Crappy days will happen in trading. Today was one of them. I took some early trades and I have decided to focus on a short scalp to start the day on Monday. It will be quick and I will also be looking for the rising devil. I believe that understanding the psychology of traders is the one thing that I am missing so far.
I lost money again, but again, I was focusing on execution of hotkeys and looking for setups. The P&L doesn’t mean as much, but I am in the process of opening my real account. It is a process and it is not quite finished yet.
When the account is open, it will get real…real fast.
Note to self, do not trade after the president has decided to make war threats against Iran. After a while everything went sideways but it was confusing and I couldn’t get price direction and all my choices were wrong and I was approaching a $2000 loss
So Hulk Day means that I let my emotions get The Best of Me and I stayed in and trade too long and I lost money. So before I knew it, I was behind by $1100. By the end of the trading session I had that down to just over 700. So if you take out the bed trade I didn’t do a badd job.
Now, this comes right on the heels of me setting up my real account. Starting next week I’m going to be trading real money. No more Hulk days!
Traded this morning. 17 tickets. I got stopped out on AMD and lost $50. It was my only losing trade. I closed it down and I was up $343. Not bad. This week I am opening up my own Trading account and getting my platform setup for live trading. Very excited.
So after I got into a good scalp and I was up over $600…I ended up giving most of it back and ended the day at $244. I think that next time, I will turn off the chat room and look at my own scanners after we start. The noise of the others is getting me off track. By the time that they talk about something…I have already missed the move. Oh well, at least I am still in the positive.
New Years Eve. I over traded. I had a lucky trade and got a single $900 profit which took out a bad day of early trading. I was lucky. I know it. I had 33 tickets. Emotions got the best of me. I still ended up on the plus side of the day at $545.
I had originally planned to go live with my real money in January. I will be pushing it off until February. I will also be developing a new trading board that will allow me to see more stocks at one time.
The last day that I traded was Thursday before the weekend. I had 72 tickets and a barely break even day in the simulator. I am never going to get out of the simulator until I learn to stop trading. I made it my goal to “not overtrade today”. My day included 3 stocks and a total of 12 tickets. I made $440. I was out
My strategy was to identify a stock that I could trade 2000 shares in a total of 30 seconds from the open. First, I made sure of the direction of the price, then I struck, took a partial in 8 seconds, thenout in 7 seconds it was all over before the market was open for 30 seconds. This is where I made most of my money. I made the rest on a steadily’ rising stock that I didn’t react to on my 1 minute chart. I let the stock pullback ant then run some more. At 20 minutes, I realized I had made my goal and now I am evaluating my goals
The dog interrupted my first attempt at this recap. I came back to look at the stocks that I was trading later in the day. The market roared on as I left for my day. I didn’t regret it. I just enjoyed the day. That’s the thing. I made good trades based on good information. The market was crashing all around but the stocks I chose had a good catalyst and they showed signs of moving in the positive directions. I made money on every trade today. I know that won’t always be the case, but I achieved my daily goal.
Approaching the opening of the market and I heard a faint beeping. I thought it was coming from the chatroom online. Instead, it was coming from the living room. The rain storm had shorted out the holiday light display and tripped the ground fault in my daughter’s bathroom. All of the living room devices were on the same circuit and only the router was hooked up to the UPS. I had to deal with the power outage so I missed the opening and I never recovered.
I returned to my trading station at 9:35 EST and since I was behind, my emotions got the best of me and I never recovered. I had 73 tickets and traded a total of 28330 shares. I lost $1766.96. Tomorrow’s goal, less than 20 tickets and no emotion. Make a plan. Trade the plan.
I started trading on December 23 and I thought that I would have the entire day to trade for the first time. I did make an appointment with my car for an urgent recall. I was up about $200 on AMD and had to go to the car dealer. I decided to test the trailing stop feature on AMD. I set it and tried to forget it. I thought it would trigger at $.30 drop, but it was set for $.50. It never dropped.
I took a partial and carried it while I did some last minute Christmas Shopping. The stock never dropped and I carried the open position over night. This morning I woke up to a $270 profit.
I learned yesterday to be careful with the 2000 share button at the open. I got buried with a $3500 loss and never recovered.
So I planned on using some hotkeys for today’s trading. I did. Then I chickened out. I was up a little bit today. Given my limited time this coming week, I am going to concentrate on opening range breakouts. I recorded my session on friday but not today. I will try to remember to record more in the future.
My two monitor setup is working ok. My attention needs to be on less and not more now. I am watching training videos every day.