Down nearly 25% on the year... documenting every trade until I'm back to even.

Discussion in 'Journals' started by upandcomer, May 19, 2011.

  1. Hey all,

    I've been trading stocks for a few years now and in February I started trading options. I don't believe in paper trading and believe the best way to learn about anything in the market is through using real money. As a result, I've learned a lot recently, but I'm down nearly 25% on the year.

    The purpose of this journal is to document my journey back to an even P&L on the year. I plan to do this by limiting options trades, which I have been using exclusively for the past 3 months, and going back to what has worked for me (trading/swing trading stocks & ETF's).
  2. Holding overnight, stopped out when 60min candle closes above trendline.

    Also, commissions are $1.00 per 100 shares.


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  3. I'm still short heading into Monday.

    If spy gaps lower tomorrow morning by anything more than .5%, I will cover half of my position.

    I have been working on letting my winners run however, so lets see where this week takes us.
  4. I covered all 38 shares at 38.61.

    Last night I said I would cover half of the shares if spy gapped down over .5%. I did not do this because spy opened below its daily trendline-support. I then figured spy would trade lower to test the 100sma on the daily chart. I left for my 9 o'clock class and set a buy order for all 38 @ 121.61 (just above the 100sma). I decided to cover all shares because the market, if it reached my 131.61 target, would be way over extended.

    pictured below are the daily charts showing this trade; the chart on the left is from last thursday when I put the trade on and the chart on the right is today.


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  5. Forgot to add:
    Starting capital = $2670
    Spy short trade = +$113
    Current capital = $2780
    Goal.... $3500

    +4.1% account gain on trade and since start of journal.

    (Figures may be a bit off due to commissions and an 18$ options contract I am still holding)
  6. Sidw


    Nice long there at 131.61, you got in right on the touch of that trend channel line from May 5.
  7. Thanks Sidw.

    Short spy at @ 132.7 Stop is ~ 134.5 area.
    Don't know why it says I got filled before the chart reached 132.7...
    Looking to hold this for a while, preferably down to the 124/125 area.


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  8. Still short, I knew when I put this trade on that I would probably take some heat. Market is reverting to the mean right now... not worried. If we close at highs today, I will look to see the market gap higher on Friday, in which case I will add to my position as I expect there will be heavy selling into the weekend, and early next week.
  9. Just bought 50 DRV @ 11.95

    I'm still short 30 SPY.
    #10     May 27, 2011