GoodPunk6's Trading Journal

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Quote from NasdaqTrader:

For listed stocks,there could be floor brokers or the specialist that keep bidding or offering the stock,but it won't be reflected in the size shown since they don't want to show their hand.The specialist might show a 100 share bid,but you might have a floor broker that has a million shares to buy,but doesn't want to show his hand since it might drive the price up.On nasdaq stocks,the real size also might not be known,since market makers and ecn's can disguise their true size with hidden and reserve orders.
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Well, it makes sense. I'll try to incorporate that knowledge into my trading strategy today.

I feel pretty good today. I noticed yesterday that NT tanked and then went sideways while the markets were rallying. I think that NT would be a good short at the open if the indicies come in. Hopefully I'm right.
 
wow. Well, I decided to scalp NT today. I lost $60 this morning. As you could imagine, being down this much 15 minutes after the open took a bit of a toll on me. But I realised that I haven't been trading very well this week and so today, I was a bit more resilient to my loss. I simply moved onto the next trade and concentrated on the prints. I was able to make $54 but it cost me $140 to do it. I think tomorrow will be better.

I know why I get so upset after my losses. It's my absolute NEED to be successful. I want to day trade for a living. And when I lose, I feel like it's a defeat. Like I just made it that much harder to become profitable. Almost as if, the line to becoming successful just got further away. I guess I just need to chill out.

Today's lesson.......don't trade the open until you're quick enough. Trading the open is how I was able to lose so quickly. Thus setting a mental barrier and making it more difficult to concentrate. Identify Significant reference points. Find where buying and selling have previously occured.
 
Ok guys,

Today started off on a good note. Today's weaker than expected GDP report will probably point to a lower open. Is it safe to say that this will determine today's trend? I'll know by the end of the trading session.
 
Quote from GoodPunk6:

I know why I get so upset after my losses. It's my absolute NEED to be successful. I want to day trade for a living. And when I lose, I feel like it's a defeat. Like I just made it that much harder to become profitable. Almost as if, the line to becoming successful just got further away. I guess I just need to chill out.
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There in lies the secret - I think one must get over the NEED to win.

Re-read what you wrote and find a way to implement the chilling out and just consider the loss as the cost of doing business.

Make 'em pretty, Chris
 
Wow. Well, today was the best day I've had so far. I made $140 and spent about $60 making it. I've realized that the prints are EVERYTHING! I watched them like a hawk today. In fact I feel like I may have found a pattern in the prints that point to what side of the market I should be on. I'm glad today played out the way it did. I needed to be reassured that I'm looking at things the way I need to be. Have a good weekend!
 
Hey guys,

Well, I had a good weekend and I feel good about today's session. I know to keep my eyes on the prints in a "Hawk" like fashion. I need to keep applying what I've learned last week to remain successful. More importantly, I'll keep my mind off of what I've made and keep my mind on the current trade. I know that I need to keep my mind off of my losses and just move on to the next trade. See you guys after the close.
 
hey guys,

Well, the action wasn't great today because of tomorrow's election. It's about 15 min before the close and I made $15 and spent about $35. Either way it was a shitty day for the market.
 
Hey guys,

Well, today is election day! I don't think that today will be any better than yesterday, but I'm hoping for the best. I think that today will be light on volume and flat for most of the session.
 
Wow. What a roller coaster! At about 1pm today the markets sold off......you better believe that I got burned. I was up $56 before then and now at the close, I'm down $56! I spent $65 doing it. What a screwed up day!
 
DAMMIT!!

Bush may win the stupid election. I hate that bastard.

Either way, I have to remember what's important here. Keep watching the prints, identify and remember significant reference points, and trade only when I see an edge.
 
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