Lerakas Libra
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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.
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.
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