Wednesday Results

Nett Profit : $95++

GS : I played it right and too bad the market were Green at the first sight. Exit too early and loss more than $300 opportunity.

AMZN : Played PAP too and took small profit. Entered again and averaging down took, took another less profit.

DELL : Scratch as the Candlestick Pattern signal faked out. But it's sure a potential candidate for PAP and small gain.

Tuesday Result

Nett Profit : $77++

GS Story:
My Hi-Lo PAP formed perfectly and I entered approx 10 seconds before the candle formed. And in 20 seconds I cut lost $77. This is madness.
Story cut, I turned and managed getting 45++ profit.
Plus 2 times scalping added about $10.

AMZN story:
Play PUT first and got $10++ and the disaster came. I play contrarian and being hit to $230++ potential loss.
Waiting and had I chance to get out managed to profit $14

Moral of the story:
Play the one you understand, and careful with new idea. Best to paper trading first.
When you are losing because of cantrarian play, it's better to use Capital Preservation Strategy. If I stay with the market hoping take $200++ form market I will end up loss $-200 today.

New Idea:
I want to look at ATR as my extended strategy.

Happy trade

Watch Out For Market Gyrations

Nett Profit : $45++

The Trader's Almanac sure give a very valuable information. Indeed Market Gyration occured even not as drastic as I predicted.

I entered GS against the market and not too much swing ($40++) per contract and exit based on Time Frame. I am not comfortable waiting too long with open position, even it's in profit zone.

Oh, and the issue of the day, my IB or internet f&^%#d up. I am lucky to get out in profit with the condition. God, how I feel very angry. This is a conspiration!!!

I played AMZN also and was punished to Market close.

July I've already booked profit $54++ incl. commision excl. other fees

How Important Money and Trade Management?

June in my opinion is not a good month for day trading. You may see interesting article in this

But June also the month I began to apply Trade and Money Management. I've already told about this in my previous posts. And the results surpassed other months performance, even though it's not fascinating but it's good.

Setting Up the trade and money management is very important to survive this business in the long run. It's also help you psycholgically especially when you made this for a living.

My money management is about to pay myself daily. I take some money from my trade aside and the feeling of being paid daily is good. My mental state refreshed every time I get this instant gratification. I learnt that from an audio-book called self-discipline. As an full-time employee, maybe my subconscious mind told me this is also a job cause you're getting paid daily.
And I also experienced the failure when not doing this.

Create and apply your own trade and money management what suit you best, IMO is also giving you edges in this trading business.

Still Focus

Nett Profit : $157++

I made a comeback and ended this week with $70++
Not a very good week but I still consistent with my goal, become a consistent profitable trader.

Prophet Chart on TOS keep annoying me and I decided to change to TOS Chart as it's not lagging.

Yesterday I will recap my trade on July with more detail. How Lazy I am..urgh :(

Have a good trade everyone

Bad Day

Nett Loss = -$146++

I made lot bad decision:
1. Entered PAP faked out and reverse without seeing underlying price
2. Long Contrarian without enough signal (AAPL)
3. Terrible Cut loss with -$460++
4. Profit taking too early as I can manage the losses back

This is the worst loss for last 2 weeks (last loss =$139++) but still very manageable.

Things I regret was I don't exploit enough from Bearish Harami AMZN I loss opportunity about $350.

And also bad cut loss from GS.

The loss should be better or even became profit.

I will start managing my trade, better start my journal from today.

Not a Good Day

Nett Profit : $21++
Open Position : -$90++

Not a good day. I heard other people opionion and that's dangerous.

My open position was very vulnerable as first day of July is Bullish Tradition and it's getting real.

My mistakes:
1. I am not a swing trader, so overnight position made me nervous.
2. The open position in negative condition made my mind isn't clear, and my PAP failed
3. Hear other people opinion and made me swing is worse
4. I admitted I was little greedy as my winning trade getting thinner and thinner
5. I was also fear had a losing trade more than one week gain.

I should refreshed my mind and my mental state.