Oh No, NOT Another S&P EMini journal...

Quote from KRSNA:

Let me throw this at you Goodday. ...
If you spend time analyzing your results you will see that consistency in ticks per trade is perhaps a worthwhile goal to add.
More thinking for you...
More...

Indeed more thinking for me....
I had some expectations of what sort of benefits I would get from starting this journal. But I am getting some very unexpected benefits, in addition to the expected ones. I have become very wealthy indeed, from this journal. Thanks every one, for giving yourselves so generously.
 
Quote from KRSNA:

Let me throw this at you Goodday. I personally never set a goal as a percentage return. I am a trader not an investor. I work for tick profits. I look for ticks per day and average ticks per trade. A percentage goal could be reached due to some big fruit dropping into my lap. Windfall profits are just a bonus. Like I just got a big fast windfall being long the euro a few minutes ago. That's a bonus. My day to day trading is plain old consistency.

As a day trader a good goal to have might be maybe 5-10-20 ticks a day per lot.

I know every time I place a trade I will make '10.59' ticks per trade, win, lose or breakeven. Some of those are big bonus ones of 80+ ticks others are 3 ticks but the loss is never greater than 10 ticks.

In another 1000 trades I'll bet my average trade will be within 2 ticks of 10.59. It just never changes after a big enough sample is produced. Once consistency has arrived.

If you spend time analyzing your results you will see that consistency in ticks per trade is perhaps a worthwhile goal to add.

More thinking for you...
More...
goodday. nice thread u have going here. KRSNA..i really like what u have to say. It really makes alot of sense. I think anyone can learn to trade profitably its just a mater of how bad u want it. Please keep the posts coming as they are very valuable to me. good trading. Jim
 
...another reason to keep going Goodday is your PF is currently approx 2.64 ( based on figures for August only) and is based on at least 30 trades. Now if you also set a goal to get it to 3.0 by the end of the month and then hold it there for September...consistency is on it's way!

...yet more thinkin...
 
Quote from KRSNA:

...another reason to keep going Goodday is your PF is currently approx 2.64 ( based on figures for August only) and is based on at least 30 trades. Now if you also set a goal to get it to 3.0 by the end of the month and then hold it there for September...consistency is on it's way!

...yet more thinkin...
More...

:D KRSNA, Have you ever considered becoming a trader's coach? I feel really great with you standing on the sidelines and cheering me on, ....mildly scolding me when I make a bad move, and loudly cheering me when I make a good one....
I could not ask for anything more..... YOU ARE A GREAT COACH...
 
What is your daily average per contract over the long run? I did a quick stats and it looks like your average went up since you are trading the smaller, new account. Is that correct?
 
Quote from goodday:

:D KRSNA, Have you ever considered becoming a trader's coach? I feel really great with you standing on the sidelines and cheering me on, ....mildly scolding me when I make a bad move, and loudly cheering me when I make a good one....
I could not ask for anything more..... YOU ARE A GREAT COACH...
More...

Thank you Goodday for your kind words. Nice of you to say. These days I am happy just to help a sincere honest trader with the occasional snippet of wisdom learned over many years of digging for gold.

What is more important is you are becoming a GREAT PLAYER.
 
Quote from Pekelo:

What is your daily average per contract over the long run? I did a quick stats and it looks like your average went up since you are trading the smaller, new account. Is that correct?
More...

If you compare the stats for the 2 months posted here, that is correct.
However, over a five year period, my larger account is averaging about 2.3 PF.
I am noticing that I need to trade a bit differently in the smaller account than in the larger account... We shall see, as time goes on, how the PF will shape up for both accounts.

The stats for the small account are NOT as reliable, since the TF is small. I will monitor both, and let you know.
 
Quote from brightstone:

Could you explain what the pf and tf are and the calculations for them, I would like to use them to quantify my results.

Thanks,
J
More...

TF is time frame. I am sure no further explanation is necessary on this one.
PF refers to profit factor. You will find the formula for calculating it in one of the posts on this thread, thanks to KRSNA. Before his comments, I was simply looking at whether I made money or lost money in a given time frame. He turned me onto fine tuning my trading and aiming higher.
 
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