PropTrader - Daily exploits

Quote from JM1987:

excellent journal my friend, your style of trading is very similar to mine. It seems you are a lot more proficient then I am though haha but I'm still learning and will be keeping a close eye on your posts, keep up the good work.
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Thanks JM, I'm doing it to help my trading by talking about my day and confronting my bad days to learn from. But if I can help others at the same time thats great!

If we trade the same then maybe I shouldn't help you too much or you will start taking my $$$ hahaha

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30/12/10

Traded the morning today but nothing was happening. I recognized this early and basically just gave $150 in fees.

Finished trading for the year as tomorrow will probably be rubbish... just below $10k for the month.

Bring on the new year!!!
 
Quote from PropTraderMTL:

30/12/10

Traded the morning today but nothing was happening. I recognized this early and basically just gave $150 in fees.

Finished trading for the year as tomorrow will probably be rubbish... just below $10k for the month.

Bring on the new year!!!
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No trading today... finished Dec +$9,762

20 days trading - 13 positive 7 negative...

But the good thing is 5/7 of the negative days were less then $300 and this makes me very happy. Two stand out negative days... one on the first day of the month which got me off to a rough start and another towards the end. The first one was fighting the trend a bit and very choppy. I should have actually made a lot if I remember correctly so it made it worse then just the loss. The other day was just taking haircuts on a couple of different stocks when there was no movement specifically

In terms of positive days I put a really good run together where I put a bunch of $1k+ days together instead of trying to push it and make those days into 2k+ days... This worked out well and the combination of these positive days really added up.

Altogether pretty happy with the result, I'm extremely happy with my trading (the most important thing) at the moment which carried through from mid November... most probably as a result of volume coming back so I will be watching out in the new year to make sure the volume is there

Ready to go party and ring in the new year... lets pray to the trading gods that 2011 will be epic!
 

Attachments

Good Job PropTraderMTL. Did you learn how to trade at the Prop Firm or did you bring something to the table?

ES

Quote from PropTraderMTL:

No trading today... finished Dec +$9,762

20 days trading - 13 positive 7 negative...

But the good thing is 5/7 of the negative days were less then $300 and this makes me very happy. Two stand out negative days... one on the first day of the month which got me off to a rough start and another towards the end. The first one was fighting the trend a bit and very choppy. I should have actually made a lot if I remember correctly so it made it worse then just the loss. The other day was just taking haircuts on a couple of different stocks when there was no movement specifically

In terms of positive days I put a really good run together where I put a bunch of $1k+ days together instead of trying to push it and make those days into 2k+ days... This worked out well and the combination of these positive days really added up.

Altogether pretty happy with the result, I'm extremely happy with my trading (the most important thing) at the moment which carried through from mid November... most probably as a result of volume coming back so I will be watching out in the new year to make sure the volume is there

Ready to go party and ring in the new year... lets pray to the trading gods that 2011 will be epic!
More...
 
Quote from ElectricSavant:

Good Job PropTraderMTL. Did you learn how to trade at the Prop Firm or did you bring something to the table?

ES
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Thanks ES, yeah I was always interested in it... I remember going to a Open Day at an exchange when I was 14yrs old... It was funny because obviously no one took me seriously. I borrowed some $$ from a family friend and from 16-20yrs old I made a bunch of $$ trading (swing / buy&hold / no idea what I was doing) an etrade account in my parents name. This paid for crashing my girlfriends car and travelling after university.

But I don't really consider that trading so the answer to your question is I def. learned it all at my prop firm. There is really no other way in my opinion then immersing yourself full-time and being around other traders. Although I didn't really learn much from the prop firm in terms of training it was more about being in the environment. If you play football (soccer) with Ronaldo and Messi some of what they know is going to rub off on you...

I really don't think I could ever trade by myself in a home style setup
 
If I lose my job and if I can save any money before then...I am going prop if anybody will have me at that time...I am working on destroying my reputatuion as we speak..so I may not make it ☺

ES

Quote from PropTraderMTL:

Thanks ES, yeah I was always interested in it... I remember going to a Open Day at an exchange when I was 14yrs old... It was funny because obviously no one took me seriously. I borrowed some $$ from a family friend and from 16-20yrs old I made a bunch of $$ trading (swing / buy&hold / no idea what I was doing) an etrade account in my parents name. This paid for crashing my girlfriends car and travelling after university.

But I don't really consider that trading so the answer to your question is I def. learned it all at my prop firm. There is really no other way in my opinion then immersing yourself full-time and being around other traders. Although I didn't really learn much from the prop firm in terms of training it was more about being in the environment. If you play football (soccer) with Ronaldo and Messi some of what they know is going to rub off on you...

I really don't think I could ever trade by myself in a home style setup
More...
 
I couldn't really get anything going today... couple of little losses combined with only one decent trade on XLF (got out earlier then I should have). Everything gapped up so there wasn't too much opportunity for the day trader today. You have to either bang in at very dicey levels or sit on your hands. Can't wait till the correction and hopefully it will be longer then a couple of weeks this time.

Not that I really care about where the market goes long term, I just want there to be be movement. At the moment there isn't much besides a melt up. This market really needs a correction and I feel like a bunch of people are going to jump into the market in Jan and possibly early Feb and as usual will get burned by a pull back.

I really don't think there will be a lot of great opportunities until that time.

Looking back at this time last year I created a lot of gross P&L without much in net... this meant when I had a negative day it was tripled by not making much on the positives.

As a result I'm going to really watch that this month... although I was positive slightly on gross today it was on about $600-700 in fees. Not good and not worth the risk.

Sit back and taking it easy until something pops on the radar....


Date: 03/01/2011
Net P&L: ($550)
Month Balance: ($550)
 
Hey,

Thanks for sharing your journey! I was just wondering how 2010 was for you in regards to

gross profit
net profit
fees and commisions.


thanks
 
Quote from TokyoGhetto:

Hey,

Thanks for sharing your journey! I was just wondering how 2010 was for you in regards to

gross profit
net profit
fees and commisions.
More...

PM'd you...
 
Thanks for the thread.

When trading C and the like have you had any success trading the spread with size or do you generally scale into a position at different levels?
 
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