My Journal to profitability

Discussion in 'Journals' started by wiesman02, Feb 5, 2008.

  1. Just started at a prop today. Very confident in my system. I have a clear edge on the market. I just need to adhere to my strategy.
  2. Well, i started posting on the 2008 p/l journal, but i'd rather have my own thread to track my progress.

    First day lost $770. Stupidest trading ever. Was bloody nervous at the start. Started off down $250, and never really recovered after that.

    Left $430 in profits on the table, b/c i failed to adhere to my exit system when I have a profitable trade.

    Lost $810 from entering positions that were against my system.

    Had I traded how I should have, I'd have been up $470.

    Instead, I'm down $771 for my first day.

    Still confident in my trading. Just stupidity on my part.
  3. What market are you trading? Pretty intense day to start trading!
  4. Trading equities. The volatility wasn't what got me. I defeated myself. Plain and simple.

    Pyschology. Accounted for $810 worth of loses and $430 worth of profits. Won't let it happen again.
  5. Weisman, wake up tomorrow ready to fight. Use extreme, and I do mean EXTREME patience and wait for your triggers. You have a plan, just trade that plan. It's this or go work for "the man." Which do you want? Just get up and execute the plan. Leave the nerves at home, it's just money.

    Everyday I get presented with triggers that don't fall into my plan. I can't tell you how many times I have to tell myself, "That's not your trigger." Patience and discipline -- that's all that really matters. Let us know how you do tomorrow.

  6. Very true, and excellent advice. I finally found a way to avoid trades that are not my trigger. I trade on the simulator for those trades I want to take while I am waiting for MY trigger to come about.

    I keep track of simulator trades and determine if they should be incorporated in my system.
  7. Down $543 today.

    First trade of the day, caught a top and lost $133. That set the tone of the day apparently.

    3 Biggest losers were loses of $230 and $140 and $133. Each of those I should have cut at $100 loss. They accounted for $503 worth of loses.

    Still not totally adhering to my strategy.

    But I did decide to tone it down and only trade 100 share lots from now on. If I'm going to trade like an idiot then I'm not going to trade big.

    I was down $620 by 11:45.

    Then I switched it to 100 share lots and did quite well. My trading performance was 17 winners, 8 losers. 1 loser I lost $46 on and that was b/c I got stupid and traded 300 shares of a $25 stock instead of adhering to 100 share lots. Every other loser I lost no more than $17 on.

    W/o that screw up, I'd have been up $125 w/ 100 share lots. Oh well.
  8. There was your first and last mistake " never really recovered "
    Your mind was not set up to trade, but rather, fuck, now I must get my $250
  9. BRO. stop right now, you are in the road to destruction

  10. I don't think so. I just need some time to adjust. Soon as I started trading small, I was doing well.
    #10     Feb 6, 2008