November Trading Journals
- Thread starter Hitman
- Start date
Going into today's game I knew it will be tough as the market is very strong but we most likely won't have enough volume to push through Dow at 10K and Nasdaq at 2K for that matter. Until then the market will be choppy but fortunately there was a huge energy run and despite of the fact that I went too light, I was able to pull down my seventh victory in a row.
5900 shares on 6 of 8 shooting, +655 before commissions, +517 after, no bullets. I have not been getting any dividends off bullets so I stopped putting them up, until the market significantly weakens I think it is better to stick to the long side. Very light day for me but I need to identify strong stocks and sectors early and hold on to bigger size.
Pre-Market: Nothing really caught my eyes.
9:30: Most energy stocks gapped up substantially and I went for SGY immediately, wish I got the first print and I missed it, so I cancelled my limit buy. Took EPG instead and scored half a point on a half lot. Took KMI and he gapped up just 20 cents, quickly went down 30 cents and I got jittery and pared out most for flat . . . and held a measly 200 shares for half a point.
10:18: Choppy futures and I kept my powder dry, took a little DOX as I thought he was strong, only got a dime as futures failed to breakout.
11:30: Thought energy was super strong, bought APC at 53 as he took out some big size at the figure, pared out most for 30 cents profit, held one hundred shares for a full point move (went to the gym), it is a start, but I need to be more confident about my calls.
2:14: Futures breaking out, didn't believe it will break major resistance but took a little EMN, stopped out for a dime loss.
2:51: Churned some CCU, lost a dime in TYC, no bullets as I missed the short side, maybe tommorrow I will put one or two up . . .
5900 shares on 6 of 8 shooting, +655 before commissions, +517 after, no bullets. I have not been getting any dividends off bullets so I stopped putting them up, until the market significantly weakens I think it is better to stick to the long side. Very light day for me but I need to identify strong stocks and sectors early and hold on to bigger size.
Pre-Market: Nothing really caught my eyes.
9:30: Most energy stocks gapped up substantially and I went for SGY immediately, wish I got the first print and I missed it, so I cancelled my limit buy. Took EPG instead and scored half a point on a half lot. Took KMI and he gapped up just 20 cents, quickly went down 30 cents and I got jittery and pared out most for flat . . . and held a measly 200 shares for half a point.
10:18: Choppy futures and I kept my powder dry, took a little DOX as I thought he was strong, only got a dime as futures failed to breakout.
11:30: Thought energy was super strong, bought APC at 53 as he took out some big size at the figure, pared out most for 30 cents profit, held one hundred shares for a full point move (went to the gym), it is a start, but I need to be more confident about my calls.
2:14: Futures breaking out, didn't believe it will break major resistance but took a little EMN, stopped out for a dime loss.
2:51: Churned some CCU, lost a dime in TYC, no bullets as I missed the short side, maybe tommorrow I will put one or two up . . .
Hitman, thanks for the words of encouragement.
Mr.V 1 Stockk 1
Could you tell me the link where you post your journal?
Mr.V 1 Stockk 1
Could you tell me the link where you post your journal?
When I opened the game with three missed shots, I really wondered why did I bother to play the game at all, knowing it will be very light. Fortunately I quickly adjusted and it turned out that the three shots I missed were the only shots I missed today. Super light game but I was able to pull out yet another victory, and those small gains add up, 10200 shares on 9 of 12 shooting, +617 before commissions, +386 after.
This time last year, I lost 8 games in a row, how awesome it is to go into the holiday with 8 straight wins, but I will come back on Friday to play another light game.
Pre-Market: Double upgrade on GDT, one upgrade on STJ made me think BAX.
9:30: BAX opened up 20 cents and I took some at 49.73, offered showed up and stepped down and I got out for flat. Took a little CAH on DRG strength, offered showed up and I quickly got out for a dime loss. STJ/GDT haven't opened yet and I wondered if I misjudged the sector strength. Went long HP when it opened and OSX was going up, but XNG was falling so I didn't know which way it will go, pared out half of HP immediately for flat when SLB started downticking, held a couple of hundred shares and it just fell on really light volume, before I knew it I lost 50 cents on this tiny position. Took DO on a light bounce and out for flat immediately as I saw OSX made a new low.
9:56: GDT/STJ both opened up many points and I liked the tape of BAX (and the fact he filled me nicely when I tried to get out earlier told me he is strong), took some at 49.58 and took more when he broke .75, when he broke 50 I thought I was golden but market tanked and I got out half at 50 and rest at .80, there was a BID there earlier, he bounced off it but it was a really weak bounce and I got out when he hit the BID again. Tried DO on another energy bounce and got a nickel. Tried a little BRL and I got in near the intraday low, too bad I didn't hold it, he printed all over the place for a long time and I sold in disgust for a dime profit and he went up two points a few hours later. Took a little TER on futures pop and I was able to score 20 cents. Took CAH again when he hit 69, made 30 cents but a few prints later he printed 70! Amazing stock, I really didn't think he was accumulating that much shares for that big of a move.
10:53: Took some NE at 27.60 in anticipation of an energy rally, I really didn't think it would sell-off so hard in the morning and it was near yesterday's open, eventually got HP, VTS, SGY, NBL, it was a big move but I didn't trust it, and ended up with an average of just 20-30 cents profit or so on each, with tiny positions. Low volume made it hard for me to hold onto any serious size, any other day this could have been a huge run . . . Didn't trust myself.
12:00: HON held yesterday's low and I took some at 31.60, futures never squeezed and I lost hope, got out and went to lunch, final hour when futures finally gave a little squeeze it went to 32 . . . Oh well . . .
Hapaboy:
A bullet is merely some additional commission you pay to sell stuff short on downticks, nothing more.
This time last year, I lost 8 games in a row, how awesome it is to go into the holiday with 8 straight wins, but I will come back on Friday to play another light game.
Pre-Market: Double upgrade on GDT, one upgrade on STJ made me think BAX.
9:30: BAX opened up 20 cents and I took some at 49.73, offered showed up and stepped down and I got out for flat. Took a little CAH on DRG strength, offered showed up and I quickly got out for a dime loss. STJ/GDT haven't opened yet and I wondered if I misjudged the sector strength. Went long HP when it opened and OSX was going up, but XNG was falling so I didn't know which way it will go, pared out half of HP immediately for flat when SLB started downticking, held a couple of hundred shares and it just fell on really light volume, before I knew it I lost 50 cents on this tiny position. Took DO on a light bounce and out for flat immediately as I saw OSX made a new low.
9:56: GDT/STJ both opened up many points and I liked the tape of BAX (and the fact he filled me nicely when I tried to get out earlier told me he is strong), took some at 49.58 and took more when he broke .75, when he broke 50 I thought I was golden but market tanked and I got out half at 50 and rest at .80, there was a BID there earlier, he bounced off it but it was a really weak bounce and I got out when he hit the BID again. Tried DO on another energy bounce and got a nickel. Tried a little BRL and I got in near the intraday low, too bad I didn't hold it, he printed all over the place for a long time and I sold in disgust for a dime profit and he went up two points a few hours later. Took a little TER on futures pop and I was able to score 20 cents. Took CAH again when he hit 69, made 30 cents but a few prints later he printed 70! Amazing stock, I really didn't think he was accumulating that much shares for that big of a move.
10:53: Took some NE at 27.60 in anticipation of an energy rally, I really didn't think it would sell-off so hard in the morning and it was near yesterday's open, eventually got HP, VTS, SGY, NBL, it was a big move but I didn't trust it, and ended up with an average of just 20-30 cents profit or so on each, with tiny positions. Low volume made it hard for me to hold onto any serious size, any other day this could have been a huge run . . . Didn't trust myself.
12:00: HON held yesterday's low and I took some at 31.60, futures never squeezed and I lost hope, got out and went to lunch, final hour when futures finally gave a little squeeze it went to 32 . . . Oh well . . .
Hapaboy:
A bullet is merely some additional commission you pay to sell stuff short on downticks, nothing more.
HItman, i read most of your posts. And it seems that you are consistently gross positive. You should start going in with more size. Don't be afraid, you always win it seems. keep up good work.
Well, i finished my 12th trading day at Worldco. Boca Raton office. I'm happy to say i'm now net positive after 12 days. I made money every day this week. I'm up 3000 gross, 300 after commissions. Worldo commission schedule works against new traders that are trading small size. That will improve as i'm now starting to trade more shares. The $5 ticket charge hurts when you are only trading a few hundred shares.
I hope i can stay profitable through the remainder of the pay period. Would be a confidence booster to get a paycheck in my first month.
Main goal for the rest of the year is to improve my trading and get some consistency.
Well, i finished my 12th trading day at Worldco. Boca Raton office. I'm happy to say i'm now net positive after 12 days. I made money every day this week. I'm up 3000 gross, 300 after commissions. Worldo commission schedule works against new traders that are trading small size. That will improve as i'm now starting to trade more shares. The $5 ticket charge hurts when you are only trading a few hundred shares.
I hope i can stay profitable through the remainder of the pay period. Would be a confidence booster to get a paycheck in my first month.
Main goal for the rest of the year is to improve my trading and get some consistency.
Right now i'm paying 1.5 cents/share and $5 ticket charge. That will approach 1 cent/share and no ticket charge as i become more seasoned.
Ticket charges take a big bite when you are just starting/training with a few hundred shares. My limit is now 600 shares so it will be less of a factor going forward.
Ticket charges take a big bite when you are just starting/training with a few hundred shares. My limit is now 600 shares so it will be less of a factor going forward.
Here is a list of sectors for which I have found their components tend to move well together when that particular sector is moving -I hope folks understand what I am trying to say
Aerospace/Defense
Drugs
Drillers
Healthcare
Home Builders
Insurance
Retailers
There are many more sectors out there but I have found these to be pretty decent ones to trade. This is my opinion of course so therefore that opinion is probably worthless....
Leland
Aerospace/Defense
Drugs
Drillers
Healthcare
Home Builders
Insurance
Retailers
There are many more sectors out there but I have found these to be pretty decent ones to trade. This is my opinion of course so therefore that opinion is probably worthless....
Leland
Silk:
Incredible job to go net positive in 12 games especially given the high commissions, and sure hope you get that first check, if you can get your check first month you sure are gifted and please let me know at the end of this month!
What kind of style do you trade? Is Eugene (I think he is still the number one trader at our firm this year) giving you any tips? PM me if you have to
The firm will not give you anything (why would they cut into their own profit) unless you ask. You should put in a request for lower commission every week (be sure to overshoot, like ask for no ticket charge and 1 cent per share right away and they will probably give you $3 ticket and 1.3 cent per share, they will never give you what you ask for). Also don't be fooled by "check back in December" lines, just request it every week, the worst they can say is no, but given your stunning start, they will almost have to throw you a bone.
It is funny how in 12 games you are already trading similar sizes as I am (at least when it comes to start positions). I am not sure why don't I start positions with say at least 800-1000 shares, this is definitely one of my two fatal flaws (the other being impatient and let go of winners too early) right now, the inability to trade size. I always make excuse (volume too light, market too choppy, stars are not aligned) to trade small. This must be addressed.
LelandC:
The only problem is that there is no home builder index nor aerospace index, I created them on First Alert but because I am the only one looking at it, it is nowhere near as effective. Gas, semiconductors, banks, brokers, chemicals are also very good sectors to trade.
Incredible job to go net positive in 12 games especially given the high commissions, and sure hope you get that first check, if you can get your check first month you sure are gifted and please let me know at the end of this month!
What kind of style do you trade? Is Eugene (I think he is still the number one trader at our firm this year) giving you any tips? PM me if you have to
The firm will not give you anything (why would they cut into their own profit) unless you ask. You should put in a request for lower commission every week (be sure to overshoot, like ask for no ticket charge and 1 cent per share right away and they will probably give you $3 ticket and 1.3 cent per share, they will never give you what you ask for). Also don't be fooled by "check back in December" lines, just request it every week, the worst they can say is no, but given your stunning start, they will almost have to throw you a bone.
It is funny how in 12 games you are already trading similar sizes as I am (at least when it comes to start positions). I am not sure why don't I start positions with say at least 800-1000 shares, this is definitely one of my two fatal flaws (the other being impatient and let go of winners too early) right now, the inability to trade size. I always make excuse (volume too light, market too choppy, stars are not aligned) to trade small. This must be addressed.
LelandC:
The only problem is that there is no home builder index nor aerospace index, I created them on First Alert but because I am the only one looking at it, it is nowhere near as effective. Gas, semiconductors, banks, brokers, chemicals are also very good sectors to trade.