a good week to start the new year. +12000 good luck for the new year everyone. 1K a day keeps your boss away. njrookie
Since we're still in the season of 2013 resolutions/goals, anyone else care to share trading goals for 2013? It might be interesting to check in from time to time and to have something on paper to remind ourselves. for me, 2012 goals: 750k net for prop account (not met) and, 10% return on brokerage account (met) 2013: 850k net for prop account 10% return on brokerage account Call me crazy, but I'm going to up my goal not met and think I can meet it. The first half of 2012 included multiple disasters that could have been avoided. I lost one of my key edges early in the year and had to push to find new ones. In 2013, I will be introducing a completely new gray box strategy I've been working on and testing for the last 6 months...hopefully this will fill in the gap from last year. No matter what terms your goals are in (net, %, VAMI, Sharpe, etc.), others would enjoy you sharing them. This forum can be very helpful when its honest, supportive, and informative. Looking forward to great 2013 for everyone.
what pct% are you shooting for in terms of meeting your goals? and compared to what pct% of last year? or against the past 3 years? my goal is 25% on IRA account... but that can come from trading it or from the real estate that is held within... I use the trade profits to buy more real estate, I have not really come up with proper metrics to keep track of things...
% doesn't apply well, in my case. My main source of income is a prop account where I maintain minimum equity of 50-75k. It's quite low maintenance requirement b/c I have a been with the firm in good standing for a long time. I really only concentrate on take home, no matter how I get it. Between both accounts in 2012(prop and retail account), I netted about 580k...530 or so of which was in my prop account. The reason why I encourage people to post their goals in any way is b/c everyone's situation is different. You are in IRA, others trade a retail account, I trade prop, etc. Those are my goals given my situation. To give 1000% for my return makes no sense b/c it's not really scalable. If I put 500k in a prop account, I wouldn't start trading 10x my size.
I think you might have misunderstood bc I might have not been clear... I mean pct% of your goal achieved... for example.. Year Goal Actual pct% 2011 650 725 112% 2012 750 530 70% 2013 850 ??? I think that knowing how close you came to goal and being able to compare to prior years helps guide one in a way... I can understand what you mean against capital... regardless of the amount on the IRA I dont trade the whole amount, I trade what I need given the opportunity... risk management is #1 for me...
Mathematical goals I guess are nice...but what creates those earnings is where I would be focused on. The increased earnings should come from better edge implementation.
yes, I concur, which is why I thought about the % of goal met... bc that would lead to ask, what did I do different, did something change on the strat or the market.. beyond looking at the subaccounts trading specific markets to determine which market produced and which one didn't... I am learning from all of you, so I hope my comments are not taken the wrong way at all...
Agreed and I misunderstood. I didn't have well defined goals leading up til last year. 2010 and 2011 exceeded my expectations, though. net numbers pretty similar to 2012, a little less. For me, better implementation and execution will absolutely lead me to meeting my goals. I have many personality flaws that affect my trading, pos and neg.