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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (2125)1/5/1998 8:21:00 PM
From: Ira Player  Read Replies (2) of 12617
 
Irby,

I've been asleep for awhile. Hope all has been well.

Just a comment on improving trading. Engineers tend to look at statistics more than most people. Hope this doesn't bore you.

I still mainly position trade, easing into day trading. However, I intend to keep statistics in the same manner because I feel these are better indicators than raw bottom line.

1. WIN/LOSS ratio - Simply wins divided by losses.
2.a Maximum % gain - What is the best I've done in the time period.
2.b Average % gain - Arithmetic average of all winning trades in the time period.
2.c Median % gain - Gain of the middle winning trade, sorted by % gain.
3.a Maximum hold for gains - Longest winning hold in the time period.
3.b Median hold for gains - Hold of the middle winning trade, sorted by hold time.
3.c Minimum hold for gain - Shortest winning hold in the time period.
4.a Maximum % loss - What is the worst I've done in the time period.
4.b Average % gain - Arithmetic average of all loosing trades in the time period.
4.c Median % gain - Loss of the middle loosing trade, sorted by % gain.
5.a Maximum hold for loss - Longest loosing hold in the time period.
5.b Median hold for loss - Hold of the middle loosing trade, sorted by hold time.
5.c Minimum hold for loss - Shortest loosing hold in the time period.

Focusing on making 1, 2(abc) larger and 3(abc), 4(abc) and 5(abc) lower are less emotionally taxing than looking at the monthly statement.

Becoming more proficient at selecting winners improves number 1.
Becoming more proficient at selecting candidates improves numbers 2 and 3.
Becoming more disciplined at accepting the fact that an error has been made and should be rapidly accepted and realized improves 4 and 5.

Enjoy the new year.

Enjoy the ride.

Ira
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