Frustrated

H

Hamb-ltrd

I am a discretionary trader and my goal is to trade the ES in the near future.
For now I am trading SPY to get the feeling.
Even though I traded part time in the 90’s, I still have a lot to learn.

Well I trade 100 shares of SPY for 5 weeks. I can go as high as 2000 shares
but I would rather increase my size gradually if and when I show a profit.
My plan is to add 100 shares for every $500 profit and also decrease accordingly
when I have a loss.

I made about 350 trades so far with only 100 shares.
I am $150 net, my commissions plus taxes about $500.
It looks like I am working for $30 a week and my broker gets 3 times that.

I am very frustrated and I search for solutions. I keep a trading diary and also
I also an Excel file with some statistics about my activity.
I am thinking to reduce my trades but I am not sure if that is the solution.
Win/Loss ratio is 2:1. I don’t know if I can improve that.
Definitely I have to work on my average loss, which will help a lot.
Increasing my size, providing I keep the same results, will do it.
I explained above how I plan to do it.

Any other ideas?
PM me if you need further statistical details.

I would appreciate any constructive comments.

Regards

Hamp
 
lots here wont agree with this but i say forget the spy and es for now. its too hard for beginners. small mo mo stocks is where the money is right now.
 
Quote from Hamb-ltrd:



I made about 350 trades so far with only 100 shares.
I am $150 net, my commissions plus taxes about $500.
It looks like I am working for $30 a week and my broker gets 3 times that.


Any other ideas?
PM me if you need further statistical details.

I would appreciate any constructive comments.

Regards

Hamp
More...


Just a thought, perhaps you could review your past trades to see if there's a corralation between the time of day and your W/L %

It looks to me that you make an average of 14 trades a day? If this number is close, then maybe its too many to properly focus on each and every trade.
I would think that you could make 30.00$ a week making less than 1 trade a day on average.

sulong
 
If you are net positive after 5 weeks of daytrading SPY, then you are doing just fine. Since you are net positive, why not switch to ES now? I have been trading SPY/ES for nine months and am not yet consistently profitable. There have been times when I have experienced severe frustration, only to learn what I needed to learn and regain a positive attitude. Unfortunately, there is lot of stuff I needed and still need to learn. :eek: :eek:

Good Luck
 
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