Nowler's Trading Journal

This is a discussion on Nowler's Trading Journal within the Trading Journals forums, part of the Reception category; Originally Posted by Brumby ..I would also touch on a topic which is not discussed at all. Risk and return ...

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Old Oct 7, 2017, 6:09pm   #25
 
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Originally Posted by Brumby View Post
..I would also touch on a topic which is not discussed at all. Risk and return are tied together. If you are going after big gains you are in fact taking on more risk. What is absent from the conversation is drawdown. In evaluating returns, the performance metrics that professional investors look at is not just return but more importantly drawdown. This is the main reason why leverage is used sparingly because of its effect on drawdown. If you can achieve 30 % return with a drawdown of 15 % or less, every fund in the world will line up to engage your services. If you can deliver a smooth equity curve with limited drawdown, you can offer your signal services through copy trading. You don't need a large equity to live on trading. A good trading record can generate good income. There are many ways to skin a cat. Taking on outsized risk to grow equity is a sure way to terminate your trading ambition.
Exactly, well put brumby, brilliant thanks
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Old Oct 7, 2017, 6:18pm   #26
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Exactly, well put brumby, brilliant thanks
We should prob limit our hijacking of Nowler's thread - but leverage isn't necessarily about overexposure or insane risk - it can be used to enter multiple working orders without actually having open interest exposure and preventing dead money in that respect. I use this method to imitate collocation.
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Old Oct 7, 2017, 7:14pm   #27
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Nowler started this thread Note: If anyone wants to see my account closer, I am happy to supply the statistics that myfxbook compiles.

I just started using this and as I expected, my memory of my first few months was a little off.

At least from now on I can follow it closely...I can't believe this is free
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Last edited by Nowler; Oct 7, 2017 at 8:22pm.
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Old Oct 7, 2017, 10:30pm   #28
 
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Originally Posted by Nowler View Post
Note: If anyone wants to see my account closer, I am happy to supply the statistics that myfxbook compiles.

I just started using this and as I expected, my memory of my first few months was a little off.

At least from now on I can follow it closely...I can't believe this is free
yeah its a great free resource thanks ill have to get myself an account which can link up to it, im currently on spreadbet with city index and IG, which it wont link to.

i look forward to see you break that downward trendline one day
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Old Oct 7, 2017, 10:38pm   #29
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Nowler started this thread
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i look forward to see you break that downward trendline one day
A target for month 5 perhaps
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Old Oct 8, 2017, 4:17am   #30
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PS: I have also linked my trading account to myfxbook in order to get the actual stats of my account. Not what I perceive/remember them to be. I think this will help me a lot!
Do you still want me to further comment on whether you have confirmation and recency bias? I would suspect your FX book stats is sufficient in addressing it.
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Old Oct 8, 2017, 1:59pm   #31
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Do you still want me to further comment on whether you have confirmation and recency bias? I would suspect your FX book stats is sufficient in addressing it.
I would appreciate it, yes, sir.
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Old Oct 8, 2017, 2:11pm   #32
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Nowler started this thread Strategy Update:

I am going to try address my drawdown by reducing my trade size from 4% to 2% and with a view to add another 2% if the opportunity arises.

Since I bumped it up to 4% I have been doing well but my drawdown is too much. Hopefully by only jumping in at 2% and then adding the other 2% when in profit from the first 2% will reduce my drawdown.

Will this work?
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