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Home » global trading

global trading

Resolve one of the most common barriers to trading success

July 28, 2013 by Stuart Young Leave a Comment

What are your barriers to trading success ?

Many new traders can easily get caught in the trap of focusing more on their winning percentage (accuracy) or entry setups, rather than having a balanced approach to their overall trading system, thereby creating common barriers to trading success.

There are many aspects to successful trading which are equally important and must not be neglected, including risk/reward ratio (generally making more on your winning trades than you lose on the losing trades), trade management, money management, etc.
Another critical, yet often overlooked aspect is, knowing the system you’re trading actually has a positive edge/positive expectancy (please note a positive edge is not simply having an accuracy rate greater than 50%).

Remember trading is an odds-based endeavour and traders are continually challenged by the prospect of making decisions in the face of uncertainty. As a trader, we must therefore place our trades based on a trading plan/system which has a proven edge (positive expectancy) and learn to think in terms of probabilities.
The importance of this statement must not be underestimated!

However every day, many traders put their hard earned money into the markets WITHOUT even knowing their system truly has a positive expectancy or worse still, not even trading to a documented and properly back tested trading system/plan.

  • This is a clear barrier to your trading success!

“We look to enter where the outcome is unknown BUT the odds are in our favour”
— Davin Clarke

As Davin’s quote above indicates, trading is a business of dealing with probabilities, not certainties, and traders must train themselves to think in terms of probability for a very important reason:
Individual trades are not predictable. However, we can achieve a level of predictability in the outcome of a series of trades when you have an edge.

Mark Douglas (in his book, “Trading in the Zone”), calls this….
Paradox: Random Outcome, Consistent Results

It’s the ability to believe in the unpredictability of the game at the micro level and simultaneously believe in the predictability of the game at the macro level that makes a trader effective and successful at what they do.

~ Mark Douglas, Trading in the Zone

So, how do you make the probabilities work for you?

  • Trade ONLY When You Have A Positive Edge !

But what does this actually mean?

Ask yourself the following question…
“What is my System Expectancy, also referred to as your “Trading Edge” (average $ return per trade) for the trades I’m currently placing in the market“?

If you’re unable to answer this question, this may be one of your key barriers to trading success and indicates that you are either:

  1. Not recording your trading results at all,
  2. Not analysing the results of your recorded trades, or
  3. Are unsure how to calculate these values

In any case you need to take action in order to track your trades and analyse your results…

ACTION STEP: Consider creating your own spreadsheet to record your trade results, and at a minimum, record data to derive the following figures:

  • Accuracy (Winning Percentage)
  • Average Win (Net $)
  • Average Loss (Net $)
  • Losing Percentage
  • Risk/Reward Ratio
  • Expectancy ($ per trade)

If your unable to create such a spreadsheet, or looking to record and analyse your trading to a deeper and more detailed level, consider using an existing Trading Journal product such as “Trading Journal Spreadsheet®”
http://www.GlobalTradingTools.com/view/TradingJournalSpreadsheet/

If creating your own spreadsheet but unsure how to calculate the expectancy of your trading plan, below is the formula:
Expectancy ($ per trade) = (Win% x Ave Win) – (Loss% x Ave Loss)

This expectancy value tells the trader how much money they would expect to win on average, per trade, however, to get a clear picture of your system expectancy you really need to aim for an absolute minimum of 100-200 trades, but the more the better. Use a product such as NinjaTrader ‘Market Replay’ functionality to speed up the initial back testing of your plan, however after completing initial back testing, you then need to trade your system in a demo or simulation account to confirm you’re able to replicate the back tested results on live markets.

Only after these steps have been successfully completed, should you then consider trading in a live account (using your own capital), starting with small trade sizes.

An example:
If you have an accuracy rate of 55% (Win%), with your Ave Win being $280 and your Ave Loss being $140 …

Step 1:
We have a 55% probability of winning $280 and therefore, a 45% probability of losing $140

Step 2:
Expectancy ($ per trade) = (Win% x Ave Win) – (Loss% x Ave Loss), therefore …
= (55% x $280) – (45% x $140)
= 154 – 63
Expectancy ($ per trade) = + $91

If these were your trading statistics over a large sample size then your system would certainly have a positive expectancy, and therefore a positive edge.

If the trader of the above figures placed 100 trades (applying their trading plan with consistency and discipline) they would expect, on average, to make approximately $9,100 over 100 trades.

The real results of course will not be exactly the same (perhaps a little more or a little less) however if the edge that produced the above system statistics was applied by the trader consistently and with discipline, then over a 100 trade sample, they would expect, on average, to earn around $9,100.00

If however, the trader does not apply their edge with consistency and discipline, for example by taking “ad hoc” trades, entering earlier than defined triggers, not following trade or money management rules or failure to hold to targets while the premise for the trade is still intact, then it is extremely unlikely the trader will be consistently profitable over the long run…. which after all is what we’re really aiming to achieve.

Key points to remember:

  • Ensure you have a documented AND back-tested trading plan which shows a clear positive expectancy over a large number of trades.
  • Ensure you have clearly defined money management (eg % risked per trade) and trade management rules within this plan.
  • Trade your trading plan/system with consistency and discipline.
  • Take your losses at pre-determined stop levels, and while the premise for your trade is intact, let your trades run to pre-determined target levels (Risk/Reward ratios)
  • To get a clear picture of your system expectancy you need an absolute minimum of 100-200 trades, however the more the better!
  • If your trading plan does not show clear positive expectancy then no amount of trading psychology, or anything else for that matter, will help in the long run…  remember this is an odds based industry.
  • trade ONLY when you have an identifiable, proven positive edge!

Thank you and good trading.

Stuart Young

 

RISK WARNING:
You understand and acknowledge that there is a high degree of risk involved in trading securities, currencies/foreign exchange and/or derivative products. Trading securities, currencies/foreign exchange and/or investment in derivatives can be very speculative, involves considerable risk, may result in losses and is not suitable for every investor. Global Trading Tools does not take into account the objectives, financial situation or needs of individual users. Hence, You should carefully consider whether trading in securities, currencies/foreign exchange and derivative products is appropriate for You in the light of your financial circumstances. You should be aware that dealing in products that are highly leveraged carry significantly greater risk than non-geared investments such as share trading. As such, You could both gain and lose large amounts of money. You may sustain losses in excess of the moneys You initially deposit and also in excess of the margin required to establish and maintain any positions in leveraged products.
No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any form of media (including but not limited to web sites, email, print or banner advertising, social media sites and/or Global Trading Tools affiliates) by Global Trading Tools.
The past performance of any trading system or methodology is not indicative of future results.

 
THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY.

Filed Under: Trading Psychology Tagged With: barrier to trading success, barriers to trading success, expectancy, expected value, global trading, global trading tools, mark douglas, stuart young, system, trade, traders, trading, trading in the zone, trading success, trading tools

Easy Load ASX installer for NinjaTrader

June 21, 2013 by Stuart Young Leave a Comment

Managing your Australian Securities Exchange (ASX) stock portfolio is easier than ever before.
You won’t believe how easy it is to now view ALL of your favorite ASX stocks in NinjaTrader !

NinjaTrader is a free to use, leading charting platform, packed with functionality and used by traders worldwide. The “Easy Load” ASX installer adds to this great product by automatically loading, and fully configuring well over 2000 Australian stock codes (ASX).
 

 
Our unique one-step installer combined with NinjaTrader, provides an extremely cost effective way to manage your investment decisions.
We’ve taken out all the time and effort of manually updating and mapping each ASX code to multiple data suppliers.

NinjaTrader with the “Easy Load” ASX installer will suit Investors and SMSF who want to chart their investments, Technical Analysts (there are over 100 technical indicators available), self-directed Traders and anyone that wants a great value trading platform and an extremely cost effective way to manage your investment decisions.

Just 3 simple steps …

  1. Download NinjaTrader’s free to use charting platform;
  2. Install the “Easy Load” ASX installer; and
  3. Connect seamlessly with ANY of the supported data providers
    (including: Interactive Brokers, eSignal, & barchart.com ASX data feeds)
‘Easy Load ASX’ Feature Comparison (Click to enlarge)
Easy Load ASX Installer - Feature Comparison

 

It’s that easy, plus you’ll also receive 4 instructional videos to get you started if you’re new to NinjaTrader… all for the one low price of only $39 – No more to pay!

 

For more information, please visit…

www.GlobalTradingTools.com/software/easy-load-ninjatrader/

Thank you and good trading.

Stuart Young

 

Filed Under: Global Trading Tools Product Releases, Global Trading Tools Product Updates, New Trading Products, Trading News Tagged With: asx, asx ninjatrader, easy load, global trading, global trading tools, import stock symbol list, import stock symbols ninjatrader, import symbol list ninjatrader, import ticker ninjatrader, importing asx stocks ninjatrader, importing symbol list ninjatrader, install, installer, load asx stocks ninjatrader, ninjatrader, trading tools

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Scott P., Range Research Group (United States)

Love the Moving Average Cross indicator...email and alerts are great. I'm using it and I am going to suggest it to our group. I like your work as it is clean and has needed parameters.
Global Trading Tools
2014-03-20T01:50:18+10:00
Love the Moving Average Cross indicator...email and alerts are great. I'm using it and I am going to suggest it to our group. I like your work as it is clean and has needed parameters.
https://www.globaltradingtools.com/testimonials/scott-p-moving-average-crossover-indicator-review/

Anne-Marie S, Adelaide

The GTT video library is a fantastic resource and great value for money. There are so many videos and they are really in depth so you really get a great feel for the subject matter. The video reviews of students’ trades are very useful and consolidate the learnings from the other videos. Also Stuart is extremely helpful and professional to deal with. I highly recommend the video library.
Global Trading Tools
2017-01-17T19:00:41+10:00
The GTT video library is a fantastic resource and great value for money. There are so many videos and they are really in depth so you really get a great feel for the subject matter. The video reviews of students’ trades are very useful and consolidate the learnings from the other videos. Also Stuart is extremely helpful and professional to deal with. I highly recommend the video library.
https://www.globaltradingtools.com/testimonials/anne-marie-s-trading-videos/

Jim C. (USA)

I just updated to the latest version [Ultimate Moving Average Indicator] with the "background color change" (per my request LOL) and added to one of my charts... all I can say is LOVE IT... LOVE IT.... LOVE IT. Thank you and your programmers for all the hard work
Global Trading Tools
2017-12-15T13:16:21+10:00
I just updated to the latest version [Ultimate Moving Average Indicator] with the "background color change" (per my request LOL) and added to one of my charts... all I can say is LOVE IT... LOVE IT.... LOVE IT. Thank you and your programmers for all the hard work
https://www.globaltradingtools.com/testimonials/moving-average-indicator/

Ronald J. (USA) October 2017

RE: Moving Average Crossover Indicator for NinjaTrader. Your product looks outstanding!
Global Trading Tools
2017-12-15T13:30:04+10:00
RE: Moving Average Crossover Indicator for NinjaTrader. Your product looks outstanding!
https://www.globaltradingtools.com/testimonials/ronald-j-ma-alert-indicator-2017/

John Saraga, USA

Hello Stuart I purchased this great indicator [Ultimate Moving Average Cross Alert indicator for NinjaTrader], and I just want to say thank you. This is a really good indicator.
Global Trading Tools
2016-04-16T13:05:45+10:00
Hello Stuart I purchased this great indicator [Ultimate Moving Average Cross Alert indicator for NinjaTrader], and I just want to say thank you. This is a really good indicator.
https://www.globaltradingtools.com/testimonials/j-saraga-moving-average-indicator/

Toto (NinjaTrader Forum)

I needed the listing/codes of all the US equity markets and after much review purchased his Easy Load USA. It is a great product at a fair price. His website had many testimonials of his support. I have to agree, he is on top of it... If you want to access the power of NT across all instruments... you need those instrument definitions in your instrument manager and that is exactly what Easy Load does. Well done Stuart. Click for full NinjaTrader forum post
Global Trading Tools
2014-03-20T02:48:45+10:00
I needed the listing/codes of all the US equity markets and after much review purchased his Easy Load USA. It is a great product at a fair price. His website had many testimonials of his support. I have to agree, he is on top of it... If you want to access the power of NT across all instruments... you need those instrument definitions in your instrument manager and that is exactly what Easy Load does. Well done Stuart. Click for full NinjaTrader forum post
https://www.globaltradingtools.com/testimonials/toto-ninjatrader-forum-20140319/

Matt Cave (via Twitter) @MatthewCave

For anyone that wants to use NinjaTrader to chart ASX shares, I highly recommend using the Easy Load ASX installer by Global Trading Tools.
Global Trading Tools
2014-03-02T12:12:50+10:00
For anyone that wants to use NinjaTrader to chart ASX shares, I highly recommend using the Easy Load ASX installer by Global Trading Tools.
https://www.globaltradingtools.com/testimonials/matt-cave-easy-load-asx-ninjatrader/

Ivan B., Australia

Man - that is great support ... thank you Stuart - many traders are in the position I am in ... I am certain that if you give this kind of REAL help, your business can not help but prosper. Thank you heaps
Global Trading Tools
2014-03-02T12:14:33+10:00
Man - that is great support ... thank you Stuart - many traders are in the position I am in ... I am certain that if you give this kind of REAL help, your business can not help but prosper. Thank you heaps
https://www.globaltradingtools.com/testimonials/ivan-b-great-support/

Robert H., Australia

The video library is awesome mate… so many good videos on there!
Global Trading Tools
2015-03-06T19:16:42+10:00
The video library is awesome mate… so many good videos on there!
https://www.globaltradingtools.com/testimonials/robert-h-australia/

Andrew K.

Thanks very helpful great product. Appreciate your help (RE: Easy Load ASX)
Global Trading Tools
2015-04-16T11:58:45+10:00
Thanks very helpful great product. Appreciate your help (RE: Easy Load ASX)
https://www.globaltradingtools.com/testimonials/easy-load-asx-review-andrew-k/

Gordon K., Australia

RE: Easy Load ASX... Thanks for the follow up Stuart. Compliments on your product.It was very handy and made my job so much easier :)
Global Trading Tools
2014-03-12T22:06:46+10:00
RE: Easy Load ASX... Thanks for the follow up Stuart. Compliments on your product.It was very handy and made my job so much easier :)
https://www.globaltradingtools.com/testimonials/gordon-k/

John K., Canada

Thanks for answering all my questions, and your Easy Load TSX product is awesome. Just what I needed!
Global Trading Tools
2014-09-10T12:56:28+10:00
Thanks for answering all my questions, and your Easy Load TSX product is awesome. Just what I needed!
https://www.globaltradingtools.com/testimonials/easy-load-tsx-john-k-canada/

KR

All in all its been great so far and I am learning a lot...trading for yourself is a very different ball game to trading for a major bank, and being able to learn the business from honest experienced and friendly guys is really valuable.
Global Trading Tools
2014-03-02T12:02:22+10:00
All in all its been great so far and I am learning a lot...trading for yourself is a very different ball game to trading for a major bank, and being able to learn the business from honest experienced and friendly guys is really valuable.
https://www.globaltradingtools.com/testimonials/kr-learn-honest-experienced/

Gordon W., United States

RE: Easy Load USA (NYSE/NYSE MKT/NASDAQ)... You are awesome. Thank you.
Global Trading Tools
2014-03-18T10:59:17+10:00
RE: Easy Load USA (NYSE/NYSE MKT/NASDAQ)... You are awesome. Thank you.
https://www.globaltradingtools.com/testimonials/gordon-w-united-states/

Pablo C.

… and I must say your product, Easy Load NSE is awesome. I’ve been waiting to use Ninja Trader for a long time and it is now possible. Really glad!!!
Global Trading Tools
2014-09-08T13:48:13+10:00
… and I must say your product, Easy Load NSE is awesome. I’ve been waiting to use Ninja Trader for a long time and it is now possible. Really glad!!!
https://www.globaltradingtools.com/testimonials/easy-load-nse-ninjatrader-india-pablo-c/

Mark M.

I have said in the past your subscription fees represent excellent value and the monthly fee for the Traders Boardroom plus TMR Indicator Bundle is a price I would pay just to get access to the wealth of knowledge you and Davin provide in the video library alone.
Global Trading Tools
2014-03-02T12:07:35+10:00
I have said in the past your subscription fees represent excellent value and the monthly fee for the Traders Boardroom plus TMR Indicator Bundle is a price I would pay just to get access to the wealth of knowledge you and Davin provide in the video library alone.
https://www.globaltradingtools.com/testimonials/mark-m-tmr-indicator-ninjatrader/

Sami M, Queensland

I couldn't have gotten to this point without all your help, guidance and teaching both outside and inside the boardroom. You've cut my learning curve down by years and significantly reduced the chance of me blowing up my account!! Thanks so much for everything.
Global Trading Tools
2014-03-02T12:03:30+10:00
I couldn't have gotten to this point without all your help, guidance and teaching both outside and inside the boardroom. You've cut my learning curve down by years and significantly reduced the chance of me blowing up my account!! Thanks so much for everything.
https://www.globaltradingtools.com/testimonials/sami-m-help/

Martin Hunting

I purchased GTT 'Easy Load' ASX from Stuart a couple of months ago and I had to reload the software twice as I purchased a new computer and then it crashed! Stuart's assistance each time was prompt and the software is very easy to manage. I have had no problems with the symbols that was downloaded, works very well with NinjaTrader. Moreover Stuarts videos are an excellent introduction to NinjaTrader. Great service Stuart!
Global Trading Tools
2014-03-09T15:10:48+10:00
I purchased GTT 'Easy Load' ASX from Stuart a couple of months ago and I had to reload the software twice as I purchased a new computer and then it crashed! Stuart's assistance each time was prompt and the software is very easy to manage. I have had no problems with the symbols that was downloaded, works very well with NinjaTrader. Moreover Stuarts videos are an excellent introduction to NinjaTrader. Great service Stuart!
https://www.globaltradingtools.com/testimonials/martin-hunting/

KR, New Zealand

I really value how you and Davin keep reiterating the basics....stick to the setups, trade when the structure is in your favour but the outcome is unknown, trade the edges, to keep the risk tight and hence achieve good risk to reward. this keeps me focussed on the basics which I must repeat day after day.
Global Trading Tools
2014-03-02T12:05:01+10:00
I really value how you and Davin keep reiterating the basics....stick to the setups, trade when the structure is in your favour but the outcome is unknown, trade the edges, to keep the risk tight and hence achieve good risk to reward. this keeps me focussed on the basics which I must repeat day after day.
https://www.globaltradingtools.com/testimonials/kr-nz-reiterating-basics/

Lance B, Queensland

Re: Easy Load ASX installer for NinjaTrader The process was nice and simple. My backup Ninja now has ASX stocks loading through Yahoo.
Global Trading Tools
2014-03-02T12:10:38+10:00
Re: Easy Load ASX installer for NinjaTrader The process was nice and simple. My backup Ninja now has ASX stocks loading through Yahoo.
https://www.globaltradingtools.com/testimonials/lance-b-easy-load-asx-ninjatrader/

Ant B., United Kingdom

Just want to thank you for your continued support and advice. I appreciate it.
Global Trading Tools
2014-03-02T11:58:13+10:00
Just want to thank you for your continued support and advice. I appreciate it.
https://www.globaltradingtools.com/testimonials/ant-b-continued-support/

Adam F., Victoria

the topic on congestion to expansion... that’s been GOLD.
Global Trading Tools
2014-03-02T11:59:56+10:00
the topic on congestion to expansion... that’s been GOLD.
https://www.globaltradingtools.com/testimonials/adam-f/

Don K., Queensland

I always get lots from your presentations. What you show us, saves a massive amount of time in trial and error, so is very helpful.
Global Trading Tools
2014-03-02T12:06:18+10:00
I always get lots from your presentations. What you show us, saves a massive amount of time in trial and error, so is very helpful.
https://www.globaltradingtools.com/testimonials/don-k/

Mark M. (Australia)

There is no doubt you and Davin are the real deal and very open and honest with everything, so much appreciated!!
Global Trading Tools
5
2015-04-16T11:49:10+10:00
There is no doubt you and Davin are the real deal and very open and honest with everything, so much appreciated!!
https://www.globaltradingtools.com/testimonials/mark-m-australia/

Sami M, Queensland

the info you guys are providing is invaluable!
Global Trading Tools
2014-03-02T12:01:02+10:00
the info you guys are providing is invaluable!
https://www.globaltradingtools.com/testimonials/sami-m-invaluable/
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