Maximum profit?

This is a discussion on Maximum profit? within the General Trading Chat forums, part of the Reception category; Let's look at the experienced traders here. We each have a system that gets us in and out at the ...

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Old Jun 21, 2017, 9:58am   #1
Joined Feb 2002
Maximum profit?

Let's look at the experienced traders here. We each have a system that gets us in and out at the right times. Risk control is in place, money management is fine, we've got past emotional trading and we're making some money. And this through consistent planned trades, not lucky windfalls or tips.

But isn't there a higher level? Can we reach it? How can we make the MAXIMUM profit from whatever we're doing? And I mean maximum, not just another decimal on the r:r, not just another ten quid by waiting just one more candle.

How are you doing it?
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Old Jun 21, 2017, 10:18am   #2
 
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Originally Posted by tomorton View Post
Let's look at the experienced traders here. We each have a system that gets us in and out at the right times. Risk control is in place, money management is fine, we've got past emotional trading and we're making some money. And this through consistent planned trades, not lucky windfalls or tips.

But isn't there a higher level? Can we reach it? How can we make the MAXIMUM profit from whatever we're doing? And I mean maximum, not just another decimal on the r:r, not just another ten quid by waiting just one more candle.

How are you doing it?
Interesting. Some years ago I used to have a performance measure based on the percentage of the move gained. Subsequently I got into a lot of trouble trying to get more out of each trade.

After a while I realised that individual trades were only important in the context of their contribution to my bottom line and it was that which required the greater attention. Thus, I no longer chase for more out of each trade but take what I need to keep my bottom line healthy. I'm not averse to taking more but I look on that as a bonus.

Since maximising profit by taking more out each trade is not open to me the only way is increased position size. I haven't got the balls for that and always come a cropper when I up the stakes too much.
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Old Jun 21, 2017, 10:38am   #3
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tomorton started this thread Cheers jon. I actually came to where I am through the opposite route. I used to let my bottom line manage the trades but I did find so many of them would have gone into the money or more ITM if I had let them. Same risk, but accepting it for a longer period.

Now I'm thinking of both increasing position size but also doubling up on winners. There's a "Double Position" button on my SB platform I'm dying to click.
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Old Jun 21, 2017, 10:46am   #4
 
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I see it like a journey from a - b. Does it matter much if you're going 30 or 50 mph?
If you increase size for any reason other than an increase in your acc, you're increasing risk. Which isn't necessarily a problem if you are aware of and accept that additional risk.
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Old Jun 21, 2017, 10:53am   #5
 
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Originally Posted by tomorton View Post
Cheers jon. I actually came to where I am through the opposite route. I used to let my bottom line manage the trades but I did find so many of them would have gone into the money or more ITM if I had let them. Same risk, but accepting it for a longer period.

Now I'm thinking of both increasing position size but also doubling up on winners. There's a "Double Position" button on my SB platform I'm dying to click.
If the SB has a button for it then it's got to be to their advantage rather than yours . Also why so many of them default to a 5 minute chart
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Old Jun 21, 2017, 11:23am   #6
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good question

reaching for higher performance and better results is a necessary challenge we must place on ourselves to try to improve..... but always to be tempered with understanding market dynamics

eg its no use saying we must do better when the market has been very adverse to the systems we employ ............no one system will match all market dynamics

personally I find these days its 1 step forwards and 1 step back ........i tend to average out ok most days and go with the flow ..........

sure i try to learn something new every day and currentyl am working with some new private trading groups on systems completely foreign to what i use on a daily basis ...........its very enlightening but wont necessarily lead to better trading systems for me ...........but who knows

so im not going to lose sleep if i dont improve on current stats...........

therein lies the probable area we all need to work on ............managing the Ego/emotions and learning to go with the flow .........its all about playing the long game and getting those sample sizes up to the high numbers needed to prove one has an edge

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Old Jun 21, 2017, 3:34pm   #7
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My philosophy is "take what the market will give". Less turns out to be more.
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Old Jun 22, 2017, 12:46am   #8
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Hi Tom,
Do you know any professional traders socially in the the real world (as in not via the Web)?
I have found associating and socialising with real world proprietary directional traders opens your mind in ways nothing else can. For me personally just one of the benefits I found was not to be scared of size and to be open and flexible as to when real size is put on, instead of your usual risk.
I think it's a little bit of being desentasized to some aspects of size and rules at some particular times.

Another thing I will do is to pyramid hard early on in a new trend trade to the point to which a break even trade is by far the most likely scenario but a win is well over sized for my account size. So I tend to get an even(ish) loss to b/e ratio @ 1-2% risk. And then a minority of longer term trend trades going a lot further in price at a much heavier weight than the 2% loss or b/e.
This style is not easy and not for everyone because most people require a higher win ratio.

Last edited by Jason101; Jun 22, 2017 at 1:07am.
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