Grinding it out, day after day

Quote from bs2167:

Congrats on a solid year. Are you considering scaling back or shutting down OPG at this point?
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I'm only trading about half the size now that I was a few months ago. Just waiting it out, hoping things turn around.
 
Quote from joeyd72:

My question is how were able to start with 40k in capital when you first started trading?

My second question is How do you normally calculate your R:R ratios? Also, I know you use excel sheets but for your approximate entry and exit points but I never really understood how to come up with the numbers.

If you don't want to disclose this I understand.

My primary goal is to not lose money and take it day by day rather than having my mind set on becoming a millionaire, it's tempting though.
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Sorry Joey, I didn't see your post earlier.
I started with 40k through just saving money. I had a decent job and ran a business on the side. I also had cash when I sold my house and moved.

I don't calculate R:R ratios. If I wanted to go back through old trades I suppose I could figure it out, but it's not a stat I use at all. My entry and exit points vary a lot depending on the trade. Sometimes a chart level, or a spreadsheet calculation or just intuition.

Your primary goal should not be not to lose money. Losing is a major part of trading, and you can't trade scared. Your goal should be to clearly define a strategy and then execute it according to your rules. If your strategy has a positive expectancy and you manage things well, you will make money. Remember, profit is just a side effect of properly executing a good trading plan. Wealth comes from doing that AND not being dumb with the money you do make.
 
Thank you for an outstanding journal full of detailed posts, replies, charts and analysis. It's rare to see this anywhere, keep it up!
 
The first thing I noticed is the 3 cents average net per share traded. This is equivalent roughly to a 1 tic net profit per trade in ES futures.

Yet the volume moved seems to make for a very good year end result, including execution errors.

This is in stark contrast to the dozens of points per day, and no losses, claimed in many other threads and forums all over the web.

Wondering if all this grinding can be fully automated.

I guess I will have to read this journal from beginning to end.:(
 

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Quote from lescor:

Your primary goal should not be not to lose money. Losing is a major part of trading, and you can't trade scared. Your goal should be to clearly define a strategy and then execute it according to your rules. If your strategy has a positive expectancy and you manage things well, you will make money. Remember, profit is just a side effect of properly executing a good trading plan. Wealth comes from doing that AND not being dumb with the money you do make.
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truer words never spoken
 
Quote from lescor:

No, they don't. But that doesn't mean I can't run my trading operation through a corporation. A good accountant is worth every penny.
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I am in the same boat as you are. Do you mind sharing how , in a brief outline, how one has an individual account yet is able to run his trading operation as a corporation?

Do you run it through a trust fund?

I will be talking to my accountant but i just want to run some ideas by him and see it if works in my country( My residence is in the UK, not canada).
 
Quote from alientrader:

I am in the same boat as you are. Do you mind sharing how , in a brief outline, how one has an individual account yet is able to run his trading operation as a corporation?

Do you run it through a trust fund?

I will be talking to my accountant but i just want to run some ideas by him and see it if works in my country( My residence is in the UK, not canada).
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You may be able to have an account in your personal name, but assign beneficial ownership to your corporation.
 
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