D4YTR4D3R - Trading Journals | futures io social day trading
futures io futures trading


D4YTR4D3R
Updated: Views / Replies:4,257 / 36
Created: by AttitudeTrader Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

D4YTR4D3R

  #11 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Charts/DOM For Tuesday 07/03

Trade #1) NQ: Pullback to OS low in uptrend. Hilbert SineWave (HSW) crossing to upside on NQ 150T & ES 500T. Premature – price had a rapid sell off – out at hard stop. -2.50 pts

Trade #2) NQ: Pullback to overnight support and rising moving averages in uptrend. HSW still up on NQ 150T & ES 500T. Target/profit a few ticks before next possible resistance level: minor swing high, also HOD at the time, also break of immediately preceding minor swing high. +4.00 pts

- D4

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Sim:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following 2 users say Thank You to AttitudeTrader for this post:
 
  #12 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Charts & DOM For Thursday 07/05

Trade #1) Long ES at test of over night support. Long-term trend was up, but short-term trend was down as evidenced by ema's on my charts. Shouldn't have been buying here – low probability setup. Got out on second test of OS high and test of falling ema on ES 1500T & ES 500T. +0.50 pts.

Trade #2) Short ES on pullback to previous support and falling ema's. Out at hard stop. -2.00 pts.

Trade #3) Long NQ on pullback to previous resistance and rising ema's. HSW turning up on 450T and 150T. Out at full target. +4.00 pts.

Trade #4) Long ES on pullback to rising ema's. HSW turning up on 1500T and 500T. Out a few ticks below prior resistance level & HOD. +1.50 pts.

Trade #5) Long NQ on pullback to previous resistance and rising ema's. I belatedly realized that price had already reached overnight resistance. Out at hard stop. -2.50 pts.

Taking tomorrow (Friday) off - spending the day with the wife. Have a good day of trading and a great weekend.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Sim:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------

Last edited by AttitudeTrader; July 5th, 2012 at 09:23 PM.
Reply With Quote
The following 3 users say Thank You to AttitudeTrader for this post:
 
  #13 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Weekly Stats


I eliminated the "Points" column this week because I'm trading more than one instrument and a total points number is pretty meaningless as different instruments have different point values.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------

Last edited by AttitudeTrader; July 7th, 2012 at 02:56 PM.
Reply With Quote
The following 3 users say Thank You to AttitudeTrader for this post:
 
  #14 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,139 given, 4,387 received
Forum Reputation: Legendary

Thanks for Sharing

Thanks for sharing your trading journal. I hope you find much success.

FYI:

I notice that your Expectancy is also your average profit per trade. That is likely based on a misleading definition that Van Tharp gave in an early edition of one of his books, and has circulated around the internet.

In the second edition of the same book, Tharp "corrects" his expectancy calculation to account for the risk per trade. Now, he says expectancy is the average profit per trade divided by the average loss.

You might find this updated calculation useful, since it takes into account your average loss.

So, for example, in your case, if your average profit per trade is $27, and your average loss is $500, your expectancy is 27/500 = .05 (not that great). But, if your average loss is only $100, your expectancy is 27/100 = .27, which is pretty good.

Maybe you will find this new metric useful. Maybe not.

In any event, I am pulling for your trading success!


Note that in the futures.io (formerly BMT) wiki entry for expectancy, this different risk adjusted return calculation of expectancy is described at the bottom.


Last edited by kevinkdog; July 8th, 2012 at 11:02 AM. Reason: added note about wiki entry for expectancy
Reply With Quote
The following user says Thank You to kevinkdog for this post:
 
  #15 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Expectancy


kevinkdog View Post
Thanks for sharing your trading journal. I hope you find much success.

FYI:

I notice that your Expectancy is also your average profit per trade. That is likely based on a misleading definition that Van Tharp gave in an early edition of one of his books, and has circulated around the internet.

In the second edition of the same book, Tharp "corrects" his expectancy calculation to account for the risk per trade. Now, he says expectancy is the average profit per trade divided by the average loss.

You might find this updated calculation useful, since it takes into account your average loss.

So, for example, in your case, if your average profit per trade is $27, and your average loss is $500, your expectancy is 27/500 = .05 (not that great). But, if your average loss is only $100, your expectancy is 27/100 = .27, which is pretty good.

Maybe you will find this new metric useful. Maybe not.

In any event, I am pulling for your trading success!


Note that in the futures.io (formerly BMT) wiki entry for expectancy, this different risk adjusted return calculation of expectancy is described at the bottom.

Thanks! Very interesting.

I just created a new column to calculate E as you've described and it is the same as my Avg W:L (avg wing / avg loss) figure (currently 1.01).

With the E I've been using, I was thinking of it as "how much profit (or loss) I make, on average, every time I take a trade."

And with my Avg W:L, I was looking at it as "anything above 1.00 is positive." If this figure is the "correct" E, then I'll have to re-frame the way I'm looking at this number.

I'll look into this more closely. Thanks for the input!

Have a good one.

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
The following user says Thank You to AttitudeTrader for this post:
 
  #16 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,139 given, 4,387 received
Forum Reputation: Legendary


D4YTR4D3R View Post
Thanks! Very interesting.

it is the same as my Avg W:L (avg wig / avg loss) figure (currently 1.01).

Sorry, I did not describe it accurately. It is your avg trade / avg loss, Not your avg win / avg loss.

In your case, take the value you are currently using as "E" (which is your avg profit per trade), and divide it by your avg loss. Most strategies have a value between 0 and .25.

I hope this is clearer. Sorry bout that!

Kevin

Reply With Quote
The following user says Thank You to kevinkdog for this post:
 
  #17 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Phew!


kevinkdog View Post
Sorry, I did not describe it accurately. It is your avg trade / avg loss, Not your avg win / avg loss.

In your case, take the value you are currently using as "E" (which is your avg profit per trade), and divide it by your avg loss. Most strategies have a value between 0 and .25.

I hope this is clearer. Sorry bout that!

Kevin

Thanks for the clarification! I was worried that I woke up this morning a lot dumber than yesterday (which is still quite possible).

I corrected the calculation in my trade log and the number now stands at 0.29. Per your explanation above it appears that this is a decent number.

I'll still have to look at it over time to understand what it "means" to me. In other words I don't really have a context for using it yet. I will however make adjustments to my weekly stats grid to include it.

Thanks again.

Update: Here's a link to another futures.io (formerly BMT) thread discussing Expectancy.

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------

Last edited by AttitudeTrader; July 8th, 2012 at 01:00 PM. Reason: Added link to a BMT Expectancy discussion thread
Reply With Quote
 
  #18 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Modified Weekly Stats Grid

I've modified my Weekly Stats grid to incorporate the "corrected" expectancy calculation as described by @kevinkdog in the post(s) above, and re-titled the previous "E" column to "Avg Trade." Thanks Kevin!

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote
 
  #19 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,139 given, 4,387 received
Forum Reputation: Legendary


D4YTR4D3R View Post
Thanks for the clarification! I was worried that I woke up this morning a lot dumber than yesterday (which is still quite possible).

I corrected the calculation in my trade log and the number now stands at 0.29. Per your explanation above it appears that this is a decent number.

I'll still have to look at it over time to understand what it "means" to me. In other words I don't really have a context for using it yet. I will however make adjustments to my weekly stats grid to include it.

Thanks again.



.29 would mean for every $100 you risk in the market (actually, your average loss), your system will eventually profit $29.

As a contrast, let's say your expectancy is .10. That would mean for every $100 you risk in the market over time you earn $10.

The nice thing is that the calculation gives you an idea of risk adjusted reward, and makes it easier to compare different strategies.

Reply With Quote
The following user says Thank You to kevinkdog for this post:
 
  #20 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
AttitudeTrader's Avatar
 
Posts: 358 since Oct 2009
Thanks: 6,868 given, 857 received

Ah!



kevinkdog View Post
.29 would mean for every $100 you risk in the market (actually, your average loss), your system will eventually profit $29.

As a contrast, let's say your expectancy is .10. That would mean for every $100 you risk in the market over time you earn $10.

The nice thing is that the calculation gives you an idea of risk adjusted reward, and makes it easier to compare different strategies.

Ah! Got it!

Alright, thanks again for turning me on to this way of looking at my performance and helping me to understand it. I appreciate it.

Have a good one.

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------
Reply With Quote

Reply



futures io > > > D4YTR4D3R

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 03:25 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 18 queries on phoenix via your IP 54.196.201.241