Making a 100 a day | Traders Hideout - futures trading strategies, market news, trading charts and platforms

Traders Hideout

Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons


Making a 100 a day

  #11 (permalink)

Trading Experience: Intermediate
Platform: Bookmap and Jigsaw DOM
Broker/Data: Stage 5 Trading
Favorite Futures: ZN
lax99's Avatar
Posts: 433 since Jun 2015
Thanks: 623 given, 809 received

Jayboii478 View Post
But more times than not, I'll be hitting my 15 target, so once in a while I get stopped out right before a win, but trading the plan and planning the trade keeps me clear of being blinded and changing my SL or TP to fit current market because of a bad trade.

One of the important things for any trader to understand about his/her trading is a strategy's expectancy. In my own trading, my expectancy has varied through different periods as my performance ebbed and flowed. When I was seeing the market well and executing well, my win % was about 62%. When I was executing terribly and trading poorly, my win % was 27%.

My point is that I know what my numbers are because I have to know them if I want a chance at being consistent and profitable (and S5 does an amazing job providing trader analytics!). Saying "more times than not" makes me think of two things that I experienced throughout my own career.

1) I'd say something similar when I had absolutely zero idea of what my expectancy or win rate was.

2) I'd say something similar when I had a string of losers and then one big winner. The big winner would erase my memory of the losses and make me think that I was a genius.

I now know that a trader has to be intimately familiar with his/her strategy and all aspects related to the strategy. If you're still figuring out your strategy, that's great! I still am and I'm sure that many others here are as well. Planning and executing are a huge part of trading, and it is good that you are executing your plan instead of trading your P&L.

My advice would be to dig into your strategy a little bit. In which market conditions does it work well? Which poorly? What's the expectancy? What's the win rate over 200+ trades? Keep working hard and I'm sure that you'll get there.

Reply With Quote
The following user says Thank You to lax99 for this post: