Scalping and Analysing your trades

Discussion in 'Trading' started by douwe, Feb 21, 2005.

  1. douwe

    douwe

    I use Interactive Brokers and it's a pitty that they don't have this feature. I keep track of my trades in Excel:
    Av. W/L, Largest W/L, % Profitable, Ratio W/L, AV. duration W/L, Max duration W/L, Profit Factor.
     
    #11     Feb 22, 2005
  2. douwe

    douwe


    This is how I trade, i have 4 setups. When I see a setup developing I write down entry, initial stoploss and the price target.

    When my entry is hit I immediately place my initial stoploss and write down filling price, initial stoploss and the time on my trading sheet. (5/7 seconds)

    When the market moves in my favor I move my stop (and write it down) till my price target is hit. If the market doesn't move in my favor my initial stoploss is hit. When the position is closed I make a jpg of the chart, write down my thoughts and write down exit price and time, this will take app. 20 seconds.

    The problem is when entering the position. I miss 5/7 seconds of the trade and imho is the most important part of your trade (where you wrong or right when entering the market). But I also want to write down my trade in case of system failure :D
     
    #12     Feb 22, 2005
  3. That's not scalping though. I can't imagine for a second that I would be writing stuff down right after getting filled and then doing so much stuff away from the flow of the market. What would be the difference between doing all of this right on the trade and doing it all after you are out and you are waiting for the next setup? I would consider not being distracted with this until the trade is complete.

    Also, in case of system failure, you will now that you have a position on of a certain size long or short and your only option is to call your broker and get out right away. Having the exact entry, stop, etc wouldn't be a concern for me. I would just want to be out. I'm saying all of this because you say that you are "scalping". For scalping, the flow and rhythm of the market is extremely important and you can't have it if you are writing stuff down and making JPGs etc.

    Let me know what your thoughts are.
     
    #13     Feb 22, 2005
  4. I just noticed that the histogram scale is incorrect on the one I posted. In the process of removing the trader's name and some details, I shifted the scale. Here is a fresh one. My previous post will be deleted.
     
    #14     Feb 22, 2005
  5. douwe

    douwe

    1.I also use Market Depth of SP500 and ER2 (I trade ER2) when trading my setups (are there in sync) but not leading. Price and Volume are more important. But I will include the tape, thanx for your advice
    2.Thanx again
    3.Good tip!
    4.during trading I’m focused on my breath, I watch if it’s calm and relaxed
    5.I will look in to it!
    7.I keep a dairy where I write down what I have learned that day, things that went well/wrong and shut improve for the next time.

    Thanx for your replying
     
    #15     Feb 22, 2005
  6. douwe

    douwe

    I don't scalp, I don't have enough experience at the moment. But eventually I want to scalp.

    Your right about keeping track of my trades. I should change it and write down the stuff after the trade is closed, or perhaps after the market is closed.

    Thanx for the feedback, the problem is I don't know a lot of traders so ET is perfect for this kind of things.
     
    #16     Feb 22, 2005
  7. douwe

    douwe

    This jpg is an example.

    ES Cum. B/A =4149/7177
    ER2 Cum. B/A = 302/489

    And an ascending triangle in the ER2. In this example i hadn't the time to write things down, the ER2 moved very fast.

    ps. "Vrije grafiek" is Dutch:D.
     
    #17     Feb 22, 2005
  8. douwe

    douwe

    With chart
     
    #18     Feb 22, 2005
  9. OK... the title of the thread is misleading. I thought you were scalping already.
     
    #19     Feb 22, 2005
  10. douwe

    douwe

    When posting I new thread I use headlines like English tabloids so most ET members are interested :D, sorry for the confusion. That's why I mentioned how many trades I have during the day :). Because I want to scalp in the future I was curious how people analyze there trades when scalping
     
    #20     Feb 22, 2005