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Newbie ES Trading Log for Review
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Newbie ES Trading Log for Review

  #21 (permalink)
Elite Member
Mesa, AZ
 
Futures Experience: None
Platform: NinjaTrader, thinkorswim
Favorite Futures: ES
 
Posts: 27 since Dec 2014
Thanks: 21 given, 12 received


jamjacson View Post
Your ability to handle crushing emotional pain day after day is the psychological issues you have to confront. How well do you deal with change? How disciplined are you? How driven and how much self awareness. Thats what your looking for. How well do you deal with stress?

I'm not sure I count losing money as "crushing emotional pain". I admit I could be more disciplined, but on the rest I think I'm doing better than most.

Thanks for your opinions and warnings.

Have a CAVU day!

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  #22 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,362 since Jul 2012
Thanks: 1,111 given, 4,292 received
Forum Reputation: Legendary


bcabebe View Post
I'm not sure I count losing money as "crushing emotional pain". I admit I could be more disciplined, but on the rest I think I'm doing better than most.

Thanks for your opinions and warnings.

Have a CAVU day!

I think we all felt that way, until it actually happened.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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The following user says Thank You to kevinkdog for this post:
 
  #23 (permalink)
Trading for Fun
Kalispell montana
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received



bcabebe View Post
Hi,


My success rate for round trip trades is 60.5%. My profit/loss ratio is 1.18.

Curious, what do experienced traders think of an overall 60% success rate?

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  #24 (permalink)
Trading for Fun
Kalispell montana
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received


kevinkdog View Post
I think we all felt that way, until it actually happened.

Wondering, do you think those that gamble have lost the ability to concerned when money is lost?

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  #25 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,362 since Jul 2012
Thanks: 1,111 given, 4,292 received
Forum Reputation: Legendary


sledmt View Post
Curious, what do experienced traders think of an overall 60% success rate?

Meaningless. Expectancy is the number you want to look at.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #26 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,362 since Jul 2012
Thanks: 1,111 given, 4,292 received
Forum Reputation: Legendary


sledmt View Post
Wondering, do you think those that gamble have lost the ability to concerned when money is lost?

No. I lose all the time, I don't get concerned, and I am not a gambler. I think the ability to emotionally handle losses is something that comes with experience - the experience of losing, then winning it back, then losing, etc.

10 years ago, my beautiful wife could tell if I made or lost money on a particular date. My results affected me, and it outwardly showed. Now, she can't tell at all, unless I tell her. I think that is a good thing.

If @bcabebe is really emotionally detached from money, more power to him as he starts trading. Before I started trading, I thought I was detached too... until I lost.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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The following 2 users say Thank You to kevinkdog for this post:
 
  #27 (permalink)
Trading Apprentice
Chicago US
 
Futures Experience: Advanced
Platform: Ninjatrader, Tradestation
Favorite Futures: NQ, CL, GC, ZN
 
Posts: 28 since Jan 2015
Thanks: 5 given, 14 received

Any opinions on trading the Asian session. Nikkei, ASX 200, etc? I would think something in Asia must have liquidity to trade considering its there day time.

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  #28 (permalink)
Trading Apprentice
Chicago US
 
Futures Experience: Advanced
Platform: Ninjatrader, Tradestation
Favorite Futures: NQ, CL, GC, ZN
 
Posts: 28 since Jan 2015
Thanks: 5 given, 14 received


kevinkdog View Post
Meaningless. Expectancy is the number you want to look at.

What would be a acceptable expectancy number?

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  #29 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,362 since Jul 2012
Thanks: 1,111 given, 4,292 received
Forum Reputation: Legendary


Skeptical View Post
What would be a acceptable expectancy number?

If you are referring to expectancy (which is just the average trade value), I'd say a minimum of $50 net is reasonable.

If you are talking about Tharp expectancy, which is the average overall trade divided by the average loss). Values there over 0.10 are reasonable, the higher the better.

Of course, the trade frequency also plays a role here. Tough to make money with low expectancy and low trade frequency, but low expectancy is OK with high frequency of trades.

Hope this helps!

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
 
  #30 (permalink)
Trading Apprentice
Chicago US
 
Futures Experience: Advanced
Platform: Ninjatrader, Tradestation
Favorite Futures: NQ, CL, GC, ZN
 
Posts: 28 since Jan 2015
Thanks: 5 given, 14 received



kevinkdog View Post
If you are referring to expectancy (which is just the average trade value), I'd say a minimum of $50 net is reasonable.

If you are talking about Tharp expectancy, which is the average overall trade divided by the average loss). Values there over 0.10 are reasonable, the higher the better.

Of course, the trade frequency also plays a role here. Tough to make money with low expectancy and low trade frequency, but low expectancy is OK with high frequency of trades.

Hope this helps!



Got it.

Thanks Kevin. Appreciated.

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