9:43 SHORT WYNN 100.99 STOP 101.13 out -0.26 9:50 SHORT RIMM 57.59 STOP 57.67 out -0.11 10:00 LONG APC 76.88 STOP 76.68 TGT 77.28 out +0.40
<img src="http://puddles.humanfund.ca/20101230/spy.png"> <img src="http://puddles.humanfund.ca/20101230/nem.png"> <img src="http://puddles.humanfund.ca/20101230/ecl.png"> <img src="http://puddles.humanfund.ca/20101230/apc.png"> 10:08 SHORT NEM 60.99 STOP 61.09 TGT 60.79 - Tight lower high at support - out -0.13 10:17 LONG ECL 50.51 STOP 50.40 TGT 50.73 - Jamming up against resistance at .50 - Long the break - out -0.12 10:18 LONG APC 74.76 STOP 74.48 TGT 75.32 - Huge gap up on news - APC heading higher after 10am as SPY tanks - Long over a bar - out +0.54 http://puddles.humanfund.ca/wp/2010/12/30/2010-12-30-trades/
<img src="http://puddles.humanfund.ca/20101231/spy.png"> <img src="http://puddles.humanfund.ca/20101231/wynn.png"> <img src="http://puddles.humanfund.ca/20101231/rimm.png"> <img src="http://puddles.humanfund.ca/20101231/apc.png"> <img src="http://puddles.humanfund.ca/20101231/lvs.png"> <img src="http://puddles.humanfund.ca/20101231/ual.png"> The data feed to my scanner had issues at the open so I had no gap list and no scans until about 10am. Flying blind sucks.. 9:43 SHORT WYNN 100.99 STOP 101.13 - Market weak, WYNN not even that weak - Short the break of the round number - Really thin and spready, absolutely rapes me on the stop out - out -0.26 9:50 SHORT RIMM 57.59 STOP 57.67 - Same story as above, stopped out in maybe 10 seconds. - out -0.11 10:00 LONG APC 76.88 STOP 76.68 TGT 77.28 - APC gaps up again on rumors - Beauty higher low at the highs while SPY looks like it's gonna reverse - out +0.40 10:06 LONG LVS 45.16 STOP 45.01 TGT 45.46 - LVS moving hard before 10am against a very weak SPY - Forgot to switch to 5min after 10am, long over the higher low - out +0.29 10:07 LONG UAL 24.36 STOP 24.39 TGT 24.5 - UAL jamming up against resistance at .35 - UAL making that triangle thingy - out -0.07 9-11 week to close out a 48-61 month (44%). I'll be doing a year end summary shortly and probably starting a brand new journal for 2011 http://puddles.humanfund.ca/wp/2010/12/31/2010-12-31-trades/
<img src="http://puddles.humanfund.ca/2010-results.png"> 2010 Summary Over the last 8 months I've chatted, emailed, called and visited with geez. He has taught me a ton and I'd like to think I've given him some tools that helped his 2010 bottom line. I've gone from an emotional part-time trader off a 15" laptop to someone with a system, limits and pretty decent execution (and 4x23" lcds). I've come a long way but I fully understand there is a long way to go. I still consider myself to be in the learning phase and my goal is to be able to find and execute my system as best I can on any given day. To paraphrase the great coach Taylor - profit is not a goal, it's a byproduct. I managed to endure a pretty cold Q4 where I sized my max loss per trade down but stuck to my system. The cold streaks snapped and I managed to finish my months at decent winrates. Unfortunately smaller loss sizes create sizing issues which can create far from optimal results but I'm comfortable with the fact that when I size up I should be grinding out profits just doing what I've always been doing. The year end numbers.. 280 wins, 350 losses, 44.44% winrate. 104 "green" days, 48 "red" days. a green day is defined as 50% or greater on the days trades regardless of P&L. All trades were posted in this journal with a 2:1 R:R. Actual results were almost always less that 2:1 due to slippage on entry and sometimes on exit (stop mkt) but results were at least 1.8:1 in virtually all cases. I intend on starting a new journal in 2011, hope to see you all there. http://puddles.humanfund.ca/wp/2010/12/31/2010-summary/
as I'm about to start a new journal I decided to re-read the first couple pages and found this gem of a day.. GLD @ $84 AAPL @ $93 RIMM @ $43
Hey, don't you know? Daytrading, according to 95% of ET members, is just a pipe dream. What you've been doing doesn't exist, it's just an illusion, it's not even theoretically possible...lol. Great Journal, great Discipline, relatively simple system (which is always a good sign IMO). Looking forward to your new journal.