XD Paper Trades Journal

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xdiesel123x

my goal is to make 750/day with max drawdowns of 300. It is at my discretion to continue to trade after -300 but i am cut off at -750.

my bank will be 250k (5k initial deposit 50:1)

max deal size 85k layed out at all times.

no trading before 10 or after 3:45
.005/share
recap of my thoughts and market action.

8/17/09

10:20AM
A/P amzn 700 @ 80.722 (Average/Price)
S/A 80.65
-.072*700=-50.4-7(t/a/c) = -57.4

11:20
s/s A/P AA 2k 12.485
cover
12.42=+.065*2k=130-20(t/a/c)=110

11:20
ss ap F 3k 7.423
cover 7.36=.06*3k=189-30 tac=159

11:30 ss amzn 700 81.23
cover 81.51 =-.28
-196-7tac=-203

this is where I should have slowed down (lesson learned (hopefully))

ap amzn 700 81.575
sell amzn 200@ 81.7=+25
s/l hit 81.58=+2.5-7=total of +21

ss 800 amzn 81.55
cover a/p 81.725=-140-8=-148

ap 800 81.76
s/l 81.65=-88-8=-96

ss800coversame price=-8

ss pwrd 2 k@ 36.475 cover 36.78=-560-20=-580
1pm
BREAK
rule breakers:
ss amzn 800 81.30
cover 80.85
+358
was beyond limit down
ss aa 5k 12.36 cover 12.42-.06*5k=-300-50=-350
traded passed 3:45

-750 for day this was one of my worst days in months. I dont usually break my rules. I hope todays sub-par embarassing performance is not repeated AGAIN!!! But it is good to be honest with oneself and so I am not ashamed to say I made a mistake; I just hope I am smart enough not to do it again.
 
I need to make mistakes now so I correct them later; thanks

today little short cover rally...bullish if we regain 20 day ma bearish if we fall short.
I believe the dollar will slightly rally causing downward pressure on equities(and dollar denominated commodities) or there is going to be a run on the dollar causing some time of pull back in equities.

the dollar banks and tech continue to be the underlying market factors and themes.

retail sales last week were alarming...ppi was ugly today yet gold found a bid as the dollar slid(is there fear back in the market?)the market seems to be repricing the new normal as we speak..


As per my trades

I work in the market and so I have a good connection to streaming quotes. however my boss sits right behind me so it gets hard to keep my eye on the charts etc. not to mention when i get phone calls.

at home I do not have the proper equipment to truly trade and I am not alowed to have accounts any where else but the financial institution I work at.

however I am still able to make pretty good profits today I followed the rules but was in meetings from 1200-230.

AMZN long at 10am
+128
amzn short 10:30
-197
ddm long 10:38
+90
amzn short 11:30
+190
amzn long 3:00
+20
amzn short 3:20
-50

all trade were compliant in every way and include commission...some trades would have been better with better and streaming charts. hard to trade without them but will have them tomorrow at work but sucks that i cant watch them..........eh hard to practice but whatever i gotta try

+180 day
-570 for the week
1/1
 
500 amzn 81.8
out 81.75
-30

ss 700 amzn avg 81.79
cover profit of 119

ss f 4k avg 7.615
cover 71.66 -200

800 amzn 82.09
sold 81.14 profit 40

2k dxd 38.95
sell 39.05 profit 180

ss 800 amzn 82.1
cover 82.30
-165

4k dxd 38.965 cover 39.96
-25

-80 for day
-650 for week

+1
-2

I must be hitting a bad streak; probably because I am finally sharing my trades the pressure is getting to me. I am happy this is happening as it is a good learning experience.

Although I am not able to focus 100% of my time to this it is no excuse for bad trades. These are bad trades for me and I am getting away from my structure. I hope tomorrow I can get back to my usual self.

I am not devoting enough time in AM to looking for trades and m patience is just not there. success will be determined by my ability to get passed my own intelegence and trade the way the market tells me an NOT the way I see the market.

Recap

the dollar is in focus. As long as there is an orderly sell off in the dollar; equities are likely to rise. the vix remains elevated and technology continues to lead the way.

My off the wall prediction is that we see lower numbers by weeks end however early this morning i feel like traders were assuming a break of 980 on spx and to many people were on one side of this trade. the failure to break 980 during the early minutes caused a short cover and was a sign of bullishness. Todays action points to higher numbers and the continued bid in the market.

the beauty of this is that tomorrow is always the most exciting day!
 
today I was on pretty good fire!

Had to break some rules...

When you cant watch your positions all the time that is what happens though....

I want to work on scaling into trades better.

I spent time before work looking for support and resistance levels which is something I will do every day from now on. I rushed some trades and shorted GOOG even though it had an upgrade....which I would have never done had I know GS upgraded it....I still made money lol...


here we go

ss goog 458.25 75
cover 25 456.25 +50

ss 50 goog 458.25
cover 458.25
WASH

ss JPM 42.2 1k
cover 42.28
-88

ss jpm avg 42.385 2k
cover 42.38
WASH

ss jpm avg 42.405 1k
scale cover +120 profit

ss amzn 83.70 1k
cover 83.65 500
+20

this was bad...I even saw the wedge formation I just saw some weekness in the DJIA so i thought it was a false breakout...

ss amzn for avg price 84.03 2500
covered 83.13
-275

amzn 83.14 1k
amzn 83.16
+20

ss amzn 83.2 1k
cover 500 83.13 +30
cover 500 83.09 +55

1k aig 32.35
sell 500 32.5+70
sell 500 32.7 +170

buy 1k amzn 84
sell 84.05
+45

JPM ss 1500 avg .405

cover .35 +50
cover .31+45

6k dxd 38.28scaled had to because I was forced from desk in middle of trade...had no stop loss on
6k dxd 38.30
+60

+350 for day
-300 for week

2/2

usually I go 6-8 out of 10 so maybe I am catching a streak

recap...

light volume rally on tech and a weaker dollars. vix is sliding again and resistance has been broken. Odds are for higher numbers till month end. September might be the sell off time...
 
today was another good. day...

I had to break the leverage rule today because it was such a positive day for me that I felt confident I should not be taking losses on long trades...I would not always do this but I did have mental stop losses in place (which were almost breached that would have caused minor losses)

I have been shorting the weak names and going long the strong names

weak today were:

F
Pwrd

stong was:
ddm
amzn

trades:

ss f 7.73 cover 7.745
-25
ss pwrd 1k 39.80 cover avg gain=+135

pwrd 500 39.48
500 39.41
500 39.25

sold 1k 39.46 =+45


short amzn 200 84.55
200 84.60
200 84.70
=avg .6167
cover 300 @.56 +14
cover 300@.59=(wash for commissions on trade .005*1200)

still long 500 pwrd @.41

buy 250 @.47
250@.37

out 1k@.42=wash trade

amzn 200 84.65
200 .62
400.53

=800@.585

sold .6=+8

long dxd @37.12 500
s/a dxd .07=-30

ss 100 pwrd 37.22
cover .05=+15

heres where I got sloppy with lard trades
amzn
1k84.45
1k 84.35
1k85.20

sell 2k 84.34=wash

left 1k @.335
buy 1k@.17
1k@.09
=3k@.2

sold @.28(should have hund on to 500)

+.08=+210

ss F 2k avg 7.705 cover 7.72 loss -55

pwrd short avg 400 39.05 cover 39.07 -10

ddm 2k 36.46 sold 35.50=+60

+393 for day
3 winning
2 losing
+90 for the week



had a rocky start for the week I think it was cause I was trying to force trades...not a good recipe. More reason why I know I have to be financially stable for this move

I am still putting trades on that I would not do with real money.

Fact is my lack of ability to focus 1000% of my time at work on this doesnt allow trade how I would normally do so.

NO excuses however because I should be able to properly scale my trades in and out.

Lesson for the week is:

Trading larger than my willingness to lose on any one trade will cost me more money than potential profits are worth. I must trade within my willlingness to lose until I have a large enough bank role.


Recap for the week

continues to be buy the dips market. as stated on tuesday; regaining 20 day MA on djia and spx was bullish sign for rest of the week.

week dollars and slight recover in economy remains in focus while tech, oil and banks remain leaders. Overhead resistance = 20 Month MA on SPX and DJIA at 1070 and 10,000 respectively.

I believe Friday's highs(+200 djia points) will be an intermediate top which gets retested in early to mid september. against these averages for a possible double top formation. Asia's markets particulary JAPAN i showing signs of real weakness in chart and is not confirming US's highs. A good time frame for US topping is the diffence in time at the lows in Feb march for JAPAN and other Asian Markets repsective to the US market lows. approx 1 trading week.

the dax made a lower low before making a turnaround where the jp and djia did not...so new highs in the dax on monday are expected there before signs of a turnaround.



The dollar must make a montly basing pattern for a possible spike in September. Although it is positive for the market for the dollar to drop..It would not be healthy for capital flows from ASIA if the dollar has an uncontrolled sell off. For that reason and that reason alone I believe the dollar will hold the march 08-july08 base; THE FIRST TIME and at least attempt a rally. This will not happen this month...or atleast it is highly unlikely.

Because I believe the inflation call is early gold and other inflation hedges are likely to sell off as the dollar rally's. Althou we are confident there is inflation ahead let us not forget that this will be A LONG AND DRAWN OUT TRADERS MARKET. We have months of this story ahead.
 
had a very good day until I made one crappy trade.


was up 700 for the day and wound up down 15. I made a trade without looking at the chart and bet based solely on price action. It was a trade I would not have if I had looked at an up to date chart with proper volume.

I left my trades at work so will post them tomorrow.

Good day for a market top...We shall see what tomorrow brings. Investors have bought all signs of weekness including the japanese market that looked week through its 20 day MA. The sentiment is still bullish and I believe there is not much resistance until 1050-1075 on spx.

Depending on if and how hard tomorrows sell of is will determine how I feel about todays action.

-15 week
+60 total
3/3 winners to losers
 
-135 for day
-150 week
-70 so far
3 for 4 winners to losers

Busy night last night so no time to post.

I have been really on fire but trying to piramid my size up.

I had some very good gains again; everything working nice. The moment I step up the size I make a bad bet.

To much size affects my p/l stability very negatively.

Will post all trades for the week tonight or tomorrow
 
85 for day
-65 week
-15 so far
4 for 4 winners to losers

another day where I lost some good gains from the am on a few bad trades

bottom line is i have been taking too large of positions; when i take normal size trades and average in I am better. I either have to learn to manage the trades better or stop and quit.


no time to post trades but i have been shorting the week sectors and long the strong sectors. this seems to work nicely.

market is showing signs of weekness; although i will not call top.

positive econ data would generally propel the market but it has failed to do so the last two days.

I dont see any real downside till next month...
 
home...going long the market for trade
500 ddm @ avg 36.19

will buy more up to 15 minute 200 average

have 2 k !@ 36.16

sold 1k@ 36.21 +50(10ta)=$40

sitting on 1k at 36.16

sold at 36.22 500 +30(5ta)=$25
sold at 36.25 500 +45(5ta)=$40

+105 for day

starting to build short position...

100 dxd 37.11
 
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