Mr Subliminal's Remote Trading Journal
- Thread starter Mr Subliminal
- Start date
And jolly good luck to him. With my new 30 round turn daily limit, we'll soon be neighbors
My new 30 round turn rule may have saved me from myself. Thank Magna for the timeliness of this post.
+6.875 pts / 30 RT / 2 ct lots
+6.875 pts / 30 RT / 2 ct lots
The good thing with a max number of RT is that it stops the bleeding when needed.
But there is a trap in wich I fell before :
On good days you can do a minimum of RT (5, 6 or 10) and quit because you reach a daily goal. But on bad days, you are going to use your full playing power (30 RT) to recover some early losses.
It can be dangerous because this way you are giving more "chance" to the losing days than to the winning one.
Considering that we are more emotive on losing days, chances are that we end worst.
My thinking about this is :
- play about the same number of trades every day
or even better (but require some experience & discipline) :
- quit sooner if you feel that nothing good is coming and keep on trading if you are in the zone.
May be some more experienced traders have an idea about this ?
But there is a trap in wich I fell before :
On good days you can do a minimum of RT (5, 6 or 10) and quit because you reach a daily goal. But on bad days, you are going to use your full playing power (30 RT) to recover some early losses.
It can be dangerous because this way you are giving more "chance" to the losing days than to the winning one.
Considering that we are more emotive on losing days, chances are that we end worst.
My thinking about this is :
- play about the same number of trades every day
or even better (but require some experience & discipline) :
- quit sooner if you feel that nothing good is coming and keep on trading if you are in the zone.
May be some more experienced traders have an idea about this ?
Good points, x-or. I will keep an eye on the 30 RT figure with a view to lowering it if necessary, and I agree with you that it is only an upper bound which I may elect not to take advantage of, if I'm having an off day. I wish I could run a simulation to find optimal values for these parameters, but alas SOMP trading is not backtestable and the 38 days I've got under my belt hardly qualify for any meaningful statistical inference.
While I don't have a numerical limit to the # of RTs in a day....my bias is, that trading gets exceedingly choppy after 11 AM and before 2 PM. The travel range of each move tends to be greater, on either side of that interlude.
As much as possible, I get out of the trading room during that increment of time...proportionately reducing the number of RTs, cuss words and antacids.
As much as possible, I get out of the trading room during that increment of time...proportionately reducing the number of RTs, cuss words and antacids.
Things were going well till I stubbornly refused to close a losing short position before the 10:00am new home sales number. This lapse wiped out my earlier gains so I was glad to stop shortly thereafter with a profit for the day.
+2.75 pts / 9 RT / 2 ct lots
+2.75 pts / 9 RT / 2 ct lots