Trading - like riding a bike?

Discussion in 'Journals' started by oldschool, Apr 26, 2010.

  1. We're going to find out.

    Honestly, I never thought that I would ever write a public journal. But after following some other journals and speaking with a few members, I thought it might help. So with that said, I hope we all get something out of it. As long as this is a productive journal, I'll update it. As soon as it's no longer helpful, I will stop. As with most journals, time will tell which way this goes.

    Trading background:
    *Got bit by the bug in '87, post crash - especially after reading Mkt Wizards and about Tudor Jones, et al.
    1- Part time retail 1989 - 1994 (futures, stocks, options)
    2- Full time prop 1994-2001 (stocks)
    3- Stopped daytrading after 9/11 for personal reasons.
    4- April, 2010 - back on the bike. 9 yrs? :eek: (stocks @ prop - trading remote)
    5- I was profitable during my FT trading years. I really think that I was just in the right place at the right time. Anyone with an IQ of a doorknob should/could have made money during those years (just my opinion of course). I never blew up while trading, but like many traders, came VERY close a few times.

    Journal purpose:
    1- I hope to get back up to speed with help from members willing to share. It's been a while and I have a lot of catching up to do. :confused:
    2- I also hope the journal will help some of you thinking about remote trading, trading at a prop firm, etc... Just follow and read, you'll know pretty quick if this journal is for you or not.

    I will be writing mostly about my journey back to trading. Though I never took my eyes off the mkt since 9/11, I have not traded actively. The reasons are many, but all of them were mental/psyche issues. My office was across the street (NY Merc) from the WTC when they came down and had a huge impact on me. Simultaneously, I was also going through some personal/family issues. As most of you know, it's hard enough to trade you're in the zone, next to impossible when you're not. I just knew I had to stop. Let's just leave it at that for now.

    How I trade:
    I'm a K.I.S.S. kinda guy.
    As my username says, I'm old school. My trading learning curve went something like this:
    I was fortunate enough to meet some excellent traders during my time, and they were nice enough to teach me some old school tape reading skills and basic TA. Then I started writing filters/scanners using Insight and other like programs. I finished by writing VB in Excel - mainly for position management.

    Weekly updates - will post blotter and summary.
    That's it for now, I will post week one ending 4/23 a bit later.

    As always, all constructive comments/questions welcomed.

  2. blox87

    blox87 Guest

    Interesting story,

    Look forward to reading.


  3. I'm starting to think if DAYTRADING is even possible. I have seen some people here that are able to put profits week in and week out (NoDoji). They have admired me to keep trying. I have been trading for over 2 years. I used to trade penny stocks and I have recently started to trade bigboard stocks. Bigboard stocks are unbelievably impossible to predict, it seems. I have a vast knowledge of how market works. I never get greedy. I have tried many trading methods with no success... below is my daily PnL for the month of April, 2010. It's horrible. Should I start doing opposite of everything that I have learned in the past two years in order to succeed as a trader? I have tried trading the same stocks over and over, I have tried scalping, I have tried mean revision. Nothing works. It seems as if - it is me vs the market. Whenever I open a position, the market does the opposite. Makes me wonder.. is daytrading even possible? For example, POT.. I started shorting it in April.. The stock DID go down, but since I cannot hold a position over night (trade with a prop firm) I have been trying to DAYTRADE my shorts.. and everything I shorted the stock.. it turned against me..this is rediculas
    04/01/2010 -131.47
    04/02/2010 0.00
    04/03/2010 0.00
    04/04/2010 0.00
    04/05/2010 267.44
    04/06/2010 285.83
    04/07/2010 -682.18
    04/08/2010 -221.33
    04/09/2010 -10.22
    04/10/2010 0.00
    04/11/2010 0.00
    04/12/2010 269.04
    04/13/2010 -415.60
    04/14/2010 229.70
    04/15/2010 -576.33
    04/16/2010 -614.40
    04/17/2010 0.00
    04/18/2010 0.00
    04/19/2010 70.18
    04/20/2010 19.75
    04/21/2010 -203.11
    04/22/2010 -117.43
    04/23/2010 -200.21
  4. Dataa


    when a guy tells me he did retail and prop shop for 4-8 years total

    and then stopped for personal reasons

    that's bullshit

    you my friend BLEW UP, be a man enough to say it. I blew up too at one time

    so what

    move on
  5. The first 3 days were spent on a demo account to get used to LS.
    After 3 days on the demo acct, I went live on Weds - 4/21/10.

    After 9 yrs, I almost didn't recognize her.

    Nothing crazy obviously, but blotter's attached.

  6. Just ignore the thread, it's very easy to do.
  7. It's a tough business, period. Wish I had a more profound reply, but I don't. Follow what the successful traders on this board are saying (Lescor and a few others come to mind immediately) and try to incorporate their wisdom into your trading.
  8. Thanks Blox, hope we both get something out of it.
  9. lescor


    What the hell kind of reply is that?

    Oldschool, I look forward to your journal and hearing your experiences of now vs. then. GL
  10. Redneck


    Same here Sir

    #10     Apr 27, 2010