18/9: George’s Trading Wrap for the week

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.

Online Community – checked out TraderCast and put in a trial membership, and also starting looking at the elitetrader traders forum, which seems more useful to me than the Trade2Win forum.

Important Statistics:

  • 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

Next week

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

Weekend

Inline skating, hiking and socialising – it will be another trading-free weekend!!

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