GoodPunk6's Trading Journal
- Thread starter GoodPunk6
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I've mentioned it before but I'll say it again - you are doing really well and don't let people discourage you - I'll give you three reasons why I think you have made tremendous progress in a short amount of time:
1. I haven't seen a blow up day yet (you obviously have the discipline trade well). I consider blow-up 4 figures ++.
2. You are emotionally positive day in/day out. Even if it means posting some cheesy positive stuff in this journal every morning - YOU are setting yourself up for success.
3. Based on 2: losses don't emotionally disturb you. This is critical - losing correctly and with the right mind-set is 90% of this game.
People here who post garbage are losers in their own right and want to make you feel like shit because they feel like shit.
All I recommend is that you try different strategies to find what "feels" right for you.
Also, this is a steep and expensive learning curve and you are getting closer to the "hump".
Mike
1. I haven't seen a blow up day yet (you obviously have the discipline trade well). I consider blow-up 4 figures ++.
2. You are emotionally positive day in/day out. Even if it means posting some cheesy positive stuff in this journal every morning - YOU are setting yourself up for success.
3. Based on 2: losses don't emotionally disturb you. This is critical - losing correctly and with the right mind-set is 90% of this game.
People here who post garbage are losers in their own right and want to make you feel like shit because they feel like shit.
All I recommend is that you try different strategies to find what "feels" right for you.
Also, this is a steep and expensive learning curve and you are getting closer to the "hump".
Mike
You're right, I haven't blown up. I hope that I won't either because that would take a huge hit on my confidence. On the other hand, I don't think that I could let myself take that big of a loss.
My posts in the morning are cheesy?? That sux.
At this point losses and I are close friends. Yeah, yeah, we play cards all the time. But seriously, as of late (past few days) I haven't been getting upset with my losses. I just look for the next trade/day.
For everyone who has posted kind words over the past few days, thanks! You reminded me that I am making progress and to keep a positive attitude.
Good Trading!
Ok,
So I'm starting to get the hang of SUNW and JDSU. These stocks are great for rebates. That will be what I can lean on to hedge my losses. I can take flats or make shaves of a penny for the rebates. ORCL on the other hand continues to kick my ass. Practice makes perfect....
I lost $108 and made $50 losing it. I had 29 buy fills, 22 sell fills, and traded 71,000 shares.
Good Trading!
So I'm starting to get the hang of SUNW and JDSU. These stocks are great for rebates. That will be what I can lean on to hedge my losses. I can take flats or make shaves of a penny for the rebates. ORCL on the other hand continues to kick my ass. Practice makes perfect....
I lost $108 and made $50 losing it. I had 29 buy fills, 22 sell fills, and traded 71,000 shares.
Good Trading!
Good Morning!
Well, SUNW got downgraded today I can count on increased volatility. If it's all over the place I'm going to avoid it. Why? Because I'm only interested in generating rebates in that stock. But, if I happen to be on a roll then I might consider it.
I'll be trading ORCL in the mean time. Although it's been kicking my ass lately I think I'm starting to get the hang of it.
Good Trading!
Well, SUNW got downgraded today I can count on increased volatility. If it's all over the place I'm going to avoid it. Why? Because I'm only interested in generating rebates in that stock. But, if I happen to be on a roll then I might consider it.
I'll be trading ORCL in the mean time. Although it's been kicking my ass lately I think I'm starting to get the hang of it.
Good Trading!
hey goodpunk,
I like reading your diary and all, but I feel there is something missing from your daytrading strategy.
And that is an Edge,
I come from a business background, and I can tell you this, without a edge or a specialty if you run the same business with 20 other businesses competiting with you, you will not make any money.
You NEED an edge,
I'd recommend you to rent a few more books on trading to discover that kind of edge, I Don't think there is any edge in just "trading" there has to be a set of rules, set of patterns,
And your win ratio needs to be 1:3
lost = $1 win = $3
in fact my win ratio is usually around 1:10
lost = $0.20 win = $2
Thats the only way in my opinion to beat the churn.
don't burn out, you are doing fine , but get an edge a s a p.
in fact I find it quite imppresive you never lost mor then $200
thats very good, how do you do this?
I've lost $2k in over 5 minutes shorting RIMM by accident.
/me slaps himself
your thread just took away 3 hours of my day today, but its all good
I like reading your diary and all, but I feel there is something missing from your daytrading strategy.
And that is an Edge,
I come from a business background, and I can tell you this, without a edge or a specialty if you run the same business with 20 other businesses competiting with you, you will not make any money.
You NEED an edge,
I'd recommend you to rent a few more books on trading to discover that kind of edge, I Don't think there is any edge in just "trading" there has to be a set of rules, set of patterns,
And your win ratio needs to be 1:3
lost = $1 win = $3
in fact my win ratio is usually around 1:10
lost = $0.20 win = $2
Thats the only way in my opinion to beat the churn.
don't burn out, you are doing fine , but get an edge a s a p.
in fact I find it quite imppresive you never lost mor then $200
thats very good, how do you do this?
I've lost $2k in over 5 minutes shorting RIMM by accident.
/me slaps himself
your thread just took away 3 hours of my day today, but its all good
just some advice on how to play the current market.
btw there was a clear indication for a down day(s) in succession on tuesday,f i you need info on how to detect these indications, review the other days of the other big drop days going back to 2003 you can see a clear similiarity.
Down days come in succession days, if you start shorting swinging on the 2nd day, you will be in position to lock in at least 3-5% gains 3rd 4th days
Do not add more then 1 set of position to a short position, because shorts fall too fast to average up.
My moneymanagement for a short play would usually be something like
50% money in first bet (around 0.3% risk , I should make money instantly when I get into short position like within 15 minutes)
25% new position once 50% makes money
25% once 25% makes money
pyramid short in, but be very careful you don't short after the 3rd day of big drops, it is very risky, I have cleared out all my short positions today, I know I'm probably leaving money on the table, but I'm not in the business to give back gains and next week is earnings week and I feel today is where shorts get greedy, and when hogs get greedy, they get slaughtered.
better be safe then squeezed, being squeezed is like being grabbed by the nuts with an oversized red wrench, no fun.
hope this helps somewhat, I thought some specific guidance would be better then some zen master shit
btw there was a clear indication for a down day(s) in succession on tuesday,f i you need info on how to detect these indications, review the other days of the other big drop days going back to 2003 you can see a clear similiarity.
Down days come in succession days, if you start shorting swinging on the 2nd day, you will be in position to lock in at least 3-5% gains 3rd 4th days
Do not add more then 1 set of position to a short position, because shorts fall too fast to average up.
My moneymanagement for a short play would usually be something like
50% money in first bet (around 0.3% risk , I should make money instantly when I get into short position like within 15 minutes)
25% new position once 50% makes money
25% once 25% makes money
pyramid short in, but be very careful you don't short after the 3rd day of big drops, it is very risky, I have cleared out all my short positions today, I know I'm probably leaving money on the table, but I'm not in the business to give back gains and next week is earnings week and I feel today is where shorts get greedy, and when hogs get greedy, they get slaughtered.
better be safe then squeezed, being squeezed is like being grabbed by the nuts with an oversized red wrench, no fun.
hope this helps somewhat, I thought some specific guidance would be better then some zen master shit
Quote from coolweb:
just some advice on how to play the current market.
btw there was a clear indication for a down day(s) in succession on tuesday,f i you need info on how to detect these indications, review the other days of the other big drop days going back to 2003 you can see a clear similiarity.
Down days come in succession days, if you start shorting swinging on the 2nd day, you will be in position to lock in at least 3-5% gains 3rd 4th days
Do not add more then 1 set of position to a short position, because shorts fall too fast to average up.
My moneymanagement for a short play would usually be something like
50% money in first bet (around 0.3% risk , I should make money instantly when I get into short position like within 15 minutes)
25% new position once 50% makes money
25% once 25% makes money
pyramid short in, but be very careful you don't short after the 3rd day of big drops, it is very risky, I have cleared out all my short positions today, I know I'm probably leaving money on the table, but I'm not in the business to give back gains and next week is earnings week and I feel today is where shorts get greedy, and when hogs get greedy, they get slaughtered.
better be safe then squeezed, being squeezed is like being grabbed by the nuts with an oversized red wrench, no fun.
hope this helps somewhat, I thought some specific guidance would be better then some zen master shit
The guy scalps for pennies.. arent u forgetting that
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