Wednesday, February 24, 2010

A Loss! *GASP*

First loss of the week this morning... 7 ticks fixed as always. But within 15 minutes I was back in black on the day. Then I followed the early morning action with some awesome trades into the afternoon. I got stopped out by a tick from getting a +20 tick runner (I walked out with +7 instead) but it was just one of those kind of fluke things where I got a 5 tick wide bar on a 4 tick range bar chart. OEC calculates their range bars differently from TradeStation and NinjaTrader and doesn't use "fake ticks" to fill in and create new bars so occasionally 5 tick bars can occur. No big deal... I took a kick ass trade and managed it perfectly. A nice move in the Swissy capped off the day with a solid +9.

All the other trades were just pars, but unlike anytime before pars aren't a commission loss. Each par I take I take a tick of profit out of the market so not only am I covering commission expenses but i'm adding (albeit very tiny) to my account balance with each non performing trade. You think it doesn't add up over time but it really really does. This week alone i've had 10 par trades with a gross profit total of $86.25 Without taking that tick of profit my account would suffer a $54.50 loss from commission expenses. This way i'm sitting pretty with $31.75 worth of additional profit which isn't much, but its a $140.75 swing in profitability!

Trade Results:
8 Trades, 1 Loss, 4 Wins, 3 Pars
Gross P/L: $203.75/per


E-Mini Player said...

Are you back on the Live account?

Matt said...

Unfortunately no... money is in que waiting to clear... should be live next week for sure.

However, I have made sure that all of my fills, management, etc... are as realistic as possible. I only have the margin for one trade at a time so every trade I take is the only trade open at once in sim. Trying to keep things IDENTICAL to my live performance possibilities.

But until next week, practice, practice, practice!

Risk Control Master said...

Which broker do you use?