If anyone is reading this, this is more for me than you haha. I am been trading for about 4 months, and figure I should be keeping a journal. Although I could do this on a Microsoft Word Document, I figure it wouldn't hurt to do it here. Maybe I will get some responses, maybe some people will get something out of it, or maybe no one will respond, but it will force me to write in the journal daily. There I will start todays journal with my main strategies: OPGs Pairs Dividend Strategies MOCs These are the four strategies I focus on, and I will go through each one daily to recap what I did (right and wrong). My main weakness is overtrading. I am trying to figure out the easiest way to just sit on my hands when I need to. The startegies work great for me (well for the most part), the problem is during slow times I overtrade the pairs etc, when I should just wait for them to reach my target. My main strength, is coming up with new ideas and trying to test them in my free time, some work, some dont, but hey, it keeps me busy. Anyway, I will start all this tomorrow. Have a good night. Dood
-739 (including commissions etc.) Openings: Nothing special - 3 fills, 2 winners, Break Even more or less. Pairs: This was the killer today. Lost 550 on one pair, I let it get away from. Basically I overtraded it as oppposed to just letting it move out and adding a layer when I needed to. If I had sat on my hands, I actually would have made over half of it back. MOCS - 2 losses. I thought a few of the MOCS were going to flip, so I didnt do the MOCS themselves, I shorted two buy MOCS, way to early. Lost 100 bucks. Fixes for tomorrow: SIT ON MY HANDS, trade, but only what is given to me. Also, MOCS I am not going to touch until after 3:53 if I am going to do them. I didnt realize how early I had gotten into trades until after I looked over my trades for the day.
= -430 ( Net Comis) Opg: One fill for break even. I canceled because the market moved a lot from where I put my orders in, I probably should have kept them in though, because it worked for everyone else. Pairs: Pairs were decent except for one that had overnight night earnings I didnt know about = which equated to -350. MOCS - bad yet again, I think I will not do anymore than 100 shares until I start being more consistent. FIXES: Still intraday trading out of boredom a bit, not as bad, but I still need to stop non-the less. Also no more than 100 shares on MOCS.
-530 net commis OPG - One fill. lost 9 cents. Market was turning, got out at the right time. The best of a bad situation Pairs: Pairs were good, accept a few, once again I had one pair go out big time on me, man i cant wait till they come back in. MOCS: Didnt do any, finally I did something good. FIXES, on the pairs that go out on me, sit tight, it woulda turned out better, and i will write 5 notes on my computer, no intraday trading momentum unless I have a darn reason. This is my worst streak ever for the week, I need to have a better week next week.
01-26-08 Total +997 (Net Commissions) OPG: No fills today. Weird Pairs: Pairs were great today, got lucky on some news, and I was patient like I have been trying to be. MOC: Didnt do any MOCS but traded MCD into the close. Fixes: I would love to do this every day lol.