| RESULTS FOR DAY | |
|---|---|
| NQ Contracts: | 8 |
| Net $P/L: | -101 |
| Wins: | 0 |
| Losses: | 2 |
| Win%: | 0 |
| Avg$Win: | 0 |
| Avg$Loss: | -50 |
1 hour ago
Tuesday, July 3, 2012
Tues. 7/03
12:35pm CDT - Short day for equities but did get a few signals. BE on one, a 1 pt. loss on another, and a 4+ point winner on the third which I missed because I was in the kitchen just before the power went out for about 20 min. Happy Birthday America!
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Ah equities. You're back on my turf. }:-) Are you sure you want to buy me a new car? ;-) I didn't gross a single losing day in June, although a couple of those days were brokerific (i.e., he got more in fees.)
ReplyDeleteFor your strategies, I'd advise only the first hour and the last hour, unless there's news or a fed announcement. You'll get chopped up by the spread without adequate momentum. Also, do not forget to put an economic calendar in front of your desk every morning to know when the news is working against you or for you at the appropriate time of day.
-TC
Anonymous -
ReplyDeleteI am your cousin, with the same name. Do you have a blog I could look at? I like seeing anyone who is winning.
TC - I've looked at eliminating certain hours of the day or only trading open etc. My current strategies don't do this however. I always know what economic reports are coming and watch the reaction and sometimes trade during or just after.
ReplyDeleteAnon2 - who are you and what are you talking about? This is my blog you are looking at. Send me an email if you like... mbagearhead@yahoo.com
Hi MBA -
ReplyDeleteSorry for confusing you. My note was for TC - I'd like to read his blog, if he has one. I hope it is as enjoyable and insightful as yours.
I tried blogging for a while back in 2010 after losing my job as a prop trader, but found it time consuming and that it affected my psychology, and sometimes my psychological dilemmas would spill over into the trading world. I didn't want to be a position where I was posting losses, so I made some suboptimal decisions. Also, back then, I attempted to hack it as a retail trader. I just couldn't do it; I needed a prop cost structure and low clearing rates to make anything work at all. (This sets me apart from MBA.)
ReplyDeleteMaybe I'll do it again someday.
While I'm more consistent than MBA Gearhead, and while my win streaks go for months on end, I do occasionally stumble into pockets of time where edges stop working, where I get laid off, or where I just have no income or job prospects whatsoever; I end up living on whatever the last hot-run of prop trading brought me. So in this regard, I am very much like MBA, constantly tweaking and tuning systems. His struggle is my struggle. :-)
-TC