Trader P/L 2007

Traded more conservative after yesterday. Way less tickets, higher probability trades, better result.

 

+600
a good day

 

-24.00

I almost had an up day too!.

 

up 5 bucks

no need to post blotter for that

 

+1160.00

 

+4k to -8k lastday

+3k to -2k today

that -17k swing in two days is makes me feeling a bit Jihad'd!

 

up 3300 on 50k shares. unfortunately didn't capture my blotter this afternoon.

 

Nice touch for Sept 11....

 

Title, Some friendly advice ... I think I read this idea in Van Tharp's book and definitely abide by it. You should set some daily goals and then adjust during each day when you hit them. For example, my goal is to make +$500 a day. My loss limit is -$1000, if I hit it I'm done for the day (hasn't happened yet since I started posting to the P&L thread but I'm sure it will).

If I'm up +$500 for the day, my new low limit for the day is a move to +$100 (so I'm profitable that day no matter what). If I get back down to +100, I close out positions and call it a day.

If I get to +$1000 then I move my limit to a move down to +500, and if I get there I call it a day. (etc)

I don't like to quit for the day when I make my goal because I do believe in hot streaks / just being in tune with the market that day.

I obviously don't trade as big as you but I can't imagine taking a 12k swing in 1 day.

 

very wise. I'll try that, thx.