Aug 13

full time trader log 2012 08 07

full time traderAgain, trades made on 7 August which I did not publish earlier.

ROFL.. traded for the “fun” of trading, net profit of only $7 i.e. only 3% on ROI for the day. In terms of winning trades, its 57%… hmm… not that consistent yet! Back to drawing board?

Aug 13

full time trader log 2012 08 06

full time traderTrades made on 6 August which I did not publish earlier.

Can’t really recall what was my emotions while making these trades. Stating the obvious, made 3 losing trades at the beginning of the day and then, 5 straight winning trades thereafter. My take, it takes perseverance and a great deal of mental stamina and strength to become a full time trader apart from the technical skills and money management.

Aug 09

Off trading, again

no tradeStill away on business trip. Will resume trading perhaps next week. Stay tuned for more articles, posts and trade logs. Meanwhile, happy options trading.

Aug 01

full time trader log 2012 08 01

full time traderTrade # 1 : Opened TOS chart for less than 30 seconds, briefly glanced through the signals and straight away opened the trade?! What was I thinking? This is the punishment unto myself for being reckless! Gambler’s attitude!

Cooled down, reconditioned my mindset and studied & analysed the charts, then opened Trade #2, #3 and #4. This should be the way to trade, NOT a reckless gambler!

This is why I stressed then and now, trading psychology is the utmost important factor in winning trades. Will keep reminding myself and practising that!

 

Jul 30

full time trader log 2012 07 30

full time traderWas out for meeting the whole afternoon. So, didn’t manage to enter trades during the earlier pre-market session.

Thought chart signals were spot on at 820am, but otherwise. So entered another trade 10 mins later to recover the position.

Rested and tried out $DJI for a change. Lol… was watching a TV episode the other night, and the hero yelled “CHANGE”. Anyway, watched $DJI movements like a hawk for 45mins before decided to open trade on it. Chart patterns formation for $DJI looked great and the timing never looked so RIGHT before (ie towards the tail end of the 5mins lockout period); did not hesitate to click the execution button for opening the trade…. but still a bit cautious on stake amount, first time shy!

 

Jul 29

Portfolio building for a full time trader

full time traderThere is no secret that I traded only a few counters as demonstrated from the trading logs I’ve posted so far. Being a full time trader, one should have his/her favourite set of stock portfolios for trading purpose.

For me, I started building my sets of portfolio during my early trading days when I was playing earnings announcements. Back then, there used to be a free stock screener tool, MSN Money Deluxe Stock Screener (now discontinued), that I often used during earnings announcement play. I would set the parameters in the stock screener and then have the counters who would be announcing their earnings keyed into the screener to validate their current ratings and signals. It was a useful tool but it has now discontinued and I have yet to find a good replacement for that MSN Money Deluxe Stock Screener. Sigh…

Anyway, it was that earnings play and that stock screener that I learnt about the stocks, their brands, their products, their operations, their financials, their stock price movement behaviours  and started building my favourite stock counters. Fast forward today, I use these sets of portfolio for my day trading purpose.  As a day trader, I am looking for counters that swing a lot during an active market, counters that have long candles (doesn’t matter if they were greens or reds), counters that are volatile.

I traded a lot on AAPL on my IB trades. AAPL has big intraday price movements, suitable for my IB trading style. For IB trades, the sooner I close the trades, the better. I once held a trade for less than a minute and closed it to make a profit USD300. The chart signals were all aligned and spot on.

For this past month, I tested the binary options trading using EZTrader platform. In my opinion, the trading method is totally different from my IB trading style. In IB, I look for stocks that are volatile with big day swings. I applied that trading system to binary option trading, I made quite a number of losing trades. I took a step back and reassessed my mistakes. For this binary options trading, I looked for pre-market market conditions that are not volatile, and movement consistently in one direction that is predictable from my charting parameters. NDX Futures fits that criteria and the index is something familiar, known to me (compared to currency pairs and commodities). If you have read my previous posts, almost 95% of my binary options trades are traded on NASDAQ 100 Futures.

Building up your portfolio takes time. One might need to consider his/her trading style and system for picking up counters to be listed in his/her favourite portfolio. As for me as a day trader, I would not care so much on the size and diversity of the set of portfolio I picked, I am not investing long-term anyway. As long as my portfolio is making money and can be used continuously to make money, even if it was just a one counter portfolio, it is good enough for me. In my mother tongue language, there is a saying, it doesn’t matter if your cat is black or white, the cat that catches the mouse is a good cat. Cheers!

Jul 27

daily trade log 2012 07 27

7 trades today, all on /NQ. 6/7 wins. With this streak, being a full time trader might just work! Lol…but, in dollar sense, the winnings ain’t that great, only USD77 for 7 trades.

 

Jul 24

daily trade log 2012 07 24

4 trades today, all on /NQ. Calling it a day. Stick to the system…. stick to the system. don’t be greedy… These phrases are always running in my mind. As always, trader’s psychology is the utmost factor when opening and exiting trades.. Greed and fear are enemies!

Anyway, am using EZTrader for binary options trading. Maybe I did not research deep enough, but of all the 4 binary options brokers I considered, EZTrader meets my requirements. More on that in another post.

ExpirationsEveryHour

Jul 24

daily trade log 2012 07 23

A few trades on /NQ today; pre-market trades and putting lessons into actions :-

1) ONLY enter trades during pre-market (for less volatile market conditions) to suit my chart reading technique unless successful in finding a new set of charting parameters.

2) DO open trades only when all chart signals are aligned, and more importantly at the RIGHT timing taking into consideration the 5-mins lockout period. If chart signals are aligned but timing isn’t right, look for next trade.

Jul 20

daily trade log 2012 07 20

Entering trades during pre-market tends to compliment my trading system. I noticed from the losing trades that I made, they were during an active market, except today’s. My winning trades are mostly during less volatile market conditions, i.e. pre-market. Maybe my chart reading technique is more accurate during these pre-market conditions.

Another factor of my losing trades could be due the 5-mins lockout period during active market. My reading of charts appears to be also more accurate during less volatile market conditions.

These are just my flaws of my trading system anyway. Other traders might not agree with my analysis. That is just fine, nothing is wrong…. lol.

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