Everyone seems to be using the same style of template in JOURNALS. "Iâve decided to keep a public trading journal for 2010. I really debated whether or not this is a good idea, but hereâs why I decided to do it. Iâve gradually gotten more complacent and somewhat lazy over the last couple years with my trading. Iâve been fortunate to have a couple really good years and havenât had a strong impetus to put in long hours working on new ideas and refining current ones. I am somewhat concerned that 2010 and beyond could be tough sledding as the government meddles more and more in our business and the computers we compete with get harder to beat and get to play by different rules. If things do get tough and Iâve put my trading out there for all to see, maybe it will help motivate me to buckle down and stay ahead of the game. It will also force me to stay on top of my record keeping, which I really let slide last year. There is a lot of negativity, disbelief, and cynicism about trading expressed on this site. I think most people who are well prepared and willing to work can make it as traders. Hopefully this year doesnât suck and I can provide some encouragement to those working at it and prove the haters wrong. My journal will be light on specifics of what or how I trade. A lot of what I do is liquidity sensitive and I do not want to invite people to try to reverse engineer my systems and then compete with me for fills. I am happy to engage in discussions about things like position sizing, risk management, handling emotions, etc, but donât be offended if I donât answer your question about âwhat time and price did you enter this stock and why did you exitâ? Iâm only going to report weekly results. Iâve always treated daily p/lâs as noise and donât pay attention to any time frame shorter than a week when it comes to tracking profits. Itâs hard to set a goal for the year as it depends so much on volatility. In my mind, I would be concerned if I wasnât able to average at least $20,000/month. $40k/month is about what Iâd consider average, not counting the crazy period of late 2008. Like I say though, I am prepared for this year to be tough, so I will be pleased to scratch out 250 to 300k. Iâll call that my goal for the year and hope I over shoot it. Most of my trading is done in a prop account that is starting the year at $110,000. I also have a retail account with more than that in it, but most of that is reserved for taxes, living expenses , etc, and also to pay for a new house Iâm building. The retail account sees trading daily, but usually light volume and dabbling in different things. It gets busy if volatility really jumps though. I donât expect it to contribute more than 30% to my p/l total"
I hate it when threads on ET look like this, especially mine. Means all those on my ignore list are posting... Kinda funny looking though don't you think?
I am going to go back to just posting the P/L from my main account. Adding the IRA sub account at the other broker is a lot of work and it is not a substantial portion of my holdings. I am going to be moving this sub account over to the same broker soon to better keep track of things. Of course that means having to liquidate some positions. I am going to time this to happen over the holidays since it will take about 2 weeks and we will have little action most likely. With that said -2896 Today / +5113 Overall (Remember I am not adding the other acct anymore until I move it to the same broker) The sell off spilled into a second day. Silver put in support for now at $28/oz. The fundamentals have not changed so I am riding this pullback unfazed.
see para #5 for the tip-off, the red light, the "ding" - but the HERD never sees such, they usually ignore such - to their own peril and even then they never back track to peruse the "where" = "engine failure light" warning signal ...... My journal will be light on specifics of what or how I trade. ET, the extraterrestial zone - what a goldmine for study of HERD mechanics and the POSERS therein.
+98 Today / +5212 Overall Doji Day. Gold and silver were treading water all day and didn't get any clear sense of direction in today's market. Was up as much as 1800 on the open and down as much as 600 midday. In the end I finished pretty much where I started. Still, always good to be at least a little ahead.
-930 Today / +4281 Overall Glad this week of price suppression is over. The only good thing is we retested $28/oz in silver again today and rallied right back. A nice triple bottom has been painted for us by the banks. We'll see what happens next week before the dead period the last two weeks of the year. Good weekend to all.
As I suggested to you before we could have some sector rotation soon and we are now in the midst of it now. More to come. With the US economy improving Gold will continue to sell off a little now which may not be good for Silver by association. If I'm right what you will see is selling off all your assets once they began retracing ( maybe banking 70-90% of the move ), then redeploying your capital in the same assets in a few months would have been a great strategy.
+3058 Today / +7339 Overall Silver went on the run overnight and ran all day. Slight pullback in the afternoon but finished up above $29.50. $9B POMO certainly helped and drove down the dollar hard. One stock up 34% today on news that one of their mines they are exploring have more gold than previously thought. Overall a perfect Monday and we are positioned for significant gains later this week. No POMO tomorrow but $16B on Wednesday and Thursday.
Hey clown, even after Baron put a finger in your bum and then you got proctologized by me, why the fck can't you START making calls with some realtime numbers instead of acting like some fckin expert and giving people advice or rebuffing their arguments implying you know better! Do it now, faggot.