{"id":30256,"date":"2013-08-16T14:54:19","date_gmt":"2013-08-16T18:54:19","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=30256"},"modified":"2023-04-17T11:45:22","modified_gmt":"2023-04-17T15:45:22","slug":"did-you-trade-well-part-i","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/did-you-trade-well-part-i","title":{"rendered":"Did You Trade Well? (Part I)"},"content":{"rendered":"

On Twitter I received this question:<\/p>\n

Does the success of ur day hinge on ur PnL, or proper execution? By 1 std I failed 2day, the other = success cc @<\/s>MikeBellafiore <\/b><\/a><\/b><\/p><\/blockquote>\n

@MikeBellafiore<\/strong><\/p>\n

At SMB we do not define success or failure by our P&L but whether we traded well.\u00a0At the close we do a detailed trading review of how well we traded and not how much we made. This mindset is an important distinction between the thinking of a pro trader from new trader. We are trying to get better each day, and do as well as we can. New traders are trying to make money.<\/p>\n

Let’s discuss a specific way we keep score if we traded well. In The PlayBook<\/em> I suggest that traders develop a series of A+ trades, their favorite setups, and then risk 30 percent of their intraday risk on such plays. For a swing trader you might risk 2-5 percent of your book in A+ trades. One of our developing traders calculates his Missed Profit by not being big enough each day in his A+ trades. As you can see below this trade made 1k but missed another 2k of profit.\u00a0 He could have traded this opportunity much better.<\/p>\n

\"missed<\/a><\/p>\n

While these are actual trades, I’ve reproduced them here for illustrative purposes only. But the takeaway is to consider tabulating your Missed Profit with your trading. Tomorrow I will follow up with Part II of this blog series with some more ideas to better judge your trading day.<\/p>\n

You can be better tomorrow than you are today!<\/p>\n

Mike Bellafiore<\/p>\n

One Good Trade<\/em><\/a><\/p>\n

The PlayBook<\/em><\/a><\/p>\n

\n

\"\"<\/a><\/p>\n

no relevant positions<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On Twitter I received this question: Does the success of ur day hinge on ur PnL, or proper execution? By 1 std I failed 2day, the other = success cc @MikeBellafiore @MikeBellafiore At SMB we do not define success or failure by our P&L but whether we traded well.\u00a0At the close we do a detailed trading review of how well … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":30267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2444,2449,4703,2448,2451,4706,4707,1718,653,2445,1989,4712,4690,1888,207],"class_list":["post-30256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-prop-trade","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks"],"yoast_head":"\nDid You Trade Well? 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