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Thanks for your support! Once again shows this site would be nothing without you, I am truly amazed by the work you put into this forum!
But:
Maybe I am wrong on this but I thought "most people" don't journal at all, I thought it was one of the reasons why "most people" are actually losing money....
Correct. I am just saying that you should not always give with the expectations to get. Sometimes you give because in the end, you will receive -- but it will be indirectly. So in other words, don't get discouraged because no one is giving feedback on the spreadsheet. Know that it all works out in the end.
I'm using the tracking spreadsheet. The other day, I went through much, but not all, of the overview tab fixing the formulas (rev 1.6.2). I got pulled away and never got back to it over the weekend.
This raises the questions:
How should I get the fixes to you?
How does one migrate to the newer revisions?
Are you just reentering the data in the new revision?
I'm still using the template and plan to download the new one, for which I'm grateful. However, I've made a lot of changes to my version, so I'm uncertain what approach I'll take to the new one.
As far as suggestions go, I added scatter plots for MFE and MAE to mine, which I find useful for evaluating stops etc, at least when first trying out new methods or ideas.
I am attaching an xls that I use to analyze best scales and initial stop loss placement.
I have two objectives, first to share with fellow MBT's and hope this will help you the same way it helped me, and second to ask for corrections and suggestions.
This is very simple compared to other xls posted here but the objective is very focused too, just to milk a specific trade as much as possible.
I do not backtest but I like to follow a trade (or a new product) and take manual records for months before adopting it.
All the numbers are entered manually/daily, this way I have a good feeling for the specific trade and I am aware of externalities (news etc). For example if I do not trade a trend set up around news then I do not include it, on the other hand, if I am trading a breakout set up, then it should be part of the "around news" trade. So each one should decide what to include or not.
The first page shows the stats, best scales all in all out, and a reasonable stop loss location. The second page shows best scales in order to maximize r/r.
Instead of explaining in detail I will let you tear it apart (lol) and ask me questions.
Sounds very interesting!
Would you be willing to to share your version? Perhaps I could have a look at yours :
1. to have a look at the changes you made and perhaps steal some of them for future versions
2. to hopefully find an easy way for you to update
3. I was already thinking about these plots and would really like to see how they turn out!
Thanks a lot. I will have a very close look at your spreadsheet and, with your approval, might incorporate some into the journal...
It might be a good idea to stick that into the journal....
However, my first question would be how you define MFE for these calculations, as it clearly must be an after trade MFE!?