Friday, May 29, 2009

ES May Trading Summary

RESULTS FOR MAY
Contracts:342
Net $P/L:-9889
Wins:75
Losses:82
Win%:48
Avg$Win:65
Avg$Loss:-180

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4 comments:

  1. AnonymousMay 29, 2009 at 6:51 PM

    MBA, you purchased an educational package from the ES market itself for the real price of $9,889.00 and one month of your life. I'd opine that's a very expensive purchase you made there. In exchange, the ES is telling you (and all of us) two things:

    #1: Your losses cannot be larger than your profits. Absolutely cannot, no way no how, end of story.

    #2: Averaging down is the cause of #1. For a period of time in the past, you were positively rewarded for that behavior. It is deeply ingrained in your subconscious mind as a viable tactic or approach. With all due & utmost respect, you need to totally deprogram that from your mind. Totally.

    #3: Larger profits than loss is the only way retail traders succeed long-term. The only way. Please heed the education you just purchased for your -$10,000 cash and one month gone from your life.

    I'd suspect that you are closer to consistent success than you think... but it lies beyond those destructive mindset hurdles which need to be cleared first :)

    ReplyDelete
  2. MBAGearheadMay 30, 2009 at 9:30 AM

    Austin, too bad this wasn't the only "educational package" that I have purchased in my past! Months like May are very "character building" and unfortunately I now have enough character to be a saint. :)

    #1 - Agree in total, but it depends on your win% and avg.$win vs. avg$loss.

    #2 - Partly true yes (nearly deprogrammed after 2 years!), but also due to improper trade management this month. A monkey could have executed many trades better!

    #3 - Heeding underway!

    Thanks for the feedback.

    ReplyDelete
  3. AnonymousMay 30, 2009 at 1:59 PM

    Austin,
    I disagree with #1. It is a true for a swing traders. But it is different story for scalping.
    For example, my NT programmed to take stop exit with one tick profit if my nonrealized profit was 6 ticks. Or if I take contertrend trade and the DOM stalls I would get out with 1-2-3 ticks profit. All these trades will decrease your average win/average loss ratio but increase % winning trades.
    Someone may have ratio higher then 1 with B/E scratches but lower % of wins. The scalping is an art of statistical game. The most succesful scalpers I know are able to keep positive balance by sorting their setups on higher and lower probability trades. Then they would enter with higher numbers of contracts and stay longer on high probability setups. Good example of that is the movie "21" (2008)
    TraderB52

    ReplyDelete
  4. E-Mini PlayerMay 31, 2009 at 12:53 PM

    100% agree with Austin!

    ReplyDelete

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