Consistency is my goal

[trader198]

the only consistent method, as I know is
mechanic or robot work. but tell your the truth, a mechanic method or programmed work will not work,even produce a perfect consisten results, but not consisten gain. trading is anintelligence game,otherwise the computer will do better job than you, or the computer is the best fit for progammable job.

in order to secure consisten consistent winning or P/L,for example, 80% time winning 20%time losing,keep loss at a consistent fixed number, but winning at amore than twice loss/no up potential limit level, you need do lotsof mental /intelligent work, work harder and harder.

put a stop loss or cut loss thosethings are too superfical

Quote from mastacoli71:

A consistent trading strategy will lead to a consistent P/L. However, I do not believe it is possible to be consistent in trading day after day because markets change, emotions get involved, etc....

In the past the wild P/L swings you mentioned above are what I am trying to minimize but I would only be fooling myself if I think one or two will not pop pop up here and there. The key for me is catching it before it gets out of hand like before.

If my trading strategy was flawed, I would not be trading anymore.

 

[jjf]

Quote from mastacoli71:

A consistent trading strategy will lead to a consistent P/L. However, I do not believe it is possible to be consistent in trading day after day because markets change, emotions get involved, etc....
.

"Consistency is my goal"
"I do not believe it is possible to be consistent"

Your words mastacoli, not mine.

Try rolling these two statements around in your mind for a day or two and see if they appear as ridiculous to you as they do to me.

If indeed they do appear absurd to you, then try this.

"Consistency is my day to day goal and I will do whatever is necessary and change whatever is necessary to achieve this goal .... this goal is my goal, it belongs to me"

 

[mastacoli71]

Quote from jjf:

"Consistency is my goal"
"I do not believe it is possible to be consistent"

Your words mastacoli, not mine.

Try rolling these two statements around in your mind for a day or two and see if they appear as ridiculous to you as they do to me.

If indeed they do appear absurd to you, then try this.

"Consistency is my day to day goal and I will do whatever is necessary and change whatever is necessary to achieve this goal .... this goal is my goal, it belongs to me"

When you quote something, post the complete quote and not take it out of context.

 

[BlackBison]

Quote from trader198:

the only consistent method, as I know is
mechanic or robot work. but tell your the truth, a mechanic method or programmed work will not work,even produce a perfect consisten results, but not consisten gain. trading is anintelligence game,otherwise the computer will do better job than you, or the computer is the best fit for progammable job.

in order to secure consisten consistent winning or P/L,for example, 80% time winning 20%time losing,keep loss at a consistent fixed number, but winning at amore than twice loss/no up potential limit level, you need do lotsof mental /intelligent work, work harder and harder.

put a stop loss or cut loss thosethings are too superfical

This is not good advice. If you have an 80% win rate you do not need an R of 2 to make good money.

My win rate is 70-80% and my R is usually somewhere around 1.

I know a couple of traders who trade similar to me who have an even higher win rate (90%+) but a very poor risk reward (R= 0.5). They do very well and make great money.

As long as you make money over time don't get too caught up in fixing your R or win rate at stupid numbers just because people on a forum who probably are doing worse than you are say so.

 

[mastacoli71]

Quote from BlackBison:

As long as you make money over time don't get too caught up in fixing your R or win rate at stupid numbers just because people on a forum who probably are doing worse than you are say so.

Agree 100%. That is what it boils down. I guess what works for one does not always work for another. That is the great thing about trading and what keeps this market moving.

 

[jjf]

Quote from mastacoli71:

When you quote something, post the complete quote and not take it out of context.

Oddly enough, I am on your side.
I was trying to point out the inconsistency in your statements.

However if you believe that inconsistency is something that always lies outside your reach
and therefore beyond your control, then you will never need to change.

Good luck

 

[mastacoli71]

A good week although P/L does not entirely reflect it. I sized up some this week with little affect on how I managed trades which is a good thing for me.

I focused on 3 strats: RTM, pairs, and Eminis. I actually enjoy trading the Eminis (max 3 contracts at any given time. RTM and Eminis produced consistent results but unfortunately, pairs did not. Options expiration week can be brutal on pairs at times. I can also be my own worst enemy on pairs with too much size too soon, thus the big red day Mon. and negative day Friday. Will be focusing on that once again in the coming weeks.


Week ending 3/18/11
Daily Net P/L: -2300, +4700, -600, 0, -400
Week Net P/L: +1400 on 152,000 shares traded

 

[mastacoli71]

2011 YTD Equity Curve for my prop account

 

[mastacoli71]

Decided to combine prop and retail account for this journal so it matches up with my weekly results posted here. Here it is.

 

[mastacoli71]

Bad week for pairs, options, and futures...good week for intraday stock strats. A lot of correlation between performance of pairs with VIX...hmmmm. Oh well, a portfolio is a portfolio and I have to stick with my trading plan.

I mentioned Eminis in last weeks post. Fun they are as I found out. Thursday was my last day trading them. Not worth the stress for me. Also, options are to the curb. Wish I could figure out how to trade them. Add it to the list of things I want to look at in depth in the future.

With lower volatility, I transistioned to more trend / breakouts on intraday stocks. RTM opportunities are still there just not as plentiful as the previous 2 weeks. I am always amazed at how quickly now volatility can get sucked out of the market.

Here is a breakdown of main strategies for month of March to keep myself in check.

Pairs: +400 (have 9 pairs in my portfolio that I have been carrying since end of last week)

Intraday one sided stocks (RTM, breakouts, trends): +3500 (this includes F(-1100) and FFIV(-1400) results from beginning of month which I stopped trading)

News stocks (intraday and overnight): +600

Options: -2200

Futures: -1100

Investments: +350


Week ending 3/25/11
Daily Net P/L: -4400, +2500, -1300, +2000, -4700
Week Net P/L: -5900 on 113000 shares traded