Brewski's Most Successful Trading Month Ever!

[brewski1984]

Looks like April was the most profitable month I've ever had in my whole 6 month trading career:

Total Trades = 0
Total Points = 0

Total Cash P/L = 0

If every month was this good I'd be loaded!

 

[wackypete2]

Now if you compound that over infinity then you get....

Peter

 

[Doomberg]

Living the dream ha

 

[Bullishbear]

Baahahhahaaah. Good one.

 

[counter_violent]

Looks like April was the most profitable month I've ever had in my whole 6 month trading career:

Total Trades = 0
Total Points = 0

Total Cash P/L = 0

If every month was this good I'd be loaded!

Cracking results.....to all those who are over trading take note...this is the way to do it !

WD Brewski

 

[safvan]

Bah humbug!

 

[brewski1984]

Thanks CV, the post was half serious/half joking - obviously making 0 profit being my best month means all my others were losers!

On the serious side, I logged into my accounts that have available funds pretty much every tradeable day in April, watched all the usual markets and made absolutely no trades at all. To me, that's a great achievement in discipline and patience.

 

[BlackBison]

Well you are making progress, which is key. I didn't make money for 2 years when I first began trading- we all have to start somewhere.

Keep it up- looks like you are on the road to success.

 

[brewski1984]

Seems like I'm on track for my first ever profitable month!

Total Trades = 1
Total Points = +158
Total P/L = Roughly 4R/8% account increase

Personally I think the exit wasn't the best but I can learn from that. I won't bore you all with the details of the trade just thought I'd carry on the thread, I'm hoping this is the path to consistency but no doubt it was more luck than anything else and it's just a temporary loan I'll be paying back shortly!

 

[Lord Flasheart]

Now if you compound that over infinity then you get....

Peter

theres no need for compounding in this situation,deflation is on its way

 

[coopster]

Certainly beats my record!

Since starting to trade the NASDAQ part-time, in January 2011, i have traded about 200 times for a total of $800k of shares and lost a total of $300 including the fees.

Trading Plans were adhered to for approximately 70% of the time. All trades documented and i'm learning every day from my mistakes.

No indicators, purely chart, L2 and T&S.

Is that so bad for a newbie?

 

[brewski1984]

I guess that can't be bad. How much would you have won/lost if you'd stuck to your plan the other 30% of the time?

 

[coopster]

Strangely, the ones that i define as "no plan" are say 50:50 wins to losses - effectively gambling. The ones defined as "not stuck to the plan" are where the losses are created. Maybe a random entry would be a better plan!

It's difficult to say how different the outcome would have been in hindsight. Looking back at a previous trade now on a historical chart wouldn't show me what the order book was looking like.

My journal does however always say: "should have stayed in longer" or "should have got out sooner", which is obviously not part of the plan. With such a fast paced discretionary system, i guess this is to be expected until experience kicks in.

I guess i am showing some self control. All trades are documented with charts and comments and my account is still almost intact after 5 months so i see it as positive even if the result is actually negative.

 

[brewski1984]

So it would seem not sticking to your plan is your problem.

Where it says "should have stayed in longer" or "should have got out sooner", can you see actual reasons why? At least you are finding your mistakes and trying to sort them though.

Oh and by the way, don't listen to anything I post. It may sound good but like a lot of people on here I'm a complete idiot that doesn't really know what I'm talking about!

 

[coopster]

as you know, on here there are "idiots" and "IDIOTS!!!"

Logical thought. Reasonable questions, general interest in others' trading, good grasp of English. More than most on this site!

As for the trading, the main issue is nerves. I see one tick against my winning position and i want to get out due to fear. I see a few ticks against me having never gone into profit and something tells me "stay in, it will come back!" - Hope. Traditional foes of a trader.

As for an actual trigger for these reactions, i am not really sure. I think the emotions are just something i have to get used to over time.

Has your month stayed neutral or dare i say it - become positive?

thanks

 

[brewski1984]

as you know, on here there are "idiots" and "IDIOTS!!!"

Logical thought. Reasonable questions, general interest in others' trading, good grasp of English. More than most on this site!

thanks

Lol too true!

I don't want to post the reply I wrote to yours as it sounds like I'm a really good trader when honestly I'm not. I don't mean that I don't want to try and help, just that I don't want to give bad advice and make things worse!

I made no trades in April and just the one so far in May so I'm currently +158 for this month. I was close to taking one today but I kept the discipline and passed on it as it wasn't as good a set up as I would like. Why risk hard earned cash on something that isn't perfect?

How are you getting on?

 

[brewski1984]

I am in another trade right now. Currently I'm only about 7-8 points away from my stop which was 35 points away. It's been hovering around this area for a while now but my thinking here is that I have my stop at a significant place and at a point that tells me I'm wrong. It seems to be holding up so far although I'm guessing (not a feeling, just a probability being only a few points away) that it's likely to be hit some point soon.

Now by not closing this, is it an example of letting losers run or is it an example of being disciplined? A genuine question as I'm unsure.

 

[counter_violent]

I am in another trade right now. Currently I'm only about 7-8 points away from my stop which was 35 points away. It's been hovering around this area for a while now but my thinking here is that I have my stop at a significant place and at a point that tells me I'm wrong. It seems to be holding up so far although I'm guessing (not a feeling, just a probability being only a few points away) that it's likely to be hit some point soon.

Now by not closing this, is it an example of letting losers run or is it an example of being disciplined? A genuine question as I'm unsure.

Ok first off whats the trade?
What is your time horizon?
Is it a trade set up in isolation or is it supported by other instruments?

Show us a chart.

 

[wackypete2]

I am in another trade right now. Currently I'm only about 7-8 points away from my stop which was 35 points away. It's been hovering around this area for a while now but my thinking here is that I have my stop at a significant place and at a point that tells me I'm wrong. It seems to be holding up so far although I'm guessing (not a feeling, just a probability being only a few points away) that it's likely to be hit some point soon.

Now by not closing this, is it an example of letting losers run or is it an example of being disciplined? A genuine question as I'm unsure.

If your method is sound then losses will occur as a normal part of trading, so if you are sure your stop is "at a significant place and at a point that tells me I'm wrong", then leave it as is. If it's a loss then move on, but what happens if you close it early and then it goes on to your target area without you? How does that change your expected results over a sample of trades?

There's nothing wrong with closing trades before they hit your stop. The point is to be consistent with your method and not decide to randomly change your mind midstream. If you regularly close early then fine, if not then don't.

Peter

 

[brewski1984]

I'd like to post a chart but I expect I'll just get a load of abuse posted from people about how stupid I am!

My plan was to stick with it, it kind of takes the emotions and random decisions I'd make out of the equation if I let the market tell me when I'm wrong (assuming I'm right with placing the stop in the first place) rather than try to guess it, I just wondered if that crossed the borders of not cutting losers.

Haven't been stopped out yet!