I don't know how to calculate profit factor, but all I know is that I'm averaging about $1k every trading day and have been doing that over 95% of the days this year. I traded with 25k account (withdrawing profit every week), averaging about $750 per day and now I'm doing about $1300-1400 per day with my $60k account. I don't really care for all these crazy analytical tools. All I know is that my system works and I make money over 95% of the days I trade. Until today, my average loss has been $570.
what the hell is TS?? please use terminology that newbie traders can understand since most us here are new.
Yes, it is A LOT!!! That's why it's a blowup in my book. Luckily though, my longest losing streak has been ONE day this year, so I don't know about five day losing streak. I suppose I can lose five consecutive days, but the chance of me losing 10% of my account for five consecutive days is NONE.
how can anyone lose 10% in a day? What kind of risk control is there in existence?? and what is to say that it won't happen again.
I've been on a hot streak and my earnings have been well above my expectations. So took a gamble and went for a big one, which I don't normally do. I failed. So now I go back to my normal trading system.