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Jim Dean

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Posts: 3022

Joined: 9/21/2006
Location: L'ville, GA

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Subject : Net Net Summary of trades, with Risk & exit info
Posted : 2/10/2014 9:31 AM
Post #30861

I've a suggestion for something that would help the website, and possibly that you might want to include mention of occasionally each day. This would be helpful for all "featured focus" plugin Trading Lab sessions in the future, not just RTX3.

The recap of the trades shown on the website is a great start, but is difficult to quickly evaluate, since the cost of trading and net gain loss is not shown, nor is the risk taken on each trade (as a percent). This is basic to risk management, which is a key to trading success.

I suggest that you add two columns: one showing the "Risk" = Fixed loss delta vs entry as a percent (to compare to the net percent gain/loss from the trade), and another to show what kind of exit was taken ... Fxdloss, Brkeven, trailing profit, or discretionary. This helps give a feel for how effective the Trade Plan is.

Also, I'd suggest you show the number of shares purchased, based on a small account size ($25k), and the commission cost, and the net gain/loss after those two things are factored in. This is a CONSERVATIVE view of the viability of what's going on ... which is not only a good training tool, but also is a great recap of how successful the methods you are teaching have been.

If you want to take it one step further, duplicate those three columns (shares, commissions, net true PL) also for a medium sized account ($100k).

For each day, a total should be provided at the bottom for all the columns. Also, I'd suggest a summary of those columns (including number of trades and Win/Loss ratio) for each WEEK.

I hope you and others find this helpful.

[Edited by Jim Dean on 2/10/2014 9:34 AM]

Deleting message 30861 : Net Net Summary of trades, with Risk & exit info


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