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Metrics to go live
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Metrics to go live

  #1 (permalink)
Elite Member
San Jose, CA
Futures Experience: Intermediate
Platform: NT/SC
Broker/Data: Multi
Favorite Futures: CL
Posts: 718 since Mar 2012
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Metrics to go live

I was trading live and decided to go back to SIM to build up some more experiance with the method and to assimilate more of the nuesiances to go along with my strategy. I was going to post this on my journal thread but I thought it might help others that are in my position to have as a list of criteria. I know there are psychological aspects that can't be mimicked in SIM but a list of measurable stats to use before starting to or going back to risking real dollars. And hopefully a little less exact as the TST criteria. Below are a couple TraderVue stats I was thinking of. I would like to hear what the rest of the community thinks about this issue. Thank you.


Criteria for going back live:

Profit factor
Avg Daily Volume
Total gain

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Prince George BC Canada
Futures Experience: Advanced
Platform: IBs TWS
Broker/Data: IB
Favorite Futures: Stocks
deaddog's Avatar
Posts: 612 since May 2013
Thanks: 98 given, 684 received

First is the capital you use to sim trade the same as the capital you use to trade live?

The stats I keep track of are as follows:

Percentage of winning, losing and break-even trades;
Actual risk reward that is experienced vs the planned risk reward.
Planned risk per trade vs experienced risk per trade. (I measure risk as a percentage of my capital)
Total return as a percentage of capital.
Dollars per trade.

I also rate my trading. Did I follow my plan? Did I take my stops when they were hit? Did I wait for the trade to hit the planned target or close it out to take a small profit. Did i wait for set ups, enter according to plan or did I anticipate or chases a trade? For the most part it is not the trading plan that is faulty but the lack of discipline on the part of the trader to follow the plan.

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  #4 (permalink)
PTA, Gauteng
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
DarkPoolTrading's Avatar
Posts: 1,036 since May 2012
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Personally I keep track of quite a few metrics but if I was forced to just use one, it would be expectancy (and by extension of that: winning %, losing %, avg win size, avg loss size). What I like about expectancy is that it not only tells you if you will be profitable over the long term ie: expectancy, but it also allows you to analyse where your profits are actually coming from. Are they coming from the fact that you are able to be right a high percentage of the time? Or are they coming from the fact that when you win, you win big. Or is it a mix between the two? All useful information bundled up in one metric.

Obviously things like MFE and MAE are also interesting. But in my opinion these are for fine tuning an already profitable trader's performance.

@deaddog also makes a good point about tracking the emotional aspects of your daily trading. This is an area that allows for a bit more creativity because you will need to pick up on psychological issues that may be affecting your trading and figure out ways to track them. For me, I track the following every day:
  • Was my daily routine followed
  • Did I take every valid signal
  • What was my level of focus as a percentage
  • Did I let the result of prior trades affect my next trade
  • Did I follow my entry rules
  • Did I follow my trade management rules

I enter all of that into my spreadsheet and it calculates a percentage which I call my emotional performance percentage.

Good luck.

Diversification is the only free lunch
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