Favorite Futures: currency and index futures, grains, bonds, oil, gas, metals
Posts: 51 since Mar 2012
Thanks: 6 given,
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.
The following 3 users say Thank You to toucan94506 for this post:
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.
WarEagle (yep, Auburn grad :-) )
The following user says Thank You to WarEagle for this post:
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.