on average, how many trades do you per day, week, or month for this year?
How do you lose trades?
- Thread starter farmerjohn1324
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on average, how many trades do you per day, week, or month for this year?
Here is the rub, per that post by Volperi:
1) Every instrument has its own behavior. ES for instance backtracks a lot. If you have methods that cannot tolerate that, it does not work out well. Likewise, you can go with the flow and use it to your advantage as he does.
2) If your mental model, or expectation of the instrument is "smooth trend" with minimal backfills, and the actual instrument does not match that, again it will not work out well. You are doing the square peg round hole thing.
3) The problem with a lot of folks is they want broad stroke methods. Some tool-setup-method, that applies in all or most cases. They think "keep it simple is best". Which ironically, is another broad stroke type thinking. The devil and the profits are in the details. That is why experience, deep long seated, around the block 1000 times, seen all the exception dozens of times experience matters and has no substitute.
4) Specifically, on buying down, aka, martingale, it is just a tool. If your discipline is emotionally compromised, you are not ready for that tool. ..... If you don't know your instrument behavior, you are not ready for that tool. If you don't know how to reverse, again, not ready. If you don't have the #5 below well understood and implemented down to tactics, you are not ready.
5) There are limited reasons for stops to be triggered-executed:
1) Every instrument has its own behavior. ES for instance backtracks a lot. If you have methods that cannot tolerate that, it does not work out well. Likewise, you can go with the flow and use it to your advantage as he does.
2) If your mental model, or expectation of the instrument is "smooth trend" with minimal backfills, and the actual instrument does not match that, again it will not work out well. You are doing the square peg round hole thing.
3) The problem with a lot of folks is they want broad stroke methods. Some tool-setup-method, that applies in all or most cases. They think "keep it simple is best". Which ironically, is another broad stroke type thinking. The devil and the profits are in the details. That is why experience, deep long seated, around the block 1000 times, seen all the exception dozens of times experience matters and has no substitute.
4) Specifically, on buying down, aka, martingale, it is just a tool. If your discipline is emotionally compromised, you are not ready for that tool. ..... If you don't know your instrument behavior, you are not ready for that tool. If you don't know how to reverse, again, not ready. If you don't have the #5 below well understood and implemented down to tactics, you are not ready.
5) There are limited reasons for stops to be triggered-executed:
- Actual loss is too large by $, % or ticks.
- A signal generated to take a loss-exit.
- Need to go Flat, so that you can open a new position
- Extreme volatility or extreme non volatility. Examples of #2 above
- Loss of volume, i.e. RTH ending, market closing
- An event pending and you prefer to be Flat.
I don't have that problem any more. I am taking profits along the way & my runner position has a stop at break-even or better. I may add on more size to winners, this way the profit can more than double without risking losing on the trade.
Are you able to give an example of this?
Or link a web page or video that explains it?
#1 Add onto a winner on the way up when the trend is strong. Avg into a loser on a trend day & get pulverized, this is doing that in reverse.
#2 Trade around a core winning position: You take profits along the way & add back on at key levels where the trend is more likely to resume. Again you take profits along the way.
Here is one example - there are many variations of this that will work. You need a trending move & not to trade your PnL- focus is on price action & trade mgmt.
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Although this graph is great in concept, it rarely ever translates well into real trading. First and foremost, smart money knows that all the dumb money follow this principle and they lay TRAPS all along the way to throw you off course. Sooner or later, you become demoralized and cannot stop asking what went wrong. It's not what YOU know that matters. It's what the SMART MONEY knows that will decide your fate as a trader in the end.
i use martingale strategy similar to what volperi posted. based on my stats for this year...i have 99 green days and 34 red days. and i'm green overall for the year.
That's because amateur traders get married to their stock, their bias, and ultimately their position. Etch this into your brain, folks: Be persistent (pro) without being stubborn (amateur)!