Should I Stop or Should I Go?
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So, would really like others opinion on this.
After starting trading when all my matched betting accounts got restricted about 12 months ago, have mainly spent the last year going up and down, constantly analysing the data, coming up with strategies blah blah.
I even had my own very complicated spreadsheet to pick selections on the football (very much like the BTC Football Software) until I discovered BTC, and what a revelation it has been.
It has allowed me to get some clearly defined strategies and stop messing about trying to change them all the time (particularly after a losing day).
I want to start being regimented with my trading and have a starting bank and am thinking that I will stop trading each day once I have hit a target profit of 1% of my bank and adjust the target on a monthly compounded basis.
Whilst I have got my mind set to follow the strategies and don't deviate (even after a losing day, of which hopefully there wont be many!). I started this "stopping at 1%" last Monday and have made it every day since (9 consecutive days including today). My problem is that each day I identify a number of potential trades/set & forgets etc (25 today for example), and today I have made my 1% with the first two. So I have 23 possibilities that I am not going to trade. How the hell does one stop thinking, "I should carry on, thats more money I am giving away by not doing them".
I am finding this difficult, given that in order to monitor the strategy success, I have to look at the results of those identified trades which I haven't done and makes me feel bad, when I could of won more. Obviously the opposite is also true if I would have lost, I'm smiling.
Edited - obviously writing this made me think, so I went back and checked from the beginning of October, although the strategies are not exactly the ones I am using today, but as a comparison, I would of identified 783 opportunities, if had done them all would of lost 1.3 points, If I had stopped at 1% profit per day (which is also 1 point), I would of made 38.5 points on 286 trades, with 5 losing days (23pts, 8pts, and 3 less than a point) out of 39.
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@greg-mitchell Can I watch them do that?
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@greg-mitchell a post it note will do
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Thanks for the replies @Ryan and @Martin, much appreciated. I'm gonna continue with the stopping for a while, but think in the long run I won't need to, the strategies look solid (so far
) and therefore why should I stop.. I'm just a bugger for not being able to hack the losing days and thinking my strategy is wrong.Just off to the tattoo parlour to get "Stick to the Plan" tattooed on the inside of my eyelids... ouch!
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Hey buddy!
Soooo I will just add to M's podcast and tell you what I do.
I don't thinkI'd be stopping at 1%, especially if the data told me it was more profitable.
For me I am trying to get the most out of my trading for the least work when I have a profitable strategy.
It looks as though you have a strategy that's profitable, I would go for it and keep tracking it. If the trend continues the great
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@greg-mitchell this should help I did a podcast that talks about how many strategies to trade, this is a very similar question to the one you are asking: https://www.buzzsprout.com/1516057/11543411
