To recap my "I suck" post from yesterday afternoon. Results below. At one point I was down about ($4,285). p/l finally turned green 10 minutes before the market closed. 10/30/18 Net +/- Position = 1.2888 Goal = .25 Average = (1.1154) Daily Avg needed to Maintain Year Avg Goal of .25 = .3307 Trade Size = 100 Shares (NOT REALLY) Today's Net = $128.88 Total Shares Today = 57,340 Symbols Traded = 4 Start 9:03 am Finish 3:49 pm Five *5* Profitable days in a row
A TINY bit of improvement today...I think I only broke 4 out of my 6 rules. Good start to the day. Patient. I missed on Rule #3, locking in the profit when I had a chance. I then broke Rule #2 Avoid "crazy" volatile stocks, with a bad choice. I then broke Rule #1, managing my trade size (biggest issue I have) and increased too much. I then broke Rule #4, Limiting open orders to four or less. But, even as bad as that sounds I feel that today is something I can build on. Try to improve and control tomorrow. 10/31/18 Net +/- Position = 0.9313 Goal = .25 Average = (0.9789) Daily Avg needed to Maintain Year Avg Goal of .25 = .3281 Trade Size = 100 Shares (NOT REALLY - AGAIN) Today's Net = $93.13 Total Shares Today = 6,800 STILL TOO MUCH Symbols Traded = 5 Start 9:27 am Finish 10:59 pm Six *6* Profitable days in a row
Much better today. I am trying to execute my trading plan in a way that it is scale-able. Right now 100 shares per trade. Long-term plan 2000-3000 shares per trade. Besides entering maybe a little too early (8:11 am) no rules broken, although I did have a few seconds to lock in profits that I missed, but I closed it out the next chance I got. 11/01/18 Net +/- Position = 0.6720 Goal = .25 Average = (0.8796) Daily Avg needed to Maintain Year Avg Goal of .25 = .3269 Trade Size = 100 Shares Today's Net = $67.20 Total Shares Today = 1000 Symbols Traded = 3 Start 8:11 am Finish 9:57 am Seven *7* Profitable days in a row
Good today. No Rules Broken. I order entry typo (extra 100 shares than I wanted) Closing losing trades a little-bit quicker than I was, with the observation that I have been able to fight my way back from large holes. If I can keep the downside "not-so-down" I can make up for it over the long day. 11/02/18 Net +/- Position = 0.8353 Goal = .25 Average = (0.7807) Daily Avg needed to Maintain Year Avg Goal of .25 = .3249 Trade Size = 100 Shares Today's Net = $83.53 Total Shares Today = 3800 High Position Size = 400 Symbols Traded = 4 Start 8:37:01 am Finish 9:56:33 am Eight *8* Profitable days in a row
OK today. I felt like I was under control at all times, (but a little unsure/skittish). I had one trade at 1,000 shares. 1,000 shares is 10x my starting point, too much, makes today not a good day to analyze when I think about this trading plan being scale-able. Changing share size from trade-to-trade I had a few more order entry typo's. Traded more symbols today than I have been. Try to be more patient and relaxed tomorrow. 11/05/18 Net +/- Position = 0.6246 Goal = .25 Average = (0.7065) Daily Avg needed to Maintain Year Avg Goal of .25 = .3239 Trade Size = 100 Shares Today's Net = $62.46 Total Shares Today = 8,800 High Position Size = 1,000 (too high) Symbols Traded = 12 Start 8:28:41 am Finish 11:48:37 am Nine *9* Profitable days in a row
Haven't posted in 2+ months During that time I traded some and other times the account dipped below $25k and I had to go to the dryer and find loose change to reload. In the last: 10 trading days. 6 days I stuck to the plan. Sticking to the plan is EASIER when the trades are working with me. Not all of these days were easy going, but I stuck to the plan. 4 days I did not stick to the plan.(some profit some loss) On these days, not sticking to the plan basically means I added more shares than the plan allowed. I stuck to my position stop, but made much more $ or lost much more $ than the plan called for) I feel like I am ready to take on a losing day and still stick to the plan. I am almost looking forward to posting a losing day. If I stick to the plan and make a profit everyday for the rest of the year I will celebrate. If I stick to the plan and have a losing day tomorrow I will celebrate. The end of my speech. Thank you.
Are you actually using a separate journal software too to records your trades, thoughts, ideas, emotions, etc?
I do use a separate journal to make notes. I stopped posting daily updates on ET because I thought it might be feeding into my need to have a winning day, and going off-plan. But, I now realize the posting didn't have anything to do with it. My flaw is that I start to get into a position that is losing and I keep adding shares to leverage out...snowballs = big loss, sometimes a big gain too but either way it is wrong and I am out of control. I really need to go through an entire day, following the plan and come out with a proper loss. But, it wasn't today 01/18/19 Friday Followed Plan + $
The want to be successful at the long term plan that I lose sight of the short term plan. I believe I am ready and looking forward to next week.