Monthly profit /loss statistics

[TraderRavi]

No ... From march expiry means 27th mar to yesterday

then correct your post , you have written april month

 

[TraderRavi]

I tried to buy 1 lot of nifty call yesterday , exchange message came no call available , I said why , they replied vadivelu bot all calls

 

[stock72]

then correct your post , you have written april month

Yes TR ..it April ..from 27th march to 30th april ..

For option traders like us month starts the next of day of previous month expiry :rofl:

 

[Tlahuicole]

As a full time professional trader,I shall answer your question.... For any trader who treats Shares and Commodities trading as a full time business,two fundamental requirements ,that is a capital of minimum 10 lacs ( one would need at least this much for any reasonable business )and disciplined time of 9 a.m to till market closing,the profit every month,after all expenses should be around 10 % on investment.Another important requirement is to have own strategy , strict money management without taking exposure limit. And last but not the least,one should have an perfect exit strategy. Exiting the positions taken at correct time requires more skill than entering !!

Bullet to the head

 

[Tlahuicole]

Take baby steps but concentrate on consistancy, dont trade for windfall profits ( or loss it the trade fails )but steady consistant profits every month. First try to make 5-10 % then 10-15 % then 15-20 % and then even above that range in a month.

Smart_trade

Awesome ST, first hunt a mice before going for the elephant that is what a trader should be doing all the time.

 

[Tlahuicole]

Smart Trade, I have seen your other posts. Really nice. Have these scenario on profit/consistency :

1. A trader fixes 1-2 methods and trdes everyday. Sm day in profit, sm day loss. Overall month ends positive. In few months, he has many days with small losses but he sticks to the same rules. Advantage - he takes less number of trades. Disadvantage - profits are small few months are BE.

2. Trader has 4-5 rules. He tries to be profitable everyday by trading according to the scenario smtimes he misses trades coz having 4-5 rules confused him. Month ends positive. Advantage - target is to be profitable evryday so he is. Disadvantage - overtrading


Now which trader according to your experience is doing good ?

Thanks.

Iron Man,

As a full time trader I have faced such scenarios so I will let you know what I did from my beginning so that it might help someone who can fit into the scenario I came across till becoming consistent in my performance.

1st year of trading - 60% of account lost. Created a business plan and started learning about trading.

2nd year of trading - break even or slightly negative. Created a good strategy and was learning more on trading, was doing swing trading as well as day trading so wanted to specialize on one type of trading first as I wanted to become a full time trader as soon as possible, hence selected day trading.

3rd year of trading - had four good strategies and was 48% profitable. Still was not able to resist swing trading. Started a trading log which captures Scrip name, CP, SP, Profit and loss in R, Trade timing, Trade setup, comments.
As I was trading 4 setups at that time, I wrote which setup entry triggered the entry, I had stopped swing trading end of this year.
4th year of trading - Analysed last year trading log full found out that only that for my four strategies,
1st strategy - R:R is 1:1.2 Win % is 65, triggered around 4 setups a day.
2nd strategy - R:R is 1:2.3 Win % is 29%, triggered around 3 trades per day.
3rd strategy - R:R was 1:0.7 Win % is 72%, triggered around 7 trades a week.
4th strategy - R:R was 1:1.8 Win % is 70%, triggered around 5 trades a week.
I had analysed that only following 2nd and 4th strategy will form a good trading system, so decided to do the same from next year.

4th year of trading - Followed only two strategies that complemented each other very well was getting around 8 to 10 trades a week. Was constantly making above 10% every month sometimes even made above 25%.
Trading log was showing that both the systems were performing consistently, so planned on decreasing trading time, hence checked time wise revenue per month and results were surprising.

morning sessions - Winning trades % is 43
midday sessions - Winning trades % is 16
Afternoon sessions - Winning trades % is 41

Hence, decided to trade morning alone for one month and check on results, it was good for that month, next month tried trading after noon alone, results were good.

So, decided I will trade afternoon alone or morning alone for next 3 months.

5th year of trading - Trading only morning or afternoon from start of this year. Trying to improve the trading returns and learn new techniques that will improve my trading results.

So, maintaining a trading log for an year will help you greatly in reducing your work time and identifying your best strategies. Kindly consider!!!

 

[Iron_Man]

Iron Man,

As a full time trader I have faced such scenarios so I will let you know what I did from my beginning so that it might help someone who can fit into the scenario I came across till becoming consistent in my performance.

1st year of trading - 60% of account lost. Created a business plan and started learning about trading.

2nd year of trading - break even or slightly negative. Created a good strategy and was learning more on trading, was doing swing trading as well as day trading so wanted to specialize on one type of trading first as I wanted to become a full time trader as soon as possible, hence selected day trading.

3rd year of trading - had four good strategies and was 48% profitable. Still was not able to resist swing trading. Started a trading log which captures Scrip name, CP, SP, Profit and loss in R, Trade timing, Trade setup, comments.
As I was trading 4 setups at that time, I wrote which setup entry triggered the entry, I had stopped swing trading end of this year.
4th year of trading - Analysed last year trading log full found out that only that for my four strategies,
1st strategy - R:R is 1:1.2 Win % is 65, triggered around 4 setups a day.
2nd strategy - R:R is 1:2.3 Win % is 29%, triggered around 3 trades per day.
3rd strategy - R:R was 1:0.7 Win % is 72%, triggered around 7 trades a week.
4th strategy - R:R was 1:1.8 Win % is 70%, triggered around 5 trades a week.
I had analysed that only following 2nd and 4th strategy will form a good trading system, so decided to do the same from next year.

4th year of trading - Followed only two strategies that complemented each other very well was getting around 8 to 10 trades a week. Was constantly making above 10% every month sometimes even made above 25%.
Trading log was showing that both the systems were performing consistently, so planned on decreasing trading time, hence checked time wise revenue per month and results were surprising.

morning sessions - Winning trades % is 43
midday sessions - Winning trades % is 16
Afternoon sessions - Winning trades % is 41

Hence, decided to trade morning alone for one month and check on results, it was good for that month, next month tried trading after noon alone, results were good.

So, decided I will trade afternoon alone or morning alone for next 3 months.

5th year of trading - Trading only morning or afternoon from start of this year. Trying to improve the trading returns and learn new techniques that will improve my trading results.

So, maintaining a trading log for an year will help you greatly in reducing your work time and identifying your best strategies. Kindly consider!!!

Well.. kudos for the detailed post ! I myself, am FTT with a small office and a few accounts and have been in trading business for last 5 years.

The question posed above was in view of a diff style I have created recently. I have seperate a/c for diff strategies & MM. In brief, i call them scalping, positional, swing nd intra. Within them also i hv classified further based on strategies.

Long story short, I wanted to take some inputs from smart trade as he has been longer in this business than others in TJ (i guess)

Thanks for a good read though

 

[VJAY]

Iron Man,

As a full time trader I have faced such scenarios so I will let you know what I did from my beginning so that it might help someone who can fit into the scenario I came across till becoming consistent in my performance.

1st year of trading - 60% of account lost. Created a business plan and started learning about trading.

2nd year of trading - break even or slightly negative. Created a good strategy and was learning more on trading, was doing swing trading as well as day trading so wanted to specialize on one type of trading first as I wanted to become a full time trader as soon as possible, hence selected day trading.

3rd year of trading - had four good strategies and was 48% profitable. Still was not able to resist swing trading. Started a trading log which captures Scrip name, CP, SP, Profit and loss in R, Trade timing, Trade setup, comments.
As I was trading 4 setups at that time, I wrote which setup entry triggered the entry, I had stopped swing trading end of this year.
4th year of trading - Analysed last year trading log full found out that only that for my four strategies,
1st strategy - R:R is 1:1.2 Win % is 65, triggered around 4 setups a day.
2nd strategy - R:R is 1:2.3 Win % is 29%, triggered around 3 trades per day.
3rd strategy - R:R was 1:0.7 Win % is 72%, triggered around 7 trades a week.
4th strategy - R:R was 1:1.8 Win % is 70%, triggered around 5 trades a week.
I had analysed that only following 2nd and 4th strategy will form a good trading system, so decided to do the same from next year.

4th year of trading - Followed only two strategies that complemented each other very well was getting around 8 to 10 trades a week. Was constantly making above 10% every month sometimes even made above 25%.
Trading log was showing that both the systems were performing consistently, so planned on decreasing trading time, hence checked time wise revenue per month and results were surprising.

morning sessions - Winning trades % is 43
midday sessions - Winning trades % is 16
Afternoon sessions - Winning trades % is 41

Hence, decided to trade morning alone for one month and check on results, it was good for that month, next month tried trading after noon alone, results were good.

So, decided I will trade afternoon alone or morning alone for next 3 months.

5th year of trading - Trading only morning or afternoon from start of this year. Trying to improve the trading returns and learn new techniques that will improve my trading results.

So, maintaining a trading log for an year will help you greatly in reducing your work time and identifying your best strategies. Kindly consider!!!

nice ...:clapping: thanks for sharing with us Tlahuicole...you are really well planned....yes with sticking 1 or 2 methods always good and it make consistent profit ....it also avoids confussions in trade entries and sl's against more methods ...sticking to your method make too boring ...if start of feeling of boredom in trading after a reasonable winning imo its in right path...My views

 

[Iron_Man]

So, decided I will trade afternoon alone or morning alone for next 3 months.

5th year of trading - Trading only morning or afternoon from start of this year. Trying to improve the trading returns and learn new techniques that will improve my trading results.

!!

Very impressive Tlahuicole. Way to go !

 

[stock72]

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