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brownsfan019

Trader P/L 2009

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Hello gang,

 

Been lurking this thread for some time. Managed to open an individual account in Korea for the KOSPI contract and would like to start posting some trade logs here. Ive also started my own trade blog but remains private for now. Please note that my account and PNL are all based in Korean won.

 

Todays trading: Poor position management but yet still managed to do okay. PNL: +24 ticks per lot.

4.jpg.1c18113a96f9e9c085896ca8b0ec45a3.jpg

Edited by Soultrader

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Hello gang,

 

Been lurking this thread for some time. Managed to open an individual account in Korea for the KOSPI contract and would like to start posting some trade logs here. Ive also started my own trade blog but remains private for now. Please note that my account and PNL are all based in Korean won.

 

Todays trading: Poor position management but yet still managed to do okay. PNL: +24 ticks per lot.

 

James - help me out, what does that equate to in terms of US dollars?

 

:)

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Several weeks back I was posting my EC trades. Since then I slightly modified both my setups and execution. I also decided to post my trades on my own thread. I did this simply because this thread is very busy! I would like to thank Brownsfan019 for starting this thread. Posting one's trading results and having that accountability is a big help.

 

 

If anyone is interested in my EC trading, which started today, you can find it on this thread.

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James - help me out, what does that equate to in terms of US dollars?

 

:)

 

Kospi is roughly $25 USD a tick. Although the won has taken a hammering over past 6 months, but should be close enough for approximation.

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A crappy to start for the week, I had such a good week last week that i didn't want to give up the gains, well I made stupid trades and a mistake going short when i was trying to cover a short already. It ended up costing me $250, without that mistake I would have been positive for the day but I certainly didn't execute my trading plan. Hopefully I can shake it off and start fresh tomorrow.

51109.thumb.jpg.ec5406ecfc36833900b20be2d2293594.jpg

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Lots of chop today in the ES. Didnt hit any bigtime supply/demand levels, so ended up trading via my fib/timing patterns. Had entries according to the plans - trades just didnt materialize. Stops were followed.

 

A good day of following my rules and gameplan.

Results - well - werent great. I guess sometimes the market wont giveth.

 

 

Someone always said there would be days like these...

5aa70ed19919a_May11.jpg.1bf2ff44e6fbed1bcbc2607f575010fd.jpg

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Ok, so 1 trade for 1 YM contract with a 2 pt gain for a whole $10.00 I couldn't start until late in the day and I got in a little early so when I got back to even I just sold it, eventually it did go to my limit @15 pts but then promptly sold off again. Choppy, range bound day, tough to read so I closed my real account and took 2 sim trades for 4 pts on the ES but they don't really count. Should be a good day tomorrow. And I will soon discover how to take a screen shot for yous guys...

But I must say I like reporting here daily, not really sure why..... lol lol lol

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And I will soon discover how to take a screen shot for yous guys...

 

Easiest way is to use SnagIt or something similar. If you are taking screenshots of your trades from the day w/ annotations, then just use whatever you are using there. If you aren't doing that, well... now is a good a time as any.

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Hi Brown,

 

It has been very kind of you to invite me to your resourceful thread.

 

I will ensure to contribute constructively to this wonderful thread.

 

Healthy And Wealthy Trading.

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Ok, so I traded 10 times today on the YM, 5 of them were 2 contracts the rest just singles. Short version is I dug myself two holes then had to dig myself out. Ended the day with a $10.00 gross profit less $75. cost of trades which is bad relative to the day but usually cost of trade is in the 10 to 20% of profit so I am actually happy with the end result. Whew..... I just did not expect the bounce off the bottom to go as far as it did, just kept smashing thru my longer term ema's and bouncing higher off the pivots. Out of 10 trades there were 5 winners and 5 losers. Anyways, I did accomplish trading 2 contracts which was one of my short term goals. I will stay at the one/two level until I have substantial consistency. The big reason for two is that it allows you to scale out of a position, adjust your stop to get risk free and still have your stop below your entry ala Mark Douglas. So all in all not a bad day.

Actually I just had a good look at today's chart and I am lucky to be alive, in my excitment I missed one of my prime signal which would have put me on the right side of the afternoon move up. Although it was two shorts that saved my ass both were my largest trades of the day one for 20 and 30 pts. with 2 contracts. Just ______g lucky, well not really, the other thing I did right was to take at least those two high percentage trades and not just through my hands up in disgust and walk away. So again all in all not a bad day and looking forward to tomorrow.

Oh one more thing... there is a fine line in the mind that measures the difference between 'reading' the market and 'predicting' the market. Predictions may or may not come true whereas the market always tells the truth if you can read.

5aa70ed287af4_5-12-20093-40-41PM.png.ef8b29461b7768887a03abf26885d36e.png

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Thales - very impressive on your stock trades! I'm curious - how do you screen for trade ideas? That was always my issue w/ stocks - the universe is so big that you inevitably miss some good ones. If you want to share, I'm all ears. If not, I understand.

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Spent the day on the trading plan - rewriting some parts and working on the Van Tharpe homework. Took two trades towards the end of the day.

 

Market seems to be at a huge inflection point. My downside bias is itching to get short. Will wait for the appropriate set up.

 

Thales - agree with Brownsfan - is a pleasure watching you hunt out some of these stocks. Your trader IQ seems to say beginner - your results scream something far different!

5aa70ed3b4807_May13.jpg.ee50a5d206b9a96ac7f880a919808613.jpg

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Ok, so traded for real again today, but not until late in the day. I usually am up and watching the open, watch the first hour to see how that shapes up, then had some business I had to take care of. So it seems I usually don't feel confident enough until the afternoon. Today i put on 2 trades on the YM both for 1 contract. First one stopped out for 16 pt loss with a 15pt stop, so a little slippage there and the second one I took back 14 pts so gross profit for the day was -$5.00. I was going to hold onto the second one to see if we would get a late day bounce like yesterday but we were down at the S-2 and getting out at even seemed the wiser move. Then I just stayed out and watched all that whipsaw BS at the end of the day.

Which brings me to my muse for the day, what is a 'trade'. At it's most basic form it is taking a position in a security that has the potential for gain or loss, period. However it also has to include some decision process as to whether or not to enter which must be based on a system or signal or even gut feeling, even if it is just flipping a coin. Now I know this is starting to sound pretty pedantic or over simplified but wait here is my point. If I am brutally honest, when I ask myself what was the last thought before I pushed the button, even after a long systematic consideration of a signal and other confirming data with a predetermined exit strategy, the last thought before I push the button is always more like an emotional one, or a gut feeling than the mechanical execution the system. So I ask the question 'what is a trade?' It seems to me that the last thought you had is the one that really determined whether or not you entered the trade even though it came at the end of a long considered process.

Here is a snap of my trades yesterday, I don't get a statement until the next morning so even though I report my daily trades the snap will be of yesterdays until I get this sorted out.

Anyways all in all not a bad day, just not great. One more question how many of you trade with a partner or buddy and how many trade alone. I trade with a buddy on speaker most of the time and often we can get involved in discussions that cause me to lose my concentration but it also provides a good sounding board and moral support(lol lol).... but it's true. So which is better with a partner or alone?

5aa70ed3b9496_5-13-20091-21-09PM.png.b32322e7f076ed875c639ab6270434ad.png

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5-13-09

 

attachment.php?attachmentid=10697&stc=1&d=1242249403

 

 

Nice trading on the 6E today. Actually missed another juicy setup or would have pushed this over $1k on the day today.

 

Bonds = net zero

NQ = loss on day

 

When I get a little more time I'm going to discuss using a lower timeframe to time my entries better.

5-13-2009.png.08865ca6a5340f2bb734386c07ac20f2.png

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I was going to hold onto the second one to see if we would get a late day bounce like yesterday but we were down at the S-2 and getting out at even seemed the wiser move. ........

 

If I am brutally honest, when I ask myself what was the last thought before I pushed the button, even after a long systematic consideration of a signal and other confirming data with a predetermined exit strategy, the last thought before I push the button is always more like an emotional one, or a gut feeling than the mechanical execution the system. So I ask the question 'what is a trade?' It seems to me that the last thought you had is the one that really determined whether or not you entered the trade even though it came at the end of a long considered process........

 

So which is better with a partner or alone?

 

 

Robert - let me preface by saying I have only been trading for the past 8 months or so...actively even less than that. Reading and attending some classes for a bit longer - so my opinion carries little water - but the nice thing about chat boards - is you can throw it up - and then see what some of the Master Traders who reside on this thread think. (really have gotten to respect some of the words & wisdom y'all throw out).

 

"What is a trade" Simply put - it is you attempting to extract money from someone else. So in the price/chart - you need to appreciate that opportunity - otherwise you shouldnt get into the "trade".

 

When reading your updates - it seems you dont always have an exit in mind with your trades. That indeed - you are exiting on your gut feel. From everything I have read/gleemed/picked up from some of the experts - that is a recipe doomed for failure. Unless you had planned on getting out at the S2 level before you hit the trigger to buy/sell - it shouldnt be a decision at that point. I am wondering if it had more to do with you getting "even" for the day with regards to money.

In other words - before you enter a trade - you should already have the exit planned. (this is where you take away the money from the person who entered the trade with you) Then walk away. If the market has some major hiccup or some disaster happens externally - you can always change your stops - but it shouldnt occur too frequently. This has been incredibly difficult for me to learn - as I was always concentrating on the money (green/red) during the intial few months - and really got out of many trades way too early.

 

So every set up should have an acceptable loss (or dont get into the trade) - a Risk/Reward that fits into your system (or dont get into the trade) - and let the market go where it desires. (and let your stops take you out of the trade) In the end - you are trading your own personal edge.

 

In that respect - I am a solo trader - since I have my own system. The rules would therefor not make sense for someone else trading. I doubt I would feel comfortable trading the way Brownsfan/bathrobe/thalestrader does due to the fact we are entirely different people.

 

These forums are nice in that they keep you connected to a community - but dont influence your day to day actions.

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I'm curious - how do you screen for trade ideas? That was always my issue w/ stocks - the universe is so big that you inevitably miss some good ones. If you want to share, I'm all ears. If not, I understand.

 

 

Hi brownsfan,

 

No problem, I have nothing to hide.

 

1) I trade S & P 500 stocks only, except for an occassional IBD 100 stock.

 

2) I monitor the 10-12 biggest gainers and losers on a percentage basis. I use the biggest gainers for long candidates and biggest losers for short candidates.

 

3) I select trades based upon support/resistance, chart patterns etc.

 

4) All trades are based on decisions made watching the 5 minute chart.

 

5) I use no indicators other than I do from time to time place a 20 EMA on the 5 minute chart. I will sometimes use pullbacks to the 20 EMA to buy/sell short.

 

So I am usually watching just 20 stocks, though I have the whole SP500 list on my screen. I simply scroll down through the top 10-12 gainers, and then I click on the %change column, and the watchlist reverses so that the biggest losers are now at the topof the list. I scroll down through the top 10-12 biggest losers. That is how I narrow the universe of stocks down.

 

When I am scrolling through the 10-24 stocks that comprise the biggest winners/losers of the moment, I am looking for potential breakouts from consolidations, flags/pennants, etc. As an example, I re-attached the CME chart from today. I was a buyer in the area highlighted within the green ellispse. As I always say, nothing fancy.

 

Also, you will see that I included my watchlist in the screenshot.

 

Best Wishes,

 

Thales

5aa70ed3d2d98_5-13-2009CMEandSP500List1.thumb.jpg.50a5f5ac25faabced53cace147412ab0.jpg

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Spent the day on the trading plan - rewriting some parts and working on the Van Tharpe homework. Took two trades towards the end of the day.

 

Market seems to be at a huge inflection point. My downside bias is itching to get short. Will wait for the appropriate set up.

 

Thales - agree with Brownsfan - is a pleasure watching you hunt out some of these stocks. Your trader IQ seems to say beginner - your results scream something far different!

 

 

Hi MCM,

 

I've been trading for a good while. My results have gotten better as my approach has gotten simpler. Also, as I am a daytrader, I don't go into the day with a bias bull or bear. I do not listen to news, I do not listen to CNBC, I am not in a chat room, and I am not posting on forums unless I am done for the day (or at least done for the morning session).

 

One thing that has helped me immeasurably is risk and money management through position sizing. Van Tharp is an excellent source for learning how to implement position sizing into your trading. I know where my stop is on every trade before I make the trade, and the number of shares I trade is based on the initial risk between my entry and my inital stop loss. In my opinion, position sizing is the tru Holy Grail of trading.

 

I wish you well in your trading,

 

Thales

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