Is there a way to have this compatible with sub 1 dollar stocks? Whenever I use this on penny stocks shorting, it automatically enters me even if it is not at my entry price, I notice its on sub 1 dollar stocks. So maybe the entry doesnt work for mutliple decimal place entries? example tried to short at .153 today on vtgn, i set my entry and it fills me at .159 before ever hitting my entry
It's quite personal because it depends on your strategy. Aiman did a video recently where I think he suggested 3 consecutive green months in sim though.
However, in terms of win rate or certain R that depends on your strategy. For example Thor has a target of like 4R (although is mostly always higher) and his success rate is well above 70% I believe. Aiman has a lower success rate but his R per trade is quite a bit higher.
In general terms there's two main things that will cause you to fail 1) a bad system 2) you don't follow your system (when it's good). Deal with the system first, trying to do both in live is what causes a lot of traders pain in the early days. Therefore you should be comfortably green but you should set that for yourself, like 50R per month 100R it's up to you.
For me the biggest thing with going live too early is the psychology changes when real money is on the line so you really, really, really need to trust your system to help you not fall for the impulses of not adhering to it. If you don't trust it explicitly then you start stopping out early (or not at all and blow up), taking profit too quickly etc thereby the whole premise of your system falls over. The only way to do it is to prove it to yourself that it works. Imo it's one of the biggest reason new traders bleed money in the beginning, it takes a lot out permanently while other persevere through it and give themselves a chance to become successful.
thanks a lot for your reply! I agree, this forum doesn't look to active any more. 😞
What would you consider a or some reasonable KPI to achieve in sim before going live? I think of something like getting green, a certain avg P&L / day, a certain win rate, a certain R rate or how successful my strategies are?
Also thanks for pointing me into direction of the journaling video, will definetly check it out.
Hello Has this script been released? I am looking for this one and will pay for it. I short stocks and I keep R fixed and add in the money + move my stop, 3 to 4 times. It would be amazing if i could execute with the hot key instead of doing the calculations in excel then manually entering. Thank you!