Trader P/L 2009

[brownsfan019 17]

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

 

Excellent work and setup Thales!

 

What software are you using? I like the look.

 

 

Also - I started this thread to help any stock traders on the forum.

Edited May 13, 2009 by brownsfan019

[thalestrader 14]

Excellent work and setup Thales!

 

What software are you using? I like the look.

 

 

Also - I started this thread to help any stock traders on the forum.

 

I like that set up also. Anyone can enjoy the same set up for free at FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

 

You can scroll quickly through your list by tapping the space bar.

 

Like I said, nothing fancy.

[thalestrader 14]

I like that set up also. Anyone can enjoy the same set up for free at FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

 

You can scroll quickly through your list by tapping the space bar.

 

Like I said, nothing fancy.

 

By the way - I did not post the link that way with the "best blah blah blah" tag line. I don't want anyone to think I am somehow linked to or benefit from the free stock charts dot com web site.

[Robert Joyce 10]

MCM, I appreciate you comments and I understand all that. I am a day trader and I look to place 3 to 5 trades a day, I do use signals to enter, I do predetermine exit points. I have been trading for 3yrs now, both real and sim mostly and watch the indexes virtually everyday. My recent trading reports are based on real trades and I am simply trying to be honest about what is happening to me as I work through this extreme anxiety I feel when in a trade. But it's not the anxiety so much as the fact I seem to forget everything I know, but not really. It's a 'strange brew' if you ask me and just something I have to work thru. But for example I noticed on Brownsfan's report today on his 6E trades the last two were sure not exited at any predetermined profit. One was long one was short at virtually the same price both were exited very close to even... something was going on there and I don't think it was mechanical execution. I also talked to a broker today who admitted that the 'emotional' element is and has to be an integral part of all trades, the mastery comes in how you deal with it. Kind of like you have to trade through it. Anyways as I said I am really trying to be honest more for myself than for the report. But thanks again for your comments.

[MCM 10]

Couldnt agree more - it is about working through the process on your own. your posts always have a nice amount of thought processes you are going through during the day/trades - which I ring very familiar to me.

 

 

I really didnt want to come off in my previous post like some jack*** know it all...I am far from it - adleast the "know it all part" - as for the jack*** part, my wife would probably think I own some of it! So please accept my apologies if it came off in any way like that. My prose stinks...Im gonna shut my yap now! (3 posts in one day...the board has suffered enough)

[thalestrader 14]

I am simply trying to be honest about what is happening to me as I work through this extreme anxiety I feel when in a trade.

 

"There is CALMNESS before, during, and after the trade." - Richard Wyckoff

 

If only it were as easy to implement as it is to read.

 

Best Wishes,

 

Thales

[Soultrader 12]

Sloppy trading today... sent a order to buy while trying to move my stop resulting in covering my short way to fast. Uncanceled bracket order gets hit resulting in a loss, etc...

 

1 trade made up for all my profits today. (last trade on my pnl list) All shorts btw. Only traded 2 hours today as I was out the entire afternoon.

[bathrobe 10]

Hi brownsfan,

 

 

 

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.

 

 

 

Thales

 

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

[thalestrader 14]

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

 

Hi Chris,

 

For day trading, I am looking for the biggest percentage movers on that particular day at that particular moment. It is important to "reload" the list from time to time as a stock that was a big percentage gainer early in the session may now be slightly negative on the day and another stock that opened down may now be up several percent and poised to move higher.

 

Best Trading to you,

 

Thales

[hedonQ 10]

Mon through Wed trades ... riding a little bit of losing streak.

Mostly due to some weak position management: e.g. stop loss too tight and in the wrong place

and closing out a few trades too early (basically not sticking to the game plan).

 

I am trying out some scalping as well (the 10k trades). I typically execute a few setups a day which take

advantage of larger than scalp swings. I sit in front of the charts all day, I might a s well diversify the trading style.

We'll see what happens.

 

 

Good Luck.

[thalestrader 14]

Hi Folks,

 

Here are today's trades. I have included the charts as well. On the charts, the green ellipses mark entries.

 

You will see that my first HIG trade was stopped for a loss, and the second HIG trade was a winner that nearly erased that first loss.

 

The second ellipse on SNDK would have been an entry if I were still trading, but I am done for the day, and I did not buy at that point.

 

For the second day in a row, the bulk of my profits came from CME.

 

 

Best Trading to All,

 

Thales

[bathrobe 10]

Today was the first day I used VSA to make live trade decisions, one trade for 1 tick was on SIM, so the results are actually +3 ticks, not 1 point.

 

I am excited I was able to use VSA in realtime profitably, though I still have a long way to go with it.

 

I did not trade Monday through Wednesday, that is why no posts the last three days.

 

It is very nice to see how many more of you have joined the thread, it seems to be one of the most viewed on TL!

 

Also: Congrats on 3000 posts brownsfan

[Robert Joyce 10]

Ok, 3 YM trades, 1 contract; 1st trade long stopped out for 15pts, I have now moved my entry stop back up to 21 where it is set on my sim. Had it been there I wouldn't have been stopped out and the trade would have gone on to hit my normal limit at 30 pts. 2nd a pivot trade long again got stopped out for a 1pt profit.... namely because I moved my stop to even way too early. Third was a the same pivot trade long, I had moved my stop down to twenty, it moved against me and came within 1 pt of stopping me out. I decided the pivot trade may just break down so I got out near even with a 2 pt loss. This time the index continued on up and would also have hit a 30pt limit with room to spare. So I stopped trading there and ended the day down 16 pts.

As you can see I'm picking good trades but no real confidence just yet. couple of noob mistakes like moving my stop to even too early, and not having adjusted my stop when I decided to hold my trades longer. But I believe it is coming, day by day.... lol. All in all not a bad day just not great. I will post my trades later today.

[brownsfan019 17]

5-14-09

 

 

 

Not much to report.

[Soultrader 12]

Not a good day....spent the entire session trying to buy pullbacks looking for a rally into the close. Should of took smaller singles instead of aiming the triple/homerun.

[brownsfan019 17]

James - question/favor if I may - does your platform have any report tool that shows the trades in terms of dollars? I have no idea looking at your screenshots whether you made or lost money.

 

[Soultrader 12]

James - question/favor if I may - does your platform have any report tool that shows the trades in terms of dollars? I have no idea looking at your screenshots whether you made or lost money.

 

 

Hi Bf, the brokerage firm is working on it at the moment to show PNL in USD. It may take some time.... the reason my platform does not show is because:

 

1. I am using an ISV (3rd party platform apart from the broker. You can see how the FCM is linked to NH Futures for this particular account. I clear through a FCM directly.)

 

2. KOspi trading requires deposit in KRW. As a result my entire balance is in KRW which I cant seem to understand as well. All I know is that 1 tick is equivalent to 25,000 KRW or approximately $20USD or something.

Edited May 15, 2009 by Soultrader

[hedonQ 10]

Thursday trades.

 

Tough market, you have to grind it to get something done.

 

 

The scalps (the 10K trades) are not working. But I am not sure I know exactly what I am looking for. I'll be replaying the charts this weekend, see if

I can scoop up some supply/demand dynamics for a methodology.

 

Good Luck.

[bathrobe 10]

Today I actually fell asleep at my computer, luckily not in a trade but kind of funny. Ended day +1tick on 1 ES contract.

[thalestrader 14]

Hi Folks,

 

Just two trades today, both in the afternoon. Neither made it much past the starting gate.

 

Best to your weekend!

 

Thales

[thalestrader 14]

The scalps (the 10K trades) are not working. But I am not sure I know exactly what I am looking for. I'll be replaying the charts this weekend, see if

I can scoop up some supply/demand dynamics for a methodology.

 

Good Luck.

 

Hi there,

 

What is a "10K" trade.

 

Thank you,

 

Thales

[thalestrader 14]

Hi Folks,

 

For anyone interested in freestockcharts.com, I just received an email from them with the following link to some videos on how to use the software.

 

FreeStockCharts.com Videos

 

Best Wishes,

 

Thales

[brownsfan019 17]

5-16-09

 

 

 

Took a few trades to get there, but got an acceptable profit for the day.

[hedonQ 10]

Hi there,

 

What is a "10K" trade.

 

Thank you,

 

Thales

 

 

Under the "units" column, 10,000. That's the size traded.

I wanted to distinguish between scalps (the 10k trades) and setups I've been trading day to day (larger swings).

 

 

I'd like to diversify the trading style. I am thinking, starting with a smaller size would make sense.

IHTH

[vitality 10]

Hi Trader P/L

 

I think what you are doing is a good idea....it even makes me want to learn the mechanicals better...just accurate placing of orders....etc

 

There is something to getting quick enough and skilled enough to do exactly what I want to do....even that can be a concern for someone starting out.

 

Thank-you

 

Vitality