Profit factor for descretionary traders

[tenthousandmen]

For discretionary traders only - what is your profit factor?

I've been wondering how my numbers compare to others. I understand there are other important stats, and MAYBE I'll bore you with another poll in the future if others want it (or you can create one).

Assuming fair consistency, would 2-3+ be considered a typical profit factor for a well experienced (and good) discretionary day trader (not swing)?

 

[ocean5]

My PF is when im going to the bank for some cash,even though its only $2-3 K,feels good!

 

[tenthousandmen]

Edit --- profit factor=net profit/net loss

 

[cornix]

1.8.

 

[RebateMonkey]

Quote from cornixforex:

1.8.

Hi cf,

What do you use to track profit factor?

 

[Handle123]

This is one stat I don't keep, I can't see how this would help me in anyway. The one I concentrate on is Average per trade based on weekly and monthly data.

 

[Dustin]

All that really matters imo is cps (cents per share).

profit/volume

eg. $1000/100000=.01

Anything over .02 for sustained time is really good.

 

[intradaybill]

Profit factor > 1 means net profit but nothing specific. Some kid with a $50 micro forex account can have a PF = 50 but net only $10 at the end of the year, so what? At the same time a hedge fund with a PF =1.1 can net $1 billion.

 

[cornix]

Quote from RebateMonkey:

Hi cf,

What do you use to track profit factor?

Hey RM,

Myfxbook attached to Oanda MT4 account.

 

[cornix]

Quote from intradaybill:

Profit factor > 1 means net profit but nothing specific. Some kid with a $50 micro forex account can have a PF = 50 but net only $10 at the end of the year, so what? At the same time a hedge fund with a PF =1.1 can net $1 billion.

If someone even using $10 forex account can do PF of 50 for the year as a result of significant amount of trades (to exclude luck possibility), it still means that person trades very well.