Thats awesome! Must feel great to look back and see your account keep growing like that. I'm glad to see you're aware of the benefit of cutting a loser rather than keep the streak intact. You're playing smart. Keep it up!
The tidal wave of high-lighted green rows on my spreedsheet will be ruined by a red row for 12/16. A few slips today, but I won't be a sore loser. I'll update the journal this evening.
12/16 To clarify, in my own mind what happened today, Iâve broken up the day into 2 halves. The first part of the dayâ¦Although most of the first half I was trading in the red, I didnât commit and serious boobooâs. I was a little heavy in shares on a trade or two, as I didnât scale-out when I should have. I was about â($1,600) but was able to trade back to about break-even. At that point I didnât hit the refresh button and start with a clean slate. I was definitely way too heavy with shares(MISTAKE 1) and got buried before I could even give myself a chance. (MISTAKE 2) Called the broker and pushed my stop from â($2,000) to â($2,600) So, I have a new streak: --The last 3 times I called the broker and extended my daily loss, Iâve hit the new loss all 3 times. I really need to go through a day where I lose for the day and donât come anywhere near my stopâ¦how about -($222.00) for the day?? The way I figure, calling the broker for the extension cost about a day and a half worth of profit. 12/16 -($2,824.81) netâ¦1:19 p.m. total shares = 30,800 GONE--new best for consecutive profitable days in-a-row @ 14 GONE--new high for account $ size
12/17 I started the day off on the wrong foot. I traded a stock which is not in my trading range. BIDU I was short 400 shares, made +1.63 = $651.00 OKâ¦I was happy to reach my daily goalâ¦but, I knew that I broke a rule. I just didnât have my head screwed on correctly. Pre-market I keep going over what my daily goals are, money management, trade size, etcâ¦but as soon as I typed in BIDU all of that went out the door...I should have closed down for the day. I figured I was above my goal that I would continue on and use my $400 goal as my stop. This is not the frame of mind that I want to be in⦠From the next trade on I was trying to keep from losing my profit and I just kept making one bad decision after another. At one time I had a closed out loss of â($750) I completely over traded⦠I added way too much sizeâ¦I had 4000-6000 shares of SAY at different times. This is the way that I used to trade when I had trouble having 1 profitable day. 2 in a row was unheard ofâ¦. I was LUCKY today. Iâm not sure if I executed 1 trade properly. Trading since I have started this journal has been pretty enjoyable, for the most part. Trading today was not. 12/17 +$2,037.42 netâ¦1:30 p.m. total shares = 27,600 my trading room today: http://www.youtube.com/watch?v=ZZMOhlMw3uY
12/18 What a difference a day makes⦠I am 100% pleased with my trading execution today. A complete turn around from yesterday and hopefully back on track to just being consistent. 12/18 +$811.44 netâ¦9:48 a.m. total shares = 3,200 (this is more like itâ¦)
12/19 I did well to get to my target of +1.00 = $400. and closed out above $500 I decided to continue to look for opportunitiesâ¦against my game plan for the day. Everything turned out OK although it wasnât necessarily easy. I am really going to try to hit my goal and stop next week, especially with the short week. I worked on my timing & size for when I scale-in & out and I was happy with the results. 12/19 +$833.98 netâ¦10:50 a.m. total shares = 13,800 Week in Review: (net) Monday +$520.14 Tuesday â($2,824.81) Wednesday +$2,037.42 Thursday +$811.44 Friday +$833.98 Total: +$1,378.13 Although it was a pretty bad week regarding discipline, Iâm happy I kept it together and ended the week with profits. --new high for account $ size --new best for 4 profitable weeks in-a-row http://www.youtube.com/watch?v=wonDcqVRUcA
I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed. Michael Jordan
I think when you are learning something new that you will make mistakes, and then by learning from those mistakes you get better. I made some of the usual mistakes today. There are no more reasons or excuses for days like today... 12/22 --($2,718.84) net I think I need to take a close look at the playbook and rewrite a few things so that I can trade as close to mistake free as possible. I don't mind a losing trade, but not one filled with stupid mistakes. So it is named: ..."Last Pieces of the Puzzle Journal"