Resumption of Daytrading

Discussion in 'Journals' started by nursebee, Feb 9, 2016.

  1. nursebee

    nursebee

    The purpose of this journal is to assist in keeping track of my success or failure as I seek out daytrades in vehicles I am familiar with, typically stocks, though index ETF or volatility ETFs will be considered. I'm open to critique but expect nobody would be harder then myself. I've lost large sums of money DTing years ago. THe bulk of my money is in 401K, IRA, RE, Roth so the cost of failure is little. The method I expect to use would be sitting out first hour, fade the am action, and also participate in end of day moves, typically after 1430 hours. Having said that, I break the am rule regularly, and have had to sit through massive pain waiting for end of day. YTD, I am up, high win rate, too much risked, but it is with stuff I think I know.

    I do not seek a daily gain in amount or percent.
    This is an account that owns shares in a company that I will apply gains/losses to buy or sell more core shares to hold for years.
    This is a small account, started with 5K, adding about 1K per month.
    I will not make live calls, just post mortems.
    I will leave money on the table.
    I am limited by PTD rules, might only make a few trades each week, normally when not at work.
    I apply fuzzy math, generally taking into acct transaction costs, certainly not ignoring them.
    I am biased to only long the core holding.

    This year I have done the following so far.
    1/ 7 added 1000, bought 141 shares@7.2
    1/12 bought 500 shares XIV @21.05, sold at 21.19 +$70
    1/15 bought 500 XIV @19.16, 300 sh @19.13, sold all at 18.69 -$382
    1/15 sold 100 core shares to make up that loss @6.51
    1/20 buy 2000@5.57, 300@5.52, sell all @5.61 +84
    1/21 buy 2000@6.24, sell @6.33 +178
    1/25 buy 1100@5.935, 900@5.934, sell all @6.1833 +484
    1/26 buy100 core @5.295 and 100@5.2999
    1/28 Buy 2000@4.825, sell @5.141 +600
    1/29 buy 100 core @5.02

    January 2016 $1034. Discussion: Some of these and subsequent trades were down this entire amount before being profitable, mainly due to my poor timing/breaking rules. Shame on me.

    2/1 buy 2k@5.014, sell @5.091 +140
    2/3 buy 1k@4.705, 1k@4.515, 1k @4.47, sell 100@4.59, 2900@4.595 +68
    2/4 add $1400, buy 375 core shares
    2/8 buy1k@4.679,1k@4.66, 700@4.68, sell @4.736 +138
    2/9 Chart attached, bought too early per rules, added, it worked, Held for maybe 15 min at most, very comfortable
    Long 1K@4.447, 1k@4.502, sell @4.726 +483
    Month to date $829
    FYI, as I write this total account balance is $7,051, holds 1352 shares

    2.9.16.PNG
     
    VPhantom and Baron like this.
  2. Handle123

    Handle123

    I hope this time your account goes up up up.
     
    cbc1 likes this.
  3. Do you have a system or methodology or are you trading from the hip? Are you successful in simulator mode with realistic parameters?
     
  4. nursebee

    nursebee

    No parameters.
    Not quite from the hip.
    Never sim mode.
    No system.

    Just lots of screen time.

    I thought about futures again but reread the 3rd edition of Teweles/Jones THe Futures Game, especially Part 3, Chapter 11 "Who Wins? Who Loses? and Why?" and thought I should stick with what I know.
     
  5. o_O I'll be watching this. I hope you succeed.
    [​IMG]
    Keep things simple. Look at the big picture of things.
     
  6. Which is?

    Since you keep this public, I assume you're open to constructive criticism.

    Let me just say that I'm skeptical to you being successful based on what you wrote. I see you talk about breaking rules and sitting through massive pain. No simulator testing. Not quite from the hip (but pretty much?).

    Does it sound like a professional approach to you? You've traded live in the past. What's different this time?
     
  7. nursebee

    nursebee

    LF- what qualifies you to provide constructive criticism?
     
  8. Absolutely nothing.

    My questions are still on point and your unwillingness to answer them or provide satisfactory answers sadly predicts the outcome of this journal, but I hope I'm wrong.

    Best of luck anyway.
     
  9. nursebee

    nursebee

    The edit button on my first post appears to be gone.
    Let me splain something as I am a bit of an ahole when it comes to life and the markets.

    If I search for a new car to buy, sure, the opinion of the common man means something to me. But I am not going to buy a car based upon what someone else thinks. I am going to test the car for myself and perhaps utilize objective means, like CR, where objective facts can be gleaned.

    If I have a medical problem, sure I might search out an answer online by inputting my symptoms, or asking the common man what they think of it, but I am going to get things examined by a trained professional, with measurable data such as xrays and labs.

    I might gauge my health by how good my spouse says I look, but I am still gonna step on the scale for objective data.

    When I engage in real estate investing, I stay away from the people that say it can't be done and rather talk to people that own 12 properties, or 27 properties, and I do my own math to learn the ROI.


    So when it comes to the market, this forum, my investing: I take what anyone says as being from the common man, an ignoramous, not worth listening to. I've read of posters here getting feedback that was helpful, perhaps even see some feedback that might be good. But for me to listen and take heed, I GOTTA KNOW how you do in the market. And few people share anything like that: http://www.elitetrader.com/et/index.php?threads/how-was-your-2015.296845/

    In future trade related posts I will likely discuss more of the conditions surrounding each trade.
     
    marketsurfer likes this.
  10. nursebee

    nursebee

    Bought 100 for core @4.64
     
    #10     Feb 9, 2016