Bad Behaviors and Trading Rules

Today, I traded in the first 30 seconds. Way too risky and the price action was not defined. This affects every trade later in the day. So here are the rules.

  • No trading in the first five minutes.
  • Use limited loss
  • Only make 3 trades maximum.
  • End trading in 1/2 hour.

Tomorrow morning, I will be in a Ramada Hotel. We will see what connectivity is like and trading from a laptop. You don’t even want to know how badly I am behind today. Let’s just say that it is safely in 4 figures.

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Short and Flip

Today, I tested a new Hot Key. It is the Stop and Reverse position. Essentially, this means that I get to a point and know or think I know that the stock will stop moving in a particular direction and catch the reversal. I wanted to go both ways on a rising devil. This means that I start with a short. I took it and made $198 then I reversed it and it continued down and I stopped out at break even. If I had waited a little longer, it would have reversed. I will examine later.

I took one 2000 share trade on a lower float and made $500+. This was successful but bad behavior. I ended the day with 31 tickets and up about $700. Glad I stopped. Still no word on my live account approval. Waiting is the hardest part.

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Crappy Days

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.

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War Fears

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

Tomorrow will be another day

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Hulk Day

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!

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The New Normal

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.

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Over Traded again…

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.

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Over Traded

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.

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Trading the Strategy

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.

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Power Failure

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.

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