London Traders Network Meet-Up – this was a good event and I met a couple of interesting people – discussed futures trading, automation of strategies, backtesting, the Turtles strategy and general banter. The next one is in mid November – try to make it if you can.
Trade Management Tactics – I continued working on this all week trying to fine tune things. It’s getting there, making progress, though it ain’t finished yet.
Instrument Focus – all my trades were on DAX and Cable this week – nothing else. It meant that I was able to focus better on a much smaller number of instruments and my prep time was shortened each morning. It also meant less trades, say 17 instead of 30.
- Trades taken: 17
- Percentage valid setups: 17/17 = 100%
- 7 Winners – 2 Scratches – 8 Losers > Win Rate 7/15 – 47%
- Average Winner: 1.00 Average Loser: -0.73R Reward-Risk Ratio: 1.37
- Net Result (after trx costs): +1.14R
- Implied Strategy Edge – ~7%
- Monetary Value of R £217
- Transaction Costs 0.98R
And here are the same stats for the past 4 weeks
- Trades taken: 80
- Percentage valid setups: 75/80 = 94%
- 31 Winners – 10 Scratches – 39 Losers > Win Rate 31/70 – 44%
- Average Winner: 0.92 Average Loser: -0.61R Reward-Risk Ratio: 1.48
- Net Result (after trx costs): +4.84R
- Implied Strategy Edge – ~6%
- Monetary Value of R £207 (average)
- Transaction Costs 3.8R
I’ll continue to trade only DAX and Cable. I will continue to work on the trade management tactics. Monetary value of R increases to £243. Should also do some data analysis on EMA crossovers
Inline skating, hiking and socialising – it will be another trading-free weekend!!