Trade Plan (A Reality Check)

Discussion in 'Risk Management' started by suriNotes, Dec 12, 2007.

  1. hi,

    Here is an educational tool (a reality check) I built for eMini traders... Still a Beta version but
    It analyzes individual $ Goal per day for a given eMini instrument (ES, ER2, NQ, YM) and determines the Number of Trades one need to make to reach a Daily goal, keeping given Win%, Profit and Stop loss...

    I will be adding 'Is it Really Possible' section soon...

  2. Thanks Suri.

    P.s. Enjoyed the presentation the other day, too. Keep it up.
  3. No offense but your model is linear based, with no input for position size management and many other variables. Really misleading for beginners who it is intended for.
  4. hi bsparkyman,

    thanks for your post.

    it is NOT any model or Position Size management method or analysis...

    it is a simple reality check calculator designed as educational tool to show for eMini Traders how many TRADES you need to make with a set $goal, profit targets or stops and a given win%.. also helpful to see how commissions play a role...


  5. Agreed, but profit targets, stops, win% on method of entry and position size should not be static inputs.

  6. Boib


    I agree; This will just get beginners to trade more contracts to make more money.

    I doubt very much that many on this site will have proven data to input. How many beginners have actually figured out their win/loss ratio. How many know what their average loss is or their average win.

    If they have taken the time to figure that out surely they can figure out how many trades they have to do to earn $x per day.

    Just curious but what effect does #9. "How do you see today's trading day?" have on the outcome? Am I supposed to guess answer going into the trading day or am I supposed to assess the the day gone by?
  7. Boib


    If you really want to help new traders you need a calculator that will show the expected draw down for each of your chart patterns/trading strategies.

    Most focus on how much they can make. You should really focus on how much you can lose.
  8. your program is flawed.... if it is that great trade it live and dont sell it for sixty bucks.
  9. not really a program or a calculator, but a cool article on devising an effective trading plan

    trading plan