Hello Yesterday I didnt trade at all because the day before yesterday I lost money so I decided to paper trade to make sure my strategy and rules are working. TODAY I am so happy... :> Today I made alot of money *for me* KLAC was not available for shorting whole day and I had to concentrate on managing long positions. I think I could have made more money If I just buy & hold all day long and sell it at the end of day...however I remembered what happened a few days ago...and try not to be too greedy. First 2 trades I really did well and most of the profit comes from them. I was confident when I entered those positions. then suddenly I was so scared to lose what id just earned. I tried to be safe and kept losing small money. Now I suddenly realized that Im not mentioning any of my setup. Do you think I should do that so that other people can examine or advise me? I probably can post screen shots too. if anyone thinks thats better please let me know. thank you ojo post my record below..
What are those plus signs in the far left column? I haven't noticed those in my IB execution window before. And I see you do not have the amount of shares traded? Don't you need those for when you do your tax? Or is it different in Japan than in the US? And yes, it would be great if you could also include pics of the charts of the trades you are making.
Good evening version77 :> I am not sure what the plus signs are, but they were there when I intalled the program. I took out quantity because I thought it wouldnt matter when I write about entry and exit of the trades, but I keep them with me. (I traded 500 shares per trade today.) Alot of people told me that since I am in Japan, I dont have to pay tax to the US, and can hide the profit (if any :>) from Japanese tax place. I have some bank accounts in the United States. So if I wire the money to them, then I use the bank cards. The Japan tax place would never know. The tax rate in Japan is insane(from what Ive heard) I have to pay 26% of what I earn or 1.6 % of total cost per trade but I must choose which way I want to pay before I make any trades. is the rate similar to the US? and thank you for the comment, I will post as much as I can, maybe not everyday but like every other day :> ojo
Not much to say about this trading screenshot. I wrote most of what to say about today's trades. some lines are not drawn where they should be just because I put them as a guide. I usually bet on my thought of the support and resistance lines. also I look at the actions in detail >Level2 screen, COMPX and DJI mainly to see if those lines are varid. thank you for viewing ojo
sorry I forgot to attach the chart file it was too large so I had to change the size and format of the image it may not be able to see clearly if so please save it on your HDD and double click it then can zoom with "windows picture and Fax viewer" Good night ojo
Good evening everyone :> I was expecting some feedbacks.... if anyone would like to give me advice about my chart, please write what you think :> Is this right way to trade stocks? Does it look risky? or Do you think yesterday was just lucky? thank you and have a great week ojo
Ojo, It looks like you're doing well... stay small. My first 6 months daytrading, I never traded more than 100 shares, and never added into an existing position. For cutting losses and let winners run, it's not easy, but just think of how much you could lose, and not how much you could make. That way, you will be able to keep loss small, and eventually, the market will give you a jackpot. Also use trailing stp loss, because paper profit is real profit if you take it. Cheers!!
Thank you for the replys I reviewed my trading records just now and I still have alot of mistakes. Mostly because of mental weakness and it must be improved really alot. Nowdays I have dream almost everyday (I seldom dreamed when I wasnt trading.) and most of the dream is about trading making mistakes and I lose alot of money. After I finish trading I m not so scared, but then when I wake up the next day, I lose total confidence trading by myself. My parents and girlfriend help me not to worry and just do the same as what Id been doing when I was paper trading. But it seems nothing can help me to feel better about it. Ive never thoguht this kind of things would be my problems till I started real trading. Ive read many books about trading and they talked about this kind of emotional problems. and I was laughing like "hehe those guys are so scared ." Maybe one of the solutions for this problem is to stay small till I get over it. thank you. ojo