PL1 = loss of 5 points (83 to 78) on 6 contracts = -5*6*50 = -1500 USD PL2 = loss of 9 points (83 to 74) on 2 contracts = -2*9*50 = -900 USD PL3 = loss of 3 points (77 to 74) on 3 contracts = -3*3*50 = -450 USD Total loss = -2850 USD Account Equity = 54,275 - 2850 = 51,425 USD
Hello murrica, yes your comments are valuable My aim with this journal was just to get some practice keeping trades over multiple days and expressing my medium term views on the market. Its a pleasure to know that this journal alongwith all its limitations like being a paper journal etc. has inspired you to some extent. Feels good to know. You have very valid points about the emotions involved in real trading vis-a-vis trading a paper account and thus how replicable this journal's performance can be if this is attempted in a real trading account. I can tell you that at times I have felt the pressure of closing similar positions in my real account because I was losing few thousands in my real account. Whereas here, in this journal, I have let those positions on for 1-2 days more since I thought my multi-day view are more often than not correct. Even with all these limitations, to me personally this exercise has been very useful: 1) It proved to me that I can trade profitably with a multi-day horizon. 2) Because this was paper money, I felt at times a bit detached and it has helped me in keeping my perspective for the medium term. Feels good that you have found some value in this exercise too .
out 78 ....phew that was fast... 4*10*50 = -2000 loss No long 10 @ 78, out at 78.....will wait ...anyways its friday. account equity = 51,425 - 2000 = 49,425 USD
Markets have been choppy yesterday and today and have not shown any sustained momentum. My prognosis for the next week is that we are going lower however 81-85 area might be a good place to initiate fresh shorts. Not sure where did Santa go this time around ????!!!!!!:eek: :eek:
well it did and thanks for the forewarning but unfortunately i was on sidelines at least for this journal