Today dropped back to 100 shares. Better discipline, but it was a fairly simple day, as I had good entry points and the P/l was pretty much green from the get-go. Three symbols traded today Done at 9:47 10/22/18 +/- Position = 1.19 Goal = .25 Average = .8427 Avg to Maintain .25 = .2305 Trade Size = 100 Shares Today's Gross = $119.00 Eight *8* Profitable days in a row
I was closed out with a profit and went back in and lost everything I made the last 8 days and double or more. I entered a trade without double checking my share size and it was about triple. Instead of just exiting with a loss from my technical error. I compounded my bad decision with a number of other very familiar and very bad decisions. This is my flaw. Amplified Share Size; which I will now call "ASS"...seems fitting. Until I resolve this, I can't trust myself to think that this can be the way I derive my income and support my family. Back at it tomorrow.
10/24/18 +/- Position = .83 Goal = .25 Average = -1.9618 Avg to Maintain .25 = .3457 Trade Size = 100 Shares Today's Gross = $83.00 One *1* Profitable day in a row Although I want to be fully accountable to myself in this journal and my personnel worksheets that I keep, yesterday's results (account went down about $1,863) really make thinks wacky. I wrote down from another ET member post about a week ago: "Don't run too far, you will have to return the same distance" So here I am, time to return the distance.
What is the time of the day you generally make your GOAL? And when you went back in, was time beyond your average time of ending? Do you have a way to not put more than 100 shares in your platform, semi-automation? Or a drop window confirming asking you to confirm over 100 shares? "Greed" is one of the areas I had to overcome long ago. When I have to "think" for me it is the same as "hope", you eventually have subconscious understand that "mistake"=GET OUT is the only solution then pat yourself on back for doing correct response. You have to stop thinking every error is a bad error, only thing that can be bad error is wrong response. Profits come last, capital preservation comes first. As you start getting into streaks, some point consider trading less shares.
My goal is approximately the same every day. I should not have gone back in after I was done. I have no excuses, must have been greed to add a little more to the p&l for the day. But I totally agree, capital preservation has to be first. I hope that all my days are profitable, but I will actually be proud to post a day that I lost money, but it was within the plan. Thanks for your support.
10/25/18 +/- Position = .4259 (net) Goal = .25 Average = -1.7982 Daily Avg needed to Maintain Year Avg Goal is .25 = .3439 Trade Size = 100 Shares Today's Net = $42.59 (changed, previous posts were gross) Total Shares Today = 13,000 Two *2* Profitable days in a row Horrible, horrible, horrible... ADDED SHARES !!! UGH.
10/26/18 Net +/- Position = 1.34 Goal = .25 Average = (1.5430) Daily Avg needed to Maintain Year Avg Goal is .25 = .3400 Trade Size = 100 Shares Today's Net = $134.08 Total Shares Today = 400 2 Symbols Traded Start 9:12 am End 9:30 am Three *3* Profitable days in a row
Hmmm, where to begin... I don't think I could even convince myself that the day would start & progress the way it did and that I would get so far off track. And I am pretty good at convincing. I thought I was ready for today, to just battle at my little 100 share trades and continue to get my game together. Stay on plan. I didn't. Lucky I made it back. I made it back, I saw the trend change, I pulled the trigger, just lucky I had the chance. Another day of "Beyond and Back" 10/29/18....The last day that I have to post in this journal that although I know what to do I still refuse to do it. Sounds like my 4 year old son. I will see you tomorrow. 10/29/18 Net +/- Position = 1.81 Goal = .25 Average = (1.2863) Daily Avg needed to Maintain Year Avg Goal of .25 = .3363 Trade Size = 100 Shares Today's Net = $181.59 Total Shares Today = 25,400 Symbols Traded = 9 Start 9:31 am Finish 2:34 pm Four *4* Profitable days in a row
No cute post today. I traded 57,340 shares. It should have been about 200-600, maybe a little more. I suck.