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I put on a clinic this morning on how not to trade.
1.Added to a losing trade
2. Hope took over
3. Traded the P&L not the price action.
I am not in the camp of not adding to trades as they go against me, however in this trade I lost context. I like to see the short-term price action stabilizing, I added on a steep decline, with plenty of daily range yet discovered. I was more focused on not taking a loss than, trusting the price discovery and being patient.
Stats From that trade:
Total Profit: +321 Ticks
Profit Factor: 1.61
Max Drawdown: -528 Ticks ( Risked almost twice the profit margin)
Sharpe Ratio: 9.96
Sortino Ratio:1.00
Probability Risk of Ruin: 21.12% ( Terrible 1 out of every 5 trades like this would blow my account)
Total Contracts committed to the trade: 13
Percent Profitable: 69.23%
Contracts Closed in the Green: 9
Contracts closed in the Red: 4
Average per contract: 25 Ticks
Average Loss per Contract: -132 Ticks
Average Win Per Contract: +94 Ticks
Ratio Avg W/L : .71 (Not good RRR)
Largest Winning Trade: +148 Ticks
Largest Losing Trade: -249 Ticks
Average MAE: 152 Ticks
Average MFE: 72 Ticks
Average ETD : 48 Ticks
As you can see reckless trading is not sustainable, I got lucky and luck is not a way to be consistently profitable.
Today was just a below average trading day, I just mismanaged all day, I was green but that's just P&L the discipline was not there today and I am grateful that I was able to see that at least.
1. Comfortable with reading Tick index triggers
2. Was aware of my lack of discipline today.
3. Didn't swing for counter trend home runs
Improvements:
1. Had a long bias in a huge down day.
2. Not comfortable on the short side.
3. Need to be able to log out.
Key statistics from the day:
Total Profit/Loss: +479 Ticks
Profit factor: 1.45
Max Drawdown: -528 Ticks
Sharpe Ratio: 10.37
Sortino Ratio: 1.00
Probability ROR: 13.54%
Total Trades: 27
Winning Trades:18
Losing Trades: 9
Break-even: 0
Percent Profitable: 66.67%
Average Winner: 69 Ticks
Average Loser: -84 Ticks
Largest Loser:-239 Ticks
Largest Winner: 148 Ticks
Average MAE: 106 Ticks
Average MFE: 55 Ticks
Average ETD: 37 Ticks _ 2023_10_18 (10_02_29 AM)
Today started out with great discipline taking 1R scalps throughout the day (1R=20 Ticks) And then oddly I went on tilt right into the close and just kept adding to a losing trade which isnt the real flaw the real flaw is that I end my trading 30 minutes before the close so breaking that rule was very out of character. I have to be on guard for the tilt, its dangerous and my rules are simple, but I MUST FOLLOW them! Lol
1. I have started adding context to the tick index giving me more confidence.
2. I can tell when I am trading P&L not Set-ups
3. Not swinging for homeruns
Improvements:
1. Need more discipline with patience
2. Still yank profits to fast
3. Need to log out 30 Minutes before close.
Key statistics from the day:
Total Profit/Loss: +445 Ticks
Profit factor: 5.03
Max Drawdown: -163 Ticks
Sharpe Ratio: 10.28
Sortino Ratio: 1.00
Probability ROR: 1.39%
Total Trades: 31
Winning Trades:24
Losing Trades: 6
Break-even: 1
Percent Profitable: 77.42%
Average Winner: 27 Ticks
Average Loser: -32 Ticks
Largest Loser:-64 Ticks
Largest Winner: 131 Ticks
Average MAE: 59 Ticks
Average MFE: 25 Ticks
Average ETD: 10 Ticks _ 2023_10_19 (9_54_38 AM)
Today was kind of a blah day, woke up late an I realized I am just trying to make money today not trade responsibly and take great set-ups so logging out early today, no need to take losses to punish myself.
Positives
1. I confidently add to trades in zones using price and the tick index.
2. I can take a loss
3. P&L a lot less volatile
Improvements:
1. Stay vigilant throughout trading day or don't trade.
2. Hold those winners!
3. Great trades should be obvious.
Key statistics from the day:
Total Profit/Loss: +112 Ticks
Profit factor: 4.04
Max Drawdown: -81 Ticks
Sharpe Ratio: 9.46
Sortino Ratio: 1.00
Probability ROR: 14.68%
Total Trades: 13
Winning Trades:8
Losing Trades: 5
Break-even: 0
Percent Profitable: 61.54%
Average Winner: 28 Ticks
Average Loser: -22 Ticks
Largest Loser:-52 Ticks
Largest Winner: 66 Ticks
Average MAE: 44 Ticks
Average MFE: 26 Ticks
Average ETD: 17 Ticks _ 2023_10_20 (8_04_32 AM)
This week was a profitable week overall, with a few cases of TILT and some boredom trades, but overall I was very consistent with my trades and did not create to many emotional roadblocks. Now the Key moving forward is to stick with the same approach and just remain disciplined.
Positives
1. I traded the same market everyday
2. I traded my own style not someone else's
3. I primarily focused on price and the TICKS not P&L
Improvements:
1. Be more aggressive with your winning trades.
2. Completely own that loses are part of the game.
3. Continue journaling everyday and commit to a hour of back-testing daily.
Key statistics For WEEK:
Total Profit/Loss: +2905 Ticks
Profit factor: 3.20
Max Drawdown: -528 Ticks
Sharpe Ratio: 1.23
Sortino Ratio: 1.00
Probability ROR: 0.00%
Total Trades: 155
Winning Trades:114
Losing Trades: 39
Break-even: 2
Percent Profitable: 73.55%
Average Winner: 38 Ticks
Average Loser: -37 Ticks
Ratio avg win/loss: 1.03
Largest Loser:-239 Ticks
Largest Winner: 184 Ticks
Average MAE: 54 Ticks
Average MFE: 35 Ticks
Average ETD: 16 Ticks
Hope everyone crushed it this week and have a great weekend.
Today was a solid monday because we had a great 1 way trend, it made scalping the the tick index very transparent and gave me confidence in my edge overall. Mondays are usually my hardest day to trade but I felt focused today and also knew when to shut it down for the day. Volatile week ahead with earnings and GDP but very solid bull trend today.
Positives
1. Really just trading my strategy
2. Took regular walk breaks, so I could be stay sharp when in front of the screen
3. Kept discipline and just went long on the extremes of the the index
Improvements:
1. Still not holding my winners for more than 1R (R= 20 Ticks)
2. Still feeling some anxious nervous feeling when i hit the trigger.
3. Not trading bigger yet.
Key statistics from the day:
Total Profit/Loss: +418 Ticks
Profit factor: 3.83
Max Drawdown: -48 Ticks
Sharpe Ratio: 10.23
Sortino Ratio: 1.00
Probability ROR: 0.01%
Total Trades: 34
Winning Trades:27
Losing Trades: 6
Break-even: 1
Percent Profitable: 79.41%
Average Winner: 19 Ticks
Average Loser: -17 Ticks
RRRatio Avg: 1.13
Largest Loser:-48 Ticks
Largest Winner: 56 Ticks
Average MAE: 22 Ticks
Average MFE: 20 Ticks
Average ETD: 8 Ticks _ 2023_10_23 (9_17_18 AM)
Yikes blew one of my PA Accounts today brutal! Lost all discipline and just kept scaling in pretty much bought the entire downtrend and then my trailing drawdown was hit right before the V reversal. But my lack of discipline is why this happened. I take accountability and will learn from this so I can be a better trader,
Trading Stats for the Day
Key statistics from the day:
Total Profit/Loss: -2850 Ticks
Profit factor: 0.08
Max Drawdown: -3025 Ticks
Sharpe Ratio: -4.93
Sortino Ratio: -16.34
Probability ROR: 99.98%
Total Trades: 25
Winning Trades:9
Losing Trades: 15
Break-even: 1
Percent Profitable: 36.00%
Average Winner: 26 Ticks
Average Loser: -206 Ticks
RRRatio Avg: .13
Largest Loser:-412Ticks
Largest Winner: 64 Ticks
Average MAE: 139 Ticks
Average MFE: 19 Ticks
Average ETD: 133 Ticks MNQ DEC23 (2 Minute) 2023_10_24 (8_29_20 AM)
