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Trading Metrics for journals/record keeping


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Trading Metrics for journals/record keeping

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  #21 (permalink)
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I dont have a predefined journal that I use daily (personally I found I became too obsessed with it rather than using my gut feel which works better), but previously when I did use one, the thing I found more important than a bunch on numbers and mathematical analytics when I looked back at the history - which lets face it thats what a journal is for - was the personal thoughts v the actual positions taken.
eg; the market was in a long term uptrend, short term consolidation, my thoughts were to buy a dip. So why then did I suddenly find myself doing more than a fair share of failed sells. It was because I was focussed on trying to make the market fit my strategy and predefined journals etc; rather than following my plan and the market.

It was more a personal thing for me as I was largely discretionary - but I found the focus of any journal should be tailored to the element that highlights the weaknesses and strengths. So when I feel I am not in sync with the market these days, I actually write down a simple review of thoughts and plans and see how closely I follow that, or deviate from that in order to get back in sync. Once back in sync, I drop the journal so that I dont fall into the trap of obsessing about trying to perfect it, or my style.

Point being is sometimes just reviewing the numbers is less relevant than the frame of mind, or if you are so number inclined then maybe use a ranking system - eg; bullish to bearish on a scale of 1-5 in order to review your history.

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  #22 (permalink)
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@Big Mike, are you planning on making your spreadsheet available when you are satisfied with it? I took a look at your beta version screen shot and I really like it......just curious.

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  #23 (permalink)
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aztrader9 View Post
@Big Mike, are you planning on making your spreadsheet available when you are satisfied with it? I took a look at your beta version screen shot and I really like it......just curious.

Yes, I will. I haven't had time this week to make any progress on it unfortunately.

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  #24 (permalink)
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My friend, a successful forex trader, uses a spreadsheet he bought from TradingSpreadsheets.com and says it has helped him immensely improve his trading.

Here's sample spreadsheet they have for futures. They also have stock, options and forex-specific spreadsheets. Cost is $57 for all of them.


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  #25 (permalink)
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@Mike,

looking at your beta screen shot looks great, what is your sharpe ratio calc? thats the highest SR i have ever seen and am wondering if its correct? might be worth checking?

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  #26 (permalink)
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rassi View Post
@Mike,

looking at your beta screen shot looks great, what is your sharpe ratio calc? thats the highest SR i have ever seen and am wondering if its correct? might be worth checking?

I believe the calculation is right. You need to remember, the results are annual, but the screen shots only had 2 days of trading results, so it was extrapolating 2 days of performance over 365 days.

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  #27 (permalink)
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Big Mike View Post
I believe the calculation is right. You need to remember, the results are annual, but the screen shots only had 2 days of trading results, so it was extrapolating 2 days of performance over 365 days.

Mike

my bad thanks Mike, any way of making it calc it as a rolling sum? say EOD?

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  #28 (permalink)
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rassi View Post
my bad thanks Mike, any way of making it calc it as a rolling sum? say EOD?

"Any way" ? I'm sure. But I won't be pursuing it, just the initial math required and special cells required in the spreadsheet were already more than I cared to do for the sharpe ratio.

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  #29 (permalink)
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Big Mike View Post
"Any way" ? I'm sure. But I won't be pursuing it, just the initial math required and special cells required in the spreadsheet were already more than I cared to do for the sharpe ratio.

Mike

Great! when you release it i will have a stab at making it a monthly figure. Really looking forward to using your spreadsheet Mike, I think it will be the most profitable "indicator" on this site .

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  #30 (permalink)
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Big Mike View Post
Yes, I will. I haven't had time this week to make any progress on it unfortunately.

Mike

Yo Mike, hit us up with those metrics, been hanging out for them !

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