Frustrated

I am a discretionary trader and my goal is to trade the ES in the near future.
For now I am trading SPY to get the feeling.
Even though I traded part time in the 90’s, I still have a lot to learn.

Well I trade 100 shares of SPY for 5 weeks. I can go as high as 2000 shares
but I would rather increase my size gradually if and when I show a profit.
My plan is to add 100 shares for every $500 profit and also decrease accordingly
when I have a loss.

I made about 350 trades so far with only 100 shares.
I am $150 net, my commissions plus taxes about $500.
It looks like I am working for $30 a week and my broker gets 3 times that.

I am very frustrated and I search for solutions. I keep a trading diary and also
I also an Excel file with some statistics about my activity.
I am thinking to reduce my trades but I am not sure if that is the solution.
Win/Loss ratio is 2:1. I don’t know if I can improve that.
Definitely I have to work on my average loss, which will help a lot.
Increasing my size, providing I keep the same results, will do it.
I explained above how I plan to do it.

Any other ideas?
PM me if you need further statistical details.

I would appreciate any constructive comments.

Regards

Hamp

 

lots here wont agree with this but i say forget the spy and es for now. its too hard for beginners. small mo mo stocks is where the money is right now.

 

I'm not up on all this bling bling phat talk. What is mo mo?

 

Try swing trading the rydex funds. At least you will save the broker fees.

 

if your win % is > or = 50% and W/L=2 then you got it made. just increase size/leverage.

 

it's all about the bling blong wheels...

 

Momentum?

 

Just a thought, perhaps you could review your past trades to see if there's a corralation between the time of day and your W/L %

It looks to me that you make an average of 14 trades a day? If this number is close, then maybe its too many to properly focus on each and every trade.
I would think that you could make 30.00$ a week making less than 1 trade a day on average.

sulong

 

trading 100 shares

IB might be the cheapest broker commissionwise
for direct access

good luck

 

If you are net positive after 5 weeks of daytrading SPY, then you are doing just fine. Since you are net positive, why not switch to ES now? I have been trading SPY/ES for nine months and am not yet consistently profitable. There have been times when I have experienced severe frustration, only to learn what I needed to learn and regain a positive attitude. Unfortunately, there is lot of stuff I needed and still need to learn. :eek: :eek:

Good Luck