Been trading for almost a year and since at least two months ago I been breaking even most of the time, profits and less and less losing days on CL and ES...... Is this a good sign for new Traders like myself ????
The following user says Thank You to rcabrera1 for this post:
We need more information to give you proper advice, both quantitative and qualitative.
Quantitative- You should have a bunch of data on your 1 year performance, post more of that in here. Month over month performance, expectancy, drawdowns, R/R, etc.
Qualitative-P&L isn't everything, are you trading better now than you were before? What were your previous downfalls and how did you deal with them? In what ways are you a better trader? What are your current downfalls? What does your trading process look like?
Yesterday's excellence is today's standard and tomorrow's mediocrity
The amount of winning days vs loosing days is just part of it.
I actually made lost of mistakes if not all that every other trader has in their trading journal.
Quick samples of mistakes and corrections.
Was not able to stick to just one system/strategy, kept going back and forward between time frames, indicators, setups etc. This is now I would say 99% corrected, sticking to just one system/strategy, not using indicators as I used to.
Position management problems, once in a trade i used to move targets, stops, get out based in emotions etc. This is now around 80% corrected but still working on some small details that are not helping me reaching my targets some times.
Emotions, fear and greed. For the last couple of months I think I am dealing with this very good. This is a probability business and anything can happen even when you have your best setup in place. Trading in the Zone helped a lot with this.
Regarding P/L, one of my rules that had help is not looking at $$$ but tick amount. Before I used to have bigger loosing days vs winning had to adjust risk ratio to fix this problem, now I have bigger winning days and try to keep loosing days small.
@SoftSoap and @rocksolid68 I hope this information helps a little bit more than before......
Last edited by rcabrera1; October 7th, 2016 at 06:24 PM.