"I would personally shoot for 3% a week. Why not make more???" It's a risk management thing. You take on more risk to go from 1% to 3%. The thread starter stated that it would be a mechinical approach. That implies discipline or a fully automated system. If discipline is used - I'm hoping for a commentary on how that aspect goes. Discipline is what I work on and I'm getting good at it - except when I lose my mind.:eek:
"I can make 60% with ONE TRADE and still have a 40 hour week REAL JOB." what instruments do you trade?
I think 1% a week is very possible, given the management and concerns listed previously. I personally shoot for 3-7% a month, trading options and the underlying. With enough BP and low enough fees, it can be done. NYCDT
60% total return - wow - not bad. I sometimes make large percentage gains say 100% or greater on investment - but then I'm risking only a small portion of my account. To make 1% a week average total return on your account is a lofty goal IMHO. BTW, I also trade YM and ES. I wouldn't hazard a percentage return on those kinds of trades since the leverage is so great Total return - how much did my account go up this week?
Thanks persistentTradr and thanks for your spreadsheet! Each trade actually has two different risk/reward ratios. One has a higher winning percentage with smaller gains and larger losses, while the other has a lower winning percentage with at least a 2-1 reward to risk ratio. So the 3% stop you see is on my lower percentage winner where is the smaller gain is on my higher percentage winner. So my trades will be scaled for each position. I actually plan on statistically defining my trades much better too, so right now, I have a very simple mechanical approach which I will fine-tune as I collect more data. So initially, my goal even will probably not be met, but hopefully in time, I will approach it. Thanks for your support!
My Trades for the week: 9/4 Shorted BBY at 44.25 Sold rest of Matk at 27.49 for 2.6% gain 9/5 Covered half of BSC at 112.50 for 3% loss Covered half of BBY at 43.14 for 2.57% gain 9/6 Covered rest of BSC at 106.55 for 2.49% gain 9/7 Long IHS at 50.99 Percent gain on the week for positions held is 4.66% I've almost finished automating my system, so hopefully I will have that up and running next week. Goals for next week: Optimize statistical analysis of trades for better risk/reward ratios.
hi tradestrong, Just wondering what brokerage your going to go with and what platform you're using. I was going to develop an ATS using JSystemTrader though now I am looking at OpenQuant. P.