The hard road to consistency

Discussion in 'Journals' started by calmeurotrader, Oct 1, 2012.

  1. I would be interested in your strategy.... placing a stop 5 pips above 29 is a little too tight in my opinion. If it hits 29 it can easily go up by 10-15 pips. My stop would have been above that.
     
    #11     Oct 2, 2012
  2. Thanks for the comments danielc1. Thinking long term and not being affected by the outcome of the current trade is really tough for me.
    This is something I definitely need to improve.
     
    #12     Oct 2, 2012
  3. I think consistency is possible, otherwise any trading exercise would be pointless :) I try to follow the rules
    and the profit is the result of a well executed plan.
    Of course the plan might be altered when market changes his behaviour. Any change to the plan should be backed by a large sample of data/past trades.
    Also by not adhering to the game plan it is very hard to judge the performance of the method. You will never know whether profit or loss is just a random or the result of your skill.
     
    #13     Oct 2, 2012
  4. By observing the market, developing the ideas, backtesting and forward testing manually.
     
    #14     Oct 2, 2012
  5. P/L : -111$ on one trade stopped out
     
    #15     Oct 2, 2012
  6. I don't know about the last paragraph -- behavior modification but the rest of this post is EXACTLY where its at. Find the positive expectation and let it play out over the full sample -- not just in testing -- but in your trading.

    I'm not suggesting that if you are trading a methodology not a system there is not legitimate judgement involved but you can't get too creative about what you pass up. Finding "your" trades is hard. It is foolish not to trade them once you find them.

     
    #16     Oct 2, 2012
  7. BUY 148K 28949 STOP 28889 TARGET 29069
     
    #17     Oct 3, 2012
  8. stopped out
     
    #18     Oct 3, 2012
  9. BUY 130K 2894, STOP 2886, TARGET 2934
     
    #19     Oct 3, 2012
  10. 97-02 was a resistance zone, when broken decisively the trade lost validity
     
    #20     Oct 3, 2012