Weekly Trading Review – 10-14 April 2017
Summary of Performance
Overall a flat week, had a few problems with the auto triggers and the systematic side of the trading.
The trades where overall grade A, in terms of process and entry. Not a lot of follow through on the entries.
What did I do best this week and how I did I do it?
Followed my process, incorporated a new process that tells me when I should dump or reduce risk on trade based on a conflicted signal.
This worked well, but need to remain focused after this as sometimes that the conflicted signal becomes a solid signal again which I then can re-entry or increase risk once again.
As some of the areas of interest can be quite wide, I have done a study on my winning trades and also the MFE and MAE of the last 400 signals of the winning trades.
I have focused on the MAE (Maximum Adverse Excursion), basically how far a winning trade goes off side. This has enable me to come up with some guidelines on how to scale in to trade.
Normally when I get a signal on the edge of a wide zone, and then typically, sit down through a draw down period in that trade, or wait for a secondary signal deeper in the zone to get my position on.
I prefer to wait for the secondary signal, but these guidelines will enable me to scale in whilst keeping my risk under control, and also enable me to at least get some of the position on and not miss out on the signal.
Of course the smaller levels will not need this approach as the risk is easier defined and I either enter blind on a test or on signal as long as my R:R to the next area is 1.5.
Also I find that only checking my P/L at the weekends rather than at the end of the day, helping immensely with the amount of emotion involved with individual trades, and more importantly my response to it.
Since Jeffageddon, this side of my trading has improved immensely. I am not going to pretend that this is still not a work in progress but I am trading better on this side.
What did I do badly this week and what lead me to do it?
Started to get a few doubts with my signals during the week, something seemed off. They seemed to be not triggering when they should and triggered when they should not.
At first I thought it was just because of the week leading up to Easter. On closer inspection, the triggers where hitting the criteria but not working. Turns out that when I updated the platform, the triggers had reverted to an much earlier version. So I have updated my process to check these triggers are using the latest version if I update or revert to a restore point on RT Investor.
This is not a criticism of RT Investor, I end up going to a restore point quite regular due to my ability to poorly code a trading system or custom study which ends up in a circular reference point which causes RT to spit the dummy.
I am very much, learning on the job when it comes to RTL language, definitely not my strong point but I am getting better.
But the plus side of using the auto triggers, I have learnt more about when to employ them, and the MAE study has also given me a better understanding of when to use the aggressively and conservatively.
One project, I am working on this weekend is my tracking of statistics of my trades.
Not looking at the P/L makes it difficult to keep my trade journal up to date.
As one does not have to be brain of Britain, to know ones P/L , when entering the trades into the journal. I used to enter each trade after exit, I then moved to, entering at the end of the day.
But as I am now only looking at the end of the week, this makes keeping the journal up to date a major pain.
As entering the relevant information takes a lot longer than before, as I have to look up all the entries for the journal, before when I was doing it day to day, I knew all the information from memory.
I need to work on how to streamline this journaling, so that it does not become a major task.
Secondly, the move to a systematic approach with a focus on context means that my setup based journal is not really tracking the correct performance metrics. I need to re prioritise what information I need to track and then re jig the journal to reflect that.