Results of experiments

About two weeks experimenting with his trade, the number of transactions, size, position, time, trading styles.

The size of the position:

• Small position – begin to think less deal more risk. The result is not very good indicators
• Middle position – most comfortable at this point, the transaction deliberate and concentrating on them. A good profit, with little negative transactions that do not strain
• Great position – a considerable profit, but also big minuses. We need more precision that would make them too little attempt to make mistakes. Incubate large movement does not always work. Once a day you can make, but they always sell will not work. read more

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Discipline – how not to go into limit

I have already described a system of double limits on the day, it’s very hard not to go into teaching for the second time limit and stop. At first, this is a very good technique, but when you’re trading for a long time and follow all the rules pass a day reporting season is not very good for your wallet. That’s why I came up with an alternative:

• You have the same limit on day 2
• First conditional, if you go for it then do not trade today
• If you go for a second, then the next day, you reduce your average position and limit the daily double and so every day if you went for it.
• If the day closes with a reduced limit of normal plus you return it back to the original

It seems simple, can you have any additions you??

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Improving the quality of CPS, and deals

With a new week, enter their new rules to supplement the old ones I have already announced and intended for beginners, that would make them think. The more you bargain, the more in breach of the rules of trade, it should be deleted.

• Originally given three transactions in the first half of the day
• If the CPS (count per 1 cent per share) less than 20, I can not open a new business within an hour or two depending on the market and time
• If CPS is over 20 then you can take 3 more transactions and so on.
• Maximum open transactions can hold 3, in very rare cases, if there is a very good deal, you can open another one, provided that the stop of 1-2 open trade is at zero or plus.
• CPS transaction will be considered regardless of how many times I buy more.

cons:

• An opportunity to miss a good deal if they are very much a day
• Not possible to take a basket of shares
• Will be difficult to find stocks with great potential

pros:

• Very thoughtful of the transaction will
• There will be no emotional trades
• Improve quality in order
• Volume per day will consume a minimum profit commission

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Recovery: Introduction

Start writing a series of lectures on the topic: “How to recover during the losing streak.

Much of the material already for traders who trade more than a year and began trading in plus, but newcomers will be useful points. This course is designed for people who are broken and they lose heart, no desire to trade more and do not believe in ourselves. In my almost 3 years trading on the NYSE was 3 times the black bars and I’m recovering from them. The most basic in the trade that is your emotional state. You must be in harmony with yourself and have confidence in their actions. read more

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No jeweler

After a couple of days all the same understood that a short foot is not mine. Previously did not bother about the stops, even 5 cents or 14 cents, and when I became to try to go anywhere at an unbeatable price and with minimal risk they started giving away too often. Because of this, a good deal closes.
The most important thing – it’s literate stop, even if the price slipped and should not try every time to reduce the risk where it is not possible. Resume normal trade with stops 5-15 cents, but increase the minimum potential in the shares of 60-70 cents.

It is necessary to improve the selection of stocks to look for more stocks with good potential, close to the levels and a clear trend. The main focus on my technical analysis, but now I will carefully read the news and learn of the company. read more

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Beginning of harsh discipline

Finally I am not sick any more and can return to daytrading. I want to tighten my discipline and begin to trade only on my own trading strategy. The main rules are:

• Do not trade the first hour and lunchtime
• To trade according my trading plan
• Risk/reward 1/5
• Stop loss – 5-10 cents
• Potential is not less than 50 cents
• Only the familiar model
• Only trends
• Smooth action read more

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Dependence of profitable transactions from time to time

The schedule reflects the amount of closed positive and negative transactions in a certain range. It is certainly not accurate, but is immediately obvious that the open positions in the first hour lead to negative from me. Here only the closing of the transaction, regardless of what time they were open, but from experience I can say that the best time for the opening of my position is:

• 10:40 – 11:30
• 13:00 – 13:40
• 14:10 – 14:40

We must try to limit the opening transactions in other time intervals

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ScalpTrader: Style Guide

The team is updating our Trading Style Guides to reflect current market conditions. Almost every experienced trader I speak to talks about the impact high frequency trading and Black Box trading has had on the market. Some have been unable to adjust and have been pushed out of the business. From my perspective, oppty continues to exist in spades, but individuals must adapt their style to reflect the new conditions. Here are some of the adjustments I’ve made:

• Positioning for smaller moves: Instead of focusing on the 0.75-2.00 moves, I’m now seeing more consistent success trading for 0.25-1.00. Because I’m positioning for smaller moves, I’ve had to increase my size. With this change comes the need to increase my knowledge on the names I trade and to use tighter stops. I use Briefing.com columns such as Emerging 50/Liquid Momentum and Emerging Growth to help me stay on top of the fundamental/technical developments in some of the names I trade. I’ve also found that by focusing on 0.25-1.00 moves, I am seeing far more opptys over the course of the day. read more

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Thoughts on the mathematical expectation

Let’s apply some theory by taking the average results and see what we can achieve compliance with only the expectation of our trading system, without the super deals.

Initially, we 10C stop in the action, but given the slippage on the average 12S
Commission set 0.006S
Profitable trade is 45 °
Ratio of about 1 to 4 obtained
The position of 1000 shares with us
Consider the 2 options:
A) The first 3 deals with us always in the minus 12C for 1000 shares is $ 120 to $ 132 commission. The fourth transaction, plus 45 ° always.
B) The first 2 deals with us always in the minus 12C for 1000 shares is $ 120 to $ 132 commission. The third transaction, plus 45 ° always.

Suppose that on average we make 10 transactions a day.

read more

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Rules for beginners (Addition)

• Initially at you 3 transactions per day.
• If you have made 3 transactions and Gross more than 20 dollars, 3 more transactions and т.д are given to you
• If 20 dollars that there are less are closed for today

Limit of losses:

• 2 limits of losses are per day put
• The first conditional if you come for it that any more do not trade today
• If come for the second, do not trade the following day

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