2011: New Years Resolutions (trading)

trendie

trendie

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What have you learned in 2010 that you are planning to experiment with, or adopt, in the New Year, to improve your trading?
 
I've learned never to skip a signal. If the system has positive expectancy and you randomly skip signals, this will reduce performance. I don't know if this can be proved mathematically, but it has certainly been my empirical observation this year.
 
for me it's to work on my exit strategy, although its ok but theres always room for improvement. sharpen the knife so to speak,
knowing when to change my trading style when the market does, the need to be flexible in trading is a must for success
 
These are changes I've incorporated through the year that have made a difference...
Always move a stop to B/E as soon as is possible whilst taking half of trade off the table as profits - let the other half run. Its amazing how far they can go sometimes. Makes up for all the B/E stopouts.
And take all signals.
 
To stop going on threads and BB's whilst actively trading for me.
 
my new years resolution is to hit 1000 posts and be as cool as the rest of you....
 

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As someone famous said that the biggest obstacle to success in trading is human emotions, I think I'll find an ALIEN to trade for me.
 
To test 5 minute charts. I've been dabbling (again) and I may have something this time. Or I may not. :D Otherwise, continue with my current trading.

meanreversion said:
I've learned never to skip a signal. If the system has positive expectancy and you randomly skip signals, this will reduce performance. I don't know if this can be proved mathematically, but it has certainly been my empirical observation this year.
Click to expand...

Yeah, I know what you mean. It's a strange one. Logically-speaking, if 60% (arbitrary number) of your trades are profitable and you miss 30% (arbitrary number) of all trades, it shouldn't affect your overall profitability, roight!?

However, Sod's Law of Trading states, "The trades you miss are the highly profitable ones and the ones that you don't miss are the losing trades."
 
stop taking correlated positions :(, in other words to focus on eurusd rather than eurusd audusd eurjpy gbpusd nzdusd gold sp500...........
 
Chartsy said:
stop taking correlated positions :(, in other words to focus on eurusd rather than eurusd audusd eurjpy gbpusd nzdusd gold sp500...........
Click to expand...

Haha. I decided that about 3 months ago. Was going through a year's worth of trades and realised that rather than it increasing the chances of profit, it doubled the size of losses. :rolleyes:

Now, I do one swing trade per session and let the market do its thing. If there's a better move on Aussie or whatever, tough titties. So, if I see a "set up" (I don't like that phrase) on Aussie first then I'll take it and not take a corresponding "set up" if it then appears on Euro an hour later, irrespective of whether I'm in profit or loss. It's certainly made a difference as I make a note of the trades I would have taken and I note that I would be overall worse off.

The problem would be discipline - if a trader is hit by a loss, can they just walk away?
 
I'm going to be nice to all posters and stop posting scam alerts to the moderators:whistling
 
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