My goal this month is $5,000 net profit
- Thread starter SuperVolatility
- Start date
From now on I'll posting only net profit after fees and commissions.
Today
+193
Last week
-68
Net P/L = $125
Amount to target = $4,875
Trading days remaining = 17
Today's performance:
Total Shares = 7200
Total stocks = 8
Total wins =5
Total loss = 3
Out of 8 stocks traded 5 proved winning, one loss on MTL - got whipsawed...in fast moving AM markets PLUS did not fully confirm the trend...tho it did not reverse but rather went flat..which is not good for me.
Overall strategy is working good I think, I chaned EMA from 20 days to 5 days but it proved to be too fast changed it 10-days and it seems to be a happy medium for all timeframes but I'll revise my creteria as I move along.
Added Price Channell indcator to see where price is when entering.
Today
+193
Last week
-68
Net P/L = $125
Amount to target = $4,875
Trading days remaining = 17
Today's performance:
Total Shares = 7200
Total stocks = 8
Total wins =5
Total loss = 3
Out of 8 stocks traded 5 proved winning, one loss on MTL - got whipsawed...in fast moving AM markets PLUS did not fully confirm the trend...tho it did not reverse but rather went flat..which is not good for me.
Overall strategy is working good I think, I chaned EMA from 20 days to 5 days but it proved to be too fast changed it 10-days and it seems to be a happy medium for all timeframes but I'll revise my creteria as I move along.
Added Price Channell indcator to see where price is when entering.
Today
-196.00
Made big gamble, I repeat gamble on ZNH without reading charts properly...checking and waiting as result had biggest loss...due to ZNH.
Total tades 10
Winning = 4
Breakeven = 1
Loss=5
Huge Loss =1 (ZNH)
on ZNH trend reversed...actually it did not reverse...it simply went on free fall - got my ass kicked...all I can say...thanks for the lesson...
Stopped trading right now...I don't have to keep trading until market closes....I am stopping trading until I am emotionally stable. Amount of loss is not big in dollar terms really ... it's the guilt not following own's rule is what causing the pain. If wasnt for ZNH I would have another happy Up day.
Amount to target = $5071
Trading days remaining = 16
Oh other thing...lost gains on ACH due to confusions with IB platform. it reembers last order amount...I got partical feel and canceled remaining shares of open order...when tried to sell it picked up the amount of regular shares per trade...as a result ended up shorting shares by accident, covered and again went long accidently...total dissapointment. go figure.
-196.00
Made big gamble, I repeat gamble on ZNH without reading charts properly...checking and waiting as result had biggest loss...due to ZNH.
Total tades 10
Winning = 4
Breakeven = 1
Loss=5
Huge Loss =1 (ZNH)
on ZNH trend reversed...actually it did not reverse...it simply went on free fall - got my ass kicked...all I can say...thanks for the lesson...
Stopped trading right now...I don't have to keep trading until market closes....I am stopping trading until I am emotionally stable. Amount of loss is not big in dollar terms really ... it's the guilt not following own's rule is what causing the pain. If wasnt for ZNH I would have another happy Up day.
Amount to target = $5071
Trading days remaining = 16
Oh other thing...lost gains on ACH due to confusions with IB platform. it reembers last order amount...I got partical feel and canceled remaining shares of open order...when tried to sell it picked up the amount of regular shares per trade...as a result ended up shorting shares by accident, covered and again went long accidently...total dissapointment. go figure.
Equity curve
Ended trading early as I have to go to work (have a full time job but have flexibility to work from home)
-$303
Got burned on ZNH with particular signals bot ZNH as it dropped signficantly...just to see it drop further more...
Wins =3
Losses =3
I must work on my descipline and setups more...especially my entry and exits.
I am getting a very disappointed in my performance...one of the problems is my profit margins getting whipsawed...
-$303
Got burned on ZNH with particular signals bot ZNH as it dropped signficantly...just to see it drop further more...
Wins =3
Losses =3
I must work on my descipline and setups more...especially my entry and exits.
I am getting a very disappointed in my performance...one of the problems is my profit margins getting whipsawed...
So far today
-$229
-$229
I am headded in the wrong direction
the best to you on your $5,000 October goal...go for it...have you considered "scrapping" stocks and trading the emini index futures?...like the ES mini SP500 or the YM mini dow etc....much more leverage and profit potential per your dollar....also, added risk...sounds like you are looking at to many stocks...best to be "consumed" with one contract and trade from there...just my thoughts...anyhow, the best trading to you!!!
Let me give you a little friendly advice if I may? 
I am not sure if this has been mentioned.
Focus on action quotas not production quotas. For example, focus on executing your plan as close to perfect as possible. You are focusing so much on the money it is most likely affecting your decision making ability. Focus on what you want.............to be successful............and focus on executing your plan perfectly. If your plan is good the money will follow. If it's not, then you will know fairly quickly and you can re-tool it. Good luck
I am not sure if this has been mentioned.Focus on action quotas not production quotas. For example, focus on executing your plan as close to perfect as possible. You are focusing so much on the money it is most likely affecting your decision making ability. Focus on what you want.............to be successful............and focus on executing your plan perfectly. If your plan is good the money will follow. If it's not, then you will know fairly quickly and you can re-tool it. Good luck