Iâm satisfied with todayâ¦although I went from -unrealized- just touching my goal of $400 and not locking it inâ¦to â($400ish) and then back. BP +167.00 CNQ +405.00 MICC --(124.00) TM +14.00 +$422.45 net (10:08 a.m.) e.s.t.
THE âICEâ IS TWICE AS NICEâ¦! This has to be one of the shortest trading days that I have ever had. ICE 400 shares @ +1.21 = +$484.00 12/4 +$477.20 netâ¦â¦â¦a total of 24 SECONDS I shut everything down, but kept looking to see where the market was all dayâ¦It is great to look at the clock and see 4:23 pm and know that now the market is closed and I donât have a chance to go and give it back & screw it upâ¦I just told myself all day that I needed to stay out. âIt was a GIFT; I could trade all day and end up with the same resultâ
Iâm happy to end the week with another goal reaching performance. I almost did a replay of Mondayâ¦I locked in my profit today of just under my goal of $400, (I was above this but some slippage) at like $370 and wanted to net $420 today. So I ended up with 2 more trades and luckily got out with what I was aiming for. 12/05 APA + $325.00 DV + $69.00 PRU + $120.00 SSL â ($56.00) + $425.94 netâ¦9:45 a.m. cold coast Here is the Holy Grail that so many are looking for this time of year...but you have to practice risk management, or what happens is.. "You'll ___ ___ ___ ___" http://www.youtube.com/watch?v=ppOXpyhM2wA
Recapping last week: Monday +$471.22 net Tuesday +$489.60 net Wednesday +$422.45 net Thursday +$477.20 net Friday +$425.94 net Total: +$ 2,286.41 net If I can put together another good week I will raise my shares to 500 and daily stop to $2,500
Nice week! I think its great your total market time is about 5-10 minutes each day, haha. Keep doing what you're doing!
Awesome progress man, you started with a very conservative goal, reached & surpassed it quickly/right away, but didn't let it get to your head and moved at a good pace in scaling up. A very good journal and a great inspiration for traders still struggling
I really, really appreciate the words of encouragement. I must say thou, I am also still a trader that is struggling. I break my own rules almost every day. I am self taught and have never really sat and had a discussion with anyone about day trading, charts, money management, etcâ¦I am just stubborn. Today was a challenge. My first few initial trades were losers. I tried to off-set them with an additional trade or 2, but didnât have a feel for things. I closed out my trades for a realized loss of â($1,600). I obviously was not happy, but I didnât feel as if I had screwed up, but rather that I just was wrong today. There is nothing wrong with being wrong, as long as you donât quadruple the problem with trying to be right. My daily close with my broker is set at --($2,000), so if my realized loss + my open trade total a 2 grand loss I am closed out and locked out for the day. At 400 shares I could only go down about -1.0 point and I would be done. I took a short of 400 shares of BIDU and it started going against me( just about 1 point, I thought it was going to trigger the stop), but it dropped and I finally closed it at a +2.16 gain = +$864. That gave me a little room and I was able to stage a come back. BIDU 400 @ +2.16 = +$864.00 CLF 400 @ -.13 = --($53.00) DO 400 @ + .49 = +$194.00 DVN 400 @ -.28 = --($110.00) PCLN 400 @ --.88 = --($351.00) SGR 400 @ +.08 = +$30.00 VMC 400 @ +.73 = +$292.50 I scaled shares in-and-out on these: CAT +$674.50 FLR +$101.00 GS â($208.00) ICE +$179.00 NKE â($73.00) PKX â($249.00) POT â($605.00) Total shares today = 25,600 (not really what I want to be doingâ¦a while ago I was avg. over 100,000 per day, and losing money. I would be happy with 1 round trip at 400 or whatever it is that I am trading) 12/08 +$497.38 net 12:52 pm
I only use 1 indicator to tell me when to enter a trade⦠When the clock turns from 9:29 to 9:30. As far as difficulty levels go, today was a pretty smooth day for me. At 9:34 a.m. I had locked in: CNW 400 @ +.45 = +$178.00 UPS 400 @ +.55 = +$220.00 for +$398.00 So, I was torn between wanting to hit my daily target of $400 or stopping for the day. Prior to the day I had told myself that if I was +$300 or better I would be happy with it. So, I made a compromise. I decided to trade 100 shares instead of 400, to 1) make that lousy $2 plus commission to be over $400 and 2) Because I felt like it. I just wanted to trade. I came out OK, but I feel more stressed trading when I have locked in a profit near my goal than I am â($1,000). I have turned too many good days into disasters in the past. The trades after 9:34⦠BIIB 100 @ +.26 = +$26.00 DHR 100 @ +.17 = +$17.00 GVA (scaled shares in & out) +$31.00 (I made a typo on this order and had more shares than I wanted. This trade could have bit me.) XTO 200 @ +.08 = +$16.00 12/09 +$459.14 net â 10:01 a.m 3,800 total shares --today I tied my record for most profitable days in-a-row @ 10 --today I tied (within a few bucks) my accounts highest point. I may have been this high in the past, after a lucky day, 15 blown accounts ago, but I'm sure it didn't last more than a day.
keep up the good work, from your previous post it seems like you might still be struggling with over trading? then again you only traded for about 30 minutes ... haha
Thanks yayt... I think overtrading has a different meaning for everyone. If I can make it to my daily goal I don't feel there is any reason to continue to trade...except indecesion or greed, which I had a little of both today. I will update the journal on today's trades this evening.