Just breaking even would have been extremely impressive to me. Can't imagine the kind of skill required to overcome the spread and commissions on such shorterm trading, let alone doing it 100 times a day.
Trading review processes
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Just breaking even would have been extremely impressive to me. Can't imagine the kind of skill required to overcome the spread and commissions on such shorterm trading, let alone doing it 100 times a day.
skc
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Best looking equity chart of them all! I am doing mine in 3D from now on!
There should probably be a thread called "I will show you mine if you show me yours (equity curve)".
But let's talk trade review more because I am very interested in that.
Trembling Hand
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Yes good thread. Back to the review, at the heart of success
And sadly the same ol, same ol victims,
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Think thats a tongue in cheek comment.
Otherwise might as well buy a scratchie - more thrills, less damaging.
Trembling Hand
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But looking at the equity curve its clear that some never learn. Although there is enough info on these pages to make you a gun 10x over intentionally or not too many still approach it like quick money not a business.
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give them time.... and let them lose about $20k-$50k and they'll realise that its not all fun and games and a quick buck... that its actually a war.
but some will get lucky and never learn.
others.... me included... learn the hard way.
Most aren't interested in doing the work imo. Read a few books and think it is easy without ever getting a true understanding of what really makes a trader successful.
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So the reason is the company is only 3 people and they haven't got around to making the system fully automated yet.
And yeah, it was originally intended for RCG customers.
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And what do you think makes a successful trader? How many people have to get bitten before people learn there is no get rich quick? I think laziness rules. I would be interested to know how much people study etc
It's not just how much practice/study, it's how you practice/study imo
Trembling Hand
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10,000 hours of deliberative practise isn't hard??
That would be subjective, TH. Two different people could view the same work in two different ways. Also, perhaps those 10,000 hours was hard, but now it has become easy? I got into trouble for saying I thought trading trading was easy, but I never suggested it was an easy journey.
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Exactly. I mean studying as in screen time, experience, learning your market etc. Not just reading books and expecting to be pro. Also back to reviewing, have you guys ever noticed any patterns throughout the day? For example, spotting patterns that show you perform better in the morning than the afternoon.
Deliberative practice by its very nature is designed to be hard and test your skills. The point is it shouldn't be easy.
This is why so few people make it to the elite level in any field.
Wysiwyg
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No but if it humours anyone I will be happy.
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I guess there are really 2 separate reviews for each trade.
1 - Did you follow the trade as planned (yes/no)
2 - Was the plan valid, or right for this trade (complicated)
The first is a simple yes/no, but just saying 'yes' or 'no' after a trade doesn't really cut it.
After an initial fairly unsuccessful period with trading, I put some thought into how to make myself better follow the plan, as that was where the problem was. It's difficult to punish yourself for doing things against your plan.
For me, the best way to cure my problem was to plot a 'theoretical equity' against my actual equity. The aim for my trading was and still is to track the theoretical line. Deviations to the plan usually result in a loss compared to the theoretical curve. If i deviate, i'll likely see the theoretical line, what should have been, move up above the actual equity. Even months down the track the mistake is still there to see.
If the two lines move too far appart, I'll probably add a third line, restarting the theoretical curve from that point, so I can review my trades properly. I'll leave the original theoretical line in place to remind me of what should have been.
1 - Did you follow the trade as planned (yes/no)
2 - Was the plan valid, or right for this trade (complicated)
The first is a simple yes/no, but just saying 'yes' or 'no' after a trade doesn't really cut it.
After an initial fairly unsuccessful period with trading, I put some thought into how to make myself better follow the plan, as that was where the problem was. It's difficult to punish yourself for doing things against your plan.
For me, the best way to cure my problem was to plot a 'theoretical equity' against my actual equity. The aim for my trading was and still is to track the theoretical line. Deviations to the plan usually result in a loss compared to the theoretical curve. If i deviate, i'll likely see the theoretical line, what should have been, move up above the actual equity. Even months down the track the mistake is still there to see.
If the two lines move too far appart, I'll probably add a third line, restarting the theoretical curve from that point, so I can review my trades properly. I'll leave the original theoretical line in place to remind me of what should have been.
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Anyone else got an equity curve that looks like this?
I do actually..
m i good?
(real money, numbers have been skewed)
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Interesting part of THs post in the Phoenix thread.
When should one stop simming and start on live in your opinion? (not directed only at TH btw)
If you have been simming, with good results, when does that point come you should choose to go live? 100 trades? 1000? 10000?
Interested to hear thoughts, as I pretty much have no idea tbh, I feel I should just keep simming until I feel absolutely certain and 100% confident I can be profitable? Even though my stats aren't that bad and I have done well on well over 100+ trades
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