johnny_utah's daily journal

Discussion in 'Journals' started by johnny_utah, Feb 5, 2013.

  1. The purpose of this thread is to track my progress as a trader and also my equity curve which I expect to be rising steadily without extreme drawdowns.

    A bit about myself. I am not new to the markets. I've been trading for about 7 years and I know what needs to be done in order to succeed, however, I haven't accomplished it yet. Most of my losses in the past were due to lack of discipline. I've blown up many accounts as a result.

    I am trading stocks in a prop account. My starting balance is $2k. I realize that it is a bit low but I consider it more than adequate. I have a solid edge that works. The plan is to trade 100 share lots initially and scale up gradually as the account grows.

    I would also like to point out that trading is not my only source of income, therefore I can concentrate on trading well. The ultimate goal is to increase my profits to a level that will enable me to do this for a living.
  2. Off to a very good start.

    +384 (gross)

    Won't know the exact net gain till the reports get updated the next day.
    The account balance was below 1,900.00 as of this morning which includes a pending wire transfer.

    I'm posting the gross P&L and trade analysis. Going forward, I will only be posting the P&L.
  3. Couldn't figure out how to attach 2 files in the above post. Here's the trade analysis.
  4. Bad day. Got screwed trading fast moving stock with thin levels not once but twice.

  5. Disastrous end of the week...


    Made too many mistakes today. One of them was totally avoidable - took on too many positions (5) at the same time. One of the longs started dropping like a rock and by the time I noticed, I was down over a buck. From now on I will limit the number of open positions to 3.
  6. Nothing seemed to work today.

  7. Finally a positive day.

  8. Took a day off from trading on Wednesday.

    Was up a lot more.

  9. My posts from last week got lost as ET changed from its new format back to the old one.

    Finished slightly positive despite taking more stops than winners.

  10. Decent day, no complaints.

    #10     Feb 26, 2013