Beginning Prop Trader progress

Only was able to trade from open until noon... As you can see, not a great morning.

SMDI 09:37:21 4 1.20
SMDI 09:37:21 96 30.00
FWLT 10:03:18 100 33.00
CNQR 10:18:27 100 19.00
AGEN 10:37:21 100 19.00
IVN 10:56:22 100 -8.00
BIVN 10:56:22 100 -16.00
ININ 11:35:07 100 -48.00
ININ 11:35:08 100 -76.00
ININ 11:35:08 100 -100.00
ININ 11:38:23 100 -118.00

As you can see, ended the day down $118
 
Your rate is absolutely awful. For the volume you do now it doesn't matter, but you will see once you begin to do even over 10k shares a day that it will kill you. And, if they are like most chop shops, they will hassle you the entire way if you try to get your rate dropped.

Just be aware of it now so that you are more capable of negotiating when you start to see how your account, and thus your psychology, begin to diminish as your trading increases.
 
2/24/06

GROW 37.00
MOBE -10.00
PLLL 19.00

Total: $46

End of first week of trading. Been taking it slow and plan to trade only 100 shares at a time for at least another week.
 
I take it you are posting gross profits. Don't get caught up in gross profits. They are pretty much meaningless. You always have to consider commissions as part of your P/L...especially at your high rate.

Also, you mentioned that you might increase shares soon. I recommend not doing that until you are consistently profitable. Many large draw downs come after short periods of success. If you think you have built skills that will allow you to take profits then it is understandable to want to trade more to increase your profits. If that is true then those skills will always be there and it doesn't matter if you miss out on some profits because you can come back at any time and make some money. With that said, wait a little bit before increasing shares just to make sure it wasn't just luck or a streak.


Good Luck.
 
I see what you mean, commissions will be a big part. I plan to post gross for the day and then at the end of the month post net...

Didnt trade Monday because of class all day.

Todays trading: 2/28/06

JOYG 10:12:29 100 24.00
JOYG 10:18:06 100 41.00
EPEX 10:51:33 97 47.79
EPEX 10:51:33 3 47.97
EPEX 10:51:36 11 51.05
EPEX 10:51:36 44 63.37
EPEX 10:51:36 45 80.47
EPEX 10:51:53 55 100.82
EPEX 11:18:20 70 93.82
EPEX 11:18:32 30 90.52
OXPS 11:29:49 100 111.52
IVAC 11:30:29 100 105.52
JOYG 11:46:58 100 110.52
ESCL 12:28:25 44 118.88
ESCL 12:28:25 56 127.28
JOYG 12:30:42 100 109.28
JOYG 12:30:42 100 92.28
ESCL 12:57:47 100 117.28
ESCL 12:57:47 100 142.28
ESCL 13:03:44 200 202.28
ESCL 13:17:46 100 191.28
ESCL 13:31:30 100 174.28
IVAC 13:39:45 100 188.28
LCRD 15:02:28 100 206.28
GTXI 15:46:04 100 234.28
ININ 15:53:24 200 220.28
MOBE 15:59:03 100 229.28

Up $229.28
 
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