Net breakdown (contracts traded):
ZS -$1192(25), ZW $423(15), RLM -$86(2), CL $82(4)
ZS -$1192(25), ZW $423(15), RLM -$86(2), CL $82(4)
| RESULTS FOR DAY | |
|---|---|
| Contracts: | 46 |
| Net $P/L: | -773 |
| Wins: | 4 |
| Losses: | 5 |
| Win%: | 44 |
| Avg$Win: | 382 |
| Avg$Loss: | -460 |
1 hour ago
Friday, January 14, 2011
Fri. 1/14
2:15pm CST - Another choppy day. Stopped out by 1 tick on a ZS trade, $800 loser instead of a $1900 winner. I hate the thought of any "edge" I may or may not have only being a tick here or there. But that is often the case. For the week net loss of -$1076.
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Maybe your edge is better than it appears. You called the ZS trade right. The stop was a little tight. It happens to me all the time because the market sometimes just doesn't want to give up precise entries always. Then it takes off in the right direction. I don't see that as losing my edge. Setting stops (to me) is more a matter of what the statistics call for. The brainy work was calling the direction. Of course every plan is different and maybe this is irrelevant to yours. If so, in the words of Rosanne Rosanna-danna "never mind".
ReplyDeleteHi MBA,
ReplyDeleteI know it's important to backtesting. But today's grain is very different. U may want to reduce the contracts, wider SL, and also wider PT. If u target 6-15 cents with smaller contracts, the result might be good today. It's okay to lose on 5-10 cents market range. But 16 cents ZS range in 2 hours with little pullback, should make money with breakout trading. IMHO, good luck with next week :)
What are the commissions per contract? Not obvious from the OEC web site. I'm not familiar with ZS, so what is the dollar amount per tick and what is the commission?
ReplyDeleteYM, maybe but the realist in me says likely not. Using the stats for stop setting is good for long term plan but sometimes the short term has a different idea on what works!
ReplyDeleteDe'T - the potential is there nearly every day in ZS but, as they say, results will vary. A 16c move is nice but not always catchable.
TCat - ZS is $12.50 per tick (or $50 for a 1 cent move per contract). Commissions for OEC are here: OEC Rate Calculator. Just enter ZS.