isa's short term trading journal

This is a discussion on isa's short term trading journal within the Trading Journals forums, part of the Reception category; Not a good week for me this week, down 1.04%. I made a number of mistakes which I need to ...

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Old Jan 29, 2011, 7:09pm   #151
 
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Account Update

isatrader started this thread Not a good week for me this week, down 1.04%. I made a number of mistakes which I need to learn from.

1. I let advice from someone else affect a trading decision. I've got to learn to have conviction in my own analysis once I've placed a trade if I've set it up with correct money management, stop loss and exit target.

2. I broke my money management rules and let a trade go past my stop loss level.

3. I entered a trade on a weekly signal far too early. The signal was on at the beginning of the day Friday, but it wasn't by the end of the day. So a new rule for me is that when I'm using a weekly signal that I need to wait until the last 30 minutes of the trading day to make sure that the signal is valid.

Performance

My SB Account
Weekly: -1.04%
YTD: -2.25%

S&P 500
Weekly: -0.55%
YTD: +1.49%

FTSE 100
Weekly: -0.25%
YTD: -0.31%

January is almost over and it hasn't been a good start to the year for me as I'm back at break even for the account, but I keep learning more every trade and will try my best not to repeat the mistakes I've identified.

Have a good weekend.
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Old Jan 29, 2011, 9:33pm   #152
 
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Re: Account Update

Quote:
Originally Posted by isatrader View Post

1. I let advice from someone else affect a trading decision. I've got to learn to have conviction in my own analysis once I've placed a trade if I've set it up with correct money management, stop loss and exit target.
That was one of my problems, too. That is partially why I chosed GBPJPY, becouse there is not much comments on this pair. If I would choose EURUSD I would spend lots of time reading other people's analysis, but would never make my own effort...

Cheer up, man, there are posibilities almost every day almost every where, you gona make it! Anyone with such analytical aproach will!!!
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Old Jan 29, 2011, 10:47pm   #153
 
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re: isa's short term trading journal

isatrader started this thread Thanks pingvin. I appreciate the support
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Old Jan 30, 2011, 9:28pm   #154
Joined Sep 2009
Re: Account Update

Quote:
Originally Posted by isatrader View Post
Not a good week for me this week, down 1.04%. I made a number of mistakes which I need to learn from.

1. I let advice from someone else affect a trading decision. I've got to learn to have conviction in my own analysis once I've placed a trade if I've set it up with correct money management, stop loss and exit target.

2. I broke my money management rules and let a trade go past my stop loss level.

3. I entered a trade on a weekly signal far too early. The signal was on at the beginning of the day Friday, but it wasn't by the end of the day. So a new rule for me is that when I'm using a weekly signal that I need to wait until the last 30 minutes of the trading day to make sure that the signal is valid.

Performance

My SB Account
Weekly: -1.04%
YTD: -2.25%

S&P 500
Weekly: -0.55%
YTD: +1.49%

FTSE 100
Weekly: -0.25%
YTD: -0.31%

January is almost over and it hasn't been a good start to the year for me as I'm back at break even for the account, but I keep learning more every trade and will try my best not to repeat the mistakes I've identified.

Have a good weekend.
you're doing fairly well really, considering the way the FTSE has been trading so far this year. My SB account is down nearly 9% !
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Old Jan 30, 2011, 10:36pm   #155
 
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Re: Account Update

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Quote:
Originally Posted by leonarda View Post
you're doing fairly well really, considering the way the FTSE has been trading so far this year. My SB account is down nearly 9% !
To be fair, I'm fairly strict with my risk management. It seems though like a lot of people don't seem to be as strict with their spread betting accounts as other accounts for some reason. Not sure why this is though?
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Old Jan 31, 2011, 9:25am   #156
 
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Fresnillo (FRES) – Entry

isatrader started this thread Trade

Fresnillo Rolling Spread
Direction: Long

Entry Price: 1284.29
Spread: 4.59

Stop: 1243
Target: 1400

Account Risk: 0.5%
Potential Account Profit: 1.41%
Risk Ratio: 2.8
Attached Thumbnails
fres_30min_31-1-11.png   fres_daily_31-1-11.png  
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Old Jan 31, 2011, 3:34pm   #157
 
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Re: Fresnillo (FRES) – Entry

isatrader started this thread
Quote:
Originally Posted by isatrader View Post
Trade

Fresnillo Rolling Spread
Direction: Long

Entry Price: 1284.29
Spread: 4.59

Stop: 1243
Target: 1400

Account Risk: 0.5%
Potential Account Profit: 1.41%
Risk Ratio: 2.8
Stop moved to 1264
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Old Jan 31, 2011, 10:21pm   #158
 
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Monthly Account Update

isatrader started this thread Attached is the charts up to the end of January and my January trades spreadsheet. It wasn't a good month for me, but I recovered all of Fridays loses today with the addition of the Fresnillo trade.

I'm recovering a bit relative to the FTSE but the S&P is still outperforming my account. So the aim next month is to outperform the S&P 500 and to have a profitable month.

I'm also doing one trade a week in a trading game thread I've started (see http://www.trade2win.com/boards/swin...ml#post1404498) so I'm going to try and trade my picks each week in my SB account and maybe some of the other members picks if they look good and I have the risk available.

Anyway January is over, so the slate is clean and I'm going to work hard during February to try to get back to winning ways again.

Performance

My SB Account
YTD: -1.27%

S&P 500
YTD: +2.26%

FTSE 100
YTD: -0.63%
Attached Thumbnails
monthly_performance_31-1-11.png   equity-curve_31-1-11.png   relative_vs_sp500_31-1-11.png  

relative_vs_ftse100_31-1-11.png   trades_spreadsheet_31-1-11.png  
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Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill – Reminiscences of a Stock Operator.

Last edited by isatrader; Jan 31, 2011 at 11:24pm.
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Old Feb 1, 2011, 9:38am   #159
 
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Fresnillo (FRES) – Closed Position

isatrader started this thread
Quote:
Originally Posted by isatrader View Post
Trade

Fresnillo Rolling Spread
Direction: Long

Entry Price: 1284.29
Spread: 4.59

Stop: 1243
Target: 1400

Account Risk: 0.5%
Potential Account Profit: 1.41%
Risk Ratio: 2.8
Closing Trade

Entry Price: 1284.29
Exit Price: 1324.67

Percentage Gain: 3.14%

Account Percentage Gain: 0.50%

Daily Keltner Channel Captured: 6%
Trade Grade: C-
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Old Feb 1, 2011, 9:55am   #160
 
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re: isa's short term trading journal

Potential BIG H&S forming on DAX daily chart (attached).

Am planning to go short at 7145, stop at 7190. £5 / pt, for a potentially great ride down to the 6800-6900 area.
Attached Thumbnails
dax-head-shoulders.jpg  
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Old Feb 1, 2011, 9:57am   #161
 
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re: isa's short term trading journal

Oh, great trade on Fres, isatrader!
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Old Feb 1, 2011, 10:05am   #162
 
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re: isa's short term trading journal

Wow, that happened fast!

Am in short on the DAX from 7140, £5/pt, stop at 7190. Target around 6900 initially.

Lets see if it pans out.

Last edited by SlipperyC; Feb 1, 2011 at 10:06am. Reason: Added target.
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Old Feb 1, 2011, 10:08am   #163
 
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re: isa's short term trading journal

isatrader started this thread
Quote:
Originally Posted by SlipperyC View Post
Oh, great trade on Fres, isatrader!
Thanks, good luck with the DAX short.
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Old Feb 1, 2011, 10:11am   #164
 
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re: isa's short term trading journal

Might need it, it looks lively this morning - should have trusted my instincts and kept that weekly trade open!!!
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Old Feb 1, 2011, 3:17pm   #165
 
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re: isa's short term trading journal

Getting a touch close to my stop on the DAX! If it breaks up from here it should be huge!
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