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How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:49,339 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

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How I Trade For a Living

Old October 11th, 2016, 04:24 PM   #291 (permalink)
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rocksolid68 View Post
The webinar went really well!

I am not so sure what you mean by giving it a multi-day head start.

It is the same link every day. Either click the one I post in the morning or save one of them and just use it over and over again.


Oh, I am mistaken I reckon'. I thought this was your first one. I do not recall seeing any of these announcements in your thread previously, but I have not been following it for long. I'll endeavor to keep an eye out in the future!

Maybe you had been posting it in Elite section, which I cannot access yet.

     
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Old October 11th, 2016, 05:42 PM   #292 (permalink)
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Hey everyone!

I am building a simple Excel spreadsheet for keeping track of how I do in the webinar room!

Keep in mind that these are MY STATS! People that have chosen to follow my trades may vary in results!

Before I get that up, here is the current stats for the first two days:

DAY 1:
Trades (flat to flat): 1
Contracts per trade: 2
PnL: -$125


DAY 2:
Trades (flat to flat): 1
Contracts per trade: 2
PnL: +$525

Running total PnL: +$400
Average Day: +$200


These are the things that will be in the spreadsheet. Any suggestions? I want to keep it clean and simple, but suggestions are welcome!

     
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Old October 11th, 2016, 09:36 PM   #293 (permalink)
Market Wizard
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Alex...


I encourage you to not do that...keep a spread sheet of daily p/l. The guys watching will know if you rock or if you suck. Spend your time and energy on making good trades. Make consistent good trades and EVERYTHING else in life will speak for itself.

As part of your regular daily review, take a look at your bottom 20% of trades...yes that might be more appropriate on a weekly basis. Be concerned with the why of the in and out so that you drill down on where your errors come. Eliminate those errors and trade from a place where your bottom 20% of trades start to include winners.

I other words don't focus on the score board, execute to the best of your ability consistent with a great game plan.

Be well and trade well.

     
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Old October 11th, 2016, 10:12 PM   #294 (permalink)
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wldman View Post
I encourage you to not do that...keep a spread sheet of daily p/l. The guys watching will know if you rock or if you suck. Spend your time and energy on making good trades. Make consistent good trades and EVERYTHING else in life will speak for itself.

As part of your regular daily review, take a look at your bottom 20% of trades...yes that might be more appropriate on a weekly basis. Be concerned with the why of the in and out so that you drill down on where your errors come. Eliminate those errors and trade from a place where your bottom 20% of trades start to include winners.

I other words don't focus on the score board, execute to the best of your ability consistent with a great game plan.

Be well and trade well.

Thanks @wldman.

I have been getting many mixed statements on whether or not I should keep a track record.

Many people want me to, but there are those like yourself that think I would be better off not doing so.

Which should I do?

EDIT: I reread your post... What are you NOT wanting me to do exactly?

     

Old October 11th, 2016, 10:58 PM   #295 (permalink)
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Futures Edge on FIO

rocksolid68 View Post
Thanks @wldman.

I have been getting many mixed statements on whether or not I should keep a track record.

Many people want me to, but there are those like yourself that think I would be better off not doing so.

Which should I do?

EDIT: I reread your post... What are you NOT wanting me to do exactly?

Hey if you not charging for the room....why you need a spread sheet. Unless ofcourse you want it at some point and at which point folks will also ask for an audited track record depending on the money you attracting.

Seems you wanted to do this to probably help/guide newer traders. Why would they be interested in your PnL. If they learn thats what they should take from the experience. Unless ofcourse they there to try and copy your trades. Or there to understand if you are worth learning from.

well guess its upto you. But if its a spreadsheet...i think it would be for yourself and not for showing it to the world. And also will a spreadsheet help you in understanding your mistakes...probably your charts or whatever you use will tell you that at EOD analysis.

cheers n best

     
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Old October 12th, 2016, 10:00 AM   #296 (permalink)
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Spreadsheet or not to spreadsheet....

Basically, why not?

It helps if you know what you've done.

In the scheme of things, it's probably no big deal, but why not know it?

Just a small thought today.

Bob.

     
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Old October 12th, 2016, 10:03 AM   #297 (permalink)
Hungry for knowledge
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paps View Post
Hey if you not charging for the room....why you need a spread sheet. Unless ofcourse you want it at some point and at which point folks will also ask for an audited track record depending on the money you attracting.

Seems you wanted to do this to probably help/guide newer traders. Why would they be interested in your PnL. If they learn thats what they should take from the experience. Unless ofcourse they there to try and copy your trades. Or there to understand if you are worth learning from.

well guess its upto you. But if its a spreadsheet...i think it would be for yourself and not for showing it to the world. And also will a spreadsheet help you in understanding your mistakes...probably your charts or whatever you use will tell you that at EOD analysis.

cheers n best

Great Point !!! Your not charging for the room.

If it takes up time and takes away from your trading, don't do the spread sheet. If it's not very time consuming and you feel it might improve on your trading, then go for it.

     
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Old October 12th, 2016, 11:31 AM   #298 (permalink)
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Hi Alex


rocksolid68 View Post
Thanks @wldman.

I have been getting many mixed statements on whether or not I should keep a track record.

Many people want me to, but there are those like yourself that think I would be better off not doing so.

Which should I do?

EDIT: I reread your post... What are you NOT wanting me to do exactly?

My opinion on this is that if guys want to monitor your track record, they should monitor their own. Doubting you or confirming you will not pay them. When I was prolific here and posting trades my inbox filled up with doubters and distractions. Nobody needs that.

One a personal level, if you want to monitor the account you have to look no further than your statements, which would include a daily record. It has just been my experience that sometimes there are good trade set ups that result in losing trades. When I focus on the "score" I start to modify good trade set ups because the result failed. It is easy to become a "changer" then always tweaking entries...chasing a nirvana that does not exist. Just my opinion.

covered the 33 at 35, so yeah...Dang it.

     
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Old October 12th, 2016, 02:00 PM   #299 (permalink)
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wldman View Post
When I was prolific here and posting trades my inbox filled up with doubters and distractions. Nobody needs that.

I think I agree with Dan on this, changing my mind on the spreadsheet question.

I recall reading that @Inletcap no longer publishes the size of his trades or the amounts of P/L, for a similar reason.... Money seems to make some people go nuts, and he got bombarded with BS about it.

So, probably it's better to just let people follow the trades as they happen, and they will get what they get from it.

Bob.

     
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Old October 12th, 2016, 02:16 PM   #300 (permalink)
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bobwest View Post
I think I agree with Dan on this, changing my mind on the spreadsheet question.

I recall reading that @Inletcap no longer publishes the size of his trades or the amounts of P/L, for a similar reason.... Money seems to make some people go nuts, and he got bombarded with BS about it.

So, probably it's better to just let people follow the trades as they happen, and they will get what they get from it.

Bob.


Going to agree with Bob and Dan. There have been several traders including Big Mike who have posted trades / size etc and it always ended badly. There was one trader in particular, cant remember the name but he was holding a surfboard in his profile pic, who started out with a great amount of enthusiasm posting trades everyday and ended up going down hill fast and eventually got banned. His journal would be worth reading on what not to do. My advice; be cautious in what you share.

Robert

nosce te ipsum

You make your own opportunities in life.
     
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