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Short term TF trading


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Short term TF trading

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  #61 (permalink)
danville ca usa
 
 
Posts: 51 since Mar 2012
Thanks: 6 given, 41 received


SteveH View Post
Do your reported tick totals exclude the broker's cumulative ticks made from your trading? If they don't then that number doesn't denote how YOU performed, independent of the number of trades you took.

For example, in cumulative tick terms, if it cost me 1/2 tick roundtrip per contract in brokerage fees, if I made +5 ticks on 5 contracts, I would record that as a +23.5 tick gain. If I lost the same, then I would record a -27.5 tick loss. If I made +100 ticks, 5 days in a row, then anyone can tell that I actually made $1000 each day, regardless of the number of trades it took me to achieve that total.


SteveH....

The key for me is similar to Indextrader7's approach. After the market closes each day, I look at all the symbols that I trade on a daily basis to determine 2 things. How many trades "could" I have taken and what was the total ticks "possible" for those trades. Then I compare number of trades that I took in realtime to the number of possible trades across all my setups. I also compare the number of ticks that I gained/lost in realtime to the number of possible ticks I could have gained with perfect hindsight. That measures how I do each day against what the market offers and as we all know, that changes daily. The markets change over time and these 2 measurements give me the best information about my trading process and how to adjust to changes.

Cheers

toucan

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  #62 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Just went long, much longer term play for me than normal.


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  #63 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Slightly above breakeven today, stayed focused and recovered after a drawdown.


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  #64 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


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  #65 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

+40 ticks for an hour's work. I think I'm off to shoot pistols for the day.


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  #66 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

P/L for the day.

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  #67 (permalink)
Birmingham, AL
 
Experience: Intermediate
Platform: SierraChart
Broker: DDT/Rithmic
Trading: TF/ZN/CL
 
WarEagle's Avatar
 
Posts: 30 since Apr 2010
Thanks: 56 given, 25 received

Hi Indextrader7,

I can't believe it...another trader in Birmingham! I thought for sure I was the only one (well actually there is one other that is a good friend of mine, but we are definitely a rare breed). I live down in Alabaster. I've never posted here but I had to say hi.

It looks like you are doing great. I like your approach to stats. Every successful trader I know keeps detailed records (a weakness of mine actually).

Looking forward to interacting with you more.

Take care,
WarEagle (yep, Auburn grad :-) )
aka Kirk

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  #68 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


WarEagle View Post
Hi Indextrader7,

I can't believe it...another trader in Birmingham! I thought for sure I was the only one (well actually there is one other that is a good friend of mine, but we are definitely a rare breed). I live down in Alabaster. I've never posted here but I had to say hi.

It looks like you are doing great. I like your approach to stats. Every successful trader I know keeps detailed records (a weakness of mine actually).

Looking forward to interacting with you more.

Take care,
WarEagle (yep, Auburn grad :-) )
aka Kirk

Hey, thanks for posting. Nice to know there are other traders in the area!

As far as stats go, I'd start with something simple to get your feet wet, and start building a good habit. You don't have to make your stats complicated, just keep up with avg win/avg loss, % win, and an equity curve. At least this will make you painfully aware of how you're performing. Make that post-session review as much a part of your process as the trading itself is.

Roll Tide my man,

-IT7

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  #69 (permalink)
Birmingham, AL
 
Experience: Intermediate
Platform: SierraChart
Broker: DDT/Rithmic
Trading: TF/ZN/CL
 
WarEagle's Avatar
 
Posts: 30 since Apr 2010
Thanks: 56 given, 25 received


indextrader7 View Post
Roll Tide my man

Figures...well, nobody's perfect.... ;-) j/k

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  #70 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


It's interesting to see what happens to my trading stats whenever I transition over to scalping.


Very active trade management leads me to a lot more winners, but some of them for 1 or 2 ticks so it hurts my avg win size.

Psychologically, I turn my focus to win % when I am in scalping mode. If I focused on avg win to avg loss, it can actually harm my trading performance.

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