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How was your trading in 2013?
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How was your trading in 2013?

  #1 (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: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

How was your trading in 2013?

How was your trading throughout 2013 when compared to 2012?

How was your trading in 2013?

Total votes: 689
 


Please vote and discuss.

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.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

I'll start


My trading has improved dramatically this year. Here is a list of improvements:

1. I finally keep real stats every day. I've played around with it several times but the numbers don't lie. Keeping stats is probably the most important thing I do.

2. I finally stopped worrying about making money every day. Now I keep score weekly. My trading improved immediately.

3. I finally figured out what expectancy means to me....and that gave me significant confidence in my next trade.

4. I finally decided to stop scalping....in the sense of only trying for small targets 100% of the time. I know day trading is inherently a scalping proposition but for me, scalping is lots of small targets. My PnL improved instantly.

4. I finally understand that win rate is HIGHLY overrated. In fact, win rate might be the least important metric in trading. The most important metric might be; How big are my winners vs losers, both in ticks and lot size.

5. I finally developed some patience. This is a work in progress and probably always will be.

6. I finally consented to teach others. I found I love this and makes me a better trader. I now believe everyone should have a mentor plus be a mentor to others. There is accountability on both sides.

7. I've finally developed a real love for trading. Prior I had a love hate relationship. Now while I don't live for trading, I have fun while trading and I have fun talking about it. Its become more of a game of sorts. A challenge to find the set ups, to execute them and to spend the 15 seconds it takes to enter the data into my spreadsheet to produce my numbers. At the end of the day, I like seeing the net change in my expectancy numbers, my average win increasing and my average loser decreasing. These are "exciting" to me.

8. I finally understand why my original mentor was so brutal toward me when I asked him to "just explain to me where to enter" when he was trying to get me to get my mind right first.

9. I'm finally ready to listen (I think) to far more experienced traders and their advice. I'm still stubborn but working on it.

10. And finally, I went from 2 years of basically break even trading to profitability. I consider break even a success. After all, anything that doesn't lose money is successful...to a degree but it also lays the foundation for profitability.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #4 (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: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

Awesome Brian, here's to 2014 being even better!

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
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  #5 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: PTP / Rithmic
Favorite Futures: NQ
 
Daytrader999's Avatar
 
Posts: 1,159 since Sep 2011
Thanks: 1,137 given, 1,565 received

Thanks a lot @PandaWarrior for this very insightful post.

Perhaps we can add another category to the contest and call it 'Post of the year', so that post would be worth a nomination...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #6 (permalink)
Elite Member
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,069 since Aug 2011
Thanks: 967 given, 2,624 received

Great idea...

for a survey/poll question. I'm excited to read what others have to contribute here. @PandaWarrior this deeply experienced trader may look to learn a thing or two from you.

If Friday was year end, I'd be + just over $8,000 for the year. That is "significantly worse". Typically I'd describe plus $8,000 as a pretty good week since leaving professional trading for retail. I generally trade 1-3 lots, mostly ES and 6E, so I'm not what I would call high volume by any means, nor am I high intensity anymore. Maybe that is part of the problem. When I think about it, I feel safe in the generalization that any ES trader worth his salt should have killed it this year.

Thanks @Big Mike for this poll question. I will be very interested in what gets recorded here. Dan

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  #7 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

2013 was a MILESTONE

Even my trading has improved dramatically this year, in the following ways:

1. I have stopped caring about money, and simply focus on the craft of trading - because of this my anxiety and stress have vanished

2. I have understood the factors that drive my mistakes and my shortcoming, I have uncovered the core of my problems. This is very personal and I fight everyday.

3. I decided that my needs are best served by scalping.

4. I now consistently keep my winners bigger than losers. There is no 'one time', no hesitation in cutting a loser after the premise become invalid, no regrets even if I see price at target after taking out the stop.

5. I keep trying to be patient with entries.

6. I allow myself to make lots of mistakes - I do not let my ego interfere with my craft.

7. I've finally discovered that there is no point in having this hobbist mindset about trading. Trading is no longer my passion but simply my profession. It is not what I am but simply what I do.

8. I have started seeing the world as it really is and am never afraid of reality.

9. Without my ego I can learn new things faster and can apply them. I keep on learning to keep my edges razor sharp, I learn range trading, I learn trend trading, I learn breakout trading, I learn swing trading, I learn strategies on various timeframes, I learn about market microstructure, I learn about overcoming adversity, I grow tough with every learning and yet stay soft an pliable and my best keeps becoming better. I REFUSE TO GIVE UP.

10. I am still a breakeven trader, but I have the core confidence and am at peace that I will make money in any market condition.

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  #8 (permalink)
Trading Apprentice
Orem Utah
 
Futures Experience: Intermediate
Platform: Esignal
Favorite Futures: Silver
 
Posts: 1 since Sep 2013
Thanks: 0 given, 0 received

My real concern over the poll is that good news is good, bad news is good, and there has not been a 10% correction. My point is that people look like geniuses in bubble markets and that's what we have. So have people improved, or is the market just being more forgiving?

Btw I'm a commodities trader and have done very well this year.....even though I almost always trade long. This being my first post, hello to all and love the forum

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  #9 (permalink)
Elite Member
Brussels / Dublin
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: Stdev + 2
 
Posts: 467 since Jun 2010
Thanks: 842 given, 592 received

So things i improved on.

Better diversified:

1.) Using arbitrage
2.) Some Macro
3.) Continue trend following.
4.) Spread out risk.
5.) Less emotional (which i attribute to running automated trading strategies if they have taught me 1 thing its discipline which has helped with some other trading i am doing.)

Which has:
Lowered volatility by 50%.
Reduced drawdown by 30% (could still do with way further judging by topsteptrader program). (Could be market performance related also).

Added my performance metrics to rapa which was interesting too see how far i should go to get up the ladder!

Better focus on monthly period and in fact have yet to have 3 profitable months in a row which is something i need to look at.

Eventually added CFD's trading so i integrated Ninja with python as a workaround to the platform.

So things i am dissatisfied on.

1.) My largest losing month this year was greater than my largest winning month. Due to an arbitrage that is not exactly following the norm pattern and is now sitting around 7K in RED on the balance sheet sucking up resources.
2.) Not buying bitcoin at 50-100 dollars.

For 2.) as we all know there is always another trade around the corner so i wont dwell on it! For 1.) ill sit it out and assume im right and liquid enough to prove the market wrong (its neutral before anyone asks).

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