My monthly numbers:
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Wins: 30 Losses: 22
Avg Win: 39.45 Avg Loss: -62.20
Gross Trading: -184.91
Commissions: -205.40
Net Trading: -390.31
Biggest Win: 222.00 Biggest Loss: -250.00
Data Fees: -81.64
Interest: 218.00
Account Net: -253.96
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This is the third month in a row that I felt my trading sucked. The good thing is during this sucky period - I did not even lose 1% of my trading account. That is sucking done right.
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Really, looking at all my trades, the two biggest losses should have been my two biggest wins. I thought when I shorted the electronic T-bond contract - it was a mini. There is no T-Bond mini contract. I put a very tight stop loss on it. I got stopped by 2 ticks before it turned and went in the way I thought it would by $1250. The other trade was the EFT XHB. It was going to be a swing trade but on the second day it hit a new low without recovering much by days end. I sold it. A couple of days later, it was $1500 higher and I was visiting my parents away from any computer. Such is life.
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We start another new month and I say to the markets - "Bring it on!!!!!"
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8 comments:
You haven't had any huge meltdown, you keep your sizing under control, you know how to not lose and best of all, you've got a great attitude! Keep the enthusiasm and you'll be whupping some ass very soon.
Good luck in October, Jeff.
thanks
your trading does suck.
stop it!
i read your blog, its very good, thank you. but i always think that you trade too much. trading is purposeful, to make money from something that is growing in value. your trades seem to come when there is not even much potential to realize profit. it seems that you are trying to make money from chart patterns, hum. also the idea that you can afford to lose is not a bright idea. no one can afford to give away cash, not even mr. bill gates. inflation doesn't adjust on a personal level. i think that you would do better holding a position until there is a percentage gain, then decide when you want to take some off the table.
theopener - You want him to abandon stoplosses and imagine that this is going to make him more money? Sounds like just the sort of delusion that a person who sneers at the concept of affordable losses would have. Are you so ignorant of trading that you think all stocks just move up? Why it's so simple, why didn't we think of that?
When you decide to put your money where your enormous mouth is, why don't you tell us. Can't wait to watch the unrealized losses pile up.
I think sometimes your stops are just too tight and you wind up missing out on potential profits because you're getting stopped out way too soon
tyro,
my money is where my mouth is. i am in the markets in a big way.
i like the denarii trader. since i discovered this blog i read it 3 - 4 times a day either on the blogspot or through the feed that i subscribed to.
denarii said it himself, that his trading sucked! i commented on my observation that there are a lot trades that seem to have "affordable losses" hey, if he did not want them seen he would not publish those trades. i made some rational comments based upon what is published on his very interesting blog.
good discussion - I tried to trade 3-7 times a day. This is a day trading blog. A lot of my posts are missed trades.
My stops are too close too often. Other times I am just becoming chicken too quickly. I am trying to trade for a living and I just started. The concept has messed with my mind. It is a big mental game for me right now.
thanks for all the comments and reading the blog
Denarii, congrats to a good month. I call it a good month because you've: 1) stayed in the game 2) controlled your losses 3) learned from mistakes (and continue to learn) 4)stayed disciplined with documenting your trades daily.
You just started trading for a living, so give it some time to establish the right level of confidence. You have good support around you too. Good luck!
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