Trader P/L 2006
- Thread starter mnx
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Ok, here's a variation on something I wanted to mention yesterday... but couldn't, since it would have been in bad taste:
My loss today was actually pretty insignificant, relatively speaking. When I post one of my <b>truly</b> big losing days... you'll know it.
My loss today was actually pretty insignificant, relatively speaking. When I post one of my <b>truly</b> big losing days... you'll know it.
I've been getting many PM's asking about my time frames. Instead of replying to all of them, I'll just answer the question here:
I've never really deviated from the standard Schonfeld time frame, which I was taught at the very beginning of my trading career. I scale in and out of big positions in little pieces. The time frame from when I start building up the position until it's completely closed out... is between a couple minutes, up to a few hours. I'd say my average position that does get built up with considerable size, is held for an average of about 1-3 hours.
Smaller trades that I don't build up into big positions are generally held for less time- between about 2-20 minutes, I'd say.
One more thing- I've been thinking about this, and posting my trading results here every single day could easily have a negative effect on my results. <b>Overtrading when I should be light or flat- that's my #1 weakness.</b> Posting my results here every day could easily prompt me to overtrade in order to 'keep things interesting'. On Friday, I probably should have traded under 100,000 shares for a modest profit of $5-10K... but I overtraded a dull choppy market instead. It wasn't a relatively big loss, but it was my biggest drawdown in 7 trading days.
At this point, I intend to post my more interesting up & down days (You haven't seen one yet... ), and keep the ordinary ones to myself.
I've never really deviated from the standard Schonfeld time frame, which I was taught at the very beginning of my trading career. I scale in and out of big positions in little pieces. The time frame from when I start building up the position until it's completely closed out... is between a couple minutes, up to a few hours. I'd say my average position that does get built up with considerable size, is held for an average of about 1-3 hours.
Smaller trades that I don't build up into big positions are generally held for less time- between about 2-20 minutes, I'd say.
One more thing- I've been thinking about this, and posting my trading results here every single day could easily have a negative effect on my results. <b>Overtrading when I should be light or flat- that's my #1 weakness.</b> Posting my results here every day could easily prompt me to overtrade in order to 'keep things interesting'. On Friday, I probably should have traded under 100,000 shares for a modest profit of $5-10K... but I overtraded a dull choppy market instead. It wasn't a relatively big loss, but it was my biggest drawdown in 7 trading days.
At this point, I intend to post my more interesting up & down days (You haven't seen one yet... ), and keep the ordinary ones to myself.
Magna
Administrator
Guys,
Let's stay on the topic of trading blotters. If you'd like to have discussions of trading firms, strategies, etc. please do so in the many other threads about those subjects. And if you'd like to discuss off-topic items with particular individuals please do so via private message. Thanks.
Let's stay on the topic of trading blotters. If you'd like to have discussions of trading firms, strategies, etc. please do so in the many other threads about those subjects. And if you'd like to discuss off-topic items with particular individuals please do so via private message. Thanks.
Done for the day
Thanks for costing me 2 days work MOVI gallery, stupid POS!!!!!!!!!
Thanks for costing me 2 days work MOVI gallery, stupid POS!!!!!!!!!
Nat gas not keeping up with crude.
ER was a layup, traded my way out of a huge win.
.. rest just scalps
ER was a layup, traded my way out of a huge win.
.. rest just scalps
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