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GoodPunk6's Trading Journal
- Thread starter GoodPunk6
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Do you have a mentor at your office who watches & helps?
Quote from TenaciousDoll:
Do you have a mentor at your office who watches & helps?
Yes and No. I've already been trading for over 3 months so I'm no longer being mentored. Watched, yes. But management lets you make your own decisions and incur your own losses. That's obviously the right way to learn. Every now and then, if I'm having a bad day they'll come over and motivate me. But at this point, that's about it. It's probably better that way anyway.
i'm not tryna discourage you or anything, and it's cool that you're satisfied with HLV's deal. the only thing is, we've had alotta rebate traders in our office come and go. when they leave, they always feel used. they think it's cool that they didn't have to put up any money, but then realize they just wasted a year of their lives a) not learning how to trade, and b) not making any money while they're not learning how to trade.. while the broker made tens of thousands off of them.Quote from GoodPunk6:
I get a cut of my net. But I don't mind at all. They put up the money, I put in my time. It's really a fair deal.
As far as trading higher beta stocks go, I don't think I'm ready for it to tell you the truth. I want to make sure that I'm profitable, on a consistent basis, trading stocks like NT, LU, and CPN. Once I feel really comfortable trading those stocks, I'd like to move onto stocks that move a little more. But that will come with time.
NT, LU, and CPN don't move like the stocks you'll eventually wanna trade. you can't really "learn" how to trade them because trading in such a compact range, they move independent of support, resistance, and the futures. like Zen said, if that 15,000 share short "shot" up a couple cents, and you have to bang out a market order for a 3 cent loss, that $450 down the drain, and a 1, maybe 2 month setback?
ask them if you can start trading normal stocks. even if it's just 100 or 200 shares at a time. i'm pretty sure they're gonna say no 'cuz a couple hundred shares doesn't generate the $$ like those 5,000 to 15,000 share, 1 penny-movin' cash cows do, but it's worth a shot. you'd benefit in the long run.
anyway, good luck, and good trading.
Quote from SammySOESa:
i'm not tryna discourage you or anything, and it's cool that you're satisfied with HLV's deal. the only thing is, we've had alotta rebate traders in our office come and go. when they leave, they always feel used. they think it's cool that they didn't have to put up any money, but then realize they just wasted a year of their lives a) not learning how to trade, and b) not making any money while they're not learning how to trade.. while the broker made tens of thousands off of them.
NT, LU, and CPN don't move like the stocks you'll eventually wanna trade. you can't really "learn" how to trade them because trading in such a compact range, they move independent of support, resistance, and the futures. like Zen said, if that 15,000 share short "shot" up a couple cents, and you have to bang out a market order for a 3 cent loss, that $450 down the drain, and a 1, maybe 2 month setback?
ask them if you can start trading normal stocks. even if it's just 100 or 200 shares at a time. i'm pretty sure they're gonna say no 'cuz a couple hundred shares doesn't generate the $$ like those 5,000 to 15,000 share, 1 penny-movin' cash cows do, but it's worth a shot. you'd benefit in the long run.
anyway, good luck, and good trading.
I wouldn't say that NT, LU, and CPN move independently of support or resistance because they do. It tends to be at every .x5 or whole number. Recently, $3.06 was a huge number of support for NT. No matter how much that stock sold of it couldn't get throught that number. It did once, but it wasn't for long at all, maybe an hour or so. There is a SLIGHT (Believe me, I mean SLIGHT) corollation to the futures with these stocks. These stocks have very low betas so a gain of 3 points on the contracts is about a 1 cent move in these stocks. Scalping is a very active strategy which is cool because I pay rock bottom commissions. Even if I began trading more volitale stocks, I'll still be paying the same in commissions. In fact, this wednesday, I'll be taking a class at work on how to trade higher beta stocks. So, I actually will be trading stocks that trade a normal volume (3-4 million a day).
I appreciate your concern Sammy, it seems that you have followed my journal for quite sometime. Will you be at the trader's expo in NYC in Feb??
oh, okay.. sounds good. i guess i'm not too familiar with those stocks move.Quote from GoodPunk6:
I wouldn't say that NT, LU, and CPN move independently of support or resistance because they do. It tends to be at every .x5 or whole number. Recently, $3.06 was a huge number of support for NT. No matter how much that stock sold of it couldn't get throught that number. It did once, but it wasn't for long at all, maybe an hour or so. There is a SLIGHT (Believe me, I mean SLIGHT) corollation to the futures with these stocks. These stocks have very low betas so a gain of 3 points on the contracts is about a 1 cent move in these stocks. Scalping is a very active strategy which is cool because I pay rock bottom commissions. Even if I began trading more volitale stocks, I'll still be paying the same in commissions. In fact, this wednesday, I'll be taking a class at work on how to trade higher beta stocks. So, I actually will be trading stocks that trade a normal volume (3-4 million a day).
I appreciate your concern Sammy, it seems that you have followed my journal for quite sometime. Will you be at the trader's expo in NYC in Feb??
yea, i'll be at the expo. i look forward to it every year, but for one reason or another, never end up going. i'll definitely be there this year.
WHAT A SHITTY FUCKED UP DAY!!!! I HATE NT SSSSSSSSSSSOOOOOOOO FUCKING MUCH SOMETIMES!!!!!!!! ;KLAS;LKSDAJQWRUQWURQ7UASDFJLKASLKJDFNFDAFSADJL;FA;AK;LJSDFA;LJKAJIAJAGJSD;LDJSIOJJHIOPOHI
I made $10 and spent about $50 making it.
I had 10 buy executions, 6 sell executions, and 73,000 shares traded.
L;ASLKDFLK;ASLDKLSAL;DFWQEPRU4RU23459QWOEUIO;OJIFJLK;AFMAFM;LSM;LQTYGAPOEGOAEG[Q34TUQ3FJPAEJGFJW3FJPVM0Q3UJ4T98UQ49TJQI3JF0Q3IFGP98Q3H4JRTFPIOMNRGJQ9834T8Q34Q93FJQ3FJPQ938H4TFP98YQ3PQ9TP9QG380980580U5T30U8
I made $10 and spent about $50 making it.
I had 10 buy executions, 6 sell executions, and 73,000 shares traded.
L;ASLKDFLK;ASLDKLSAL;DFWQEPRU4RU23459QWOEUIO;OJIFJLK;AFMAFM;LSM;LQTYGAPOEGOAEG[Q34TUQ3FJPAEJGFJW3FJPVM0Q3UJ4T98UQ49TJQI3JF0Q3IFGP98Q3H4JRTFPIOMNRGJQ9834T8Q34Q93FJQ3FJPQ938H4TFP98YQ3PQ9TP9QG380980580U5T30U8
GOOD MORNING!!!
I hope all is well out there in trading land! Yesterday was a bad day for me, not because I lost a lot of money, but because I just a) couldn't get filled, b) when I did get filled it immediately went against me, anc c) my P&L was $10. But I'm not bitter about. No sir, not me.....
Regardless, I feel good this morning. I'm motivated and determined.
Good Trading!
I hope all is well out there in trading land! Yesterday was a bad day for me, not because I lost a lot of money, but because I just a) couldn't get filled, b) when I did get filled it immediately went against me, anc c) my P&L was $10. But I'm not bitter about. No sir, not me.....
Regardless, I feel good this morning. I'm motivated and determined.
Good Trading!
Not a good day. Not even close. I didn't make a single profitable trade. I took a loss on a keyboard error. That's right,.....a keyboard error. At 1pm, my P&L was 0. I'm frustrated, and stressed......
I lost $50 and spent about $70 losing it. Not a good day at all.
I had 11 buy executions, 15 sell executions, and 77,830 shares traded.
I lost $50 and spent about $70 losing it. Not a good day at all.
I had 11 buy executions, 15 sell executions, and 77,830 shares traded.
hey 'punk - i have been following your journal - great work - sounds like you are having a tough streak the last few days.. - the only remark i can make from my own experience, what helps me is trading less and trading smaller size until i start winning again.. - from your posts over the last few months, you are definitely one of the few folks who can make it in trading, you have been making money pretty much from the start, very rare.. - so keep your chin up, it will get better soon, all the best in your trading.
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