Day Trading Stocks : Progress Thread

[Jonleehacker]

Rather than just posting pure facts of you trades, I would love to hear some of you decision making behind what you did each day.

Why, specifically, didn't you take any trade? At what time or place in the chart, did you face the decision to trade or not and why?

Stuff like that would be more interesting than just P&L updates.

 

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[bmw335isedan]

Rather than just posting pure facts of you trades, I would love to hear some of you decision making behind what you did each day.

Why, specifically, didn't you take any trade? At what time or place in the chart, did you face the decision to trade or not and why?

Stuff like that would be more interesting than just P&L updates.

Actually, you know what I am already doing that on my blog, but it is in Korean language. www.blog.naver.com/bmw335isedan

Starting monday, I will be posting in both Korean and English. Also I will update this thread as well.

 

[bmw335isedan]

Result of May 5, 2013

Here's the result for today

http://imageshack.us/a/img266/2253/562013.jpg

Total of 7 round trips and profit of 14ticks. However, it is more like 7 ticks because once broker start charging me fees, it will be one tick per round trip.

Anyways, as I promised earlier, I will try my best to tell you guys about the decisions that I made.

I think I mentioned this before, but I am a trend follower. Even in scalping, I believe there are two types. Thoese who bet against the trend and those who go with the trend.

My strategy has been modified slightly to meet the market criteria, so what I am saying today is the most updated version, but the main idea is the same.

Mainly I am looking for a signal bar either Bullish bar or Bearish bar with volume. Also it has to be above moving averages (5,20,60,120) for Long and below for short.

Once I get in, I am looking for next 3 ~ 5 ticks and get out. For stoploss, I use 5 ticks, but rarely it hit because I get out when the price breaks 5 moving average.

Sometimes i make more than 5 ticks because simply market movement is so strong that it just goes in my favor.

So let's talk about the real example from today. I will just explain couple of them.

First trade I made, big bearish signal bar below moving average 5,20,60,120. I got out when I hit 5 ticks, but when you buy back with market price sometimes I get 4 ticks profit.

Second trade, I got in but market only moved 3 ticks so I waited, but ended up breaking 5 moving average so I made 1 tick out of the trade.

Third trade, I got 4 ticks same entry rule.

So on.. it is a very simple strategy focusing on not losing money rather than making huge profit from one BIG trend.

Keep in mind that there are strategies for profiting from a big trend, but you have to face the whip-saw (non-trend).

My personality just does not let my account go into negative territory. I think it is all about personality rather than strategy, but most people focus on "which strategy makes the most money?" "How should I trade?"

Even if Warren Buffet taught me how to buy and hold for long term, it would be useless to me since I am very impatient.

 

[bmw335isedan]

Does anyone else have better idea? I am always open minded. Looking to change whenever I feel necessary

 

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[bmw335isedan]

Result of May 7, 2013

Before I start trading at 9:00AM KST, I check last night's Wallstreet result.

http://imageshack.us/a/img202/3134/572013.jpg

Ever since American market started climbing, volatility and liquidity start to pick up. As you guys can see on the picture, New York did not move much.

By knowing this information, I can predict what will happen this morning. It simply will not be a trendy market and that does not mean that I will change any of my strategy. It just means that I won't be making 20 ticks per trade and it will be more like 3 ~ 5ticks a trade.

http://imageshack.us/a/img203/3134/572013.jpg

So take a look at my result. I made 14 ticks today. 5ticks, 4ticks, 0tick, 5ticks.

Same rule as before

 

[bmw335isedan]

Result of May 8, 2013

Wallstreet is having some fun these days. S&P is the highest in the history, but too bad I am trading US Dollar and Korean won.

Economy book says when the economy of a country strengthens so does the value of currency

Take a look... a HUGE gap down. US dollar actually weakened.

I think this is why University Professor make money teach students not trading futures.

http://imageshack.us/a/img254/1610/582013.jpg

First trade I lost 4 ticks

Second trade I made 4 ticks

So I am even!

Actually market was good with lot of volume, but it gapped down by 3 korean won, which is just too much. It should have started around yesterday's closed price then I should have made 2 korean won very easily (about 4%)

Anyways as usual I am sticking to my plan.

 

[bmw335isedan]

Result of May 9 2013

Hello guys

I made an important decision. I decided to withdraw all my money and go to Tradestation and trade E-mini S&P 500 and Euro FX.

I am tired of lack of liquidity in Korean market. Maybe later I will come back for South Korean Kospi Futures.

Behind this decision my paper trading account at thinkorswim has grown consistently over 3 months.

It is very hard to see my real account not grow and see my paper account grow expotentially lol.. I know I am childish

I know that paper trading is very different from real trading, but I have a lot of real trading experience to back that up.

Also I am a type of a person that when there's opportunity, I grab it with no hesitation.

Therefore, I am waiting for US brokerage folks to wake up so that I can make a phone call and open an account.

Hey guys, after extensive research, I decided to use Tradestation, because it gives lower day trading margin for E-mini S&P 500 contract and very cheap commission.

Does anyone have better idea?

 

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[Guest3722A]

Day Trading - Day Trader - Automated Trading - Day Trading Software - EliteTrader.com top left corner has ratings on several brokers. of course research all brokers and clearing houses to make sure there isn't any major violations.

you can also search threads at bigmikestrading.com which lists the various brokers in the member's profiles.

there's also a futures prop shop topsteptrader.com but that's basically a job unless you're automated. good luck

 

[bmw335isedan]

Result of May 10, 2013

I am currently in the process of creating trade station account. Representative was polite, knowledgeable and quick in response. I was able to literally finish application process within 15 min or so. Now I turned in all required documents and I am waiting for approval. If approved today, I can send out international wire on monday and probably I can start trading on monday.

 

[bmw335isedan]

Hello guys

I am expecting account to be ready by today and send wire tomorrow. I very excited about this new opportunity!

 

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[bmw335isedan]

Sorry guys for delays. Will update as soon as I am back

 

[theticker]

Day trading stocks is NOT fastlane....

the big money is in finding outstanding stocks and holding for many months. Think TASR 2003-2004 from $2 to $350

HANS, novv MNSTR, $7 to $500+ in three years.

The BIG money is in the big moves....and it's passive!
yes they are rare but it's vvhere millionaires are made. I have never met a day trading millionaire ever.

 

[theticker]

the only people vvho get rich day trading are the brokers.

 

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[theticker]

Hello guys

I made an important decision. I decided to withdraw all my money and go to Tradestation and trade E-mini S&P 500 and Euro FX.

I am tired of lack of liquidity in Korean market. Maybe later I will come back for South Korean Kospi Futures.

Behind this decision my paper trading account at thinkorswim has grown consistently over 3 months.

As i said...day trading isn't vvhere it's at.

 

[MJ DeMarco]

day trading isn't vvhere it's at.

vvho get rich

vvhere millionaires are made

Curious, do you NOT own a computer keyboard that has a "w" hence the two "v"s? And are you going to give an intro, or are you just gonna troll trading threads?

 

[Held for Ransom]

Curious, do you NOT own a computer keyboard that has a "w" hence the two "v"s? And are you going to give an intro, or are you just gonna troll trading threads?

That is probably one of the funniest things I have ever read. It is hilarious on so many levels...

 

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[bmw335isedan]

Day trading stocks is NOT fastlane....

the big money is in finding outstanding stocks and holding for many months. Think TASR 2003-2004 from $2 to $350

HANS, novv MNSTR, $7 to $500+ in three years.

The BIG money is in the big moves....and it's passive!
yes they are rare but it's vvhere millionaires are made. I have never met a day trading millionaire ever.

You are going to see one in a bit

the only people vvho get rich day trading are the brokers.

Hello guys



As i said...day trading isn't vvhere it's at.

I have read this many times in the book and in the news. "90% of volume in futures come from Day Trading"

New CFTC Data Indicates Day-trading (HFT) Accounts for 90% of Gold, Silver, Oil Futures | SilverDoctors.com

Take a look at the fact.

There are tons of money in Day Trading. Why would people day trade when they cannot make money? Of course there are people who make a lot in long term, but that has to do with trader / investor's personality.

Trading business is pretty much an anonymous business, so I am sure people who make a lot of money are just hiding.

Simply no reason to go public and I will go anonymous once I hit 100k as well (hopefully )

 

[bmw335isedan]

Oh yeah forgot to mention.

Tradestation account has been approved and I just sent out wire on Sunday via online banking (South Korea Citi Bank). Surprisingly they let me send out wire 24/7.

I will probably just observe today and learn about trading platform.

 

[theticker]

So I am trolling because I called B*S* on your day trading "theory"?


Even O.P. admitted he abandoned his original method and starting something new. Next time he'll abandoned the whole idea and start another business.

So on here you either agree with o.p. or you are trolling?

I expected a lot more professionalism on this board....Seems I am wrong.

It's more like a "cult" than a meaningful business board. Even the mighty M.J. is wrong sometimes you know?
or is that not open to discussion?

Enjoy.

 

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[Jonleehacker]

Tradestation account has been approved and I just sent out wire on Sunday via online banking (South Korea Citi Bank). Surprisingly they let me send out wire 24/7.

btw, I've been meaning to ask you to post the books about day trading that you read that you would recommend.

 

[theticker]

LOL...that H.F.T. (go and look that up) by the huge Hedge Funds.

So that has what do with you day trading successfully?

How is that a "passive" income/business?

I have read this many times in the book and in the news. "90% of volume in futures come from Day Trading"

New CFTC Data Indicates Day-trading (HFT) Accounts for 90% of Gold, Silver, Oil Futures | SilverDoctors.com

Take a look at the fact.

 

[theticker]

"How to make your broker rich and get shafted by H.F.T. hedge Funds in under 8 weeks" is a great start.

btw, I've been meaning to ask you to post the books about day trading that you read that you would recommend.

 

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[theticker]

if you want real world trading go to Elitetrader....ask many pro's about real day trading..Not o.p who as about 2 min's experience and pours scorn on anyone dare questioning his wisdom. the only one making money employ H.F.T./computer algorythem trading and that's intense.

O.P. with his moving averages/chart patterns has 0.0001% chance of lasting more than 3 months. Still he "might" learn something from it.

op bet you $100 you are not up in % after 6 months! bet 12 months form now you will not still be day trading..But have a good time trying!

The main point here is.....day trading is not passive. Something no-one seems to have mentioned. The fact it's not profitable is a huge problem as well.

 

[theticker]

LOL...you don't say......

I know that paper trading is very different from real trading

,

TOO funny.

 

[AllenCrawley]

if you want real world trading go to Elitetrader....ask many pro's about real day trading..Not o.p who as about 2 min's experience and pours scorn on anyone dare questioning his wisdom.

I see you got the "w" key on your keyboard fixed. Well done. :groove:

 

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[AllenCrawley]

I expected a lot more professionalism on this board....Seems I am wrong.

Hmmm... maybe you should have approached this board with more professionalism yourself. You just joined. You did not post an introduction thread. As a result we don't know who you are, what your experience is or why anyone should listen to anything you say regarding this topic. Your posts were confrontational at best and showed no respect for the owner of this forum or any of it's members.

 

[bmw335isedan]

if you want real world trading go to Elitetrader....ask many pro's about real day trading..Not o.p who as about 2 min's experience and pours scorn on anyone dare questioning his wisdom. the only one making money employ H.F.T./computer algorythem trading and that's intense.

O.P. with his moving averages/chart patterns has 0.0001% chance of lasting more than 3 months. Still he "might" learn something from it.

op bet you $100 you are not up in % after 6 months! bet 12 months form now you will not still be day trading..But have a good time trying!

The main point here is.....day trading is not passive. Something no-one seems to have mentioned. The fact it's not profitable is a huge problem as well.

First of all, can you put together everything in one post? Why are you posting every 4 minutes 4 times in a row?

Well, I did a lot of research on day trading and I am still learning everyday trading. So you may criticize me on the trades I made and you may give helpful advice so that everyone can learn in this process.

However, what you are doing is not helping anybody except you are making my thread way too popular.

I agree that sometimes my trades are not profitable.. isn't this why I am in a progress thread? If I were already trading like GOD than I wouldn't be here.

Well have you not read MJ's book? I though we are suppose to work hard until we build up our business and sell it for big chunk of money then you generate passive income from bank and do whatever we desire. Please correct me if I am wrong.

I do not know why you are spending so much time meaninglessly wasting everyone's time and energy.

I will take a look at elitetrader

Anyways welcome to the forum

 

[donny123]

nice thread.
this is exactly what i am trying to do to work up a bankroll for myself
i've been practicing almost everyday for the past 8 months on a simulation account on Topsteptrader, trying to get myself funded.
if you go on youtube, you can watch their instructional videos. i find their vids on psychology are the most helpful.
good luck on your trading

 

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[bmw335isedan]

Hello guys,

I am sorry to tell you guys that I will be stopping this progress thread as of today.

The whole point of this thread was to show everyone what I am doing and hopefully it will help people who might want to do the same.

I feel like I am spending too much time dealing with meaningless attacks. I do not know why some people are having problem with free information on internet.

In my opinion this is because my thread is ranked 3rd on the list so some people are jealous maybe?

But I have no interest in view counts.

Just to update you guys on Tradestation account. I funded successfully and it is live and I made 13 round trips with profit of 17 ticks on E-mini last new york trading session.

Quick review on tradestation platform. I think they have one of the best platform for scalper with very low commission.

Anyhow

I will work very hard and study hard. I will come back with much more reputation and proof of profit.

I will keep you guys updated once in a while.

It was very fun communicating with you guys.

 

[Ikke]

It's a shame you will stop posting updates here. I really liked to follow your progress and learn a bit more on forex trading. As far as I can see there is only 1 person trolling on here who is heading towards a BAN, or atleast i hope he is. It's a shame you would stop posting because of 1 troll