Dear Community
Last year I started a thread called "My Daily Trading Results - Football Trading" and was posting my daily results for a temporary period of time. I realized there were some risk management changes I needed to make to the process especially considering I was seeking to increase my position sizing quite aggressively.
Anyway I restarted the journey in February 2018 and the results have been pretty consistent in terms of keeping losing days low whilst maximizing the strength of winning days.
I have attached my results since Easter and will now update on a daily basis. The objective is to show how with a decent strategy that employs specific principles from financial trading, one can make a full time living from trading. For instance on Saturday I traded the morning session and then the evening session and made just under £1000. Also made a couple of £400+ days.
However as a day trader it was important for me to find a strategy that provides a consistent level of trading opportunities every day rather than just weekends so after a tortorous process that has taken alot of years I think I have reached a level where all the stars align as far as what I believe is important for a strategy to be profitable on a weekly basis and sustainable.
Enjoy the ride.
Mel
My Daily Trading Results - Scientific Trading
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Thanks Stu410
Keeping losing days small and running winnings days as much as possible is the key.
Cheers
Mel (The Scientia Trader)
Keeping losing days small and running winnings days as much as possible is the key.
Cheers
Mel (The Scientia Trader)
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- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Good luck with it, not sure I'd be playing some of the leagues and games like u23's if you want liquidity and consistency.
You are obviously punting fairly large sums, with a view to greening up 'IP' - those results on those particular markets wouldn't be possible pre-match.
Good luck, but you need to make sure that you don't let the red mist descend after a couple of large losses
Good luck, but you need to make sure that you don't let the red mist descend after a couple of large losses
10th April 2018
Net P/L = £459.70
£459.70 profit for today. To top it off I missed the Hearts Youth vs St Johnstone Youth which was on my scanner. The match was originally timed as being a 19:45 kick off but it started at 18:00 so didn't realize until late and just as I was about to trade it a goal scored on 83mins. So missed out on an additional £150 or so.
Net P/L = £459.70
£459.70 profit for today. To top it off I missed the Hearts Youth vs St Johnstone Youth which was on my scanner. The match was originally timed as being a 19:45 kick off but it started at 18:00 so didn't realize until late and just as I was about to trade it a goal scored on 83mins. So missed out on an additional £150 or so.
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- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
MIght help if you showed the actual trades rather than the profit. I can't see a youth match having any real liquidity to trade so more than likely you're just placing speculative bet.
11th April 2018
Net P/L = £168.30
£168.30 profit for today but I am going to retire even though I have a possible trade later because mentally not in a good place. The REAL vs Juventus game I closed the trade at price of 1.06 for a £70 loss believing it would go to ET and then Madrid scored in the 97th.
Net P/L = £168.30
£168.30 profit for today but I am going to retire even though I have a possible trade later because mentally not in a good place. The REAL vs Juventus game I closed the trade at price of 1.06 for a £70 loss believing it would go to ET and then Madrid scored in the 97th.
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12th April 2018
Net P/L = £233.04
£233 profit for yesterday. I was fast approaching my daily maximum loss and so took a 5:1 risk to reward ratio on my final trade of the day and it saved the day.
Net P/L = £233.04
£233 profit for yesterday. I was fast approaching my daily maximum loss and so took a 5:1 risk to reward ratio on my final trade of the day and it saved the day.
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- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Well done, who says chasing doesn't pay.
Be kind to him mate, he won't be here for long
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
These 'risk:reward' ratios are meaningless without knowing the chance of pulling it off. You can't escape value.
If a player/team will go +10 or -2 ticks if X or Y happens, you still need to know how likely X & Y are. A big gain vs a small loss is still a losing setup if the gain scenario is as rare as hens' teeth. Volatility is the mechanism that determines the r:r ratio, but you still need to outperform it, and know when it's likely to occur.
Starting with a bank of £5.000 according to his website , and "risk management and discipline are crucial".I'm going to take your advice and be kind,and make no comment about what his P/L is saying. Deep breath....
http://www.scientiatrading.com/intro.htm
Great question.
All this is explained for those with the willingness to search for me online or on twitter. Not going to disclose all fundamentals in a forum message.
By the way the win rate is 55% and average reward to risk is 1.8:1
Put that into a monte carlo simulation over 125 occurrences and see the equity curves.
Point of this is exercise on the forum is to simply provide daily results.
Thanks
Mel (The Scientia Trader)
All this is explained for those with the willingness to search for me online or on twitter. Not going to disclose all fundamentals in a forum message.
By the way the win rate is 55% and average reward to risk is 1.8:1
Put that into a monte carlo simulation over 125 occurrences and see the equity curves.
Point of this is exercise on the forum is to simply provide daily results.
Thanks
Mel (The Scientia Trader)
- ruthlessimon
- Posts: 2094
- Joined: Wed Mar 23, 2016 3:54 pm
I'd just like to add, Shaun's post is absolutely spot on.
& again, this is how "non-traders" get away with complete murder. Yes, money management is vital, if you have an edge/positive expectancy/"value".
Taking a 5:1 trade, with no edge - is just as bad as taking 1:5 trade, with no edge.
& here's where the false educators slip up - if you push them further ("do you even trade Mr/Miss. X") - then you realise just how shallow they are behind their "theories".
The hardest bit about trading, is getting the edge that fits your personality/goals. The 0 expectancy gap is small, but 95% can't break through it.