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Your winning strategy
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Created: by Big Mike Attachments:0

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Your winning strategy

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
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Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
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Your winning strategy

There are a great deal of threads and thousands of posts on the forum that talk about indicators and methods. But, for this thread, I'd like to focus more on how you trade and not so much on what you trade.

To get us started, I'd like to hear from everyone --- which of the following best describes your trading? Multiple answers are normal.

Feel free to edit the Quick Summary and add some new options after you reply

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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to support our community, become an Elite Member.

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  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

(a) My win percentage is over 50%
(b) My win percentage is below 50%
(c) My winning trades are larger than my losing trades (dollar-to-dollar)
(d) My winning trades are smaller than my losing trades (dollar-to-dollar)
(e) I trade to a specific daily goal based in dollars and then stop
(f) I trade to a specific daily loss limit based in dollars and then stop
(g) I trade full time and it represents the majority of my income
(h) I trade part time but have another income that pays my bills
(i) I trade part time because I enjoy it, I don't need the money
(j) I trade full time but does not represent the majority of my income


Last edited by MWinfrey; December 7th, 2010 at 02:02 PM.
 
  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,233 received


I'll get us started.

My answers:
(a) Yes my win percentage is over 50%. I'm looking at it over a few months time.
(c) Yes my winning trades, on average, are larger than my losing trades (in dollars).
(g) Yes I trade full time and it represents the majority of my income.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #4 (permalink)
Just starting out...
DFW
 
Futures Experience: Intermediate
Platform: NinjaTrader, ThinkorSwim
Favorite Futures: ES
 
Posts: 3 since Oct 2009
Thanks: 3 given, 1 received

Answers

(b) My win percentage is below 50%

(d) My winning trades are smaller than my losing trades (dollar-to-dollar)

(h) I trade part time but have another income that pays my bills

I'm still learning to overcome my own weaknesses and psychology. Still not net profitable.

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  #5 (permalink)
Member
Omaha, NE
 
Futures Experience: Intermediate
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(a) My win percentage is over 50%
(c) My winning trades are larger than my losing trades (dollar-to-dollar)
(g) I trade full time and it represents the majority of my income

Is this the kind of reply you were looking for futures.io (formerly BMT)? Take what applies to our trading and remove what doesn't?

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  #6 (permalink)
 Vendor: www.coroin.com 
Galveston ,TX
 
Futures Experience: Intermediate
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Favorite Futures: Futures
 
Posts: 386 since Mar 2010
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hi mike -- got to this thread from this post (which is just awesome, imo)

i have been trading on/off for the past couple years, but i was uncertain of the answers to a/b and c/d. i had not been tracking those questions in my trading journal, so my project for the weekend is to go back thru my journal and update it with the wldr metrics. so far, it has been quite eye-opening.

at this point, i can safely say:
(e) I trade to a specific daily goal based in dollars and then stop
(f) I trade to a specific daily loss limit based in dollars and then stop
(h) I trade part time but have another income that pays my bills

will be posting back in a bit on a/b or c/d.

cheers,
-e

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  #7 (permalink)
 Vendor: www.coroin.com 
Galveston ,TX
 
Futures Experience: Intermediate
Platform: NT7
Broker/Data: Zaner
Favorite Futures: Futures
 
Posts: 386 since Mar 2010
Thanks: 364 given, 433 received

ok...didn't take me long into my exercise to realize that i didn't have to wait until the end to add these two:
(b) My win percentage is below 50%
(d) My winning trades are smaller than my losing trades (dollar-to-dollar)

making some changes over here, for the better. thx again for the valuable exercise.

cheers,
-e

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  #8 (permalink)
Elite Member
Lubbock TX
 
Futures Experience: Intermediate
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(a) My win percentage is over 50%
(c) My winning trades are larger than my losing trades (dollar-to-dollar)
(j) I trade full time but does not represent the majority of my income

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  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,233 received

You guys should take a look at this other thread as well:

https://futures.io/elite-group-trading-methods/683-creating-successful-automated-trading-strategy.html

It is specifically for automation.

This thread says "strategy" but I meant it primarily as discretionary trading.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #10 (permalink)
Elite Member
Atlanta, Georgia
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: DDT
Favorite Futures: ZN, ZB
 
cbritton's Avatar
 
Posts: 224 since Mar 2010
Thanks: 152 given, 237 received



Quick Summary View Post
(a) My win percentage is over 50%
(d) My winning trades are smaller than my losing trades (dollar-to-dollar)
(e) I trade to a specific daily goal based in dollars and then stop
(f) I trade to a specific daily loss limit based in dollars and then stop
(h) I trade part time but have another income that pays my bills

I'm still working on psychology and taking steps to let my profits run.

Regards,
-C

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
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