Wednesday, August 29, 2012

Out of office

I know that this update may be late.
I will be out of the office and away from my trading desk for the best part of a month. I should return the last week of September.

I had prior arrangements and never thought that my trading career would have been up and running as soon it did. My trading career really has happened ahead of schedule!
I will try and keep blogging during my absence.
Stay well and lets hope that the markets show more life upon my return!
In my absence, if I may ask that you refer this blog to all your other internet and social media friends, so that they may follow me!

Friday, August 24, 2012

Flat for the day!

Flat for the day!
Friday (08/24/2012):
I was: Flat

Emotions: Arrived early and never traded a stock the entire day! I looked at everything out there, but never entered a trade!

Note(s) to self: I showed great restraint!

Traded: ---

Thursday, August 23, 2012

Churn that account!


Thursday (08/23/2012):

I was: Unchanged, only paid away comm!

Emotions: Arrived early and missed a big move in $HPQ pre-market.
I was encouraged to enter a short, just never followed through! If I had entered the trade would have made moist my profit pre-market.
Entered a stupid trade late in the day as I tried to chase the stock lower!

Note(s) to self:

1. Stop chasing stocks.
2. Stop listening to all the stock calls that I hear, on the stocks I’m trading, if there is really no technical setup!

Kept trading $HPQ the rest of the day, and only ran up ticket charges and fees!

Traded: $HPQ

Wednesday, August 22, 2012

Clawing back initial losses!

Claw it back!

Wednesday (08/22/2012):
I made: Negative
Emotions: Lost money pre-market. Made it back before the open. Took one or two bad trades, without watching the technicals. Never lost as much as yesterday.
With the FOMC Meeting today, I was quiet before the 14h00 meet. Post the FOMC Meeting, trading was very choppy. I am not finding the right stocks to trade. Need to reconsider my stock selection and approach.

Spent more time in my trading chair/ seat today.

If its any consolation, $FB traded in a tight and choppy range today, according to me?
$DELL also looked like I could have been chopped!

Traded: $FB, $DELL

Tuesday, August 21, 2012

$FB, morning sickness



Tuesday (08/21/2012):
Emotions: Had a very bad day trading. Trading $FB today made me sick. I missed all the trends. From the start, pre-market, I was trading $BBY short. Was flat prior to its rip. $FB killed me today, I think it took back what I made out of it the last few days. Tried a few times to enter $FB, but was stopped out every time, for a loss.
Not a good day of trading, will have to come back tomorrow and take it back!
I hope that this "morning-sickness" soon!
I also need to spend more time in my trading chair/ seat!

Traded: $FB, $BBY

Monday, August 20, 2012

New week, lets trade...

Back in the office today, after a great weekend with the family.

Only had 2 beers the entire weekend. 1 on Saturday and 1 on Sunday.

Played a bit of golf on Sunday. Took a Warrior Driver ( ) for a test drive on the golf course. Really liked the way I hit it. I now need to compare it to the big brands out there.
Warrior Tomahawk Golf Driver

I think this is the driver I tried the weekend!

Commuting into the office on a Monday morning, usually leaves me with a headache the entire day.


Monday (08/20/2012):
I was: positive
Emotions: Was short most the morning in $FB. The price never pushed down as far as I/ we thought! $FB turned around and headed up most the day. I Missed playing $FB long. Need to remember that stocks can and do go up and down.
Added position size, and tried to always hold a position to the short side.
I looked for other shares to trade, but lacked the conviction to enter positions. I somehow didn't see movements or potential movements. My risk/ reward just wasn’t there!
Traded: $FB
See you all tomorrow.

Friday, August 17, 2012

Good Friday

Friday (08/17/2012):
I made: $65
Emotions: I had just arrived at my trading station when my “mentor” called out a short on $FB, prior to the market open. I hesitated and missed the first opportunity. I was later reprimanded, but it was for my own good. Was nervous prior to the market open, as I was already short $FB shares.
Was trading $FB, in and out with 100 shares. At one time I did add to my position and was short 200 $FB shares. There was a call-out to short $MRVL, and I got short for a quick scalp!
Sometimes you just have to get stuck in, and go with it. I suppose that is the best way to learn.
I thought I was done by 10:20 am, but kept trading the rest of the day. Gave back some gains later in the day, but made them up just before the close. Overall, I had a great day, by my standards.
I also found out that its not easy to not look at my P&L the whole day!

Traded: $FB, $MRVL

Thursday, August 16, 2012

Live Trading

OK, I have started trading and now need to keep a journal.
I am trading the minimum number of shares, 100 shares at a time.
I am not adding to my position yet.

Monday (08/13/2012):
I made: ($12).
Emotions: I was down. Felt OK, now that I had real skin in the game.
Traded: stocks under $10, with big volume.
Tuesday (08/14/2012):
I made: $7.
Emotions: Felt good, that’s because I was positive for the day.
Traded: stocks under $10, with big volume.

Wednesday (08/15/2012):
I made: ($9).
Emotions: Never felt good at the end of the day. Later found out that there was NO volume in the market and that the range was extremely tight, tightest its been in months.
Traded: (Big names, $F) stocks under $10, with big volume.
Thursday (08/16/2012):
I made: $20.
Emotions: Was very nervous as I entered the trade. Biggest trade I have made since going live. Was encouraged/ advised to add to my position size, but never thought it prudent. Was happy to bank my profits and never traded again the day. I was done by 10:20am. There was however an opportunity to enter $FB again, but lacked the conviction. I had watched $CSCO for a break out, but never reacted in time.
Traded: $FB.
Friday to follow!

Monday, August 13, 2012

Rather late than never

So whats it been...One week since I last wrote?

Lets recap:

Train was late coming in on last Monday morning.

I have spent the last 2 weeks in NY, at my chosen proprietary trading firm.
I've been demo trading, and killing it! The first day or two I had my Buying Power loaded at a few million, and was really overpowering this market. I then decided to reduce my buying power to a more realistic $10 000.
Now I have been trading as if I had real skin in the game. Still not feeling the emotions yet, but that will certainly be there when I go live!
Traders around me in the office, seem to be making money, and offer inspiration. If only I could get to their level of trading ASAP!
I feel I am getting into the trading thing pretty quickly, or at least ahead of my targeted schedule.

I have been looking for a more permanent residence as well. I have had a great stay out in Brooklyn. The commute into the office and back again is very manageable and only takes about 30 min.
The commute allows me time to listen to podcasts. The trade related podcasts that I have been able to find are those of Michael Covel and Rob Booker.
I have also got my hands on a book by Ari Kiev, but haven't been in the reading mood. The Olympics have kept me from reading, which I know is a bad excuse, as the Olympics won't make me money in the market. The Olympics will only show me how great athletes perform! Maybe I learn something from them?

Haven’t been enjoying home cooked meals, so I am not taking in all the necessary nutrients via vegetables and meat. But then again vegetables are supposed to be eaten by animals, like rabbits?

I had a great weekend, and I should go live on Monday!!