ES Journal - 2019/2020

Status
Not open for further replies.
It's the summation of the percentages of the winning trades (last 2 categories) minus the percentages of the negative conditions (the first categories). So if all trades fall into "Perfect Trade" or "Exit Winner Too Early" without any negative conditons, your trading score is 100. If you have all losing trades with all negative conditions, then the trading score is -100. Keep in mind, these are my conditions...they are easily substituted with your own. Every trade is "scored" based on what happened in the trade....and each trade can have multiple conditions....i.e. "Entered Against the Trend" and "Stop Loss Too Tight".
This is a take-off from the Net Promoter Score (NPS) technique and methodology which is followed by many corporations (especially Comcast). I was a contractor for Comcast for a while and every day the NPS score would be displayed on a large screen when I walked into the office. It was in real time. The executives were riveted by this number....they wanted to know how customers felt about their service.
https://www.netpromoter.com/know/
In this case as related to trading, the "promoters" are the winning trades. The detractors are the conditions that caused a bad trade or less than favorable outcome. There are no "passives" in my calculations. ...which makes the scoring somewhat "harsh"....so a score of zero can be pretty good. Negative scores mean you've screwed up a lot....and made a lot of trading mistakes.
Still, it works perfectly....all calcs are done in Excel. Takes me about 30-40 minutes to assemble based on the number of trades completed for the day.
 
syswizard said:
It's the summation of the percentages of the winning trades (last 2 categories) minus the percentages of the negative conditions (the first categories). So if all trades fall into "Perfect Trade" or "Exit Winner Too Early" without any negative conditons, your trading score is 100. If you have all losing trades with all negative conditions, then the trading score is -100. Keep in mind, these are my conditions...they are easily substituted with your own. Every trade is "scored" based on what happened in the trade....and each trade can have multiple conditions....i.e. "Entered Against the Trend" and "Stop Loss Too Tight".
This is a take-off from the Net Promoter Score (NPS) technique and methodology which is followed by many corporations (especially Comcast). I was a contractor for Comcast for a while and every day the NPS score would be displayed on a large screen when I walked into the office. It was in real time. The executives were riveted by this number....they wanted to know how customers felt about their service.
https://www.netpromoter.com/know/
In this case as related to trading, the "promoters" are the winning trades. The detractors are the conditions that caused a bad trade or less than favorable outcome. There are no "passives" in my calculations. ...which makes the scoring somewhat "harsh"....so a score of zero can be pretty good. Negative scores mean you've screwed up a lot....and made a lot of trading mistakes.
Still, it works perfectly....all calcs are done in Excel. Takes me about 30-40 minutes to assemble based on the number of trades completed for the day.
More...
A little anal for me but I can respect the exercise and the analysis....good work.
 
speedo said:
A little anal for me but I can respect the exercise and the analysis....good work.
More...
Thanks. It's both sophisticated and elegant. Bottomline: It helps to improve your game.
It goes way beyond the neanderthal method and measure used by Prop firms which is basically net profit....which provides no help, no assistance to traders. There is no detailed analysis as to why a trader was negative for the day.
Oh, how I wish I could automate this !!!
 
syswizard said:
Those are known as "doji days".....and they suck big time.
More...
As a fairly new Intraday trader, slowly beginning to understand how market works, hopefully this will stay in the back of my mind how not to trade on some days or even week. We humans have short memory and get ourselves in precarious situation needlessly.
 
tenny1886 said:
As a fairly new Intraday trader, slowly beginning to understand how market works, hopefully this will stay in the back of my mind how not to trade on some days or even week. We humans have short memory and get ourselves in precarious situation needlessly.
More...

Well, I think 'narrow range day' is a more accurate description as a 'doji' day can have substantial price movement.

October/November 2017 had a 20-day average range < 10,0 points. Good luck trying to trade that.

upload_2019-6-15_13-11-53-png.204259



Anyway, one of the biggest lessons I've learned from another successful trader is the ability to stay out of the market (something he often does) and wait for clarity. Being selective is very important.
 
Trump says he doesn't want to do business with Huawei due to national security concerns
Published 31 min agoUpdated Moments Ago



President Donald Trump said Sunday he doesn't want to do business with Chinese tech giant Huawei, after weekend reports that the administration was planning to extend a reprieve that allows it to buy parts from U.S. companies.

"I don't want to do business at all because it is a national security threat," Trump told reporters. "We'll see what happens. I'm making a decision tomorrow," he added.

The Wall Street Journal and Reuters reported that the Commerce Department was preparing to extend a license for 90-days which would allow Huawei to continue business with U.S. companies to service existing customers. The current agreement is set to end on Monday.

BTFD tonight
 
tenny1886 said:
As a fairly new Intraday trader, slowly beginning to understand how market works, hopefully this will stay in the back of my mind how not to trade on some days or even week. We humans have short memory and get ourselves in precarious situation needlessly.
More...
There are good days.. ..and bad days. Knowing the difference is crucial. Your trading plan will be affected greatly.
 
tenny1886 said:
As i said on last trading day, there is something holding the price up, either it will range or go higher slowly or we see a massive sudden drop. not sure which way it will be.
More...

It is not worth it to try to be in the trade, in either direction. today. The markets on a tightly-coiled spring, and Trump is a bloody maroon.
 
in 2-3 days we find out if we heading higher back to the highs. If the down move is sustained, then i could see new ATH happening. hopefully in 2-3 days we find out.
 
Status
Not open for further replies.
Back
Top