When you've been at this game for years giving it everything you have, and you're still stuck at small stakes not making any headway, reading some of the more heavily P&L-focused blogs and forum posts which don't offer any insight on how they achieve their profits can be anything from puzzling to demoralizing.
In fact I'd imagine this would be downright dangerous for those who don't have the experience, patience and discipline to know enough to avoid throwing caution to the wind in a reckless attempt to try and duplicate these kinds of figures.
If you're doing well my hat's off to you for making it work. I just don't see the purpose of going out of one's way to display such an impressive P&L on a public forum without at least offering a basic description of the thought process when deciding to open and/or close the trade(s)?
Trade(s) Of The Day
Don't get me ironic but in what I read here, Peter, Adam and other pro traders when they post their results and cracking profits (let an example be Peter's last blog entry) without in depth explanation is puzzling and demoralizing.
I do not think like this. For me screenshot of an outstanding P&L result is only an information of what is achievable and how far I am behind the best. I'ts really great that they post their results because best pro traders were and are a great inspiration.
I do not think like this. For me screenshot of an outstanding P&L result is only an information of what is achievable and how far I am behind the best. I'ts really great that they post their results because best pro traders were and are a great inspiration.
I don't think people should stop posting for the above reasons. It's nice to see people do well, even if you don't know how it was achieved and yes, it can be misleading, but trading is a lonely world so it's nice to shout about it when you have done well.
I don't think people are daft enough to not realise that is takes, work risk and effort so I'm not sure that posting P&L's will change that. For contrast, if people just posted up bad results I am not sure that would exactly be motivational?
I'm relaxed about what you should post, so I am open to suggestions about posting policy.
I don't think people are daft enough to not realise that is takes, work risk and effort so I'm not sure that posting P&L's will change that. For contrast, if people just posted up bad results I am not sure that would exactly be motivational?
I'm relaxed about what you should post, so I am open to suggestions about posting policy.
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thegrandpoohbah23
- Posts: 3
- Joined: Wed Oct 21, 2009 12:49 pm
The good thing about a forum is if you don't find something helpful, you don't have to read. I am personally interested in trades of the day. A small story and a screenshot would be nice. It doesn't have to be the biggest profit. The best trades are the ones in which you risked the least and made the biggest gains. I will try to screenshot some of the luck I've had backing to lay off in play, and include a breif of how i got to that outcome. Sometimes $5 can go a long way 
I reckon this must be the right thread for this.
piccy
Thats from a few days ago, it's the first day I managed to trade in every horse race I chose and make a (small) profit from almost all of them with no losses.
16/17 profit and 1 scratched.
I'm right at the start of my trading career, if you can call it that, using [fanfare] £10 stakes to trade with.
In the few days since then I am now 34/35 and with no having to trade races after the off, I'm out of every market 5-10mins before it runs.
All I'm doing is basic scalping taking 1 or 2 ticks of profit a time, making 10 or so trades per race, mostly successful but I cut my losses fast if the market moves the other way.
I know it's peanuts compared to the "pros" out there, but I was dancing around the room after I looked at the P/L.
Still need to work on the tennis tho
This time next year Rodders I'll be a multi-thousandaire...
piccy
Thats from a few days ago, it's the first day I managed to trade in every horse race I chose and make a (small) profit from almost all of them with no losses.
16/17 profit and 1 scratched.
I'm right at the start of my trading career, if you can call it that, using [fanfare] £10 stakes to trade with.
In the few days since then I am now 34/35 and with no having to trade races after the off, I'm out of every market 5-10mins before it runs.
All I'm doing is basic scalping taking 1 or 2 ticks of profit a time, making 10 or so trades per race, mostly successful but I cut my losses fast if the market moves the other way.
I know it's peanuts compared to the "pros" out there, but I was dancing around the room after I looked at the P/L.
Still need to work on the tennis tho
This time next year Rodders I'll be a multi-thousandaire...
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robbiechicago
- Posts: 7
- Joined: Wed Aug 12, 2009 1:05 pm
Matrix, that's awesome work! You must be pretty chuffed with that, and rightly so. Keep it up!
I for one find the PL screen-shots very inspirational!
It also gives a reference of what should my PL be, eg I used to think that pros never looses, but seeing the minuses on some good PL's among the pluses let me understand that hey, loses are just a part of the game and it improved my results!
One can find valuable learnings in every fact based piece of information, it's just a matter of what do you do with this information.
It also gives a reference of what should my PL be, eg I used to think that pros never looses, but seeing the minuses on some good PL's among the pluses let me understand that hey, loses are just a part of the game and it improved my results!
One can find valuable learnings in every fact based piece of information, it's just a matter of what do you do with this information.
Today's best trade:
click
(trade's story: just before it driffted I actually was waiting for a one tick profit trade, but I could have felt that market is pushing the price so I've made double lay at 4.4 (closed position for one tick loss and opened new trade) and was sitting and waiting for the move to develop. I exited because the move stopped and was affraid of significant correction)
And crazy steamer, same race and horse won! Anyone jumped at that one?
click
click
(trade's story: just before it driffted I actually was waiting for a one tick profit trade, but I could have felt that market is pushing the price so I've made double lay at 4.4 (closed position for one tick loss and opened new trade) and was sitting and waiting for the move to develop. I exited because the move stopped and was affraid of significant correction)
And crazy steamer, same race and horse won! Anyone jumped at that one?
click
