NexusFi: Find Your Edge


Home Menu

 





Wins, Losses, Good strategy, Bad strategy.


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one DavidBaxter with 5 posts (1 thanks)
    2. looks_two kevinkdog with 5 posts (12 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 choke35 with 1 posts (2 thanks)
    1. trending_up 2,972 views
    2. thumb_up 15 thanks given
    3. group 6 followers
    1. forum 12 posts
    2. attach_file 0 attachments




 
Search this Thread

Wins, Losses, Good strategy, Bad strategy.

  #1 (permalink)
DavidBaxter
Sydney, Australia
 
Posts: 6 since Jan 2016
Thanks Given: 2
Thanks Received: 1

Hello,

This will be my trading journal.

Just starting Futures. Learning spreads, new hedging strategies and high volume click trading. Where I might have taken 30 trades in a day before, I have to take 300 now. All off the DOM which is also a kick in the face for a newbie.

Please, if you have any ideas on how I'm doing it wrong, or how I'm doing it right, share it with me so I can use this thread as a textbook.

I will record all my trades, the reasons I took those trades and whether or not I'd do the same thing again. After all a fraction of a good trading strategy is having good timing.

let me know what you think.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
ZombieSqueeze
Platforms and Indicators
Better Renko Gaps
The Elite Circle
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Futures True Range Report
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
Battlestations: Show us your trading desks!
26 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
  #3 (permalink)
 choke35 
Germany
 
Experience: Intermediate
Platform: Other
Trading: ES, YM, 6E
Posts: 2,668 since Feb 2013
Thanks Given: 5,101
Thanks Received: 6,558



DavidBaxter View Post
Hello,

This will be my trading journal.

Just starting Futures. Learning spreads, new hedging strategies and high volume click trading. Where I might have taken 30 trades in a day before, I have to take 300 now. All off the DOM which is also a kick in the face for a newbie.

Please, if you have any ideas on how I'm doing it wrong, or how I'm doing it right, share it with me so I can use this thread as a textbook.

I will record all my trades, the reasons I took those trades and whether or not I'd do the same thing again. After all a fraction of a good trading strategy is having good timing.

let me know what you think.

Not to be rude, but: The perceived number of (potential) trades sounds like complete overtrading without any clue what's going on.

Some advice:
  • Separate the process of learning platform features like DOM from trading, i.e. first learn and sharpen your tools and use them afterwards.
  • Develop a set of rules for choosing trades and evaluate it, e.g. by backtests; if the rules generate positive results and you put real money on the line, follow the rules.
  • Reduce overtrading (mostly a personal issue).

P.S.: Reading FIO journals + threads will give you a better perspective. You're not alone.

Reply With Quote
Thanked by:
  #4 (permalink)
DavidBaxter
Sydney, Australia
 
Posts: 6 since Jan 2016
Thanks Given: 2
Thanks Received: 1


choke35 View Post
Not to be rude, but: The perceived number of (potential) trades sounds like complete overtrading without any clue what's going on.

Some advice:
  • Separate the process of learning platform features like DOM from trading, i.e. first learn and sharpen your tools and use them afterwards.
  • Develop a set of rules for choosing trades and evaluate it, e.g. by backtests; if the rules generate positive results and you put real money on the line, follow the rules.
  • Reduce overtrading (mostly a personal issue).

P.S.: Reading FIO journals + threads will give you a better perspective. You're not alone.


Thank you very much, that is exactly why I started this. Direction. I look into it.

The firm I am currently trying for is fairly well established, and have been running us on drills to see how we perform. I am used to taking 20-30 trades a day, a conservative scalper, only going for 1 contract on a single tick. But if their methods work for them, I'll have to follow and see where that take me.
On your second point, I have an old strategy which has been tying in quite well. I agree overtrading can be a problem for me, especially when I take a trend continuation trade, get out out where I wanted to, but then without actually looking for my strategy rules for entering, re-enter the market and end up breaking even. Overtrading.

The DOM is made easier by the old strategy but I feel foolish revealing it. Are there any well known DOM training/trader journals/threads you could suggest Choke?

Regards

David

Reply With Quote
Thanked by:
  #5 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338


DavidBaxter View Post
Hello,

This will be my trading journal.

Just starting Futures. Learning spreads, new hedging strategies and high volume click trading. Where I might have taken 30 trades in a day before, I have to take 300 now. All off the DOM which is also a kick in the face for a newbie.

Please, if you have any ideas on how I'm doing it wrong, or how I'm doing it right, share it with me so I can use this thread as a textbook.

I will record all my trades, the reasons I took those trades and whether or not I'd do the same thing again. After all a fraction of a good trading strategy is having good timing.

let me know what you think.


Can you define what your edge is?

Follow me on Twitter Reply With Quote
Thanked by:
  #6 (permalink)
DavidBaxter
Sydney, Australia
 
Posts: 6 since Jan 2016
Thanks Given: 2
Thanks Received: 1


kevinkdog View Post
Can you define what your edge is?

Basically, I'm still a TA trader watching for reversals and trying to catch it when I see a bank of numbers building up on the DOM. But over the course of the next year, I hope to move entirely to the DOM, seeing where the change is on the chart and then seeing that on the DOM will help in that conversion.

It's a pretty standard stance on trading, I think. What's your edge?

cheers.

Reply With Quote
  #7 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338


DavidBaxter View Post
Basically, I'm still a TA trader watching for reversals and trying to catch it when I see a bank of numbers building up on the DOM. But over the course of the next year, I hope to move entirely to the DOM, seeing where the change is on the chart and then seeing that on the DOM will help in that conversion.

It's a pretty standard stance on trading, I think. What's your edge?

cheers.

I think what you have is a theory about how the market works. Unfortunately, that by itself is not an edge.

An edge might be possible from taking that theory, putting detail behind it, historically evaluating it, and determining that it has long term positive expectancy.

Just my 2 cents.

Follow me on Twitter Reply With Quote
  #8 (permalink)
DavidBaxter
Sydney, Australia
 
Posts: 6 since Jan 2016
Thanks Given: 2
Thanks Received: 1


kevinkdog View Post
I think what you have is a theory about how the market works. Unfortunately, that by itself is not an edge.

An edge might be possible from taking that theory, putting detail behind it, historically evaluating it, and determining that it has long term positive expectancy.

Just my 2 cents.

Alright, so how would you personally go about that? what is your edge? I don't mean to sound like a crying child, I'm just looking for direction.

Reply With Quote
  #9 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338


DavidBaxter View Post
Alright, so how would you personally go about that? what is your edge? I don't mean to sound like a crying child, I'm just looking for direction.

I'm glad you asked. Most people never even bother to really figure out if they have an edge. Most people also lose.

So, let's say you want to use your theory. Take that theory, and flesh it out...

I will enter long if a reversal (which you have to define) is supported by DOM numbers (which you have to define). I will exit via these methods: XXX, YYY.

Basically, nail down exactly how you want to trade.

Then, test the theory over hundreds or thousands of trades. If you are using the DOM, you really won't be able to backtest, unless you can find a DOM replay. So you may be stuck testing in real time, which will be tough.

The point is: how do you know your reversal is good? Or your DOM number threshold? Or your exits?

I'm saying you test it as well as you can, before you start trading with it. Otherwise, in my opinion you are just guessing.

Of course, it is a whole lot more complicated to do this than it sounds. Testing is hard. That's why most don't do it. But as I said, most people also lose, and that is one reason why.

Follow me on Twitter Reply With Quote
  #10 (permalink)
DavidBaxter
Sydney, Australia
 
Posts: 6 since Jan 2016
Thanks Given: 2
Thanks Received: 1



kevinkdog View Post
I'm glad you asked. Most people never even bother to really figure out if they have an edge. Most people also lose.

So, let's say you want to use your theory. Take that theory, and flesh it out...

I will enter long if a reversal (which you have to define) is supported by DOM numbers (which you have to define). I will exit via these methods: XXX, YYY.

Basically, nail down exactly how you want to trade.

Then, test the theory over hundreds or thousands of trades. If you are using the DOM, you really won't be able to backtest, unless you can find a DOM replay. So you may be stuck testing in real time, which will be tough.

The point is: how do you know your reversal is good? Or your DOM number threshold? Or your exits?

I'm saying you test it as well as you can, before you start trading with it. Otherwise, in my opinion you are just guessing.

Of course, it is a whole lot more complicated to do this than it sounds. Testing is hard. That's why most don't do it. But as I said, most people also lose, and that is one reason why.

I'm game, I'll test it. I have a few more questions if you don't mind. I do generally feel like my strategy has a lot of guesswork factors in it.

could you share with me your edge? do you trade in a similar fashion and minimized risk in a certain way? TA? DOM levels? not trading news? Trading news? only trading start or end of particular sessions?

Another issue for me is that I haven't yet stared at a DOM long enough to see when levels are actually levels and not just a group of traders trying to make that level looks strong, until the market gets there and they remove all their orders... I've only read and heard about those situations.
So for me to state where a good entrance is on the DOM, with that in mind, would be guesswork as well.


anyways thanks for pushing me in the right direction!

Reply With Quote




Last Updated on February 7, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts