my journal 2

This is a discussion on my journal 2 within the Trading Journals forums, part of the Reception category; It's terrible. It won't let me play again on this laptop and browser. I tried on another computer (same IP) ...

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Old Feb 3, 2010, 11:49pm   #161
 
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re: my journal 2

travis started this thread It's terrible. It won't let me play again on this laptop and browser. I tried on another computer (same IP) and it lets me play. I installed safari and it lets me play on this computer. But if I try to play with internet explorer it seems to say that i've played too much: regardless of my deleting all cookies and similar.
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Old Feb 3, 2010, 11:55pm   #162
 
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re: my journal 2

travis started this thread This time I've gone both LONG and SHORT and ignored a couple of stoplosses, but got lucky.

snap1.jpg

Last game for today. In the meanwhile, losing hundreds with real trading.
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Old Feb 4, 2010, 8:39am   #163
 
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re: my journal 2

travis started this thread All by going SHORT. New lesson learned: when there's a hammer (meaning that during a week it fell down a lot and then went back up to where the week started) at the top of a rise move, the next candle almost certainly is down. The same applies to this situation: top of a rise, big red candle followed by an equally big white candle: the next candle is red again, almost always.

snap3.jpg

I am glad I achieved this by losing a few times, which means I am in control of losses.
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Old Feb 4, 2010, 6:08pm   #164
 
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re: my journal 2

travis started this thread Yep, another doubling up just on SHORT trades.

snap1.jpg

Pretty soon I will require tripling up of myself, both for SHORT and for LONG trades.

In the meanwhile I've blown out my real money account due to not using a stoploss. I still have this problem even in my simulations. I still cannot accept/conceive losses, whether simulated or real. But I feel that I am getting closer to accepting them. The closer I get to being confident of my profitability, the closer I get to accepting my losses.
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Old Feb 4, 2010, 8:35pm   #165
 
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re: my journal 2

travis started this thread This was all done by going short, and I'm playing all stocks, even the most bullish ones.

Rules:
1) going short below s/r or at extremely overstretched levels
2) stop trading stock as soon as you get a loss
3) exit as soon as your loss is over 5%

snap2.jpg

I resolved to getting to 40k (from 10k), because this rules out any luck and it forces me to use the stoploss. Otherwise I can just hope to be lucky and not finish the games where I don't get lucky and blow out my account.

The account must be conceived as one. I can't just test out several accounts and only keep the ones that succeed because in real trading this cannot happen. I have to stick to one account no matter how poorly it performs.
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Old Feb 4, 2010, 8:41pm   #166
 
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re: my journal 2

travis started this thread Yeah, now I am tired, but from now on, whether LONG or SHORT, I should just focus on getting the 10k account to 50k, or else it doesn't count. In the past few days I've been getting great results and posting them, but did not actually take pictures of the times I blew out my account. I still think I figured it out, but I can't just blow out my (simulated) account when I am in a bad mood, because that's what happens in my real trading. I really have to make sure I get used to using a stoploss, regardless of my mood. And also that I pick my trades carefully.
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Old Feb 4, 2010, 10:03pm   #167
 
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re: my journal 2

travis started this thread Damn! The game keeps on taking me out. This doesn't necessarily mean that I suck. I am playing poorly because I am tired, after dozens of games.

However, even if I used the stoploss, I'd be losing all capital, only more slowly.

Essentially I've been playing this game just like I invested my real money. I usually win, and have a high percentage of wins, but I can never get my account to 50k because sooner or later I incur one of those huge losses. So: if I play to 20k, i get it most of the time. But if I play to 50k I rarely get it, because sooner or later I get one of those losses that wipe me out.

So this is exactly what I need to do in order to learn the stoploss: play to 50k over and over again, until I finally understand how to play for the long term rather than for the short term. Because whereas a quick win will impress people and myself, what I need to do is make sure my capital never goes to zero, regardless of how slowly it will increase.
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Old Feb 4, 2010, 11:29pm   #168
 
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re: my journal 2

travis started this thread Short again. I will see it like this: each time I keep my losses below 10% per stock I should celebrate. Regardless of whether I am making a profit or not. The important thing is not to gamble, rather than to win. The important thing is to do the most convenient thing, and not to get a huge return that will impress people. All these years I kept on aiming for huge returns, for being right... and never worried about my capital. Is my capital safe? Is my capital growing? It didn't matter. What mattered to me was being right.

This time I didn't make a huge return, nor doubled within 10 trades, but my capital is still there. Tomorrow I will continue this game. I don't have to restart every hour from 10k. I need to see this capital just like my real capital, in order to learn to use the stoploss both in simulation and in real trading. Almost all problems are symmetrical, except time and trials: I get faster games and more trials on my simulator, and this enabled me to become profitable. Nonetheless I still retain the problem of not using the stoploss. And that is good, because i can work on learning to use the stoploss on the simulator and it should work for real trading as well.

snap2.jpg
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Old Feb 5, 2010, 2:07pm   #169
 
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re: my journal 2

Quote:
Originally Posted by travis View Post
So I looked for something similar, and it might turn out to be better:

http://sites.google.com/site/testmytrades/
Nice Journal.

Did you get to try TurTrades If yes did you find it useful ?
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Old Feb 5, 2010, 3:31pm   #170
 
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re: my journal 2

travis started this thread Thanks, I like it, too. I find it much better than those of people just listing their trades. I can't read those at all. Then again, those guys might be profitable whereas I am not.

Yes, I tried that software, and it's the second best thing after the Chart Game. But it's not nearly as good for the quality of its charts (too small and not customizable). However I am grateful to the author for letting us have it.
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