LGCap Trading Journal

Discussion in 'Journals' started by lg_cap, Apr 21, 2010.

  1. lg_cap


    Relatively new stock trader posting here to help keep on track - with the encouragements of my firm.
    Keep in mind, the firm's owner might once in a while read this thread. Keep in mind I am not a native English speaker. :p

    For the next 2 weeks, I am on a simulator and have to learn the hotkeys by heart. Then from may, I am live.
    I think I have a relatively good deal for a semi-beginner in stocks:
    70% payout, full rebates, 20cents/1000, and $1,000 deposit to cover any losses and the computer they've sent
    that has the trading software configured.
    I don't need to go and fiddle with mapping/unmapping!
    I guess they want to make using their software "idiot proof"

    I like that the owner is only interested in seeing trading profits.
    Very very honest conversation : " I am only interested in profits..." money, money, money :D A language I understand.

    I shall post my p&l on a daily basis, and will welcome your feedback. I first thought of waiting till may to post, however, one can learn a bit on the simulator as well. So for the next 2 weeks, I will post my simulator score.

    My goal is to trade well :)
  2. lg_cap


    Looking to the charts AFTER the trading day, makes me realise how anybody can make trade calls
    after the market has unfolded! Looking to the charts after, is a completely different story from making decisions
    while it is unfolding.

    So, I am most happy about the scratch trade.
    As my trade would start turning into flat, I exited rather than wondering where the market would go.
    Less than a minute later, a 40cents spike apppeared.

    Sterling Pro software is actually very robust: all the data were
    moving fast, and the software didn't crash.

    Score : ConocoP ( COP).
    +12 cents
    0 cents
  3. lg_cap


    Left quickly on friday to catch my train...

    Friday score: Conoco ( COP) again
    -1 cent
    -1 cent
    -8cents ( took a big break)

    I really do not like the -8cents.

    This week, I will not be trading as I am learning my hotkeys and having a formal view of the software. I am really warming up to Sterling. I am also to learn our charting software. This should give me some time to read a trading book before trading live. And what's nice I will be starting with 500shares when going live, but have to keep 100shares constantly in and out. Call this active trading.
  4. lg_cap


    I have to say my fingers are really sore practicing these hotkeys. :( .

    Looking forward for the more passive formal presentations about Sterling. :D
  5. lg_cap


    So first day of trading live.

    Score : DIS

    Only one trade.
  6. lg_cap


    No trading yesterday, as I took the day off.

    Today, was interesting: string of winners. Trying to understand
    why/how - clear mind? more concentration?
    Is the journal posting on ET getting me to focus more, to control myself more?
    Just hope the boss doesn't build too much expectations. As string of winners are statistically pretty rare...

    I won't trade stocks for the next 2 days as I want to consolidate the last trading book I have just finished reading.

    Score : MRK
  7. lg_cap


    So far the stock trading has been very good.

    On friday, I was offered to trade forex - so that I can get more leverage- with longer term goal of putting in ridiculously big sizes- without moving the market.
    Before I thought that the biggest sizes were into the futures, and specifically the bond market. However, I have been explained that because forex has fewer instruments ( pairs), the size of a trade can be extremelly massive.

    And, one forex guy is also helping me out with the fundamentals...
    So I accepted. The end target is very stretching, but why not.

    Now, I am kind of entering into a strange pattern.

    Monday : up 2000pips, then lose and finish with 400 pips.
    I should have stopped at 2000 as my target was reached for the day.
    But I figured that, as I was doing well, I'd better push my luck...

    Tuesday , same story. short of 40 pips to the target. Then bam, lose all but 200pips. Tuesday really hit me hardest.

    Today, I simply took the day off. I think yesterday was what really got me. I was n-e-a-r-l-y there, to nearly lose it all. I think trading 16-18hrs got me tired and may be that's why I gave back the pips.
    Day of reflexion.
    I might ask to go back to stock.
  8. lg_cap


    I am now back to stocks and online journaling :)

    Score : CLX

    Not a great stock :
    - large spread
    - the programs are just annoying with their fake bids and offers.
    But then, it is nice to see them "panicking" when there is a sharp move down. Also, when the fake bids start appearing and going higher, it seemed that was the moment to look for short positions.

    I guess I am more keen on stocks because of the not so huge pl swings - and the emotions that these create.
  9. lg_cap


    Had a conversation with the boss. Quiet unusual : he has never ever traded in his life! I had to ask if he said that because it would be better than saying he was a "loser" at trading. Not the case : he simply has never put one trade. But he is a number crunchers and he made it clear he had excellent "people skills", so I can ask any questions. :)

    He really makes people want to trade even better. Specially as part of my homework, I have to reward myself for every day I trade well. Hopefully I won't run out of "toys I want".

    He was right about putting people on forex last few weeks. But I think for the moment I have much more to learn on stocks.

    Learned the trailing stops on Sterling: it is so simple
    and so useful. No -8cents anymore.
    And all the keystrokes are limit orders, except the 2 orders
    to close all positions.

    Score : clx again

    I really don't know what happened to the program trading on clx:
    yesterday it was working all the time, today it seems it
    was switched off most of the time.
  10. lg_cap


    Score : clx

    Seems the program trading is a long program.
    I wonder if it get switched off when the stock sells off.

    Missed the sell off at the close.
    #10     May 21, 2010