I closed TBL today.
gotta_trade's swing trades
- Thread starter gotta_trade
- Start date
So far, I think my total position equity has not exceeded $75,000. I think it's mostly around $50,000.
I'm not using exact and/or specific rules with my money management.
At this point, I'm not comparing my P&L with anything. I'm just doing what I'm doing. I'm enjoying the process.
My position size is basically:
500 shares for $10.00-$20.00 priced stocks
400 shares for $20.00-$30.00 priced stocks
300 shares for $30.00-$40.00 priced stocks
200 shares for $40.00-$50.00 priced stocks
100 shares for $50.00 and up priced stocks
My worst case scenario stop-loss is around $500 per trade.
If my P&L should increase above $5,000., I'll slowly increase my position size. I'll add 100 shares to my opening positions. Then if my P&L should increase to $7,500, I'll add another 100 shares, etc., etc.
I'm not using any fancy math calculations with my money management. I'm just doing what feels right. I want to feel carefree with my swingtrading, and I feel comfortable with my current position size.
I ask myself, "how would I feel if each and every open position was stopped out with the maximum loss?"...then I answer, "well, I'm okay with that." If I was trading larger size, I wouldn't be.
I hope I answered your question?
Thanks,
gotta_trade
Hi Gotta_trade,
I like your stategy. My MM rules are similar to yours. I trade 100 to 200 shares per stock, never risk more than 250$ per trade and add 100 stocks to my position size for every 1000$ I make.
It is nice to see that someone shares my philosophy. I enjoy reading your journal. Good job!
DT1
I like your stategy. My MM rules are similar to yours. I trade 100 to 200 shares per stock, never risk more than 250$ per trade and add 100 stocks to my position size for every 1000$ I make.
It is nice to see that someone shares my philosophy. I enjoy reading your journal. Good job!
DT1
EOD:Wednesday, July 2, 2003
TODAY'S TRADES:
Bot 100 UNH 50.36 (new position)
Sold 100 MTX 50.17 (scaled out of 1/2 of position, + $2.17)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + .53
6/10/03......B......200 MTX @ 48.00.......+1.88
6/27/03......B......200 DRL @ 45.10........+ .40
6/27/03......B......100 ITT @ 65.00........+ .98
7/02/03......B......100 UNH @ 50.36......+ 1.12
Unrealized P&L................................. + $531.00
Realized P&L...(as of 6/1/03)...............+ $1,892.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,423.00
TODAY'S TRADES:
Bot 100 UNH 50.36 (new position)
Sold 100 MTX 50.17 (scaled out of 1/2 of position, + $2.17)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + .53
6/10/03......B......200 MTX @ 48.00.......+1.88
6/27/03......B......200 DRL @ 45.10........+ .40
6/27/03......B......100 ITT @ 65.00........+ .98
7/02/03......B......100 UNH @ 50.36......+ 1.12
Unrealized P&L................................. + $531.00
Realized P&L...(as of 6/1/03)...............+ $1,892.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,423.00
EOD:Thursday, July 3, 2003
TODAY'S TRADES:
(no trades)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + .99
6/10/03......B......200 MTX @ 48.00.......+2.06
6/27/03......B......200 DRL @ 45.10........+ .95
6/27/03......B......100 ITT @ 65.00........+ .33
7/02/03......B......100 UNH @ 50.36......+ .55
Unrealized P&L................................. + $583.00
Realized P&L...(as of 6/1/03)...............+ $1,892.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,475.00
TODAY'S TRADES:
(no trades)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + .99
6/10/03......B......200 MTX @ 48.00.......+2.06
6/27/03......B......200 DRL @ 45.10........+ .95
6/27/03......B......100 ITT @ 65.00........+ .33
7/02/03......B......100 UNH @ 50.36......+ .55
Unrealized P&L................................. + $583.00
Realized P&L...(as of 6/1/03)...............+ $1,892.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,475.00
Thanks for the positive comments!
I'm happy that some people are getting something from this journal.
Have a good weekend everyone,
gotta_trade
EOD: Monday, July 7, 2003
TODAY'S TRADES:
Sold 100 DRL 47.00 (scaled out of 100 shares, + 1.90)
Sold 50 UNH 51.78 (scaled out of 50 shares, + 1.42)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + 1.43
6/10/03......B......100 MTX @ 48.00.......+ 3.06
6/27/03......B......100 DRL @ 45.10........+ 1.59
6/27/03......B......100 ITT @ 65.00........+ .49
7/02/03......B.......50 UNH @ 50.36........+ 1.62
Unrealized P&L................................. + $738.00
Realized P&L...(as of 6/1/03)...............+ $2,153.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,891.00
TODAY'S TRADES:
Sold 100 DRL 47.00 (scaled out of 100 shares, + 1.90)
Sold 50 UNH 51.78 (scaled out of 50 shares, + 1.42)
OPEN POSITIONS:
6/02/03......B......100 FR @ 30.45........ + 1.43
6/10/03......B......100 MTX @ 48.00.......+ 3.06
6/27/03......B......100 DRL @ 45.10........+ 1.59
6/27/03......B......100 ITT @ 65.00........+ .49
7/02/03......B.......50 UNH @ 50.36........+ 1.62
Unrealized P&L................................. + $738.00
Realized P&L...(as of 6/1/03)...............+ $2,153.00
TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,891.00
