Absolutely - you've been through the mill goat and it seems to me like you're starting to round that corner that I talked about. Take away the pressure of trying to make money. Aim to break even - such an important first step and for me it was really liberating when I made that my aim. I could focus then on what I was doing and experiment and tweak away to my heart's content. This is the bit that seperates out the real traders from those that just want to make money. It's a delicate topic because of course we all want to make money - but some are in it to learn how to trade and some just to make money. It's a weird topic as the measure of success is making money, but for me the best way to approach it all is for the actual money results to be secondary. Best analogy for me is poker just because that's my background - short term variance there is so extreme that you really have to put results out of your mind and focus on the process. Although the variance in trading is a lot less volatile (in most cases), I do think it's a helpful mindset.goat68 wrote: ↑Mon Dec 28, 2020 7:34 pmSpot on, I am getting better at the former things, but i'm struggling to find "having a strategy that makes money in the first place", but I sort of expect that otherwise we'd all be rich. Anyway, i'm hoping my trial and error automation might eventually get somewhere...........
90 Days Trading Challenge
Nivi7 thought of it. Problem was he soon stopped talking about trading and started abusing other forum members and demanding sexy photos of mothers.
I'm still waiting for ST's results for today. He can even lose and still be ahead of his day 3 £66.55 mark.
Try not to care what happens over o day or a week.goat68 wrote: ↑Mon Dec 28, 2020 7:20 pmI understand, Linus said the same the other day. I was just saying "today" was not good!Trader724 wrote: ↑Mon Dec 28, 2020 7:15 pmThis is not how it works, depending on what you have chosen to do, chances are that your strategy will work better in some conditions and worse in others, but in order to have an idea of what those conditions are, you have to give it enough time. Then you will know what is the average profit, average loss and strike rate and from there you have to look for solutions to improve one of them without negatively influencing the other. You need a large number of trades for your results to have statistical significance, you can not draw conclusions after a few trades.
I am happy I have my automation ruleset as per my "model", I fixed a few bugs I noticed today. So I am going to let it run for a while now as-is.
The ruleset has 2 strategies in it which target 2 different conditions.
-
Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
Damn Peter's been rumbled!
Looks like I'll have to spend my days in some other forum pretending to know what I'm talking about!
Maybe I'll go to mumsnet and introduce myself as Susan, a successful mother of 3 with 2 Michelin stars in the kitchen and an R rating in the bedroom
So long!
Trader Pat wrote: ↑Mon Dec 28, 2020 8:05 pmDamn Peter's been rumbled!
Looks like I'll have to spend my days in some other forum pretending to know what I'm talking about!
Maybe I'll go to mumsnet and introduce myself as Susan, a successful mother of 3 with 2 Michelin stars in the kitchen and an R rating in the bedroom
So long!
Tell me more about those Michelin stars!!!Trader Pat wrote: ↑Mon Dec 28, 2020 8:05 pmDamn Peter's been rumbled!
Looks like I'll have to spend my days in some other forum pretending to know what I'm talking about!
Maybe I'll go to mumsnet and introduce myself as Susan, a successful mother of 3 with 2 Michelin stars in the kitchen and an R rating in the bedroom
So long!
-
Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
Please pay attention to the rules jimibtsmarttraderr wrote: ↑Fri Dec 25, 2020 12:23 amAt anytime if you blow-up your bank, you can start your challenge again.
Sorry everyone - only joking!
-
The Silk Run
- Posts: 983
- Joined: Mon May 14, 2018 12:53 am
-
smarttraderr
- Posts: 74
- Joined: Tue Jul 03, 2018 7:38 am
End of Day 3 - Report
Starting Balance - £85.33
Closing Balance - £111.82
Planned Target - 10%
Actual Return - 31%
Sorry had busy day so just got chance to update.
Starting Balance - £85.33
Closing Balance - £111.82
Planned Target - 10%
Actual Return - 31%
Sorry had busy day so just got chance to update.
You do not have the required permissions to view the files attached to this post.
Well done.smarttraderr wrote: ↑Mon Dec 28, 2020 9:36 pmEnd of Day 3 - Report
Starting Balance - £85.33
Closing Balance - £111.82
Planned Target - 10%
Actual Return - 31%
Sorry had busy day so just got chance to update.
Day3.png