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Showing results for tags 'p/l'.
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Being accountable to someone/something is an important part of any business, incl. trading. Whether you have been around the block or brand new, knowing that you need to report your #'s can be a great motivation to do your job properly. Prior to being a full-time trader, I was a stockbroker and we had quotas to meet every month and you knew that hitting those #'s were incredibly important to keeping your job. You also knew that hitting those #'s consistently meant that your chances for success increased dramatically. With that said, I was hoping we could post and discuss the current day's trades and move on. We don't have to create a 5 page thread about 1 trade or 1 day, but just a place to post your thoughts on the day and move on. My goal would be something quick and easy so we can get as much participation as possible. Exactly what you post is up to you. The quickest method that comes to mind is taking a screen shot of your daily P/L. Maybe include a sentence or two on your day. For example: (recent P/L statement) Or you can post your thoughts on the day, whether you followed your plan and/or if you are happy w/ the day's results. If you are not comfortable posting a screenshot of your actual P/L, that's ok! Feel free to post your own version of the daily scorecard that you'd like to create. Could be as simple as: In the end it's more about being accountable and feeling that there will be people watching and waiting to see your results on the day. For the goal-oriented traders it can hopefully provide a benefit. Personally I have started this thread b/c I'd like to step up my trading results. I feel like I've been 'floating' along in recent memory and could probably use some motivation to get even more done and do my job with better focus. ============== Update - adding a few questions I've received about the account being presented: What size account is this? $10,000. When do you plan to increase the # of contracts being traded? I think I will bump it up at $20,000. Is this the only account you have? While I am trading in a few accounts, I am presenting the account that is a realistic starting point for many people. Funding an account w/ $10k is very reasonable and something that most can follow.
******************* The e-Ratio (Edge Ratio) for MAE/MFE analyses the quality of an entry This formula computes the advantage of an entry normalized with the ATR to compare with differents markets thtough different periods This Excel SpreadSheet could be a base to ; add Graphs Create different statisticals Incorporate in a strategie Plot values on a graph and so on --------------------------------------------------------------------------------------- PS I'm not an Expert with Excel and I'm not sure at 100% of my program Feel free to correct it and to post your improvement ************************************** ****************************************
well since i'm a newb but at this point given up on the idea of a career outside of trading i would love to have a discussion on building a track record. Is anyone else interested in this path? While i have zero interest in ever being "king trader of the street" looking at the CTAs on autumn gold it seems i may as well at least leave that door open. anyone a CTA here? Anyone doing managed accounts in general?