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Short term TF trading
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Created: by indextrader7 Attachments:289

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Short term TF trading

  #221 (permalink)
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Boy oh boy

I got risky today, traded a bit more size. Increased my max drawdown to -5.3%, but made a killing.

Today's trades and daily P/L for the week:
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  #222 (permalink)
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May stats

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Nothing impressive by any means, but thought I'd share.

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  #223 (permalink)
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May drawdown chart


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  #224 (permalink)
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Well done

Great trading IT7 really happy for you just finished work so looking forward to watching todays video. hope the move and exam went well.

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  #225 (permalink)
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May returns

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  #226 (permalink)
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Nice trading today IT7! Killed it indeed. Cant wait for the video.

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  #227 (permalink)
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THIS IS A TRANSPARENT TRADE JOURNAL, NOT AN EXAMPLE OF ALWAYS PROPER TRADING. Keep that in mind.

I'll do a video and show what I did, but I'm not terribly proud of it. I took a lot of risk, I was negative ticks today. That means I just happened to be right when I had a lot more size on that when I was wrong. Traded with a lot of conviction today, not something I usually do.

Again, I'll show the trades, but I don't recommend trading like I did today.

THIS IS A TRANSPARENT TRADE JOURNAL, NOT AN EXAMPLE OF ALWAYS PROPER TRADING. Keep that in mind.

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  #228 (permalink)
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5-24 trade recap part one

Screenr - indextrader7: 5-24 trade recap part one

Screenr - indextrader7: 5-24 trade recap part two


Last edited by indextrader7; May 24th, 2012 at 02:15 PM.
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  #229 (permalink)
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Hi indextrader7,

Thanks again for the very existence and the quality of your journal. It is very very interesting and inspiring.
I really like your trading style ( even if it would probably not suit to me! )

Would you allow me some questions, for my better understanding of the above messages?

a) Is the "max drawdown" the maximum drawdown in the trading capital observed during a trading session? If yes, it means that at one minute, you were at 94.7% (100%-5.3%) of your trading capital calculated some time ago during the same session. Correct?

b) Do you put limits to your drawdown during a session (walkaway rule or similar) or do you trade and only calculate the actual max drawdown at the end of the session?

c) In the win/loss ratio, what are the definition of winners and losers? Is it "winner = trade with gain" and "loser = trade with loss" or is it something different (for instance, "winner = profit target reached" and "loser = negative or scratched-positive")? I guess that I am right, because you do not seem to use profit target, but I just wanted to be sure.

Sorry to disturb you with these questions and... congratulations!

Nicolas


Last edited by Nicolas11; May 24th, 2012 at 03:10 PM. Reason: clarification
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  #230 (permalink)
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Nicolas11 View Post
Hi indextrader7,

Thanks again for the very existence and the quality of your journal. It is very very interesting and inspiring.
I really like your trading style ( even if it would probably not suit to me! )

Would you allow me some questions, for my better understanding of the above messages?

a) Is the "max drawdown" the maximum drawdown in the trading capital observed during a trading session? If yes, it means that at one minute, you were at 94.7% (100%-5.3%) of your trading capital calculated some time ago during the same session. Correct?

b) Do you put limits to your drawdown during a session (walkaway rule or similar) or do you trade and only calculate the actual max drawdown at the end of the session?

c) In the win/loss ratio, what are the definition of winners and losers? Is it "winner = trade with gain" and "loser = trade with loss" or is it something different (for instance, "winner = profit target reached" and "loser = the rest")? I guess that I am right, because you do not seem to use profit target, but I just wanted to be sure.

Sorry to disturb you with these questions and... congratulations!

Nicolas

Great questions, glad to answer.

a) Yes max drawdown is during the session every trade's P/L is used. Correct.

b) I've often thought it a good idea to have a daily loss limit, but I've never been able to apply one. Yes, the max dd calculation is just for performance review at the end of sessions, but I know what's going on and a rough estimate of what kind of drawdown I'm in while I'm trading.

c) win:loss ratio... A win is any trade with a tick P/L greater than zero. A loser is any trade with tick P/L < 0. I most always use a profit target on the first half of my position, and try and let the 2nd half run.

Hope this helps.

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