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Confused In Advancing in Gold II

 
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jawells1928

Confused In Advancing in Gold II

Been in Gold II at least 15 months. How do you advance in Gold II when you complete 100's of trades and emotitag 100's of times but get nowhere? What am I doing wrong?

Thu, 08/15/2019 - 11:19am
 
chrismorley1957

I was in silver and gold 1 for long time/
trading plan ,stop loss is important
write your strategy down and follow it
back test and write the results down .
if you struggling try to get a mentor /
hit as many classes you can .
keep going you will make it
don't over trade hope that helps

 
rick80138

@ jawells1928. You are pretty vague on what is going on. There are multiple requirements in gold 2 besides the 2 you have listed.
There are multiple requirements that are academics, but the critical ones monitor your statistics.

Century: Maintain Average Win > Average Loss
Century: Maintain No Loss > 2%
Century: Maintain Number of Winning Trades > Losing Trades
Great Expectations II: Maintain A Positive Trade Expectancy

If your 100's of trades have not met the criteria listed you will not advance.

 
trey.d.ingstuff

Hi jawells1928

I agree with rick80138

My guess would be that
-Maintain Average Win > Average Loss
-Maintain Number of Winning Trades > Losing Trades
-Maintain A Positive Trade Expectancy
are the tasks that are the sticking points.

This was what took me the longest. I imagine that's the case for most people.
What Apiary is looking for is proof that you can be consistently profitable over a number of trades/period of time.

Here is what helped me:
1) I found the average win and average loss for my last 100 wins and 100 losses (or whatever the specific number is for Gold II) and then repeated the process every day after that. I did this so I could see every day if my stats were moving towards or away from my goal.
2) I analyzed my last 100 trades to see the winners vs losers every day for the same reason.
3) I scrolled to the bottom of the Statistics page and clicked the "Calculate my 30-day Stats" button to see my 30-day expectancy. I recorded that every day. Generally, if you're achieving 1) and 2) - 3) will eventually take care of itself.
I performed this analysis by exporting my trades to an Excel spreadsheet, scrubbing the data for what I needed, and then doing my analysis on the new limited data set.

Next I analyzed my trades to figure out what my issues were. This was the question I had to answer:

If I have more losers than winners and/or if my average winner was smaller than my average loser, why is this happening?

I answered this by:
1 - after trading, take a screenshot of the chart I just finished trading.
(attachment Thurs5.png)
2 - use Alveo to plot my trades and take a screenshot of that chart
(attachment ThursPlotTrades.png)
3 - now I have 2 screenshots 1) a screen with just the bars and any indicators I use, and 2) the same chart, but with my trades plotted on it
4 - get out my trading plan, go over each of my trades for the day, and answer these questions
- did I follow my rules on each of the trades?
* If I didn't follow my rules how did I break the rule: bad entry?, bad exit?, something else?
- the goal is to trade each trade according to my plan.

The best order to view the images is:

- Thurs5.png - Shows the clean chart with no trades

- ThursNoTrades.png - Has annotations regarding my rules and technical analysis. This is the information I use to grade my trades. If you're new to this process it is helpful to analyze the chart before grading your trades.

- ThursPlotTrades.png - Shows the chart with my trades plotted. The trades are the thin green lines. I didn't have any losses today. Losses are in yellow.

- Tues5p.png - Shows a day with some losers to show what a losing trade looks like.

Happy Trading!
:)

Thurs5.png ThursNoTrades.png ThursPlotTrades.png Tues5p.png
 
4francis

Yeah, what they said.
I was stuck in Gold 1 for 22 months. Expectancy was the hardest part.
Then I stopped trying to wing it and started to write everything down.
This forced me to slow down and take only high probability trades and cut my losers sooner.

Being steady with more wins than losses, and average win greater than my average loss, caused my expectancy turned around.

Now that I've figured it out, I should get through Gold2 pretty quickly by being a Steady-Eddie.
(and using micro lots!)