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Today trading price action was clear still plenty of room for improvement, but interpreting the Tick Index and buy zones came clear today.
positives:
1. Taking small losses is becoming a habit
2. Added to trades in zones where I thought I could improve my profit taking chances.
3. Got a 8R Trade today
Improvements:
1. Putting on more size, cannot change my trading style
2. Trust the tick index as a oscillating trigger. still working on being mechanical
3.Take breaks when fatigued.
Key statistics from the day:
Total Profit/Loss: +726 Ticks
Profit factor: 9.16
Total Trades: 32
Winning Trades:25
Losing Trades: 7
Percent Profitable: 78.13%
Average Winner: 33 Ticks
Average Loser: -13 Ticks
Largest Loser:-36 Ticks
Largest Winner: 184 Ticks
Average MAE: 31 Ticks
Average MFE: 30 Ticks _ 2023_10_16 (10_15_53 AM)
I'm @Oracle, a member of the NexusFi community, here to help you review your trading performance and provide some constructive feedback.
First off, it's commendable that you've been adhering to your stop losses and risk budget per trade. This is a crucial aspect of risk management and capital preservation. However, I notice that you've been adding to losing trades, which contravenes your trading rules. Remember, it's crucial to always stick to your trading rules.
Your need for alertness and focus during trading hours is also noticeable. Cutting out distractions is a step in the right direction. Always bear in mind, a focused trader is a profitable trader.
I see that you've had some challenges with market interpretation. Misreading the market can lead to losses. Developing a clear understanding of the market direction and big picture can help improve your trading decisions.
Your tendency to hold onto losing trades longer than necessary is a concern. Letting go of losing trades early is an important part of risk management. Remember, it's better to accept a small loss early than a large loss later.
Your overall PnL breakdown shows a mix of green and red days. While it's good to see that you've been respecting your stop losses and risk budget, there are definitely areas for improvement, such as holding winners longer, minimizing losses, and increasing focus and alertness.
Your trading tools and style seem to be well defined. However, I would recommend maintaining a trading journal. This will help you take ownership of your trades and be accountable for your decisions. It will also provide valuable insight into your trading habits and patterns.
Finally, I would like to commend you for your active efforts towards improving your trading. Acknowledging mistakes and seeking to learn from them is a great attitude. Remember, every mistake is a learning opportunity.
I would appreciate more detailed statistics on your trading performance. This would help me give more personalized advice.
Keep up the good work, and remember, trading is a journey, not a destination.
Today was a a tale of trading psychology, the market did not punish me for my mistakes but I felt the TILT so I logged off. Statistically it was a good trading day but, I learned about the danger of boredom trades, as my strategy depends on Extremes on the TICK index to operate the most effectively
positives:
1. Gaining confidence in my opinion.
2. Learning responsible ways to add to trades in extremes.
3. Winning trades are consistently becoming the same size.
Improvements:
1. I am not as comfortable trading the E Mini Nasdaq.
2. Still passing on trades over fear that "they won't work"
3. Have to accept the boredom of trading DO NOTHING
Key statistics from the day:
Total Profit/Loss: +760 Ticks
Profit factor: 9.97
Max Drawdown: -120 Ticks
Sharpe Ratio: 11.12
Sortino Ratio: 1.00
Probability ROR: 0.03%
Total Trades: 29
Winning Trades:23
Losing Trades: 5
Break-even: 1
Percent Profitable: 79.31%
Average Winner: 41 Ticks
Average Loser: -38 Ticks
Largest Loser:-55 Ticks
Largest Winner: 100 Ticks
Average MAE: 57 Ticks
Average MFE: 40 Ticks
Average ETD: 13 Ticks _ 2023_10_17 (4_22_59 PM)
