you a goal of improvement.

It you make the goal P&L, you can turn a positive experience into a negative one because of the losses. Best to avoid that if you can.

Thanks Peter, well put. Easy trap to fall into but will try and avoid it.


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