12 trades ( 5 winners / 7 losers) shares traded: 1580 Stocks traded: AAPL, BIDU, GM, GS, RIMM average winner: 67.00 average loser: 49.48 commission: 72 todays P/L -132.90
Doesn't look like you are achieving your daily goals of $2-$450/day. To achieve this you MUST have days where you earn DOUBLE to offset your losing days. Consider this...R U wanting to daytrade to make the most amount of money in the least amount of time...or purely for the excitement? If you want to make money...consider how much you could have made if you had bought & held both GRMN & VDSI without any losses and without so much time invested....15-20% increase in your equity in the last 30 days since you first started this thread. VDSI will soon break out for another 10% blast and GRMN & possibly RIMM will continue to chugg along at an average .5-1% increases per day. Just my 2 cents. Good Luck!
Cash, I do not mean to be rude, but honest, these are some shitty entries. I need to come over there and whack your knuckles with a ruler to get you to stop taking these high risk trades. Really. You have what you need to trade here, but you are hesitating during the lower risk areas then when you know more it's too late for an entry. I would love to just go over these personally, and explain what it is you are doing wrong. That JCP chart has money all over it; you should not be losing there.
Hi, cashmoney69 I hope you are not too tired. Trading many hours and writing the journal... I just joined the Forum and quickly browsed interesting threads. So maybe I may have overlooked something important, but when I see your results, I feel your commissions are too high. I think somebody suggested to switch to another broker. Doesn't that help? If you are busy, just ignore the newbie... Thanks.
Yes, people have said to switch to IB, and I'm not going to do that. I like the broker I'm with, except I dont get the cheaper commission unless I trade a minimum of 500 share lots. I told my broker more than once that I wasn't comfortable trading that kind of size. IB seems to be the Mcdonalds of brokers..very cheap, customer service sucks, and I dont like their platform. Just do a search on the topic, you'll see.
10 trades ( 3 winners / 7 losers) commission: 60 todays P/L 199.5 If I can't make at least 750.00 back by Oct 27 of next month, I'm closing this account. oh well, i tried.
Hey Cash, Good journal so far. Just want to say a few things that may inspire you to day trade just a bit differently. Foremost, you're trading AAPL, GS, RIMM. I think these stocks are best left alone for someone at your experience level. Please don't take that personally, but, you are trading these stocks against serious Pro's day in day out. What might be more consistent for your P/L is if you start filtering a basket of stocks rather than focus on the big boys. If you chose to specialize on 6-7 stocks then these are definetely ones you want to work your way up to via starting with lower priced/lower vola stocks. Mike
2 trades ( 0 winners / 2 losers) commission: 6 ticket fee 16 contract fee 2.50 nov 95 put ( lost 474.00 ) total: 24.50 todays P/L 528.50