Trader P/L 2009

[Robert Joyce 10]

Ok, nothing to report, I did not take any trades on Friday, options expiration can make for some strange moves on the indexes, and if you are not up by Friday the temptation is just too great to try and get even and if your wrong you have to live with it all weekend, and I just hate that. Better to start fresh on Monday then I have the whole week.

 

Getting back to the question of trading alone or with a trading partner. I talked with a broker and a compliance officer and they brought to my attention that every trade in a brokerage and even down on the floor of the exchanges generally requires 3 people; the trigger-down on the floor of the exchange; the spotter who is actually deciding on which trade to enter; and the reviewer to make sure the trades are technically correct and meet guidelines. Even in brokerages many traders sit in a 'pit' or room and there is alot of synergy between traders, and some who do prefer to trade alone. so I would have to say that in terms of the total trades done on say the ES or YM the bulk are done by traders who are in constant banter with another trader and those trading alone would be in the minority. Now because of the computer and the situation of most 'day traders' probably most of them are trading alone. Personally I like to trade with my one of my 2 trading buddies on my speaker phone. Because my long distance is cheap-cheap I keep the line open and it is like we are sitting right beside each other.... both looking at the same index charts, the same data feeds, etc. trading the same emini and still virtually all of our trades are different. Depending on what indicator and how you trade there are probably 100's of trades everyday that could be taken. Anyways I enjoy having a buddy to trade with, I've tried it alone and sometimes you have to because no one else is available but I certainly prefer a buddy. I find the constant banter helps to keep me focused and on the right side of the trends.

All in all not a bad week just not great, and Monday is the start of a brand new week and I'm really looking forward to it. Good luck to all of you.

[MCM 10]

Light trading on Friday for me. One ES trade and two swing trades - will put up the final results when they occur.

 

(Thales....I did use your screening criteria along with my trading style - and lo and behold have got a couple nice trades going. Will see where Monday brings them. Shorted both of them into heavy supply as they were skyrocketing up.)

 

One trade in the ES - for a 38 dollar loss (one contract, stopped out for 3/4 pt loss.) Which brings me to my question. During the sole ES trade - market just sort of sat there. Went up 1 1/2 pts..then back down to my entry......and stopped me out. Seems the market needed to go another 2 pts lower before it popped up. Followed the trade set up and exit - so no complaints. Unfortunately, no profit either.

[thalestrader 14]

(Thales....I did use your screening criteria along with my trading style - and lo and behold have got a couple nice trades going. Will see where Monday brings them. Shorted both of them into heavy supply as they were skyrocketing up.)

 

Hi MCM,

 

Just to make sure that I haven't misled anyone, the screening that I shared is what I use for day trades only. All of my day trades are closed by the end of the regular trading session.

 

Also, and again just to clarify what I had described in my earlier posts, typically I am a buyer of stocks that are "skyrocketing up." I usually only short stocks that are already moving lower.

 

I wish you great profits from your trades!

 

Best Wishes,

 

Thales

[thalestrader 14]

Getting back to the question of trading alone or with a trading partner ... Personally I like to trade with my one of my 2 trading buddies on my speaker phone ... I enjoy having a buddy to trade with, I've tried it alone and sometimes you have to because no one else is available but I certainly prefer a buddy. I find the constant banter helps to keep me focused and on the right side of the trends.

 

"For perfect concentration as a protection from stock tips, gossip and other influences which are rampant in a broker's office, [the trader] should, if possible, seclude himself. A small room with a ticker, a desk, and a private telephone connection with his broker's office are all facilities required. The work requires such delicate balance of the faculties that the slightest influence either way may throw the result against the trader. You may say: "Nothing influences me," but unconsciously it does affect your judgement to know another man is bearish at a point where you think stocks should be bought. The mere thought, "He may be right," has a deterrent influence upon you and clouds your own judgements; you hesitate and the opportunity is lost. No matter how the market goes from that point, you have missed a beat and your mental machinery is thrown out of gear." - Richard D Wyckoff, Studies in Tape Reading

 

Just thought it would be of interest to offer a counterpoint to your opinion regarding trading alone or in the company of other traders.

 

I wish you a wonderful weekend and much success this coming week!

 

Best Wishes,

 

Thales

[MCM 10]

Hi MCM,

 

Just to make sure that I haven't misled anyone, the screening that I shared is what I use for day trades only. All of my day trades are closed by the end of the regular trading session.

 

Also, and again just to clarify what I had described in my earlier posts, typically I am a buyer of stocks that are "skyrocketing up." I usually only short stocks that are already moving lower.

 

I wish you great profits from your trades!

 

Best Wishes,

 

Thales

 

Aye - we definitely trade with different styles.

 

I had been watching some of the stocks that appeared on your screen you had mentioned - and found it was an easier approach for me to find appropriate candidates for my trading style then pushing through my typical 50-75 stock universe. Especially in the early portion of the day when some of my universe was not showing any movement.

 

Just goes to show - more than one way to skin a cat. I am hopeful I can reach the same success with my methods that you have with yours.

 

Cheers...

 

 

 

Thanks

[MCM 10]

Post by Brett Steenbarger concerning trading with a mentor/group. Thought of our recents threads...

 

TraderFeed: Cross-Talk: Trading as a Team Sport

[thalestrader 14]

Hi there folks,

 

Today was my first day with my new firm. Traded fixed size, i.e. fixed number of shares per trade. Profit listed is per share, not per trade, e.g. a -$0.03 loss is 3 cents per share * Number of shares traded.

 

Today's stats:

7 trades

4 Losses

3 Wins

 

Total profit for today, including costs, was +$1.08/share traded total.

 

Best Trading to you all,

 

Thales

[bathrobe 10]

I am still trading with very small account for time being. I am selling my stake in the family biz. Should be up and at full steam in the next two weeks.

 

My trading psyche is not where it should be because I have an insatiable need to lock in profits very quickly.

 

This site offers great insight into real, usable trading setups and has a giant leg up on all other trading sites I have seen. (Pretty sure I have seen them all!)

 

Regarding today, I am a relative newbie to VSA and thought I spotted a picture perfect setup in the ES, turned out to be not what I had hoped for and was a bit of congestion rather than a quick move down. I also had a poor entry. :crap: 1 contract for 1 tick.

[hedonQ 10]

Monday's trades ....

 

Some good setups and entries today however trade management is something to be desired.

 

I've spent countless hours and effort on setup definition and developing setup execution skills.

I downgraded "trade management" to second class citizen and it shows. My thinking was,

If I don't have a good setup what's there to manage?

 

I think I have some work cut out for me.

 

Good Luck.

 

3min chart

 

[thalestrader 14]

3min chart

 

 

Why do I not see the chart?

[Robert Joyce 10]

Ok, just 2 trades of 1 YM contract both shorts, for a total of 11pts or $55.00 The first one just ran out of time and the 2nd I admit I got nervous and jumped out, it went on for a 20 pt move. There were 2 other good signals that I missed. Then I waited around for a good short I thought was developing late in the day, but I just couldn't get enough confirmation so I waited and watched and sure enough it just went higher. Hate it when that happens. Anyways another small but winning day.

[DaKine 10]

Alright here goes Imma join you gays in posting my P/L. Had two shorts togay for 1.75 points total. I usually like to try and get +5 or more but lately my MFE has been max 2.5 - 3. Maybe need to readjust my targets or take 1 off at +2 or 3. Shorts were tough today but I couldn't get a handle on where to get long. The long off Fridays VAH was money but I missed it

[bathrobe 10]

Thales,

 

Late last week I began paper trading stocks using the gain/loss scan and came across Red Hat early in Friday's session, it pulled back some and would have been a nice gain if the money were real.

I plan to incorporate this strategy to trade stocks in the future.

 

Thanks,

 

Chris

[Soultrader 12]

Sorry guys, been a bit busy lately. Trying to work out a partnership with a charity organization... goal is to start building libraries in developing countries as a collective effort by the TL community. Should have some sort of announcement by this week regarding it. Btw a library can be built for $19,000.... if everyone here donated $1 we could easily build one.

 

Todays trading - 1 trade... morning session was rangebound with minimal activity. Same with the Nikkei. Initial plan was to get on board a move into the afternoon. From the price and volume action, the anticipated move was upwards. Hence, my long setup.

 

For ES traders, the PNL is equivalent to 6 - 6.5 ES pts per contract. Kospi is volatile and can be quite fun

[brownsfan019 17]

Didn't do much in terms of trading on Monday. Small gain, but nothing to get excited about. Had a few other things going on, incl getting ready for a Browns fundraising event that I went to last night. Got 2 really nice pieces in the silent auction, so very happy about that.

[ashmat 10]

Hi All,

 

I have been a member for a couple of years now and traded the e-mini's for awhile. I had some success, but ultimately did not have enough capital to continue trading full time and eventually eroded most of what I had. I am back trading, albeit on a much smaller scale. I am currently trading Forex and was wondering if you allowed Forex trade results on the P N L forum? Forex is my least favorite trading platform, next to stocks and then futures, but I did want to measure my results and thought the forum would be a good place to do so and maybe get some helpful feedback as well. My account is small, but I place at least a trade per day, usually more. Please let me know what you think. I am an experienced trader and hope to get back to full time status. Never give up!

 

Thanks!!

[thalestrader 14]

Imma join you gays

 

I must say that that is a rather outrageous assumption

[hedonQ 10]

Hi All,

 

... was wondering if you allowed Forex trade results on the P N L forum

 

Thanks!!

 

I think this is "accountability" thread through PNL. I would say it would be allowed.

 

I post gbp/usd trades here ...

 

Welcome back.

 

Good Luck.

[bathrobe 10]

I must say that that is a rather outrageous assumption

 

:haha: LOL, that was good.

[thalestrader 14]

I am currently trading Forex and was wondering if you allowed Forex trade results on the P N L forum?

 

I'm going to go out on a limb here and say, "Of course!"

 

Best to your trading,

 

Thales

[hedonQ 10]

Why do I not see the chart?

 

... not sure. Works for me.

 

[thalestrader 14]

Hi Folks,

 

Here are this morning's trades. I'm not sure that I'll be able to trade this afternoon. Again, all trades today were the same size (same share amount) per trade.

 

 

Total profit = $1.83/share or $0.366/share traded

 

 

Best Wishes,

 

Thales

[brownsfan019 17]

You are more than welcome to join us! Everyone is welcome here!

 

 

Hi All,

 

I have been a member for a couple of years now and traded the e-mini's for awhile. I had some success, but ultimately did not have enough capital to continue trading full time and eventually eroded most of what I had. I am back trading, albeit on a much smaller scale. I am currently trading Forex and was wondering if you allowed Forex trade results on the P N L forum? Forex is my least favorite trading platform, next to stocks and then futures, but I did want to measure my results and thought the forum would be a good place to do so and maybe get some helpful feedback as well. My account is small, but I place at least a trade per day, usually more. Please let me know what you think. I am an experienced trader and hope to get back to full time status. Never give up!

 

Thanks!!

[bathrobe 10]

Thales,

This is probably a stupid question but I am operating under the "no question is stupid" rule. I have never day traded stocks, so when you are looking for biggest gainers, is that on an intra-day basis or biggest gainers in the recent past?

 

Thanks

Chris

 

Thales,

 

This is the chart of the equity day trade (paper) on Friday, would this have grabbed your attention?

 

Thanks,

 

Chris

[DaKine 10]

ES trades today Long off the open for +4.5 then took an aggressive short at the vwap with reduced size and got owned for -4. Took a long at DVAH expecting new HOD, instead we got back down to VWAP where price held for for the 4th time so I added then scratched my original long and rode the balance for +8. +8.75 for the day. Btw for the MPers out there the long off yesterdays single at 904.25 was money, again I missed it as I was long prior to us getting down there ... That single was LOD. c'est la vie... Lets get em tomorrow!!!

 

Payce

Edited May 19, 2009 by DaKine