100k or Blowout - My First Discretionary Day Trading System

themickey said:
What is 3k9?
More...
pups-3.jpg
 
themickey said:
You lost 11% of trading capital in one week. That's a huge loss in anyone's language.
Suggest start small until you have bedded down the strategy.
Winning should be the goal, not how much profit, but ensuring that your system wins.
By surviving you have a better chance of success, forget about size of $ profits, concentrate on staying in as long as possible and that means trade small.
More...

This "experiment" started with 18.000 which is the capital allocation for ONE mini sized system. If I lose the 10.000 that's less than 1% of my trading account. I'm surviving ok, what i do want is to maximize my return on capital. I don't care about "number of wins" (within reason), if I want a 90% win rate I sell 10 delta options (meaning a high win rate alone doesn't mean much in overall performance). It doesn't maximize overall returns. You have to grow and experiment or you'll die, taking a small portion of your trading account and trying something out is pretty common. All my algo systems have a performance decay, you constantly have a pipeline of ideas that you'll need to attend as your longer running systems may perform worse over time.

If you "incubate" a system (discretionary or automated) you need to give it room to grow or die, and the sooner you know which direction it's going the faster you can adjust or focus on the next idea. I've started all my algorithms out that way except for a larger initial capital allocation since I had more faith in the results as they were better quantified. If the work I put into this so far can't produce some glimmer of hope within a 2 month time then it's time to move on anyway.
 
Overnight said:
You just admitted to the biggest reason for your failure thus far... Games on your trading machine?

No comment.
More...

Failure??? Where do you read that I had bad returns because of these games? I had not optimal returns because I was sometimes distracted.
The games I speak about were those that were installed when Windows was installed (Minesweeper, Freecell...).

I only installed 1 game myself, that is still on my laptop and I play it almost every day. It is called daytrading.
 
I play games between setups, mainly world of tanks on ipad .

Un expected distractions get me, phone calls work or personal mid trade, cost me dear
 
Rough week in general but slightly better week for my discretionary trading. Done for trading for this week - going to the beach

Week 11/12-11/16
Starting Capital: 14k (fully leveraged as part of a larger PM account)
P&L:
11/12: 589
11/13: 872
Weekly P&L: 1461
Double weekly P&L: 2922
Starting Capital for next week:
14k+2k9 = 17k
 
d08 said:
...Yet, I believe 'mastering' your emotions too much will have a negative impact in other aspects of your life...
More...

Wow...that's deep twilight zone stuff statement. Now that cannabis is legal here in Canada...time to get a joint, read through my latest photography magazine that arrived in the mail the other day to go further down that rabbit hole.

Thanks :sneaky:

wrbtrader
 
  • Like
Reactions: d08
lukepoga said:
so You are doubling your trade sizes so you can test scaling issues?
More...
Mostly to get to larger size or kill the system faster. If it performs well doubling up will shorten the time for the system to contribute to my overall P&L in a significant way. If it performs crappy doubling down will shorten the life span and let me focus on other items.
I don't want to give it too much capital to begin with since doing this discretionary is new for my trading.
 
You have shared your experience on the online trading and discussed about the discretionary trading, these kind of articles will help the investors and youngster to learn some thing new about the investing markets and will be aware of risk and rewards associated with this.
 
You must log in or register to reply here.
Back
Top