This is part one of a multi-part blog entry that deals with how you can use the gathering of statistics to improve your trading results.
I am a discretionary trader and I use my discretion to enter and exit my trades. However, I trade from within a structure so I can know what to expect and so I can achieve the consistency required.
My structure involves a maximum loss per trade, evaluating risk per trade and estimating the first logical scal out point of a multiple scale out strategy. The result of this is what I have trade marked as Dynamic EL Risk and Money Management (TM). Why have I trade marked it? Because I will be talking more about it and I don't want it to be distorted and regurgitated by others leaving out any of its important qualities.
OK, it's dynamic. This means that it has a methodology but no written in stone metric absolutes.
So what do you collect and how can it be useful? Is it realistic? These are the things we will explore and explain in subsequent parts of this post.
So what do you collect and how can it be useful? Is it realistic? These are the things we will explore and explain in subsequent parts of this post.
Hello Boss,
ReplyDeleteOkay I give up....
I thought to myself, self, there must be a
reason Master EL has posted the same chart
3 times. If there is I can't find it.
Forever your student,
Rino
Ps Besides I do not even think it is your chart but Kiki's (Hello Kiki)
Rino, I guess it was because I was just so proud of the trades that day. Thanks. Correct chart posted now.
ReplyDelete