Scalpers Progress
- Thread starter DblArrow
- Start date
easyrider,
I could not agree more! But for the record this is week four. Only week 1 of posting trades. It has proven workable in the last 4 weeks. I just wanted to see if posting what I did would actually help my discipline.
To an extent I believe it has. I only had 1 trade that lost more than 2 points, and that has been my biggest problem, letting losses run.
Make 'em pretty, Chris
Traded a little longer this morning as IB had problem for a little while.
7 Trades 6 winners (86%) for a total of 3.75 points = $153.90
Looking into trying something a lttle different for my exits - stops are still hard at 1 point, but I did not set a target on a few of the trades. Kept the mouse over the close trade button and watched the price, saved me a couple times; but I really like the idea of a hard target so I am fighting with that.
S1 +.75 - no target set, but tried to get one and to slow on the mouse and price changed before I clicked and got out. This was a saving trade as I probably would have lost on this.
S2 +1 - because of the previous trade I set a hard target, and this is why I am looking at no initial target.
L3 +.5 - again no target
S4 -.75 - no target but decided to punch the close trade early, was looking for continuation but moving to slow.
Didn't get a fill on this one.
L5 +.5 - no target, didn't get filled on the stop, so got out happily with a little profit.
S6 +1.25 - big winner on the day! No target but as soon as I saw I had a little better than 1 point I took it and ran.
L7 +.5 - Did put a target here as I thought the trend was down so I wanted a quick out - but it didn't make the target so I bailed.
Overall I am again satisfied with what it is that I am trying to do.
Make 'em pretty, Chris
7 Trades 6 winners (86%) for a total of 3.75 points = $153.90
Looking into trying something a lttle different for my exits - stops are still hard at 1 point, but I did not set a target on a few of the trades. Kept the mouse over the close trade button and watched the price, saved me a couple times; but I really like the idea of a hard target so I am fighting with that.
S1 +.75 - no target set, but tried to get one and to slow on the mouse and price changed before I clicked and got out. This was a saving trade as I probably would have lost on this.
S2 +1 - because of the previous trade I set a hard target, and this is why I am looking at no initial target.
L3 +.5 - again no target
S4 -.75 - no target but decided to punch the close trade early, was looking for continuation but moving to slow.
Didn't get a fill on this one.
L5 +.5 - no target, didn't get filled on the stop, so got out happily with a little profit.
S6 +1.25 - big winner on the day! No target but as soon as I saw I had a little better than 1 point I took it and ran.
L7 +.5 - Did put a target here as I thought the trend was down so I wanted a quick out - but it didn't make the target so I bailed.
Overall I am again satisfied with what it is that I am trying to do.
Make 'em pretty, Chris
Today seemed to be a tough day for me. Took a few anticipation trades and most of them turned out ok. Had a few trades that made it to +.5 and turned and stoped out. Don't like it when that happens.
14 trades 7 winners (50%) for a total of +.5 points = ($42.20)
I installed the new Qchart and dumped some of the others, and I cleaned out some workspaces I had around for a long time and some how or other I dumped my marked journal chart so for today, no chart.
In keeping with the new idea of not setting a hard target I managed to let 2 trades get past the 1 point area (1.25 and 1.75) and the 1.75 was the last that brought me out of the hole.
This is what I am really striving for - that most of the loser days are commission losses. If I have to have a loser, it might as well just be commissions.
Make 'em pretty, Chris
14 trades 7 winners (50%) for a total of +.5 points = ($42.20)
I installed the new Qchart and dumped some of the others, and I cleaned out some workspaces I had around for a long time and some how or other I dumped my marked journal chart so for today, no chart.
In keeping with the new idea of not setting a hard target I managed to let 2 trades get past the 1 point area (1.25 and 1.75) and the 1.75 was the last that brought me out of the hole.
This is what I am really striving for - that most of the loser days are commission losses. If I have to have a loser, it might as well just be commissions.
Make 'em pretty, Chris
Great thread DblArrow
I was wondering how the discretionary element affects your bottom line.. Do you keep track of how the "strictly mechanical" version of your system does relative to discretion?
I understand the psychological reasons, just wondered if there is any real performance difference.
I was wondering how the discretionary element affects your bottom line.. Do you keep track of how the "strictly mechanical" version of your system does relative to discretion?
I understand the psychological reasons, just wondered if there is any real performance difference.
Quote from Platypus:
Great thread DblArrow
I was wondering how the discretionary element affects your bottom line.. Do you keep track of how the "strictly mechanical" version of your system does relative to discretion?
I understand the psychological reasons, just wondered if there is any real performance difference.
Thanks
No, I don't have a difference. I don't know if there would be any preformance difference.
But I suppose if I was to take the original "strict rules" and trade only that as compared to 5,2,1 div and continuation trades, there may be a difference; but back testing is not 100% so I really could not say.
Make 'em pretty, Chris
Today was in fact better than yesterday - but it sure didn't feel like it.
Days like yesterday and today make me wonder about going back to the beggining. This started out as 1 point stop and .5 profit. Win rate was consistently at 80%. But as Larrybf pointed out, it looked like there was alot left on the table so I moved it to 1 point and for two days (I know not enough to base any decisions on) I have mostly gone without a target. Had I stuck true to the .5 I might have been better off yesterday and today; but who really knows.
Just wondering!!
8 Trades 5 winners (62.5%) for 1.25 points = $21.40.
Did a little more anticipation of trades and didn't set hard targets on most of the trades.
L1 -1, Almost didn't take this trade as I was thinking there might be some more follow through down after open - but the system said trade, so I did.
L2 +.25, This was what I would expect after the first failure. Had no target set, just the finger on the mouse button and OOOOPS!
S3 +1, Only managed to hold out for 1.
L4 +1.5, Managed to hold out a little longer on this trade.
S5 -1, I thought for sure after missing the fill on the last try this was going my way, not to be.
At this point I almost quit because I started to notice a bit of time lag between chart and IB but watched for awhile and seemed to come and go.
S6 -1, Had good 5,2,1 divergence but....
S7 +.5, Thought if this is going to be an up trend I am going to get a little out of it!
S8 +1, Due to the fact that I was thinking uptrend - I set a target and took it and my money and went home for the day!
All in all it was OK. Not quite what I am expecting but we shall see.
Make 'em pretty, Chris
Days like yesterday and today make me wonder about going back to the beggining. This started out as 1 point stop and .5 profit. Win rate was consistently at 80%. But as Larrybf pointed out, it looked like there was alot left on the table so I moved it to 1 point and for two days (I know not enough to base any decisions on) I have mostly gone without a target. Had I stuck true to the .5 I might have been better off yesterday and today; but who really knows.
Just wondering!!
8 Trades 5 winners (62.5%) for 1.25 points = $21.40.
Did a little more anticipation of trades and didn't set hard targets on most of the trades.
L1 -1, Almost didn't take this trade as I was thinking there might be some more follow through down after open - but the system said trade, so I did.
L2 +.25, This was what I would expect after the first failure. Had no target set, just the finger on the mouse button and OOOOPS!
S3 +1, Only managed to hold out for 1.
L4 +1.5, Managed to hold out a little longer on this trade.
S5 -1, I thought for sure after missing the fill on the last try this was going my way, not to be.
At this point I almost quit because I started to notice a bit of time lag between chart and IB but watched for awhile and seemed to come and go.
S6 -1, Had good 5,2,1 divergence but....
S7 +.5, Thought if this is going to be an up trend I am going to get a little out of it!
S8 +1, Due to the fact that I was thinking uptrend - I set a target and took it and my money and went home for the day!
All in all it was OK. Not quite what I am expecting but we shall see.
Make 'em pretty, Chris
