DeeBee Trading Journal - Page 5 - TradingApples.com : Trading Courses, Coaches, and Mentors

DeeBee · October 29th, 2009, 09:35 AM

A crappy day for me! Not feeling the market flow. Not even quick to get out of losing trades. Time implement the "kill switch". This one was suggested by Brendan, its important to have a defined daily loss limit whereby when it get hit you stop trading for the day. Shutdown LS platform and do something else. Hey, its still early so I'm going back to sleep.

Hope you guys are doing well!

Paper Trades Summary
Shares Traded: 1,000 x .00395 = 3.95 + 3.95 (ecn fees) = 7.90
Marked P/L: -63.14
Net P/L: -71.04

see attached logs for day 14

Dr Pip · October 29th, 2009, 11:43 AM

Quote:

Originally Posted by DeeBee

Hi Doc,

I would fund you asap, if I could just give me 40% of profit he-he-he thanks for video eds info this will be a good reference later on. Still trying to come up with the 25K will work more this weekend

Hi Brendan,
Great point 2K-3K shares a day might be too much (expensive) and counter productive for a beginner. I'll think about this as I finalize my trading plan. I like the "kill switch" its very important to have one in place. BTW, are you using a third party charting software?

Thank you.

DeeBee,

I'll send you account number right away! Haha you might be disappointed in my results though. When I was trying to trade more similar to your method I too had a "Kill Switch" for the day when I hit 4% or something along those lines which now seems very high to me for one day's loss! I'm sure Brendan and Shoot can give you more insight on this and also on a daily profit target? I know it can be easy to want to keep a winning streak going and give back the day's profit. I didn't know if you had though about this yet so I thought I'd throw the idea out there.

- Dr Pip

DeeBee · October 29th, 2009, 05:28 PM

Hey Doc, I'm thinkin 60 to 100 "daily profit target", we'll see. I was a bit busy lately and have not touch my trading plan. Its basically just a rough sketch at the moment but I appreciate and taking notes on each suggestions from TA members. When its ready I'd like to send Shoot and Brendan a copy for their additional comments. One way of fine tuning the plan

Dr Pip · October 29th, 2009, 06:11 PM

Quote:

Originally Posted by DeeBee

Hey Doc, I'm thinkin 60 to 100 "daily profit target", we'll see. I was a bit busy lately and have not touch my trading plan. Its basically just a rough sketch at the moment but I appreciate and taking notes on each suggestions from TA members. When its ready I'd like to send Shoot and Brendan a copy for their additional comments. One way of fine tuning the plan

DeeBee,

No problem, doing things right takes time. If I can figure out a way to post the document I use to keep track of my trading I will. It's an excel file and maybe something you want to consider. I'm sure I'll be posting it soon, so you may want to have a look at it.

-Dr Pip

DeeBee · October 30th, 2009, 08:15 PM

I was about to shutdown my trading platform cus' I'm getting near the maximum range of my kill switch then suddenly the market slide like an avalanche.

I was able to catch some of it see attached chart for details.

Here are the trades:

1. Shorted AAPL@193.60 covered 5 minutes later @193.11 for +49 paper gains
2. Played the quick reverse (green candle) but not agile enough to get out loss -26 points
3. Shorted AAPL@192.84 and covered some 3 minutes later for +59 paper gains

The short gains helped lessen my paper losses from -101 to just -21 points. I've noticing that I'm having difficulty waiting for my trading edge since yesterday and can't control myself jumping into mediocre type of trades resulting to string of losses. I badly need to overcome this weakness.

For the meantime let's enjoy the weekend and HAPPY HALLOWEEN!!!

Paper Trades Summary
Shares Traded: 2,400 x .00395 = 9.5 + 9.0 (ecn fees) = 18.50
Marked P/L: -21.00
Net P/L: -39.50

see attached logs for day 15

DeeBee · November 2nd, 2009, 09:29 AM

Just a quick note, no paper trades today. I need to leave early.

Trade well my trader friends

DeeBee · November 3rd, 2009, 10:14 AM

Nice paper trading today I was able to grab my minimum goal in less than an hour. This is part of my trading plan I'd trade in the early morning for one or two hours. Then I'm free to work on other stuff. I'm getting very close to my trading fund objective which is good news the bad news is I have major concern on the tax part. We'll see. I'm consulting with some of you just asking a thing or two about their own experience. I'm also searching for an accountant who can help me. There are some I've found online but the fee is a killer

I'm also thinking to just trade Forex instead as it does not require the 25K capital

and its taxed 60/40 not very sure about this tho. So, I guess I need to search/learn more about these and in case you guys have some insights please feel free to PM me.

Thank you and enjoy trading!

Paper Trades Summary
Shares Traded: 1,400 x .00395 = 5.5 + 4.5 (ecn fees) = 10.00
Marked P/L: +123
Net P/L: +113

see attached logs for day 17

Jampone · November 3rd, 2009, 01:07 PM

Quote:

Originally Posted by DeeBee

Nice paper trading today I was able to grab my minimum goal in less than an hour. This is part of my trading plan I'd trade in the early morning for one or two hours. Then I'm free to work on other stuff. I'm getting very close to my trading fund objective which is good news the bad news is I have major concern on the tax part. We'll see. I'm consulting with some of you just asking a thing or two about their own experience. I'm also searching for an accountant who can help me. There are some I've found online but the fee is a killer

I'm also thinking to just trade Forex instead as it does not require the 25K capital

and its taxed 60/40 not very sure about this tho. So, I guess I need to search/learn more about these and in case you guys have some insights please feel free to PM me.

Thank you and enjoy trading!

Paper Trades Summary
Shares Traded: 1,400 x .00395 = 5.5 + 4.5 (ecn fees) = 10.00
Marked P/L: +123
Net P/L: +113

see attached logs for day 17

Hi DeeBee!

IMO you are doing a nice work. I think all traders should start like you !

DeeBee · November 3rd, 2009, 02:54 PM

Many thanks Jampone! All of us here in TA have a better chance of succeeding in this business because we are learning from each other. We just need to keep on sharing our experiences good or bad. It will help in our journey to trading success.

Have you requested the LS demo?

Dr Pip · November 3rd, 2009, 05:00 PM

Quote:

Originally Posted by DeeBee

Nice paper trading today I was able to grab my minimum goal in less than an hour. This is part of my trading plan I'd trade in the early morning for one or two hours. Then I'm free to work on other stuff. I'm getting very close to my trading fund objective which is good news the bad news is I have major concern on the tax part. We'll see. I'm consulting with some of you just asking a thing or two about their own experience. I'm also searching for an accountant who can help me. There are some I've found online but the fee is a killer

I'm also thinking to just trade Forex instead as it does not require the 25K capital

and its taxed 60/40 not very sure about this tho. So, I guess I need to search/learn more about these and in case you guys have some insights please feel free to PM me.

Thank you and enjoy trading!

Paper Trades Summary
Shares Traded: 1,400 x .00395 = 5.5 + 4.5 (ecn fees) = 10.00
Marked P/L: +123
Net P/L: +113

see attached logs for day 17

DeeBee,

Looks like you had a good day! One thing I noticed is you are taking less trades than when you first started posting your results... Maybe it pays to be picky?

And as the audio book by A. Elder stated, "Find a system that trades less frequently to reduce the costs you incur by trading." (something along those lines)

-Dr Pip