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Old Jan 8th, 2011, 11:04 PM   #1
mastacoli71
 
 
Join Date: Dec 2006
Posts: 2,634
Inspired by the few noteworthy journals I have come across last year, I decided to keep a public journal of my trading for 2011. It is something that I have definitely been lacking in the past due to my quick success in trading. I am hoping that posting in the public will keep me honest with my commitment to keeping a journal.

I have been trading full time since 2007. Prior to that, I was just another number in corporate America trying to work my way up the ladder. I built up the courage and broke free to follow a career that I knew in my heart I could succeed in. I was fortunate enough to find a mentor in the beginning. This definitely helped shorten the learning curve.

Trading through the financial crisis was a huge help in building my working capital that I have today. 2009 was not all that bad but definitely some bumps in the road; all things considered, still a decent year. In 2010, I was on track to beat my 2009 results until August hit. From that point forward it was a downward spiral until I decided to stop trading mid December to take a long needed break. I still finished up for the year but I knew something had to change.

My net PL goal for the year is $150k. I trade prop so access to capital is not an issue. The goal is conservative for me but it is a target I can live with and that will allow me to get back on track after the emotional rollercoaster from the 2nd half of 2010. I am starting off with $100k in my prop account. The weekly PL numbers I post will be net commissions. Another commitment is tracking my equity curve so I will try to post this monthly.

My main strategy in the past has been pairs trading. One of my goals for 2011 is to break out of my comfort zone and find more that fit my trading personality. In order to achieve this, I have made a commitment to myself to quantify each new strategy.

If I am fortunate enough to generate any questions from this thread, I will do my best to answer them. Please do not be offended if I do not share specifics about my strategies but I am sure you will understand why.

Last note, some that may run across this thread probably recognize who I am. If so, enjoy the free entertainment!

Ok, that is it. My next post will be week ending Jan 7.
 
Old Jan 8th, 2011, 11:23 PM   #2
mastacoli71
 
 
Join Date: Dec 2006
Posts: 2,634
Week ending 1/7. -1500, -200, +2100, +3000, +1900...week total +5300 on 88,000 shares.

No landmines to speak of. First full week back since my Dec. break. Of course some bad habits I am working to get rid of reared their ugly heads but so goes trading. Discipline is one thing I am working hard on this year.

Results are a bit magnified due to a year end trade I put on Dec 30th so not expecting nearly as much next week but you never know what lies ahead in the markets.
 
Old Jan 9th, 2011, 11:03 AM   #3
mastacoli71
 
 
Join Date: Dec 2006
Posts: 2,634
Below is a snapshot of the base capital in my prop account ending 2010. I will not be posting this again. My PL postings will also include my retail account. I do substantially less volume in it so do not expect at this time much contribution to the bottom line (maybe 10%). If this changes, I will certainly point it out.
Attached Files
File Type: pdf account summary end 2010.pdf (51.1 KB, 690 views)
 
Old Jan 9th, 2011, 03:21 PM   #4
PropTraderMTL
 
 
Join Date: Dec 2010
Location: Montreal, Canada
Posts: 302
Quote:
Quote from mastacoli71:

...I decided to keep a public journal of my trading for 2011. It is something that I have definitely been lacking in the past due to my quick success in trading. I am hoping that posting in the public will keep me honest with my commitment to keeping a journal.
I understand this completely and is the reason I started to keep a journal late last year as well. I first started it private but I felt by it being public I would find it harder to stop in the future.

I hope you get out of it what your looking for. My goal was more consistency and to recognize some of the errors I make by forcing myself to examine my trading day.

Best of luck with your journal
 
Old Jan 9th, 2011, 10:14 PM   #5
mastacoli71
 
 
Join Date: Dec 2006
Posts: 2,634
Quote:
Quote from PropTraderMTL:

I understand this completely and is the reason I started to keep a journal late last year as well. I first started it private but I felt by it being public I would find it harder to stop in the future.

I hope you get out of it what your looking for. My goal was more consistency and to recognize some of the errors I make by forcing myself to examine my trading day.

Best of luck with your journal
Thanks. I contemplated doing this publicly but decided to for the same reason you did. I have always struggled keeping a trading journal so hopefully this thread will keep me accountable.
 
Old Jan 10th, 2011, 10:14 PM   #6
mastacoli71
 
 
Join Date: Dec 2006
Posts: 2,634
Well the landmines I avoided last week were still around and I stepped on one today and man did it hurt. I carried a pair over the weekend thinking I had a big edge with the move it made on Friday. Well I was wrong. Realized loss locked in for the spread = -$10,300 . Had I stuck to my original stop loss last Friday, I would have saved myself $7500 today (Friday the spread closed down $2800 against me).

I've come to the conclusion that it is not the pairs that are hurting me but rather my psychology with them. I have been struggling for the past 5 months with pairs and have finally realized that it is time to kick them to the curb until I can come up with a way to trade them in the current environment. Until then, I will break out of my comfort zone like I mentioned in the beginning and trade strategies that I have been working on during my break.

I keep telling myself this is just one day.

Daily Net P/L = -$9000 on 37k shares traded
 
 
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