Displaying Profit/Loss on the ladder in terms of %

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Shuffler
Posts: 12
Joined: Wed Dec 19, 2018 8:52 am

I'd like to suggest the ability to display Profit and Loss on the ladder in terms of %

Either "optionally instead of" or "as well as" (in the form of another column) the monetary green and red column we already have.

This would help with self discipline / managing your trade if you've set out with a plan of say getting out on 20% green or 20% red.

It would obviously need to constantly update as stakes are added or subtracted in the same way the monetary P/L does.

I think this would be particularly helpful to new traders.

Sorry I can't add a poll to this as I don't know how.

If anyone that does would like to add one feel free.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Having any kind of visible PL, be it monetary or percentage, isn't a good idea imo. The market doesn't care what your PL is therefore your PL isn't a factor in deciding whether to increase or reduce your position.

Whenever I see people wanting to exit at a given £, ticks or percentage I figure they've given up on reading the market. Knowing roughly what your overall cash position is has some use so you can see you're happy with your exposure, or £s per tick, but the actual amount of your current unrealised PL is just a distraction. Even the fact +ve and -ve are different colours gives rise to poor decision making.

But there you go, that's the consequence of 'trading' being interpreted as an extry and an exit rather than a series of bets on the next market direction, followed by a hedging bet at the end if necessary. If you get the suggestion through then fair play but it does seem like a gimmick that would encourage a mindset that's a prime cause of new people failing.

(sorry, bit of a rant there Shuffler :) . You've hit on two of my pet peeves , one being that trading isn't an entry and an exit, and people using one set of criteria for one bet and then different set for another.)
Shuffler
Posts: 12
Joined: Wed Dec 19, 2018 8:52 am

Hi Shaun
Thanks for your input. Is that a no from you then :lol:
I was hoping more might chip in but maybe the thread is lost or I'm on my own with it.
Are you referring predominantly to pre race trading or trading across the board ?
My angle I'm coming from is inplay,... particularly tennis.
One brief example,.. waiting for the right time to enter (hopefully) based on the play. Then managing the trade / exit at a defined "score" or "profit/ loss' depending on the strategy being adopted.
I wouldn't see this as giving up on the markets as it's the play that is dictating events, but am happy to listen to different views.
Cheers
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

I can't really comment on the mechanics of tennis but adding to or reducing your position always depends on the state of the market not your personal pain threshold. The market could be screaming a move in a given direction whether you personally are +£5 or -10% at that time. That's why staking is so important, it needs to be small enough to let the position breathe without you being forced into doing things just because the amounts get uncomfortable.
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Tuco
Posts: 727
Joined: Wed Apr 15, 2009 1:43 pm

ShaunWhite wrote:
Thu Apr 15, 2021 3:39 pm
I can't really comment on the mechanics of tennis but adding to or reducing your position always depends on the state of the market not your personal pain threshold. The market could be screaming a move in a given direction whether you personally are +£5 or -10% at that time. That's why staking is so important, it needs to be small enough to let the position breathe without you being forced into doing things just because the amounts get uncomfortable.
...exactly - look at what's happening in the event rather than just your P&L profit / profit %age
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