OK, point taken on your desire to trade short term. But you do mention: “I believe the people who can beat the S&P each year make their money for a good reason and its not easy to do.” I suspect that many/most of those who can/do beat the S&P on a realistic basis - with acceptable fills and slippage - are not scalping! However I respect your objectives and desires in this speculative arena. With your other long term investments, I can understand you wanting a short term diversification.
Proposed scale for intratrade drawdown as % of total portfolio.
0-1% = low
1-3% = normal
3-5% = high
5-15% = extreme
>15% = reckless
thoughts?
Pal,
I have to agree with what MK and every other sane person here has posted - UNrealized drawdowns ARE significant data points for subscribers to use in evaluating systems, and your posts ARE longwinded, not related to trading, and DO make the forums unreadable. I wish the forums had a feature like newsreaders have that lets you auto-kill or auto-hide posts from specific posters (hint to Matthew). No offense meant, but you are killing us.
BTW, it may need some tweaking of specifics, but that new risk meter is surely a step in the right direction - excellent!
W
Has anyone noticed that it takes no account of trade size?
I had a small trade with at total drawdown of some $130 that finnaly netted $27 - given an extreme rating because the pip drawdown was large.
I was looking at another vendor whose drawdown was over $15,000 who finally netted $18, but because his pip drawdown was small his trade was given a modest rating.
Hi Randy,
I like your attitude (although I hasten to add it’s not mine!).
If you check out Market Wizards and New Market Wizards by
Jack D Schwager you’ll find interviews with professional traders,
very short term to long term, fundemental to technical and mechanical to dicretionary.
All are worth over $100 million.
I think it’s hard to find a good trader over any time period!
David … I’ve read the Market Wizards books and there certainly are some hugely successful traders out there. But none of them are offering trading systems on C2 (so far anyway). If I see Bruce Kovner offering a system here I’ll sign up!
Yes Robert, I agree, it’s crazy and misleading.
Paradoxically, the new feature will draw the attention on least realistic systems. Those notorious system that no one can follow, because they call trades near tops and bottoms and you never get a fill on winning trades.
Why is this new column taking so much place on the web page? I don’t care at all about the new (non-)information it is supposed to bring, but I have lost the P/L per trade column! I don’t want to have to dig into every trade to get these crucial figures!
MK, I did notice on Forex systems that the P/L column of the system details now appears to show PIPS (although it expresses it in dollars) - is that change intentional?
Jerome, doesnt the “Cash” column give you want you want (dollars gained/lost per trade), e.g. what used to be in the P/L column?
I agree that the “risk” feature needs some work but if you ignore that and just look at the numeric details that are provided I think it is a fantastic addition to C2.
No that’s a bug which will be fixed in the next 15 minutes probably.
Jerome:
Are you complaining that the column makes the table bigger by a significant enough amount that your screen can’t display the entire table without scrolling?
I didn’t get it was pips instead of $, sorry.
What about the issue with rounded forex calculations turning winners into losers on my track record? (Risk-averse FX)
Best regards,Jerome
P.S. : I didn’t intend my posts to sound cynical. The new column is very interesting by itself. Only the appreciations like “high”, “extreme”, “modest” sound a little bit subjective. I guess the new concept is here to help the novices, not to convince the professionnals. In that perspective, MK has made a very helpfull job. Thanks to him.
