Successful traders, what did you do to increase your performance stats?
- Thread starter iamnewuser911
- Start date
check your trades and see what the average winning trade profit is. then trade multiple contracts and at the 75% of the average winning trade profit take off 25% of the contracts. then if you spike 125% of average profits take off another 25% of the contracts. now with the remaining contracts stay in the position as if the system was trading a single lot.
so you are following a rigid mechanical system as if trading a one lot, but outperforming ito using the method above. now this works with a model that the duration of trade for a few days in a market that is lack luster like us30 but occasionally spikes. i have not tried it on index futures.
ps some may say well 75% and the 125% of 50% of the contracts you wind up back where you started from, but not if the system in fact loses that trade or it underperforms the average trade profit.
so you are following a rigid mechanical system as if trading a one lot, but outperforming ito using the method above. now this works with a model that the duration of trade for a few days in a market that is lack luster like us30 but occasionally spikes. i have not tried it on index futures.
ps some may say well 75% and the 125% of 50% of the contracts you wind up back where you started from, but not if the system in fact loses that trade or it underperforms the average trade profit.
When I first saw the threads header... I thought "stop jerking around!"... So I guess we're in line... great minds think alike!
Monitor and review your trading regularly. TT added Trader Analytics several months ago due to strong customer demand from some leading prop shops. It's well worth your time to give it a look and learn how to track your trading effectively.
Can you share any more information about this trader? I assume he is a public figure, so... maybe his name? Just curious.
Thanks,
-Al
I've always been a trend follower and have had to accept that this reduces workload and lowers risk but also cuts opportunity and makes revenue flow lumpy. But I took two important steps forward when -
1. I got away from specific entry signals: now the market tells me to get in, not some intricate rule-based candlestick pattern: as long as its a good set-up, don't miss the opportunity only because your favourite entry signal doesn't print
2. when the trend goes in your favour, add a second with-trend trade and another and another and don't stop doing this until the trend is dead: don't try and second-guess the TA when the gains are telling you the trend's still running.
1. I got away from specific entry signals: now the market tells me to get in, not some intricate rule-based candlestick pattern: as long as its a good set-up, don't miss the opportunity only because your favourite entry signal doesn't print
2. when the trend goes in your favour, add a second with-trend trade and another and another and don't stop doing this until the trend is dead: don't try and second-guess the TA when the gains are telling you the trend's still running.