CL $466(37), GC -$367(11), ZS $107(1)
| RESULTS FOR DAY | |
|---|---|
| Contracts: | 49 |
| Net $P/L: | 204 |
| Wins: | 18 |
| Losses: | 28 |
| Win%: | 39 |
| Avg$Win: | 82 |
| Avg$Loss: | -45 |
14 hours ago
Monday, December 3, 2012
Mon. 12/03
1:10pm CST - Decided to continue the quick scalping this week to see how things shake out. Many of you may think I'm playing with fire based on my past discretionary efforts. But a benefit in studying history is so that you don't repeat it. That's my thoughts for now anyways. Gold was not very golden today but otherwise a good day.
Net breakdown (contracts traded):
CL $466(37), GC -$367(11), ZS $107(1)
CL $466(37), GC -$367(11), ZS $107(1)
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The first thing that comes to mind is, were there really -dozens- of "quality" setups that occurred today? And unless you're getting way better rates than me, commissions outweighed profits. Granted, today might have been a little unlucky at times, but if a strategy only has an expectancy of half a tick, it doesn't leave much room for error. But nice to see green!
ReplyDelete@Kroz...interesting comments.
ReplyDeleteI've often battled with the idea of trading just "quality" setups or all of 'em. I've come to the conclusion that they are all quality if they end up with positive E over time.
Commissions outweighing profits (but net profits being made)isn't inherently dangerous in my opinion IF you can maintain discipline/reduce error. The finer the edge, the easier it is to fluff up and the more faith that's required to trade it.
MM
MBA, lately your trades were better after you warmed up a bit..probably have something to do with the engineering/machines :) an idea > 1st part sim 2nd part live ?
ReplyDeleteKroz, you are right that trading like this definitely racks up commissions. And "quality" setups varies by trader I guess. Perhaps random entries would work just as well with how I'm scalping.
ReplyDeleteMM, yes that is all that really matters, positive E in the long run!
TST, good idea but can't really draw any conclusions after a few days. Tues. trades I did better early on...