Average number of trades per day

This is a discussion on Average number of trades per day within the Indices forums, part of the Markets category; Hi, I am trying to find out whether I have a tendency to overtrade. If you day trade Eminis, can ...

View Poll Results: What is the average number of your trades per day?
0-5 39 55.71%
6-10 15 21.43%
11-20 7 10.00%
21-30 2 2.86%
31 or over 7 10.00%
Voters: 70. You may not vote on this poll

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Old Jun 16, 2004, 10:46pm   #1
 
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Average number of trades per day

Hi,

I am trying to find out whether I have a tendency to overtrade. If you day trade Eminis, can you please indicate your average number of trades per day? Thank you.
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Old Jun 16, 2004, 10:55pm   #2
 
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I've often heard that there are 1-3 good opportunities a day in ES, but that would probably apply to those looking for at least 2-3 whole ES points per trade. A scalper might take twelve halves, a swinger one six and a Frugi minus ten :-) But judging by your past posts and skill at picking bottom/tops 2 to 4 trades would perhaps seem about right IMVHO?

Or, to be frightfully trite, you are only overtrading if you are disobeying your system, allowing impatience to conquer discipline or otherwise feeling an urge to be "in the market" depite a lack of obvious signal to be so.

I have a suspicion you're doing just fine as u are :-))
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Old Jun 16, 2004, 10:57pm   #3
 
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Maximum of 1 per day per market for me.

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Old Jun 16, 2004, 11:00pm   #4
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Over trading is when you are over committed and get a margin call.
Under trading is not being committed enough in order to take full advantage of the move.
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Old Jun 17, 2004, 12:21am   #5
 
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clylbw started this thread Many thanks indeed.

Hi frugi,

I am trying to find out whether my strategy is right. For example, sometimes it may be more profitable to trade the pullbacks while other times it may not. By this poll I hope to figure out whether I need to adjust my strategy by comparing my number of daily trades with others.
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Old Jun 17, 2004, 1:03am   #6
 
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matey my average is 3-4 per day counting a reversal trade as 1. if u count that as 2 it'd be 7-8
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Old Jun 17, 2004, 1:23am   #7
 
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Hi clylbw,

Sorry I'm an idiot I initially failed to notice the poll above, d'oh!

Perhaps the poll needs to have more choices below 1-5?...don't mean to be rude.

A discretionary system is hard to pin down. You can choose to be nimble, for instance try to trade every pullback as well as following the main trend, or you can be supremely patient, taking one trade "per trend" as it were, and stick it out to the bitter end. The success of either choice will ultimately depend on your management of the trade(s) and the market.

But of course it is not as black and white as this. You are a skilled discretionary trader who will trade according to your view of the conditions. Sometimes your view will bring forth one trade, others three. You can't change the market but you can address the way you manage your trade(s).

Whether you are overtrading comes down to whether you are adhering to the rules that make you comfortable, relaxed, assured and of course money. Do not judge your trade frequency (which forms an integral part of your whole system, rather than being a separate "Am I doing this right" measure) by that of others. Trade frequency should be a natural result of your entry and exit criteria, risk, targets etc. rather than be judged in its own right.

Some adore constantly scalping for teenies, some love sitting on their hands most of the time and occasionally grabbing fifteen points. Some are clever enough to do both, if they are confident in their market interpretation and can adapt a system to conditions without breaking its principal rules.Your method and personality will determine your approach far more than we can.

Five trades a day it is then :-)

Really must apologise if any of this sounds patronising or brusque by the way...it's just me typing away :-)

Despite all my waffle, the result of the poll will be interesting - nice one clylbw.

Last edited by frugi; Jun 17, 2004 at 2:07am.
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Old Jun 17, 2004, 9:26am   #8
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Lynn,

I though that you had become a darksider and as such was not subject to the problems associated with overtrading ?

Also I agree with some of the above comments in that you have restricted the number of trade choices too wide in my view. For example everyone who doesnt trade will tick the 0 to 5 box and yet I would guess that most traders fit into the same category. This may give a false impression of what you are trying to determine.


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Old Jun 17, 2004, 10:05am   #9
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Screen monkey scalpers will do 100's in a day but this would not be classed as over-trading, quite the contrary as there tends to be a direct correlation between volume and PnL. I think the definition of over-trading is very different for different disciplines.
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Old Jun 17, 2004, 10:51am   #10
 
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Hi Lynn,
If you are talking about pullbacks in trends and under/over trading them, then the essence is:

a) Time scale - there are more trend pullbacks to find on 3 min bars than on 60 min bars. Stop range will also need to be much wider the longer the time period.

b) Number of trends intra day in the chosen time scale - a market that sells off steadily in the morning, flat lines at lunch time and reverses back up in the afternoon would have two good trends to find pull backs on. A market that ranges cleanly between say, two pivots levels, can be traded on the mini trends on a smaller time scale several times.

In other words, it is the quality and frequency of the moves which should dictate the number of trades in intra day trading.

Best wishes,
Richard
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