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The Michael Martin Show

Michael Martin is a trader and instructor for MartinKronicle. His show deals with the emotional and psychological aspects of trading and managing risk. Martin's own book is called "The Inner Voice of Trading" and features interviews with Michael Marcus, Bill Dunn, and Ed Seykota - who also wrote the Foreword.
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Now displaying: Page 1
Sep 12, 2017

Discretionary chart reading is problematic as you can't backtest it and calculate the expected value of a trade.

Only trade set ups (the combination of entries, exits, and position sizes) that have positive mathematical expectation.

Get a simulator and backtest your trading ideas to find the expected value.

The software I spoke about in an earlier episode will do the calculations for you.

Expected Value Formula

E = (Ave Win)(% Win)-(Ave Loss)(% Lose)

Roulette

2 Kings

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