Jonbig04's Log

[brownsfan019]

I have a few observations... take it for what it's worth.

1) Holy cow you are trading... Wow. Your broker must love you.

2) Until you realize that you cannot and will not catch every single move or every single day, you'll always be chasing this dream.

#1 - if I am reading the chart correctly, that is a ton of trading going on for a new person. That's not necessarily a bad thing, but I'm sure you realize that commission costs will eat away at profits at that pace.

#2 - It took me awhile to come to peace w/ the FACT that there is no possible way that you can be in every single move of every single day. I too wanted to be in when the big move came. Problem was that you have to take trades left and right to be there.

My suggestion at this point would be to start crafting more precise entries, unless being a scalper is what you are setting out to do.

[jonbig04]

Originally Posted by brownsfan019 I have a few observations... take it for what it's worth. 1) Holy cow you are trading... Wow. Your broker must love you. 2) Until you realize that you cannot and will not catch every single move or every single day, you'll always be chasing this dream. #1 - if I am reading the chart correctly, that is a ton of trading going on for a new person. That's not necessarily a bad thing, but I'm sure you realize that commission costs will eat away at profits at that pace. #2 - It took me awhile to come to peace w/ the FACT that there is no possible way that you can be in every single move of every single day. I too wanted to be in when the big move came. Problem was that you have to take trades left and right to be there. My suggestion at this point would be to start crafting more precise entries, unless being a scalper is what you are setting out to do.

Thankfully no one is getting rich off me yet (this is all fake money), but I wont be taking anywhere near that many trades from now on.

[james_gsx]

What?

Another 20 year old from Denver?

Do I have a clone? What part of Denver and why haven't I met you?

Just some quick advice I picked up from scanning through this thread. Maybe instead of trying to trade, and inadvertently over trading, just sit and watch the market all day without doing anything. Just watch the order flows, the way the market moves. You will pick up a lot more information, and from there you will be able to find specific trends that suit your personality. After a sizable amount of observation, you will be able to piece together a basic trading plan that works for you. It will be much easier to trade, because you will know exactly what you're looking for. When you simply jump in making 20 trades a day, you close a lot of doors and miss a lot of opportunities that come in the form of information. Just my .02 cents.

[jonbig04]

Originally Posted by james_gsx What? Another 20 year old from Denver? Do I have a clone? What part of Denver and why haven't I met you? Just some quick advice I picked up from scanning through this thread. Maybe instead of trying to trade, and inadvertently over trading, just sit and watch the market all day without doing anything. Just watch the order flows, the way the market moves. You will pick up a lot more information, and from there you will be able to find specific trends that suit your personality. After a sizable amount of observation, you will be able to piece together a basic trading plan that works for you. It will be much easier to trade, because you will know exactly what you're looking for. When you simply jump in making 20 trades a day, you close a lot of doors and miss a lot of opportunities that come in the form of information. Just my .02 cents.

My clone? I'm not sure. Great now I'm afraid I'm going to find out we're clones and part of some clandestine government project from the 80's...would be alright if i found out we were born with all these special abilities and hand to hand combat skills that we've yet to discover.

I just moved to Denver 10 days ago, I'm not sure if you're familiar with downtown at all (its the only part I am even remotely familiar with), but I live on 16th and Glenarm...it seems pretty like a pretty chill place so far.

Thanks for the advice. I was going to do just that when suddenly...I started trading haha. I guess because my last 3 days were decent up days I got over confident. Think I just lucked out those days.

[james_gsx]

Yes, I'm familiar with that area. I often go to Avs games at the Pepsi Center which is relatively close, or I take Speer down to Cherry Creek. Sometimes I actually go downtown, but I try to avoid it with all the one way streets lol I'm up north around 120th.

Good luck, if you need help with anything in Denver send me a PM.

[brownsfan019]

One piece of advice in Denver - AVOID the Denver Broncos. A terrible NFL franchise.



Oh yeah, gsx likes this game called hockey too but the rest of the US is not quite sure what he's talking about.

[jonbig04]

Today was interesting. Yesterday's problems were still present, but they weren't as acute. I'm getting a handle on some of them...TAKE YOUR LOSSES is still the hardest one, but while I did get stopped out a few times, I took my losses a lot of the time. Not perfect yet, but its improving.

I'm doing some testing of my stop strategy right now. Seeing when they kick in and out etc. I'm also considering changing time tables a little bit.
Today wasn't very profitable, at all, but its an improvement over yesterday's fiasco.

results= +1.75 points

5 days trading +15 points

[brownsfan019]

Originally Posted by jonbig04 results= +1.75 points 5 days trading +15 points

Is that gross or net?

[jonbig04]

[quote=brownsfan019;43876]Is that gross or net?[/QUOTE


Just the up days minus the down days. I could be off by a point or two, but I think its right. It means diddly anyways. The way I feel right now I will probably lose 20 points tomorrow.

[brownsfan019]

Originally Posted by brownsfan019 Is that gross or net?[/QUOTE Just the up days minus the down days. I could be off by a point or two, but I think its right. It means diddly anyways. The way I feel right now I will probably lose 20 points tomorrow.

Actually you are forgetting an important component to trading...

GROSS POINTS
vs.
NET POINTS

With the amount of trades you are taking, you NEED to be running both numbers.

GROSS = Total points
NET = Total points - Total Commissions

In the end, NET is what counts as that is what hits your account.

I suggest you track both so you can see the impact of the amount of trades to your bottom line.