Hello Nathan. Are you using Tradezella? If so, how has it helped you? I signed up on BF deal. Do you incorporate it in your trading plan once long to not give back gains and motivate you to grow your account and free up $ for next set up? Sometimes I sit with size in winner too long just focusing on broker P & L total not going red and miss new set ups. Thanks
I like how you can see your profits as a % of your account rather than a $ amount as I try to never look at $ gains. Just don’t think it helps me mentally.
I have realised that the % calculation isn’t a rolling measure at the moment though and is calculated from your initial deposit amount so will have to reset that each month (just an fyi in case it was something you were looking to use).
I think the journaling has helped. Helped me to better recognise when I’m having a poor run and need to back off. As it’s more visual than just thinking back.
Think your stats can help you recognise what you do best at as a trader as well. You will likely notice a pattern in your holding periods/average gain etc for your winners. So if your average winner is held for 30 days for example then it probably doesn’t make much sense to be selling new positions after 5 days.
Then you may find that your losses are too big relative to your gains.
Hi Nathan, do those monthly results include RKLB or are just realized gain/losses?
Realised only. So won’t include open profits in RKLB.
Hello Nathan. Are you using Tradezella? If so, how has it helped you? I signed up on BF deal. Do you incorporate it in your trading plan once long to not give back gains and motivate you to grow your account and free up $ for next set up? Sometimes I sit with size in winner too long just focusing on broker P & L total not going red and miss new set ups. Thanks
I am Dave.
I like how you can see your profits as a % of your account rather than a $ amount as I try to never look at $ gains. Just don’t think it helps me mentally.
I have realised that the % calculation isn’t a rolling measure at the moment though and is calculated from your initial deposit amount so will have to reset that each month (just an fyi in case it was something you were looking to use).
I think the journaling has helped. Helped me to better recognise when I’m having a poor run and need to back off. As it’s more visual than just thinking back.
Think your stats can help you recognise what you do best at as a trader as well. You will likely notice a pattern in your holding periods/average gain etc for your winners. So if your average winner is held for 30 days for example then it probably doesn’t make much sense to be selling new positions after 5 days.
Then you may find that your losses are too big relative to your gains.
Plenty of useful information in your statistics.