Trader P/L 2009

[thalestrader 14]

Hi Folks,

 

No stock trades today. I did an ES trade, the details of which may be found in excruciating detail on Brownie's Volume thread. Net 4.5 points/contract.

 

My daughter was 1/2 today. She finishes at $62.54, up $2.22 from yesterday's 60.32.

 

Have a happy and safe weekend!

 

Best Wishes,

 

Thales

[hedonQ 10]

tough week in GBP/USD ...

 

very choppy since Friday. It might be the range the ccy has been last few weeks and the lack of volume(?).

 

 

 

 

Have a nice 4th July.

[brownsfan019 17]

I'm taking a little time off so won't be posting much here for a bit. Just need a breather from trading, forums, etc.

 

I hope you guys keep the thread going and I'll be sure to see how it's doing when I am on TL.

 

[thalestrader 14]

Hi Folks,

 

No stock trades for me today. I did win 5.52 points on an es trade and 30 ticks on an 6E trade. I posted the charts (after the fact) over in the Brooks price action thread.

 

My daughter took a long trade on the EURUSD about the same time I went long the 6E. She did better than I, however. She manaaged to squeeze just ocer 46 ticks out of her position. She goes to bed tonight with the microlot account at $67.16, up $4.62 from last week's closed equity of $62.54.

 

Best Wishes,

 

Thales

[thalestrader 14]

Hi Folks,

 

Looks like this thread is withering on the vine, but I'll give it one last go to see if anyone else is interested in keeping this going for Brownie.

 

I had no stock trades today. I was out in the morning, and jumped on the short side this afternoon. Short the ES for +4.25 points and short the 6E for +11 ticks.

 

My daughter traded this morning while I was out, and she grabbed 100 ticks or so on an EURJPY short. She goes to bed tonight with closed equity of $78.86, up $11.70 from yesterday's $67.16. Not bad for having started with just $25 less than three weeks ago.

 

Best Wishes,

 

Thales

[bathrobe 10]

Good day all around, done early. +5,450

[pimind 10]

here are my trades for 7/7

 

pretty good day.

 

[Marsupilami 10]

Hi Folks,

 

 

My daughter traded this morning while I was out, and she grabbed 100 ticks or so on an EURJPY short. She goes to bed tonight with closed equity of $78.86, up $11.70 from yesterday's $67.16. Not bad for having started with just $25 less than three weeks ago.

 

 

 

Thales, can you adopt me, lol ?

[pimind 10]

At a 3% per day she will be a millionaire by the end of the year. congrats.

[thalestrader 14]

Thales, can you adopt me, lol ?

 

Who's your daddy? lol

 

But seriously, all she is doing is applying the basic s/r that I have posted here at TL on many many charts.

 

 

At a 3% per day she will be a millionaire by the end of the year. congrats.

 

So do you think I should pull her out of school, or should I let her continue into the fifth grade?

 

I think FXCM Micro cuts you off at $5,000 or something like that, and as I've said before, she is on a very good run. I assume eventually her equity curve, like any market, will go into a correction. Though I have to admit that the thought of her earning enough from trading over the next seven or eight years to pay for her college education gives me fleeting moments of joyful expectation.

 

I have made a deal with her: If she finishes the summer with $250 or more in the micro account, I will take $250 from the micro account, and add another $2250 to fund a futures account in which she can trade one lots next summer. Anything over the $250 is hers to keep.

 

At any rate, we are both done for the day. No stock trades again for me today. These transitions betwen bull and bear swings often lead to a few days and even weeks where the opportunities I like to trade are few and far between. I did trade the 6E, and made 40 ticks on two contracts and 41 ticks on a third. I also did a short on the ES, but closed it with just a one point profit. I felt like I had chased the short and I don't like that feeling, so I just quit the trade. It is the only time I let my feelings trump what I am seeing on the charts: If I feel I entered on emotion rather than technicals, I jsut get out and forget about it.

 

My daughter had a short EURJPY trade that she exited with a pre-set profit limit of 90 or 100 ticks. Too bad, because it ran for about 300 ticks and counting from her entry. She will go to bed tonight with a closed equity of $89.64, up $10.78 from last night's close of $78.86. As you will see in her equity run, her trade yesterday must have closed after some elusive cut off time, and so it is included in today's equity run. Thus, it shows a total profit of $22.48. That is a two day total for her.

 

Best Wishes,

 

Thales

Edited July 8, 2009 by thalestrader
typo

[Dinerotrader 10]

Thales,

You really need to get her to post a couple charts of her trades and have her explain her entry and exit points. We're all getting curious and I always enjoy being taught by younger folks with a fresh outlook.

She must feel like trading is the proverbial money tree with how much success she has had. I remember my first stock trade when I was 16 years old. I bought stock in Sweet Tomates because I was an employee there and they seemed to be a growing company. The stock doubled after a month and I sold for ~100% gain. My dad got worried that I would think that is the way it always works. Looking at my stock portfolio today is a good reminder that making money is sometimes very hard. I think it is probably best for her to have some great gains in the beginning so she is more encouraged to keep learning.

Cheers.

[pimind 10]

Some examples would be great I 2 am getting curious, once she hits $500 she will be entered in the king of the micro contest, prizes i think r still up to $25000, some people in that contest make a ton some are up 1000% for the month, extreme leverage I guess anyway congrats to her and you it is great to see that she is doing so well. and as for fifth grade , if she keeps this up i would consider a tutor. lol....

[thalestrader 14]

Thales,

You really need to get her to post a couple charts of her trades and have her explain her entry and exit points. We're all getting curious and I always enjoy being taught by younger folks with a fresh outlook.

She must feel like trading is the proverbial money tree with how much success she has had. I remember my first stock trade when I was 16 years old. I bought stock in Sweet Tomates because I was an employee there and they seemed to be a growing company. The stock doubled after a month and I sold for ~100% gain. My dad got worried that I would think that is the way it always works. Looking at my stock portfolio today is a good reminder that making money is sometimes very hard. I think it is probably best for her to have some great gains in the beginning so she is more encouraged to keep learning.

Cheers.

 

As I've posted elsewhere, I am in no hurry to have her actively post on any internet forum, especially one where the other participants are nearly 100% adult males.

 

She marks her charts up very simply, identifying S/R, Highs, Lows, etc. She does not have email on her computer, so I'd have to mark them myself or set her computer up with email. I'd prefer to re-do her charts myself on my computer. As she usually only take one or two trades/day, this shouldn't be muchof a problem. I'll try to start doing this soon, if not today.

[thalestrader 14]

Hi Folks,

 

We finally had a day with more than three or four candidates offering the type of opportunity for which I look.

 

COG +92 pennies/share, WYNN +119 pennies and AKS -31 pennies for a total of +$1.80/ share traded.

 

My daughter was two for three today. She had a losing EURJPY and a winning long EURJPY that ended up netting just over +30 ticks, and a winning long GBPUSD that netted +100 ticks even. Trading at approx. 20 cents/tick (two microlots), her total profit was $27.16, and as she goes to bed tonight, the microlot account has a closed equity of $122.75

 

Best Wishes,

 

Thales

[bathrobe 10]

My daughter was two for three today. She had a losing EURJPY and a winning long EURJPY that ended up netting just over +30 ticks, and a winning long GBPUSD that netted +100 ticks even. Trading at approx. 20 cents/tick (two microlots), her total profit was $27.16, and as she goes to bed tonight, the microlot account has a closed equity of $122.75

 

 

 

Thales, I am extremely impressed by your daughters trading. You must be a very good teacher and very proud. Actually, I know you are are a great teacher because of the help you have given me (spotting divergence without using an indicator (MACD histogram in my case)

 

 

 

 

As for my P/L posts lately which have been infrequent, I have been in and out of town and helping with my family's business.

[thalestrader 14]

Thales, I am extremely impressed by your daughters trading. You must be a very good teacher and very proud. Actually, I know you are are a great teacher because of the help you have given me (spotting divergence without using an indicator (MACD histogram in my case)

 

I am proud indeed, and a bit surprised at how seriously she has applied herself. I shouldn't be, for she is a very good, highly motivated student at her elementary school. She has just gone off to bed. Each night, she has me print out a few charts for her, and she traces out the highs and lows, identifies support and resistance levels, and identifies any potential opportunities. On the nights that she finds one, we place the orders in the MT4 Demo account, and then in the morning, she hurries to check what, if anything, happened overnight. Eventually, I may have her place trades in her real account, as she has, on balance, done well with the demo trades. I'm just afraid that if she had real orders placed at night she may not get any real sleep!

 

It will be interesting to see how she responds tomorrow. Today her profit was more than her starting balance was just a few weeks ago, and all of a sudden, I can see that she now feels that this is real money.

 

And I'm happy to hear that you found the divergence posts helpful. The most exciting thing for me as I developed my ability to trade price only, with no reliance whatsoever on indicators, was the realization that I have the ability to trade any market, anywhere, at anytime, and on balance come out ahead. I'm sure you are starting to realize the same about yourself.

 

As for my P/L posts lately which have been infrequent, I have been in and out of town and helping with my family's business.

 

You take care of youand yours, and as Motel 6 says (or used to say) "We'll keep the lights on for you."

 

Best Wishes,

 

Thales

[MidKnight 12]

Hi Folks,

 

We finally had a day with more than three or four candidates offering the type of opportunity for which I look.

 

COG +92 pennies/share, WYNN +119 pennies and AKS -31 pennies for a total of +$1.80/ share traded.

 

My daughter was two for three today. She had a losing EURJPY and a winning long EURJPY that ended up netting just over +30 ticks, and a winning long GBPUSD that netted +100 ticks even. Trading at approx. 20 cents/tick (two microlots), her total profit was $27.16, and as she goes to bed tonight, the microlot account has a closed equity of $122.75

 

Best Wishes,

 

Thales

 

I'd be lying if I said I wasn't envious of her results. I gotta wonder why you are not trading on forex if you method seems to work this well? Outstanding results. I act about 9 years old sometimes, if you ever want to adopt a son, let me know

 

With kind regards,

MK

[Dinerotrader 10]

Thales-

I think that makes like 4 people who are ready to be adopted!

Did you ever read the book Ender's Game. The main character wins a war for planet earth by playing a video game which in reality is controling all the armies in the war. Stay with me here.

 

Here is what we should do. We should all put all of our trading money into an account that she controls with her trades but we won't tell her she is actually trading with millions of dollars so her calm trading style will continue. We can start the first fund managed by a 9 year old.

 

I come up with my best ideas when I am extremely tired.

 

Cheers.

[bathrobe 10]

Good day all around, done early. +5,450

 

I consider this (short) trade a bad trade regardless of the P/L, you can see from the attached chart my entry and what happened a short time later, I failed to follow my trading plan, was preoccupied, and was not at 100% physically (migraine).

 

I think some of the best ways to improve is to look at trades you should not have taken regardless of trade outcome.

 

Chris

[thalestrader 14]

Here is what we should do. We should all put all of our trading money into an account that she controls with her trades but we won't tell her she is actually trading with millions of dollars so her calm trading style will continue. We can start the first fund managed by a 9 year old.

 

My wife and I both got a good laugh from your post imorgan, thank you.

[thalestrader 14]

I gotta wonder why you are not trading on forex if you method seems to work this well?

 

I don't think of what I do as a method so much as an approach. I do trade currency futures from time to time, as the approach works on any market.

 

Thank you for the kind words,

 

Best Wishes,

 

Thales

[bathrobe 10]

Probably the reason I (and maybe some of you) trade when you should take a sick day:

 

I have a problem with what I would call "over-excitement" regarding all markets, trading them, spending tons of time (possibly way too much time) trying to build systems, coding indicators, reading books, both good and bad, and going through the ever-expanding wealth of information on the internet regarding trading (much of which is not worth going any where near) THIS SITE IS THE EXCEPTION

 

Nonetheless is am sure we all have this problem, our obsession drives us to become the best we can be.

 

Chris

[thalestrader 14]

Hi folks,

 

I thought I'd make AKS pay me back for the loss it handed me yesterday, but it had the last laugh and threw me off for -19 pennies. That was and is likely it for me today.

 

My daughter had two trades: breakeven on a short USDCHF and +85 ticks and change on a short EURJPY. As of right now, she is +18.82 for the day, and closed equity is $141.57. She definately has an affinity for the eurjpy.

 

An interesting development today: She shorted the USDCHF on a break of support. That is how I taught her. However, she shorted the EURJPY as it failed to break through resistance. She did ask me if it was ok. I asked her why she would sell it there, and she said that if it didn't go higher there, it would probably go back down to the last support, where she would put a limit order to take profit. Well, its not the way I trade, but who am I to argue with sound reasoning?

 

We're all heading out for lunch, and it is doubtful there will be anymore trading this week at the Thales home.

 

Best Wishes,

 

Thales

[atto 20]

An interesting development today: She shorted the USDCHF on a break of support. That is how I taught her. However, she shorted the EURJPY as it failed to break through resistance. She did ask me if it was ok. I asked her why she would sell it there, and she said that if it didn't go higher there, it would probably go back down to the last support, where she would put a limit order to take profit. Well, its not the way I trade, but who am I to argue with sound reasoning?

Hot damn, you have a trading prodigy on your hands.

 

Question, out of curiosity: why did she scale up size already? Isn't she quite leveraged as is? While it looks like she's had some mighty fine instruction, she's on an amazing run.

 

Congrats man.

[thalestrader 14]

Question, out of curiosity: why did she scale up size already? Isn't she quite leveraged as is?

 

Well, I actually wanted her to trade 1 microlot/$25 in equity, so, according to my original plan, she should be trading 4-5 microlots. She wanted to wait until she got close to $100 to add a second microlot. So right now she is trading two microlots, which makes a position move at $0.20/tick.

 

If this were her life savings grub stake, then I would say yes, she is overlevered even at 1 microlot. Her usual inital stop is about 50 ticks, so at 20 pennies/tick, she is looking at a max risk/trade of about $10. I think she only had one trade where she was stopped in and price immediately turned and ran through her stop for the full loss. Of the losses she has had, price usually moves in her favor, reacts against her position, resumes its favorable move (so she moves her stop to the reaction point) and then turns again and stops her out for a loss much smaller than the initial stop. Her average loss is 20 ticks, which is $4.00 on a 2 microlot position.

 

Also, as this is a very small amount of money, and, since this is a bucket shop account, and she cannot go into deficit, I am not at all concerned.

 

Best Wishes,

 

Thales