Still Having Trouble Letting Winners RUn

[NoDoji]

Quote from HedgefundJim:

Hey those are great results!

But the real measure of success is not in 9 out of 10 successful days (what if you blow 95% of your principle in that 1 unsucessful day?) but rather what your gains are as compared to your losses,

That is somewhat akin to your cumulative percentage gained.

For example, if you take a month on the whole as being net positive, and can replicate this month over month over month, and in up markets, bear markets, sideways markets, then, my friend, you've got yourself a winner.

Keep your dayjob until you can backtest the living hell out of a system, do so until you have seen that system succeed in a variety of markets over time, then hit that system hard with every spare penny you've got

Best of luck,

-Hedgefund Jim

Jim, I'm not yet at risk to blow 95% of my principal because I haven't used more than 15% of my DT margin yet

 

[bwolinsky]

Quote from HedgefundJim:

Hey those are great results!

But the real measure of success is not in 9 out of 10 successful days (what if you blow 95% of your principle in that 1 unsucessful day?) but rather what your gains are as compared to your losses,

That is somewhat akin to your cumulative percentage gained.

For example, if you take a month on the whole as being net positive, and can replicate this month over month over month, and in up markets, bear markets, sideways markets, then, my friend, you've got yourself a winner.

Keep your dayjob until you can backtest the living hell out of a system, do so until you have seen that system succeed in a variety of markets over time, then hit that system hard with every spare penny you've got

Best of luck,

-Hedgefund Jim

Probably good advice to wait for enough data to backtest.

 

[ProfitTakgFool]

I got the same problem. That damn P/L! I just accepted it and trade with that handicap, if you want to call it that. There are times when I take them and regret it and times when I don't regret it. It all comes out in the wash. If you can't let profits run then take them relentlessly and accept that as your style of trading. If you do the same thing over and over again you can never be wrong. Just take profits like a fool and move onto the next trade.

Congrats on getting the rest of your game in order!!

Quote from Flashboy:

For those of you who remember me I'm finally turning my trading around to profitability.

I've learned to maintain discipline, wait for good entries, learned to bail when a trade doesn't go my way but I'm still having trouble letting my winners run.

As soon as I see enough profitability on the screen I'm ready to "Cash In". I can't remove my P&L from my screen either, my platform doesn't allow it for some reason.

Oh well, guess I just have to train myself if I want to be successful at this.

Good trading to everyone.

Flash

 

[4DTrader]

Quote from bwolinsky:

I took two years. Both years to create a strategy. I've been trading it for about 1.5 years. Now that I have it, I'm not planning on anything else. If you don't believe me, please see my profile.

I believe you.
It took me 15 months to reach a satisfactory strategy. And the last day of the 15 months is in this week. For so many times during the past 15 months, I thought I got it, only to find out later I needed to change it. Used a lot of ink and paper.

 

[central park]

It's called "wealth wounds". Its the same reason most can makes millions in demo accounts, and blow up with real money.

most traders have a serious conflict with money, they are wounded therefore self destruct.

the worst part is, none of you will admit it. trading atracts the very people who are the worst suited for it. its the nature of the market.

tally ho,

CP

http://www.pradeepaggarwal.com/part4_c.html