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Posting My trading Metrics from Friday along with statements.
Keeping risk constant has already highlighted some of my strengths and weaknesses as a trader. Statement 216 NT
This second image is what passive investing 500$ a month for 30 Years with 12% returns would look like. I attach this with my statement because my account is starting with 1,000$ usd and I will be contributing 500$ a month to it, while never risking more than 1% on any trade. Investment Balance
Trader Performance 2/20/2024
Total Net Profit: (-$40.00)-32 Ticks
Gross Profit: $0.00/0 Ticks
Gross Loss: ($40.00)/-32 Ticks
Profit Factor: 0.00
Max Drawdown: -32 Ticks
Sharpe Ratio: -8.98
Sortino Ratio: -2.79
Ulcer Index: 0.00
Probability: 100.00
Total # of Trades: 4
Percent Profitable: 0.00%
# of winning trades: 0
# of losing trades:4
# of even trades :0
Avg Trade: -8 Ticks
Avg Winning Trade:0 Tick
Avg Losing Trade: -8 Ticks
Ratio Avg. win/avg loss: 0.00
Max Consecutive Winners: 0
Max Consecutive Losers:4
Largest Winning Trade: 0 Tick
Largest Losing Trade: 8 Ticks
Avg # of trades per day: 5.79
Avg Time in Market: 11.16
Profit Per Month: -976 Ticks
Max Time to recover: 0.17 Days
Longest Flat Period: 104.79 Min
Avg MAE: 8 TICKS
Avg MFE: 9 TICKS
Avg ETD: 17 TICKS
Today presented some great downside set-ups, I cam into today trading a bit of a long bias. That proved ineffective, I switched to the short side while maintaining my 1% risk model, I was stopped out at the high tick of that move and then the market fell 52 ticks in the direction I was expecting. That's trading sometimes though so nothing for me to complain about. I followed all my rules (haha only 1 rule NEVER risk more than 1%). But this professional approach to trading and journaling really helps keep my trading performance in perspective. Feb 20 ES
Making a few Risk Adjustments
Going to a 1 Minute Chart from a 2 Minute
Cutting my Risk from 8 Ticks to 4 Ticks
Read the Bruce Kovner interview in market wizards he stated "whatever you think you should be risking, cut it in half"
It makes me think of something that I say to myself often: "Trades that work,work" all of my winning trades pretty much start as winners so I don't need to give my losing trades "room" to work.
Trader Performance 2/21/2024
Total Net Profit: (-$7.50)-6 Ticks
Gross Profit: $27.50/220Ticks
Gross Loss: ($35.00)/-28 Ticks
Profit Factor: 0.79
Max Drawdown: -28 Ticks
Sharpe Ratio: -9.15
Sortino Ratio: -30.36
Ulcer Index: 0.00
Probability: 59.93
Total # of Trades: 7
Percent Profitable: 14.29%
# of winning trades: 1
# of losing trades:6
# of even trades :0
Avg Trade: -1 Ticks
Avg Winning Trade:+22 Tick
Avg Losing Trade: -5 Ticks
Ratio Avg. win/avg loss: 4.71
Max Consecutive Winners: 6
Max Consecutive Losers:1
Largest Winning Trade:+22 Tick
Largest Losing Trade: -8 Ticks
Avg # of trades per day: 10.14
Avg Time in Market: 2.58
Profit Per Month: -183 Ticks
Max Time to recover: 0.18 Days
Longest Flat Period: 171.00 Min
Avg MAE: 4 TICKS
Avg MFE: 8 TICKS
Avg ETD: 9 TICKS
Today I really started to get a firm grip on what RISK really is, and how to apply a risk per trade metric that won't put me on tilt. I cut my risk in half too 4 ticks (previously 8ticks) I watch the 30 second chart/30 Minute chart & a Daily chart and at minimum I want my wining trades 5 times larger than my losing trades. A very productive day for me today in learning what type of risk profile will not create too many emotions for me so I wont be able to trade effectively Feb 21 ES 30 Second
Trader Performance 2/22/2024
Total Net Profit: (+$15.00)+3 Points
Gross Profit: $40.00/+8 Points
Gross Loss: (-$25.00)/-5 Points
Profit Factor: 1.60
Max Drawdown: -3 Points
Sharpe Ratio: +9.28
Sortino Ratio: +1.00
Ulcer Index: 0.00
Probability: 26.67%
Total # of Trades: 8
Percent Profitable: 37.50%
# of winning trades: 3
# of losing trades:5
# of even trades :0
Avg Trade: +0.35 Points
Avg Winning Trade:+2.6 Points
Avg Losing Trade: -1 Point
Ratio Avg. win/avg loss: 2.67
Max Consecutive Winners: 2
Max Consecutive Losers:3
Largest Winning Trade:+3.25 Points
Largest Losing Trade: -1 Point
Avg # of trades per day: 11.59
Avg Time in Market: 1.21
Profit Per Month: +91.5 Points
Max Time to recover: 0.09 Days
Longest Flat Period: 135.56 Min
Avg MAE: 0.75 Points
Avg MFE: 1.59 Points
Avg ETD: 1.21 Points
Today was good I am really getting comfortable with taking small losses, it is great for building my discipline as a trader and more importantly it REMOVES HOPE from my trading which is the most dangerous part of trading in my opinion. Feb 22 Trades
Been analyzing my preformance on MES this week and I am in the belief that MNQ may offer more trading opportunities for my trading style which I can finally succinctly define in a sentence Lol
I asked Chat GPT the benefits of tight stops and I could not agree more especially with Number 7
