Book summary - Alexandra Elder - Sell and sell short - part 2

How to grade your entries and exit? (as a science person by training, i like calculation. quite interesting, first time see this)

The Buy Grade = the high of the day minus buy price / the high of the day minus the low of the day
The Sell Grade = the sell price minus the low of the day / the high of the day minus the low of the day
You can measure the quality of your buying and selling by comparing your transaction price to that day’s range. When you buy, you want to trade as close to the low of the day as possible. When you sell, you want to trade as close to the high of the day as possible.

The result is expressed as a percentage: if you buy at the low of the day, your grade is 100%, and if you buy the top tick, your grade is 0.

Grades below 25% are poor, above 75% superb, and between 25% and 75% satisfactory.

The result is expressed as a percentage: if you sell at the top tick of the day, your grade is 100%, and if you sell at the bottom tick your grade is 0. Here too, you want to score above 75% for an excellent grade, while anything less than 25% is poor.