How much are your trading mistakes costing you?

Discussion in 'Trading' started by Cariocas, Aug 24, 2006.

  1. One of the techniques I used & still use to improve my trading skills is to keep track of the losses due to not following rules/lack of discipline/lapses/senior moments, etc. After tracking that stat. I found out that by just minimizing (not eliminating), the losses came down to a trickle & the upside/profit was based on managing the trades that fit my set of rules.

    So the question to fellow ETers, in terms of % or $ amount, how much are trading mistakes costing you per month?

  2. You are asking a personal question. How much money somebody is losing in the stock market is nobody's business. You are asking these people how much money they have in their bank accounts.

    None of your business how much money people are losing.
  3. they are costin' me a lot, especially in a choppy mkt like often down 100s of bucks off my first trade at the open and sometimes i go in 'tilt' and keep makin' uttery stupid and dumb errors...often i have to keep fightin' all day to recover my losses only to end the day slightly was one of those days....qm and f saved me butzz in the end.
  4. I thought it was interesting that Mark Fischer on one of his recorded webinar/seminars asked one of his BSD's how much discipline had cost him over the years?.....................The guy said 10 mil! Ouch. Alll I know is I am getting better at it after a year, but I will either get disciplined or get lost.
  5. When I started out, I kept detailed records of all the errors made and what they cost me. I would review it everyday before the open in an effort to eliminate the "stupid" mistakes. A journal is a great tool for this, it is essential to take your game to the next level. I still do it today, though I make alot less mistakes.
  6. mschey,

    Well stated. That's the point of the thread, is to draw attention to some unconventional stats./techniques that can help improve one's trading skills. Thanks for your participation.



  7. always kept a journal. very motivatin' just this month that has been hard on me, many of my strategies rely heavely on high vola, this churn is a killer for my pnl, and am terrible at scalpin'..cant really make much on equities these days [today wasnt bad at all tho]...thankfully i just begun to trade qm again and it seems i found a decent egde there.
  8. vikana

    vikana Moderator

    I'm almost exclusively on auto, so I track actual fills vs simulation after the close. It's the only way to determine actual slip, fill rate etc.
  9. About 2-400.00 a month average.
  10. NO MISTAKES...


    Either profit or loss.

    You make a decision, you act upon that decision and your action produces a result that is either profit or loss.

    If you make the same decision and take the same action chances are you will produce similiar results.

    Trading is simple... keep it simple!
    #10     Aug 24, 2006