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.This can show how thevital statistics can dramatically vary from month to month.It is importantthat your trading psychology is developed so that one bad trade, one badday, one bad week, or one bad month does not send you into a tailspin orinto paralysis.Learn from the good trades and from the bad trades, and use yourrecord keeping to do that.Observation is the tool that scientists and doc-tors use to develop giant discoveries and breakthroughs in their work.Youare not different, you may be reviewing your records and have one of thoseaha! or eureka! moments that may change the future of your trading.Em-brace these moments and cherish them.By doing so, you are likely to havemore of them to come.Monthly Trade Ledger for January 2007,15 Percent GainLet s start by reviewing the monthly trading ledger for January (seeFigure 12.2).This was one of the most profitable months of the year, andideally, we would like to replicate these results as often as possible.Hereare the eight vital statistics for the month of January:1.Win ratio: 46 percent2.Payoff ratio: $1.91 win to $1.00 loss3.Commission ratio: 14 percent of gross profits go to commission4.Largest winning trade: $2,009.145.Largest losing trade: ($475.86)6.Average winning trade: $468.94 P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to comeUsing Trade Posting Cards and Ledgers 107MONTH OF LEDGERJANUARY 07TradersCoach.com The Trader s Assistant A Trade Posting and Record Keeping SystemMONTHLY TRADE LEDGERRUNNINGWEEK # TRADES # WINNING # LOSING GROSS $ P/L COMMISSION $ NET $ P/L NET $ P/L1 8 5 3 3435.00 (83.26) 3351.74 3351.741-012 15 6 9 85.00 (199.10) (114.10) (3237.64)1-083 11 7 4 1225.00 (148.42) 1076.58 4314.221-154 12 3 9 (450.00) (170.14) (620.14) 3694.081-225 0 0 01-29TOTALS: 46 21 25 4295.00 (600.92) 3694.08LARGEST WINNINGLARGEST WINNING AVERAGE WINNINGTRADE POSTING$$ 2009.14 002 07 468.94TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:LARGEST LOSINGLARGEST LOSING AVERAGE LOSING$ (475.86) TRADE POSTING 043 07 $ (246.14)TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:NOTES:15% gain for the monthPayoff ratio: $1.91 to $1.00Win ratio: 46%111802 Copyright © 2002 by TradersCoach.com, Inc.FIGURE 12.2 Student Monthly Trade Ledger for January 2007, 15 Percent Gain. P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to come108 A TRADER S MONEY MANAGEMENT SYSTEM7.Average losing trade: ($246.14)8.This month s profit/loss on trading account: 15 percent profitWhat we learn from a significantly profitable month is the areas ofstrength we can work on duplicating.Here s a quick analysis of what wecan learn from this monthly trade ledger:Win ratio is 46 percent for this month, much higher than the annual ra-tio of 39 percent.This confirms that the direction we want to continuein is to increase the win ratio.Payoff ratio is $1.91, right on target for the annual average.Commission ratio is 14 percent for this month.That is much lower thanthe annual commission ratio of 25 percent.The month of January had one of the largest winning trades of the year,with a profit of $2,009.We will take a look at the trade posting card forthis trade later in this chapter to identify what characteristics of thistrade we want to duplicate.No big news with regard to the average win and average loss they areon target with the annual average.Big news on the profit of 15 percent on the trading account for thismonthThe observations for the month of January will be useful and will leadus to look further at the winning trade of $2,009.Monthly Trade Ledger for June 2007,12 Percent LossNow let s look at the most challenging month of this year, June (see Figure12.3), where there was a loss of $2925.80.Here are the eight vital statisticsfor the month of June:1.Win ratio: 24 percent2.Payoff ratio: $1.803.Commission ratio: n/a4.Largest winning trade: $1,335.525.Largest losing trade: ($460.83)6.Average winning trade: $560.807.Average losing trade: ($311.43)8.This month s profit/loss on trading account: 12 percent loss. P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to comeUsing Trade Posting Cards and Ledgers 109MONTH OF LEDGERJUNE 07TradersCoach.com The Trader s Assistant A Trade Posting and Record Keeping SystemMONTHLY TRADE LEDGERRUNNINGWEEK # TRADES # WINNING # LOSING GROSS $ P/L COMMISSION $ NET $ P/L NET $ P/L1 0 1 (375.00) (10.86) (385.86)1 (1340.16)6-14 0 4 (900.00) (54.30) (954.30)6-42 6 2 4 637.50 (68.78) 568.72 (771.44)6-113 4 1 3 (937.50) (54.30) (991.80) (1763.24)6-184 14 4 10 (1025.00) (137.56) (1162.56) (2925.80)6-255TOTALS: 29 7 22 (2600.00) (325.80) (2925.80)LARGEST WINNINGLARGEST WINNING AVERAGE WINNINGTRADE POSTING$ 1,335.52 171 07 $ 560.80TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:LARGEST LOSINGLARGEST LOSING AVERAGE LOSING$ (460.83) TRADE POSTING 176 07 $ (311.43)TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:NOTES:Loss for the month: (12%)!! I need to call Ben !Payoff ratio: $1.80 to $1.00Win ratio: 24%111802 Copyright © 2002 by TradersCoach.com, Inc.FIGURE 12.3 Student Monthly Trade Ledger for June 2007, 12 Percent Loss [ Pobierz caÅ‚ość w formacie PDF ]
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.This can show how thevital statistics can dramatically vary from month to month.It is importantthat your trading psychology is developed so that one bad trade, one badday, one bad week, or one bad month does not send you into a tailspin orinto paralysis.Learn from the good trades and from the bad trades, and use yourrecord keeping to do that.Observation is the tool that scientists and doc-tors use to develop giant discoveries and breakthroughs in their work.Youare not different, you may be reviewing your records and have one of thoseaha! or eureka! moments that may change the future of your trading.Em-brace these moments and cherish them.By doing so, you are likely to havemore of them to come.Monthly Trade Ledger for January 2007,15 Percent GainLet s start by reviewing the monthly trading ledger for January (seeFigure 12.2).This was one of the most profitable months of the year, andideally, we would like to replicate these results as often as possible.Hereare the eight vital statistics for the month of January:1.Win ratio: 46 percent2.Payoff ratio: $1.91 win to $1.00 loss3.Commission ratio: 14 percent of gross profits go to commission4.Largest winning trade: $2,009.145.Largest losing trade: ($475.86)6.Average winning trade: $468.94 P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to comeUsing Trade Posting Cards and Ledgers 107MONTH OF LEDGERJANUARY 07TradersCoach.com The Trader s Assistant A Trade Posting and Record Keeping SystemMONTHLY TRADE LEDGERRUNNINGWEEK # TRADES # WINNING # LOSING GROSS $ P/L COMMISSION $ NET $ P/L NET $ P/L1 8 5 3 3435.00 (83.26) 3351.74 3351.741-012 15 6 9 85.00 (199.10) (114.10) (3237.64)1-083 11 7 4 1225.00 (148.42) 1076.58 4314.221-154 12 3 9 (450.00) (170.14) (620.14) 3694.081-225 0 0 01-29TOTALS: 46 21 25 4295.00 (600.92) 3694.08LARGEST WINNINGLARGEST WINNING AVERAGE WINNINGTRADE POSTING$$ 2009.14 002 07 468.94TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:LARGEST LOSINGLARGEST LOSING AVERAGE LOSING$ (475.86) TRADE POSTING 043 07 $ (246.14)TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:NOTES:15% gain for the monthPayoff ratio: $1.91 to $1.00Win ratio: 46%111802 Copyright © 2002 by TradersCoach.com, Inc.FIGURE 12.2 Student Monthly Trade Ledger for January 2007, 15 Percent Gain. P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to come108 A TRADER S MONEY MANAGEMENT SYSTEM7.Average losing trade: ($246.14)8.This month s profit/loss on trading account: 15 percent profitWhat we learn from a significantly profitable month is the areas ofstrength we can work on duplicating.Here s a quick analysis of what wecan learn from this monthly trade ledger:Win ratio is 46 percent for this month, much higher than the annual ra-tio of 39 percent.This confirms that the direction we want to continuein is to increase the win ratio.Payoff ratio is $1.91, right on target for the annual average.Commission ratio is 14 percent for this month.That is much lower thanthe annual commission ratio of 25 percent.The month of January had one of the largest winning trades of the year,with a profit of $2,009.We will take a look at the trade posting card forthis trade later in this chapter to identify what characteristics of thistrade we want to duplicate.No big news with regard to the average win and average loss they areon target with the annual average.Big news on the profit of 15 percent on the trading account for thismonthThe observations for the month of January will be useful and will leadus to look further at the winning trade of $2,009.Monthly Trade Ledger for June 2007,12 Percent LossNow let s look at the most challenging month of this year, June (see Figure12.3), where there was a loss of $2925.80.Here are the eight vital statisticsfor the month of June:1.Win ratio: 24 percent2.Payoff ratio: $1.803.Commission ratio: n/a4.Largest winning trade: $1,335.525.Largest losing trade: ($460.83)6.Average winning trade: $560.807.Average losing trade: ($311.43)8.This month s profit/loss on trading account: 12 percent loss. P1: a/b P2: c/d QC: e/f T1: gc12 JWBK182-McDowell April 25, 2008 16:15 Printer: Yet to comeUsing Trade Posting Cards and Ledgers 109MONTH OF LEDGERJUNE 07TradersCoach.com The Trader s Assistant A Trade Posting and Record Keeping SystemMONTHLY TRADE LEDGERRUNNINGWEEK # TRADES # WINNING # LOSING GROSS $ P/L COMMISSION $ NET $ P/L NET $ P/L1 0 1 (375.00) (10.86) (385.86)1 (1340.16)6-14 0 4 (900.00) (54.30) (954.30)6-42 6 2 4 637.50 (68.78) 568.72 (771.44)6-113 4 1 3 (937.50) (54.30) (991.80) (1763.24)6-184 14 4 10 (1025.00) (137.56) (1162.56) (2925.80)6-255TOTALS: 29 7 22 (2600.00) (325.80) (2925.80)LARGEST WINNINGLARGEST WINNING AVERAGE WINNINGTRADE POSTING$ 1,335.52 171 07 $ 560.80TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:LARGEST LOSINGLARGEST LOSING AVERAGE LOSING$ (460.83) TRADE POSTING 176 07 $ (311.43)TRADE OF THE MONTH: TRADE OF THE MONTH:CARD #:NOTES:Loss for the month: (12%)!! I need to call Ben !Payoff ratio: $1.80 to $1.00Win ratio: 24%111802 Copyright © 2002 by TradersCoach.com, Inc.FIGURE 12.3 Student Monthly Trade Ledger for June 2007, 12 Percent Loss [ Pobierz caÅ‚ość w formacie PDF ]