When I say I spent I'm referring to an estimated amount of commissions and fees. So yes, 263 - 130 = $133. thanks. I hope you enjoyed my journal!
Yes, it is interesting. I should probably do the same thing, at least in a private journal. I am more of a position / swing trader, allthough I day trade if I see the profit some better than average trade. take care john
hey guys! I feel good this morning! I had a good night rest and an easy commute this morning. Hopefully my trading day will go just as well. Good Trading!
Today was the worst day I've had. I made so many mistakes. I was shaken out too quickly. I lacked discipline, patience, and an understanding of the trend. I had the opportunity to make THOUSANDS today. But my lack of skill ruined me. I was trading HPQ today! Yes, I know..... Their stupid CEO resigned today and it was the talk of the town.....blah, blah, blah Well, I made hundreds, lost them, made them back, and then lost them and so much more. At about 3:02pm I bought 2000 (yes, a STUPID decision to trade this many shares) at $21.66. At 3:07pm, I sold them at $21.55. That's a loss of .11 cents. As you could imagine, I felt crushed. Unable to continue. For the first time, in a while, I felt defeated. Done. Finished. Like it was a hole that I couldn't come back from. I can't imagine what I would have done to make it back. Prior to that the day seemed almost like any other. I made $160 and then lost it. Made it back, and lost it. I felt great because I just kept coming back. Hell, in the office, I've been know to make some pretty spectacular comebacks. But today was different. The loss came too fast. I was in the money about 6 cents from where I was, but then it came down to my entry. I had the opportunity then to take a flat, but I held it. First it went against me 1 cent, then 2. Suddenly, I felt something I hadn't felt in a while, ......fear. For a minute or so I just kept thinking, "This sucks. This sucks. THIS SUCKS!" But by the time I realized I needed to get out, it was too late. So here I am. With a loss that I couldn't of ever imagined. But I only have one person to blame. That's me. I should have had more discipline. I should not have forgotten the trend. I should have traded a smaller share size. But I guess I needed to experience this. I lost $266 and spent $220 losing it. I had 49 buy executions, 43 buy executions, and 88,600 shares traded. Tomorrow will be a better day!
I pay commissions on a per execution basis. So in other words, if I buy 100 shares or 20,000 I still pay the same execution fee.
Watching a trade go the wrong way while frozen is the worst!! I lost 2 weeks pay in a few minutes doing that once. It was a good lesson. I remember it way too well even years later. Most people talk about collaring a trade with a profit target and a stop loss right as they enter. Maybe a loss of 1 Average True Range or something, and a 2 ATR profit target. You may have something like that going already but personally that is what I would do just for the case of "what if I get hit by a part of a plane falling out of the sky and am knocked out" kind of situation. Personally that is probably how I would trade all the time, just collar the thing and let it run to one extreme or the other or get out if too much time passes so I could get the money working again. You could relax more when you were in a trade. I am way into auto trading, if a trade is going the wrong way I don't have to watch!! Max
'sup, bits.. how's it going? i pretty much just stick to a cookie cutter plan of scalping and swing trading about 30 safe, low p/e stocks. i also still short the Q strangles month to month. what about you?
Well, I guess I should say that I'm feeling well. I took a net loss of $495 yesterday and I can say that I feel okay. Unlike the last big loss I took back in December ($390), I don't feel destroyed. I'm still alive! Hell, I was even laughing about it this morning. Regardless, I feel good, motivated, and determined as ever. Today is payday!!!!!!!!!! Good Trading!
Well, not a good day. I was up $140 and then I took a $300 loss. No biggie. But unfortunately I never recovered. I spent the whole day down about $178. I staged one of my infamous comebacks and ended down $42. At the end of the day I was in the most nerve wrecking trade I've ever been in. Short 10,600 at $3.06. I COULD NOT COVER!!! I was really close at covering on NYSE but my order kept reloading. I was also the first on BRUT, but we all know that that isn't reliable. I lost $42 and spent $100 losing it. So my net loss is ABOUT $142. I had 17 buy executions, 22 sell executions, and 112,000 shares traded. So, over the past 2 days my loss has been ABOUT $625. I'm actually not really mad about it. I took a loss and I'm still alive. I'm absolutely sure of one thing though.......Tomorrow will be a better day!