Quote:
Originally Posted by ToothSayer
I keep a spreadsheet over 30 parameters wide and document every trade. Including reasons, category of reason, my own certainty on the trade, the market environment, the likely market view of the stock/news, even mood and how much sleep I had the night before. Over time it becomes a data goldmine with some surprising insights. For example, I become a losing trader with < 6 hours sleep or when my mood isn't settled. If I haven't had a good night's sleep, I shouldn't trade anything except what I classify as low risk, high return. The fine judgment required just isn't there.
This sort of qualitative data is very important for what you do since many of your trades are very subjective in terms of what gets you into a trade as well as how much you bet. I'd also wonder if you trade better when your previous x trades did well/poorly.
Quote:
Originally Posted by Clayton
yeah i have resources like that too, i guess just the nature of trading futures and their notional values plus trading for a firm just makes the concept of being up 5% or 20% or whatever totally foreign to me. i'm only about the pnl baby.
i will prolly post a graph when i retire / the robots take over.
% return is super important so I don't really understand why some people just choose to not calculate it. We all have a bankroll/liferoll in some sense and we don't have to keep it invested in our firm/daytrading/swing trading strategies. You have to compare your returns to what they'd be if you allocated your roll in something else.
I know guys who built up 7 figure bankrolls trading not very scalable strategies who will bust their ass for 150k per year. I always wonder why they don't invest it all and earn nearly the same return but with almost no work on their part. Or at least the guys who daytrade but have held a $1m cash position for the past 5+ years. Seems criminal to not at least invest in something low risk.
Quote:
Originally Posted by juan valdez
you know what your C is and you know your pnl....
i asked because the chart looks great but i have no clue what it really means. im not going to ask him his pnl
Outperformed the market by multiples, and using strategies that likely fair better in down markets.