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Superpips

Discussion in 'Personal Trade Journals' started by Lerakas Libra, Oct 6, 2007.

  1. Lerakas Libra

    Lerakas Libra Private

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    Superpips week of Oct 1

    After practicing demo trading as recommended I went Live and experienced all the differences between demos and life accounts like posted in other threads on this forum.
    Today MT4 tells me which trades I opened and closed and the results.
    But there is something missing in these fancy reports.
    They are not measuring the Quality of my trading-week.
    So I asked myself:
    How do I have to act to improve the results of my trading?
    (This must be each traders daily morning question.)

    At this point, since manually keeping track of these statistics is very time consuming, I started to develop a semi-automated statistical technique which I'm using now for some time. It reports me the "super pips" that where there during the day summarized for the week and the duration of each "super trade" and much more.
    And at the end of the week it measures the "quality" of my weekly live trading in percentage of those "super trades".

    My findings where telling me not only that I closed almost every trade to early ( As is told us in every decent handbook for traders, in the market) but also how much to early in hours and minutes. It learned me also that most of the best trades are NOT trend following.(Be careful with this one!)
    This started to effect my trading style by saying:

    The longer Y'e wake, the better the take.

    Since 75 % on this forum is trading GBPUSD according to the poll , I will like to share these results and give interested traders the opportunity "quality" testing their results.

    During the week from Okt 1 - okt 5 om GBPUSD M30 chart there where 23 super trades (1 lot CAR) With a total profit of 1647 pips.

    I ,myself ,made a loss off 33 pips over that week which is -2 %
    In the week before I made a profit of 264 pips on 19 trades which was 13,6% of that weeks "super trades" (30 trades,1lot size, 1941 p)

    Since we can't trade 120 hours a week and we all know that a 100% is not possible and hardly relevant, do we have to keep in mind that superpips were developed to create an easy and standardized way to measure our improvement over time.

    And finally I admit that I optimized the statistics to fit my own trading style, Although the weekly superpips are not influenced by that.


    See you next week.
     
    #1 Lerakas Libra, Oct 6, 2007
    Last edited: Oct 14, 2007
  2. Lerakas Libra

    Lerakas Libra Private

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    Superpips Week of Oct 8

    GBPUSD: there where 15 supertrades (CAR) during the week
    lotsize 1 total profit 1339 p. The duration on average was 7 hours.
    The most profitable trade gained 218p in 20.5 hours.
    The trades above average gained 85 % of the weekly profit.

    Dividing your results in GBPUSD first by your average lot size, and then by the superpips for this week you can measure the quality of your weekly trading.

    Percentages between 10 and 20 % are common as I learned of other GBPUSD-traders.

    Personally i did not trade because of the results the week before.
    Taking a break for a while with totally hedged positions.

    Se u next week.
     
  3. Lerakas Libra

    Lerakas Libra Private

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    Superpips as of week oct 15

    GBPUSD: there where 13 supertrades (CAR) during the week
    lotsize 1 total profit 1225 p. The duration on average was 8:16 hours.
    The most profitable trade gained 168p in 18:30 hours.
    The trades above average gained 62 % of the weekly profit.
    Dividing your results in GBPUSD first by your average lot size, and then by the superpips for this week you can measure the quality of your weekly trading.


    Personally I made 205 p ( Which is 16.7% of the supertrades) when I resumed trading on Friday after the break.

    Se u next week.
     
    #3 Lerakas Libra, Oct 20, 2007
    Last edited: Oct 26, 2007
  4. Lerakas Libra

    Lerakas Libra Private

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    Superpips as of week of oct 22

    GBPUSD: there where 16 supertrades (CAR) during the week
    lotsize 1 total profit 1521 p. The duration on average was 6:46 hours.
    The most profitable trade gained 259p in 27:30 hours.
    The trades above average gained 47 % of the weekly profit.

    Dividing your results in GBPUSD first by your average lot size, and then by the superpips for this week you can measure the quality of your weekly trading.


    Personally I made 126 p this week which was 8,28%

    Se u next week.
     
    #4 Lerakas Libra, Oct 26, 2007
    Last edited: Oct 26, 2007
  5. Berti

    Berti Recruit

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    1000 Pips a day

    Hello Lerakas,what are a Tradesystem.Can you tell me more from your Tradesystem.
    Best regards
     
  6. Lerakas Libra

    Lerakas Libra Private

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    Hi Berti!

    My trade system is very simple since I do not believe that sofisticated systems will perform any better.

    I use MACD(12,26,9) Stochastics(5,3,3) and Ma 14 + Ma 26 on daily basis.
    For the last months I only trade GBP/USD.

    Thats the reason I offer Superpips for the week just for GBP/USD.
    I always want an answer to the question how well I did during the week.

    Even if the result isn't so good, I want to study if there is any improvement in my trading in the long run.

    I'll be glad to answer if You have any new questions.

    Regards/ Lerakas
     
  7. Bandersnatch

    Bandersnatch Recruit

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    A Few Questions

    Hi Lerakas

    1. How do you define a "supertrade," and how do you determine which trades are "super" and which aren't?

    2. As for your system, what do you use for entry and exit criteria?
     
  8. Berti

    Berti Recruit

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    Good Morning Lerakas

    Thanks from your Answers,
    I,style my Chart from MACD:12,26,9 EMA:14,26 STOCH: 5,3,3 Timeframe 1h.
    What are you Trading,Overbought,Oversold whith EMA crosses and MACD crosses the Zero Line?
    Best regards
     
  9. Lerakas Libra

    Lerakas Libra Private

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    Hi Bandersnatch

    1. A Supertrade is a trade that could have been made made given average duration., HH and LL, and T/P >30 p.
    Average duration f e was 6:46 hours for the week of oct 22.

    It Compares what i did, to what I should have done, hopefully learning something.

    2. Entry:eek:n M5(GBP/USD) both long and short, When MA14 and Ma26 gap narrows, MACDs gap narrows and Stoch < =10 (for long) or >=90 (for short).
    This while keeping a close watch on Stoch M15 an Stoch M30.

    (This is far from perfect, but since there is no Holy Grail........)
     
    #9 Lerakas Libra, Nov 2, 2007
    Last edited: Nov 2, 2007
  10. Lerakas Libra

    Lerakas Libra Private

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    Good Morning too, Berti

    Please check my answer to Bandersnatch.

    I consider MACD crossing 0 a to slow indication, so i often take risc
    a bit earlier on Stoch M5 turning point. (close eye on M15 and M30)

    Post me if this doesn't answer your questions.

    Wishing a lucky trading day.
     

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