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loosing days and instrument selection
http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=46&t=1987
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Author:  r33gmd [ Mon Sep 09, 2013 3:53 am ]
Post subject:  loosing days and instrument selection

You have had a loosing day so far this month, do you simply ignore the day you have lost, or do you try and figure out why price went against you and how you can avoid it next time?

Also when choosing an instrument to trade, other than a signal/price action definition what do you look for?

Thanks again
R33GMD

Author:  wrbtrader [ Mon Sep 09, 2013 6:35 am ]
Post subject:  Re: loosing days and instrument selection

r33gmd wrote:
You have had a loosing day so far this month, do you simply ignore the day you have lost, or do you try and figure out why price went against you and how you can avoid it next time?

Also when choosing an instrument to trade, other than a signal/price action definition what do you look for?

Thanks again
R33GMD


Hi,

I'm a veteran trader and loosing trading days no longer impact how I trade going forward after the losing trading day. In contrast, early in my trading career it did bother me...I would trade "cautiously" for a few trading days until I got my confidence back.

I rarely look back at a losing trading day or losing trade unless something odd or unfamiliar occurred in my trading routine involving the trade.

I use an easy routine to select my trading instruments. I test my trade strategy on all available products I have access too. I then only follow the trading instruments that my methods performed the best on. After that, I just follow those core groups of trading instruments every year and will only review the list of trading instruments I follow when volatility has changed on a consistent basis...prompting me either add a new trading instrument to my "follow list" or to just remove the trading instrument that has consistently crappy volatility. Next, I don't care which one of the trading instruments in my "follow list" that gets a trade signal on any given trading day...if I see the trade signal...I trade it. If I miss a trade signal (I miss a lot because of my personal life)...no biggie because there's always another trading day.

Thus, I don't get married to any particular trading instrument especially when its volatility becomes low when another trading instrument volatility is increasing. I'll go where the action is at and that's the trading instruments with increasing volatility.

Regards,
M.A. Perry

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