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GruttePier's trading journal to getting profitable
Started:October 11th, 2015 (12:20 PM) by GruttePier Views / Replies:39,370 / 758
Last Reply:Yesterday (03:33 PM) Attachments:296

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GruttePier's trading journal to getting profitable

Old June 22nd, 2016, 02:28 PM   #461 (permalink)
Market Wizard
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Inletcap View Post
I can't find a link to the replay... @Big Mike being slack or am I looking in the wrong place as I don't see "An afternoon" with anyone?

It hasn't even been 24 hrs yet. Mike has the recording give him sometime to upload.

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Old June 22nd, 2016, 02:33 PM   #462 (permalink)
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Here is the webinar recording:



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.

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to support our community, become an Elite Member.

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Old June 22nd, 2016, 02:33 PM   #463 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 45,561 since Jun 2009
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What did everyone think of the webinar?

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
     
The following 2 users say Thank You to Big Mike for this post:
     

Old June 22nd, 2016, 02:45 PM   #464 (permalink)
Market Wizard
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Big Mike View Post
What did everyone think of the webinar?

Mike

(a) Well-done by @GruttePier (Terry, too )

(b) A good idea to have presentations from FIO members. We should continue, once the current crop of scheduled webinars are done.

(c) A good crib sheet for anyone who may have been wondering what to say, when his time comes. ()

Bob.

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Old June 22nd, 2016, 03:47 PM   #465 (permalink)
Market Wizard
Amsterdam, The Netherlands
 
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June 22nd

Futures Edge on FIO
No trades, but BBQ instead.
Note that today went according to my bias sofar :-)

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


Last edited by GruttePier; June 22nd, 2016 at 03:52 PM.
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Old June 22nd, 2016, 04:06 PM   #466 (permalink)
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tturner86 View Post
It hasn't even been 24 hrs yet. Mike has the recording give him sometime to upload.


Big Mike View Post
Here is the webinar recording:



Mike

See- he just needed a little nudge

Thanks guys for all your hard work!! Y'all know I was just poking a stick at him with that comment

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Old June 22nd, 2016, 04:12 PM   #467 (permalink)
Market Wizard
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twosigma View Post
Thanks GruttePier for a great webinar It was well organized and covered your execution and thought process.

Thanks!



twosigma View Post
1) what's the equation for "Total net profit (points)"? does it include trade size?

It's the cumulative P&L in points. So gross profit - gross loss.


twosigma View Post
2) what's the equation for "Risk per trade (points)"?

When I enter a trade, I define the max risk I want to take on this trade (aka where do I place my stop).
The "Risk per trade (points)" is the average of this risk.


twosigma View Post
3) is "Profit as a % of total risk" summed over the whole month, for example, (total monthly profit) / (total monthly risk)? if not, how do you define it?

Right. I calculate the following: total_net_profit_in_points divided by (number_of_trades * average_risk_per_trade)

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Old June 22nd, 2016, 04:22 PM   #468 (permalink)
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bobwest View Post
(a) Well-done by @GruttePier (Terry, too )

(b) A good idea to have presentations from FIO members. We should continue, once the current crop of scheduled webinars are done.

(c) A good crib sheet for anyone who may have been wondering what to say, when his time comes. ()

Bob.

I agree and I can't thank @GruttePier enough as he set a great example for the others to follow.

I have a shortlist of traders I am approaching and we will continue these throughout the year. I am hoping that we can cap it next year with @Big Mike's afternoon part 2.

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Old June 22nd, 2016, 04:26 PM   #469 (permalink)
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Anatta View Post
@GruttePier
Could you elaborate a bit on your stat regarding the "Closed manually with loss"
of which good decision (price >= 3 pts further) ?
of which bad decision (price <= 3 pts further) ?

My intention with these specific stats is to measure the quality of my entries, stops, profit targets and manual closures with profit, loss and breakeven. I don't measure this by looking at the actual P&L (because that is irrelevant), but looking in hindsight as follows:
- For entries: how big was the actual move? More than 3 points, 5 points, 10 points? So, how big was the move that was able to catch, regardless of the profit on this trade
- For stops: how many times did it get hit and how many times was the stop too tight (in hindsight)?
- For profit targets: if it got hit, how much more points did the move make? 3 points, 5 points, 10 points, ... The less more points the move made, the better my profit target was
- For manual closures: was it a good decision (in hindsight) to close the trade? I consider it a bad decision if price moves 3 or more points in my favor because it was better to stay in the trade then. And I consider it a good decision if price moves less than 3 points in my favor after closing it because apparantly I nailed it.

Once can debate that the 3, 5, 10 and 15 points that I'm measuring are not volatility adjusted, but since I'm trading price levels I believe this doesn't mind.

Does it make sense?

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Old June 22nd, 2016, 04:28 PM   #470 (permalink)
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tturner86 View Post
I agree and I can't thank @GruttePier enough as he set a great example for the others to follow.

I have a shortlist of traders I am approaching and we will continue these throughout the year. I am hoping that we can cap it next year with @Big Mike's afternoon part 2.

Thank you, Terry and others!
I really liked doing this and sharing my experience with the group.

Hopefully the "Afternoons with ..." continue, I really like the concept and have a shortlist also

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