gotta_trade's scalping journal

I am going to set a record for ET's shortest journal.

It's something that I always wanted to do, but now that I did it, I don't really want to continue.

Nothing personal, but, posting a daily journal is just not for me.


Best of luck to everyone.
 
 
Have you noticed most big bids/offers(30k+) getting taken out in 1 print lately? I think this is one of the recent problems guys are experiencing.
 
Quote from gotta_trade:

End of Day:

+1083 before commissions, +242 after

I am not happy with the way I finished off the day. Lost money shorting late day rally. I feel that I overtraded. Tomorrow, I will make a point to be more selective.
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Is this normal for you? $800 in commissions!?!? Where are you trading and what are you paying??? What is your average size trade? 2000 shares? 5000??? Maybe you should try and find a "flat rate" prop firm. I think Domestic charges $1 per trade from 100 to 10,000 shares. Or try to cut a better deal with someone else.
 
Quote from axehawk:



Is this normal for you? $800 in commissions!?!? Where are you trading and what are you paying??? What is your average size trade? 2000 shares? 5000??? Maybe you should try and find a "flat rate" prop firm. I think Domestic charges $1 per trade from 100 to 10,000 shares. Or try to cut a better deal with someone else.
More...



Well, yes, today I spent $800 in commissions. I usually spend $500-$1000 in commissions each day. It just so happens that today's gross profit was +1082 and most of that was commissions. I had alot of scratch trades today and I gave some money back in the last 15 minutes of the day.

My profit is usually higher. I don't have many losing days, but I do have days where I churn and burn commissions. I guess you can say that those are my "losing" days.
 
Quote from gotta_trade:





Well, yes, today I spent $800 in commissions. I usually spend $500-$1000 in commissions each day. It just so happens that today's gross profit was +1082 and most of that was commissions. I had alot of scratch trades today and I gave some money back in the last 15 minutes of the day.

My profit is usually higher. I don't have many losing days, but I do have days where I churn and burn commissions. I guess you can say that those are my "losing" days.
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Not to hound you, but you still haven't told us WHAT your commission rate is and WHERE you trade.

:)
 
Quote from axehawk:




Not to hound you, but you still haven't told us WHAT your commission rate is and WHERE you trade.

:)
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My commission rate ranges from .7 to .6 per share, depending on my monthly trading volume.
 
Quote from Lobster:

gotta trade,

how do you choose your stocks?
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There are 4 or 5 NYSE stocks that I stick to each day. I am very familiar with how they trade. I also trade story stocks and once and a while I'll trade the QQQ and SPY.
 
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