I find myself constantly wanting to overtrade, the futures market provides a lot of opportunities, and sometimes you can end up seeing opportunities where the probability of success is lower but you end up taking the trade anyways.
You have an infinite number of trades so setting your own rules using the discipline of course is the obvious answer. This doesn’t change the fact that sometimes you will find yourself in a position where you slip up. My best days have come from my strictest trading, and having locks in place helps me as part of my process, such as having a pretty tight daily loss limit that locks the account from further trading. Sure I may miss out on trades that could make me back my loss, but there will always be another day to trade and it reminds me that my sloppy trading is why I am missing out.
I would love the implementation of a feature where the user can set a limit to the number of trades they can take a day.
This will make the user more selective about the setups they take, limit losses assuming appropriate stop losses are used and help refine their trading.
A few things I’ve considered if this was implemented:
-scaling into a position may be tracked as another trade, so maybe if the user adds a long to a long it is considered as the same trade.
-Having average trade numbers from profitable and successful traders be the default could function for many.
-A similar system is already in place with regard to limiting contract number amounts. (which has helped me greatly) could potentially be adapted.
-What if you’re trying to hedge, but don’t want to waste a trade? I think the user needs to be aware and allocate a sufficient number of trades. Or the system can see that an inversely correlated position was taken and count it as part of one trade.
I would really love to see this feature, I am not a coder, and I do not understand how difficult or time-consuming this would be, but having it be implemented would be greatly appreciated by me.
Thanks to anyone that takes the time to review this.