How many failed trades before you call it a day.

Mr Fox

Established member
510 136
As per title.

How many trades would have to fail, where you would cease trading for the day, or how much percentage loss.
 

WinnerSinner

Newbie
6 0
4% max - if each trade is 1% or less that could be 4 or more. If it's 'above 2% trade' - that's only 1 trade.

And may I ask, with all due respect ofcourse, how successful is your strategy, percentage wise ofcourse, that lets you risk 4%/day, as I would assume(probably wrongly), that on each day you have risked 4%, and if you are going for a minimum of 1:1 ratio, then that means every day you have a potential 4% return. Is this correct.
 
C

cablemonster

0 0
As per title.

How many trades would have to fail, where you would cease trading for the day, or how much percentage loss.

if i lose I just double up until it comes good. all good so far.
 

ZEN archer

Experienced member
1,528 241
And may I ask, with all due respect ofcourse, how successful is your strategy, percentage wise ofcourse, that lets you risk 4%/day, as I would assume(probably wrongly), that on each day you have risked 4%, and if you are going for a minimum of 1:1 ratio, then that means every day you have a potential 4% return. Is this correct.

I'll try my best WS
I don't trade every day. Also I tend to enter only on good set ups, so there are not many trades as I look for good set ups based on TA, FA and also pay close attention to news, reports, speeches (Bernanke etc.) etc. R/R is often worse than 1/1 depending on PA (sometimes I simply cut it if I feel I shouldn't be in) and occasionally is good. Sometimes I guess it nicely, sometimes I'm very wrong (buy tops or sell bottoms)

I risk from 0.5% up to 4% per trade - very rarely more than 3%

All that is non precise really apart from 4% loss - that is 'call it a day' loss level. BTW Most of my trades are from 1 to 2% (risk per trade)
 

WinnerSinner

Newbie
6 0
I'll try my best WS
I don't trade every day. Also I tend to enter only on good set ups, so there are not many trades as I look for good set ups based on TA, FA and also pay close attention to news, reports, speeches (Bernanke etc.) etc. R/R is often worse than 1/1 depending on PA (sometimes I simply cut it if I feel I shouldn't be in) and occasionally is good. Sometimes I guess it nicely, sometimes I'm very wrong (buy tops or sell bottoms)

I risk from 0.5% up to 4% per trade - very rarely more than 3%

All that is non precise really apart from 4% loss - that is 'call it a day' loss level. BTW Most of my trades are from 1 to 2% (risk per trade)

Thanks for your reply Zen. I really appreciate it.
😊
 

wackypete2

Legendary member
10,229 2,055
Generally, I'd give up for the day if my first 3 trades were losses. Usually that means my style is not working with that day's price movements. There's always another day just around the corner.

Peter
 
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WinnerSinner

Newbie
6 0
Generally, I'd give up for the day if my first 3 trades were losses. Usually that means my style is not working with that day's price movements. There's always another day just around the corner.

Peter

Thanks for your reply Peter😊, and may I also ask ypu how much you risk per trade.
 

NVP

Legendary member
37,768 2,101
As per title.

How many trades would have to fail, where you would cease trading for the day, or how much percentage loss.

Thats a good question and generally you will see responses around the "3 strikes and i'm out" variety...........

if you take a look at basic probability theory (which i recommend) you will know that even the best systems can easily attact a few consecutive losses before the wins reappear ......and naturally you will also get some nice strings of winners as well .....(y)

personally I just keep coming at the market as I trust my systems and to see 3 in a row is pretty rare thankfully ............

N
 

Pi3141

Active member
203 9
For me, it depends on what you're overall success rate of winning to losing trades is. If its very high then you could probably grind out a few more trades and breakeven if you've had a few losing trades early on. If your overall success rate is about 50-70% ish then after a few losing trades I'd call it a day and not risk any more. Either way its best to keep a journal with various stats to help you know how well you're doing in general and to establish averages and norms in your trading.
 

robster970

Veteren member
4,566 1,390
Somewhere between 2&3.

2 if I can tell the conditions don't favour me, 3 if I think it is me misfiring.
 

NVP

Legendary member
37,768 2,101
also as I may have commented befroe in recent threads.......if you are able to monitor the markets and gauge the increasing volatility levels you are halfway there to increasing those odds

never go fishing until the fish start biting........

N

(fish ?...........who mentioned fish)
 

robster970

Veteren member
4,566 1,390
also as I may have commented befroe in recent threads.......if you are able to monitor the markets and gauge the increasing volatility levels you are halfway there to increasing those odds

never go fishing until the fish start biting........

N

(fish ?...........who mentioned fish)

That's the difference between 2&3 for me :LOL:

Right I'm off for a golf lesson. Later.
 

timsk

Legendary member
7,605 2,377
. . .never go fishing until the fish start biting........

(fish ?...........who mentioned fish)

Hi NVP,
Speaking as an angler, I have to say your fishing analogy puts that cart before the horse and, as such, is something of a catch-22. For the fish to bite, the angler has to be fishing in the first place, lol!
;)
Tim.
 
 
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