Indeed more thinking for me.... I had some expectations of what sort of benefits I would get from starting this journal. But I am getting some very unexpected benefits, in addition to the expected ones. I have become very wealthy indeed, from this journal. Thanks every one, for giving yourselves so generously.
goodday. nice thread u have going here. KRSNA..i really like what u have to say. It really makes alot of sense. I think anyone can learn to trade profitably its just a mater of how bad u want it. Please keep the posts coming as they are very valuable to me. good trading. Jim
...another reason to keep going Goodday is your PF is currently approx 2.64 ( based on figures for August only) and is based on at least 30 trades. Now if you also set a goal to get it to 3.0 by the end of the month and then hold it there for September...consistency is on it's way! ...yet more thinkin...
KRSNA, Have you ever considered becoming a trader's coach? I feel really great with you standing on the sidelines and cheering me on, ....mildly scolding me when I make a bad move, and loudly cheering me when I make a good one.... I could not ask for anything more..... YOU ARE A GREAT COACH...
What is your daily average per contract over the long run? I did a quick stats and it looks like your average went up since you are trading the smaller, new account. Is that correct?
Thank you Goodday for your kind words. Nice of you to say. These days I am happy just to help a sincere honest trader with the occasional snippet of wisdom learned over many years of digging for gold. What is more important is you are becoming a GREAT PLAYER.
If you compare the stats for the 2 months posted here, that is correct. However, over a five year period, my larger account is averaging about 2.3 PF. I am noticing that I need to trade a bit differently in the smaller account than in the larger account... We shall see, as time goes on, how the PF will shape up for both accounts. The stats for the small account are NOT as reliable, since the TF is small. I will monitor both, and let you know.
Could you explain what the pf and tf are and the calculations for them, I would like to use them to quantify my results. Thanks, J
TF is time frame. I am sure no further explanation is necessary on this one. PF refers to profit factor. You will find the formula for calculating it in one of the posts on this thread, thanks to KRSNA. Before his comments, I was simply looking at whether I made money or lost money in a given time frame. He turned me onto fine tuning my trading and aiming higher.