Grinding it out, day after day

Quote from austinp:

lescor, if my quick math is right, your last three weeks have gone -6k / +15k / -19k for a net total of -10k thru that time.

There are people here who would read that and scoff, convinced that "day traders" must be profitable every day or else they are total failures.

There are people here who wonder if it's truth or fallacy that they must win every day in order to succeed as day traders. They come to this site assuming it is populated with winning, profitable traders.

They read the cherry-pick, totally out of sample "trade calls" in some high traffics threads. They try to make sense of which trade blotters are real versus memorex in various other threads.

In other words, the masses here are powerfully confused and purposely mislead. Big-time kudos to you for this public journal of the journey on keeping it real in our profession. The lone voice of honesty and reality in a sea of egotistical misconception.

The masses here would want nothing to do with your three-week drawdown of -10k result.

The very same masses would trade the final ten years of their lives to match your career trading performance, past AND future earnings.

But there can't be one result without the other :cool:
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Don't think he cares about the results of 3 weeks. he's looking for consistency on a long term basis.
 
Quote from HeartAttack:

Don't think he cares about the results of 3 weeks. he's looking for consistency on a long term basis.
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What is your definition of consistency on a long term basis? Positive results of last 3 months? Years? Decades?
 
Quote from boba15:

What is your definition of consistency on a long term basis? Positive results of last 3 months? Years? Decades?
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I would say atleast 1-2 years. Market volatility changes, the results of 1 month will not represent future results.
 
Quote from MAI PHUNG:

Hi Lescor,
Yesterday my opening order I has CF & FO , I end up losing CF more than FO . I don't know why I check news already but it still came in the order .I have questions for you , I hope you can help with that . In the opening if I want to keep it intil the end of the close of the market . Do you think that will be good idea , one time i watch the position after the opening I saw some position later on getting better , but some day it worser than before so i were wonder if you has ever done that before and let me know your idea about that if you have any experience about that. Thanks for your respond
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IMO, the answer is NO. In the opening strategy your hedge is the good fill you get from the auction that is a little better than fair value. It is very frustrating to see one of your fill going against you and come back just after you closed it. You got to accept that. From my experience, you can't ride the losses and wait because you are looking at making an average of 5 cents and stocks can go 3$ against you before reversing. So play the open, cut the losers and if you want to play your losers by getting back in and trying to fade the initial move this is a completely different strategy.
 
Lescor(and others), what is your fill rate on OE? If this has been asked before please feel free to yell at me.

2nd question for any OEers. Did anyone get burned on DLR on 10/6. There was no news, but news in one of the companies it leases. Did any news filters catch this?
 
You probably answered this question somewhere in this thread, but I'll ask anyway: what do you use to calculate volatility of a stock? A specific indicator?
 
My fill rate is pretty low, a few percent. DLR and other related stocks were down on EQIX news. I got hit in it and a few others. That one in particular was tough to catch unless you were familiar with the company or the industry.

I calculate my own volatility numbers for individual stocks.
 
Another really blah week until today when I finally, FINALLY, had a good day. +15k today, best day in over 3 months. Sad thing is, it only takes me back to where I was the middle of last week. Oh well, maybe there's some hope yet.

Today was some options expiration related stuff, a good futures short off the open and some discretionary shorts in the banking sector.

+16k for the week on 424,000 shares volume, daily pl was 0, -1, +2, 0, +15
 
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