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[KCalhoun]

Welcome to my first journal, wherein I'll discuss lessons learned as I trade inverses like SQQQ TVIX UVXY VXX & SOXS.

I've made just over $7k net profit this last 3 weeks with days like those shown below. I both day & swing trade in my fidelity SEP.

Recent examples:

Feel free to comment or ask questions. Plus I'll keep it fun.

Area for improvement = gaining confidence to trade larger size. Typically I overnight hold max 100 share size, often less, $3k-$15k total.

Strategies:

Open range breakouts, gap continuations and pre/aftermkt entries and exits.

Heavy focus on position sizing, scaling in and out several times a day.

Tape reading momentum breakouts for daytrades, always scaling with trailing stops.

Many other techniques, like using OHLC ATR s/r levels, 2day charts, see more in my top rated TASC articles (subscribers):

http://technical.traders.com/archive/combo/display5.asp?author=Ken Calhoun

 

[fan27]

Seems like you have been trading a long time...why do you still not have confidence to trade larger size? For this journal to be meaningful, let's see some account statements going forward showing you actually trading larger size.

 

[KCalhoun]

Seems like you have been trading a long time...why do you still not have confidence to trade larger size? For this journal to be meaningful, let's see some account statements going forward showing you actually trading larger size.

Absolutely- the main content will be screencaps of P&Ls from my live fidelity account.

That's the goal, to get comfortable trading size. I trade small because I can't stand big $1k+ stops, that's a lot of $ to me. So I trade small, often successfully, and teach. But I want to substantially increase trading profits.

 

[nooby_mcnoob]

I made $10K yesterday and today trading a single instrument, you need bigger balls. These opportunities aren't going to be around forever.

 

[KCalhoun]

I made $10K yesterday and today trading a single instrument, you need bigger balls. These opportunities aren't going to be around forever.

Exactly 100% agree, congrats on 10k!

 

[KCalhoun]

3/12 current positions in both my fidelity accts,
a) trade mgmt: will sell partial shares here premkt to lock in profits if gaps fade
b) psychology: pissed at myself for only holding small shares overnight

 

[KCalhoun]

3/12 7:10amET

a) trade mgmt: update sold most premkt just now to lock profit, will re-enter l8er:

b) psychology: disappointed in myself for not having traded size, but glad i'm trading succesfully at least

c) t/a: I sold because gaps in my favor are so big. had they been small gaps i would've held

 

[themickey]

b) psychology: pissed at myself for only holding small shares overnight......

Way too much emotion.
If you had increased your position size and it went against you, it would have been again; "pissed at myself".

 

[themickey]

I must be a psychopath, seldom think regret in trading.
It is what it is.

 

[KCalhoun]

Way too much emotion.
If you had increased your position size and it went against you, it would have been again; "pissed at myself".

bingo -- hence my dilemma. my thinking was, like the dem primaries day before, knowing trump was gonna talk is a wildcard; mkts could've flipped either way, so i bet small. good point!