The trades I list, I put down the time and price I got executed in for the most part. If you look at my early posts, you'll see I did that to help see where I made the mistake or where I did well. A lot of the trades I post are good trades that could have been better just by looking at the chart, or just bad trades. The past two days of my journal have been not as detailed, just b/c this journal stuff gets a bit dull, especially when you've got better things to do. Good thing I don't get paid for this.
DaytraderDave's Trading Journal
- Thread starter DaytraderDave
- Start date
Dave:
SK confused you with Dottom, who I believe is a newbie trader working for a competing firm but talked very big on our threads, asked a lot of high horse questions.
Frankly, unless your friend trades something like a hedge fund, 8 out of 12 months positive in a year is almost unacceptable unless the four down months were all summer months. If you want to make any real money you almost can't afford to have more than one down month, at most two, and they better be summer months. As a matter of fact, if you want to be top tier in day trading, you can not even get sub-par months on big months, such as Jan-April and September of 2001.
UKSteve:
***We aren't trying to steal your system!! And I very much doubt that anyone has a 100% original system that hasn't been publised in a book somewhere.***
You are wrong on that regard. I very much doubt that any book ever published a 100% working system. All of them provided nothing more than most basic techniques that left out all the important details for the strategy to be truly successful.
And when SK came on board I was shocked how much he gathered from my own journals, and the more skilled a trader gets more details he left out about the way he trades. It is a natural progression.
SK confused you with Dottom, who I believe is a newbie trader working for a competing firm but talked very big on our threads, asked a lot of high horse questions.
Frankly, unless your friend trades something like a hedge fund, 8 out of 12 months positive in a year is almost unacceptable unless the four down months were all summer months. If you want to make any real money you almost can't afford to have more than one down month, at most two, and they better be summer months. As a matter of fact, if you want to be top tier in day trading, you can not even get sub-par months on big months, such as Jan-April and September of 2001.
UKSteve:
***We aren't trying to steal your system!! And I very much doubt that anyone has a 100% original system that hasn't been publised in a book somewhere.***
You are wrong on that regard. I very much doubt that any book ever published a 100% working system. All of them provided nothing more than most basic techniques that left out all the important details for the strategy to be truly successful.
And when SK came on board I was shocked how much he gathered from my own journals, and the more skilled a trader gets more details he left out about the way he trades. It is a natural progression.
SK confused you with Dottom, who I believe is a newbie trader working for a competing firm but talked very big on our threads, asked a lot of high horse questions.
Hitman,
I am not a newbie trader and am not looking for a firm. You emailed me thinking I was at Andover and invited me to switch to WorldCo. In case you didn't understand that my non-response was a no, "no thanks".
I never "talked big" on your threads, I only pointed out specific points and asked poignant questions, many of which were never answered by you or SK but only got specious, round-about responses, or none at all.
I question the dogma you accept as truths and your rational when I feel it is incorrect or feel there is an alternate perspective that you have not considered. I have no other motivations (i.e. not working for a competing firm).
I think anyone who has read my posts will agree I prefer to deal with facts than conjecture.
Hitman,
I am not a newbie trader and am not looking for a firm. You emailed me thinking I was at Andover and invited me to switch to WorldCo. In case you didn't understand that my non-response was a no, "no thanks".
I never "talked big" on your threads, I only pointed out specific points and asked poignant questions, many of which were never answered by you or SK but only got specious, round-about responses, or none at all.
I question the dogma you accept as truths and your rational when I feel it is incorrect or feel there is an alternate perspective that you have not considered. I have no other motivations (i.e. not working for a competing firm).
I think anyone who has read my posts will agree I prefer to deal with facts than conjecture.
HITMAN:
Yeah I fully appreciate that but I am trying to say that learning S&R, Reversal patterns, double tops/bottoms, etc is fairly straightforward but its the entry's and exits and psycology that turns someone who knows the mechanics into a successful trader. What I'm trying to say is that if we can see your entries and exits we can try to piece together what was running through your mind when you were in the trade. Thats not to say I would carbon-copy your style but I am sure you're not the first won't be the last to use that style.
I'm gearing my style more towards swing trading, holding 1-3 days (if i can hold off the trigger!lol) but I learn a lot from reading here and your journals about things you would say are basics like tape reading, top down approach, bullets, etc...
Regards
Steve
UKSteve,
I hope you don't rely on your observational skills for trading, cause if you do, your a lost cause. Look at what I have said throughout my journal. Early entries showed pretty exact time and entry points along with exits. No I didn't go down to the second, cause most charts won't show up to the second when looking back.
Second, the point you brought up, any yahoo can say I made this much and that much on that day, I agree. Hell I could be doing this to jog my own ego, CAUSE I SAID I FLATED the last week. Yeah, really sounds like I'm trying to stroke my ego and impress everyone by breaking even. I could care less if you tried to steal my trading style, I didn't even call it a system.
Do I make money, yes. How much? None of your business. Would it be your business if you paid me? Yes. But all I'm getting from you is a bunch of questions that I have already answered, or getting feedback like, by not putting your P/L your lying. Get real... by putting some number on the board is going to make me more believable, then telling you I was flat for the day. And by the way, I've already defined what I mean when I'm flat, up and down. And your comment on catching fake news stories, I did play them, but IF YOU READ THEM, you would see I made very little on them, as opposed to saying I got out at the top. So UKSteve, before you start throwing out why you think people deserve an explanation...READ.
And what is this with everyone thinking I'm someone else. Man does that get old. I will try on Monday to bring more details on my trading for the day, like my early posts... but remember I don't get paid, I just do this to stroke me ego, right UKSteve?
I hope you don't rely on your observational skills for trading, cause if you do, your a lost cause. Look at what I have said throughout my journal. Early entries showed pretty exact time and entry points along with exits. No I didn't go down to the second, cause most charts won't show up to the second when looking back.
Second, the point you brought up, any yahoo can say I made this much and that much on that day, I agree. Hell I could be doing this to jog my own ego, CAUSE I SAID I FLATED the last week. Yeah, really sounds like I'm trying to stroke my ego and impress everyone by breaking even. I could care less if you tried to steal my trading style, I didn't even call it a system.
Do I make money, yes. How much? None of your business. Would it be your business if you paid me? Yes. But all I'm getting from you is a bunch of questions that I have already answered, or getting feedback like, by not putting your P/L your lying. Get real... by putting some number on the board is going to make me more believable, then telling you I was flat for the day. And by the way, I've already defined what I mean when I'm flat, up and down. And your comment on catching fake news stories, I did play them, but IF YOU READ THEM, you would see I made very little on them, as opposed to saying I got out at the top. So UKSteve, before you start throwing out why you think people deserve an explanation...READ.
And what is this with everyone thinking I'm someone else. Man does that get old. I will try on Monday to bring more details on my trading for the day, like my early posts... but remember I don't get paid, I just do this to stroke me ego, right UKSteve?
DaytraderDave,
I enjoy your journal, just as I appreciate anyone who is willing to put up any part of their trading day, since the vast number of traders on this board do not(including myself). No matter how hard you try, you will probably always have critics and detractors. My suggestion is just to keep posting whatever you want to post, because in the end you are probably the person who is going to benefit the most from these journals.
Htrader
I enjoy your journal, just as I appreciate anyone who is willing to put up any part of their trading day, since the vast number of traders on this board do not(including myself). No matter how hard you try, you will probably always have critics and detractors. My suggestion is just to keep posting whatever you want to post, because in the end you are probably the person who is going to benefit the most from these journals.
Htrader
DayTraderDave
Look I don't want to be seen as a detractor. I was just trying to explain why you were being questionned by Stockk. It seems every new poster gets beaten down with a very large stick and there I was doing the exact same thing.
Carry on posting your journals as you will gain a lot from examining how you're doing and it will give some insight to newbies and hopefully you'll get some (constructive) criticism from it.
Don't listen to me - I'm British...........
UKSteve
Look I don't want to be seen as a detractor. I was just trying to explain why you were being questionned by Stockk. It seems every new poster gets beaten down with a very large stick and there I was doing the exact same thing.
Carry on posting your journals as you will gain a lot from examining how you're doing and it will give some insight to newbies and hopefully you'll get some (constructive) criticism from it.
Don't listen to me - I'm British...........
UKSteve
Where are you now? :eek: