daily expectations

[OddTrader]

Quote from ElectricSavant:

To simply draw lines in the sand to base ones performance on is not enough.

For me it must be related to the market.....or self destruction takes place.

I can feel well about my days work by just following my plan.

My wife feels good about the profit I make....LOL


Michael B.

That's why I have been for sometime thinking to use "a % of daily range" as measurement. Not sure yet!

 

[ElectricSavant]

Great Idea......I must contemplate this too.


Michael B.

 

[ElectricSavant]

The more I think about this the more sense it makes.

The MAE/MFE/Velocity micro manages the trade set-up....The Days Range cold be used to guage whether one is taking what the market gives....


Good Idea.....


Michael B.

 

[OddTrader]

Quote from ElectricSavant:

Ok....well-being could be modified to slant reality.


But seriosly, I have been intrigued with the recent threads on so-called random entry......

Discussion has lead from framing in ticks to reversing when wrong...this sort of trading just tries to catch the correct side. There is no ......expectation at all....


Michael B.

Half-full would be one of the most important psychological set-ups, besides technical.

So-called Random may not be truly random.

And, so-called Real-time on ET may not be really real-time.

 

[OddTrader]

Quote from ElectricSavant:

Some consider MAE and MFE "curve fitting. But combined with velocity measurements it is rather powerfull.

Simply add a spreadsheet to your trade log, which every serious trader should keep......you will have the numbers for each set up readily available.

Michael B.

As long as profitable (and following the game plan), I'm happy (not keen).

 

[ElectricSavant]

As long as you follow your game plan and listen to the market, you will be profitable

Michael B.

 

[ElectricSavant]

Boomer (the author to this thread) has other concerns that he needs to address. The ramblings of 2 traders are a bit more specific than this undergrad is looking for.

Boomer?


Michael B.

 

[OddTrader]

Quote from ElectricSavant:



The Days Range cold be used to guage whether one is taking what the market gives....

Exactly!

 

[OddTrader]

Quote from ElectricSavant:

As long as you follow your game plan and listen to the market, you will be profitable

Michael B.

Isn't that listening to the market is part of the game plan?

 

[ElectricSavant]

Profitability is static and arbitrary based on ones expectations, but expectations are not valid as the market will not listen.

Following a plan is discretionary and requires a trader to listen to the market and adjust after the fact, to get what it MIGHT give.

Drawing lines in the Sand......well I prefer to work with the discretionary side

Michael B.