Best day..

April 23rd, 2008 by eyal | Filed under Day Trading. | Print This Post Print This Post

You know the drill ;-) Not sure what’s up with this month but it’s certainly an unusual one.

Other possibly related posts:

« Putting money to work
links for 2008-04-24 »

10 Responses to “Best day..”

  1. Mike | 23/04/08

    awesome. maybe you should increase your position size and leverage this streak.

  2. John | 24/04/08

    nice job!

    now i’m getting jealous!

  3. oonr7 | 24/04/08

    congrats… but some details (even stock symbols) would be great. I understand your superstitions but you’re obviously thinking about your readers when you post about your ‘best days’ but don’t you think some analysis of your trades is what your readers might be looking for as well?
    BTW… your daily links kick ass.

  4. eyal | 24/04/08

    Mike - I’ve been increasing my R size but recently started getting more slippage so I’ve put it hold for a while.

    John - thanks.

    oonr7 - I’m sure what my readers would like to see is how I select stocks, where I enter them, where my stop is, where I exit, and how much money I put into each. I’m also sure readers of your blog would like to see this as well :-)

    I’ve included symbols and R results daily for every single one of my trades for about 2 years on this blog. My trading style hasn’t actually changed that much, I still trade the daily gappers using maoxian’s dummy style, based on his archive of 4 months of trades.
    Lastly, this isn’t a ‘how to trade’ site but just a window into my world. Some posts might be useful for some and others not at all.

    Thanks for the feedback.

  5. oonr7 | 25/04/08

    Not sure what you mean but I do show exactly where I enter and exit trades on the charts I post. I don’t share exact risk size (in dollar amount) as I don’t feel that’s pertinent info, but I do share % of risk per trade. Maybe you took offense to my comment… I don’t know, but as a reader and a trader in what is a difficult profession you would think that you could shed some light or analysis on your trades. Just as I post charts and answer any and all comments regarding my style of trading I just figured you could do the same. Guess not. You posted quite extensively about your recent drawdown and you’ve been doing well lately (all those ‘Best Day’ posts prove that) so I figured I’d ask for some detail on what’s making the difference. Guess not again. I didn’t realize how taboo my question would be.

    You seem to have the attitude that you give enough on the blog (haven’t seen a chart nor analysis since I started reading this blog) and don’t need to share more. That’s completely fine, you don’t need to share but don’t make it seem like you’ve shared so much in the past and just recently stopped.

    Lastly, sorry to assume that this ‘window into your world’ mostly pertained to trading. And, sorry that I asked a question regarding your trading style. I mean, as I look around your blog it’s just so obvious to me that ‘trade talk’ is just a very small percentage of what you write about. Maybe I should apologize for the sarcasm while I’m at it.

    Honestly, I think you’re probably scared to analyze your trades because you feel you’ll lose your edge. Ohhhh…. guess Maoxian’s lost his edge too since he’s shared so much info. I should probably not post charts either because the 200 daily visitors a day might just suddenly take the same exact trade I take every day and kill my edge. Whatever dude. We’re talking billions of shares traded per day, thousands of stocks and countless ways to trade.

    But hey… thanks for being so helpful.

  6. Andrew | 25/04/08

    Must be a cracking month with 3 best ever days..

    25 R?

    Putting that sort of money into long term investments is sooo… responsible..

    Time for a few more flat screen monitors maybe? :)

  7. eyal | 28/04/08

    oonr7 - I could address each point in your comment but at the end of the day it makes no sense to me going back and forth on what a blogger chooses to publish on their blog or not. Thanks again for visiting all this time despite the lack of charts.

    One thing I do think is interesting to discuss though is what is: ‘edge erosion’ and what can cause it. Maybe I’ll start another post for that.

    Andrew - yeah it’s a good month, around 40R or so. The month isn’t over yet so it could go down or up. Great idea, maybe if I double my monitors again I’ll get to 80R next month.. LOL

  8. Andrew | 28/04/08

    Good show Eyal, assuming that’s 20% per month return it’s fun to do some compounding scenario’s on that.

    I haven’t had a month quite like that in R terms, though it seems you haven’t either.

    Eyal would be interested in how you monitor your edge, or if you even bother with that? As long as you are regularly hitting E highs then it’s an academic concern to a point.

    I’ve sort of found what I was always looking for in terms of trading, presently hitting E highs on 40% of days which is just heaven compared to my early years in trading which was mostly swing related (14 day av hold times and the like).

    Day trading has it’s advantages.

  9. eyal | 28/04/08

    Andrew - I had one month last year with a little better R result. I probably won’t repeat these type of figures again till next year :-)

    I don’t really use any sophisticated edge monitoring. I check daily, weekly and monthly graphs and numbers (total R, win rate and expectancy) using stocktickr.com

    The number one clue to the deterioration of the edge early this year was that despite the fact that the graphs didn’t look that bad and in R terms the drawdown was very small, the win rate on the other hand dropped dramatically to about half the normal rate. Over a period of a few weeks that shouldn’t happen if the edge is still there.

    40% of days hitting new E highs sound like very good result to me. I don’t think I am close to it. I would guess you must have a much better win rate than me.

    Day trading certainly has lots of advantages, particularly in 2 important areas: risk reduction and compounding.

  10. Andrew | 28/04/08

    Eyal,

    Agreed about the compounding, risk I suspect is less as well.

    I think the two keys to E highs are trade frequency and profit factor, then you can work on the math about how often you should be printing new highs.

    Yes my win rate is higher than yours, though with a smaller win/loss ratio which is often the trade off.

Share Your Thoughts