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Beginners Trading Journal

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  #61 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

Forgot to mention a position opened on 15/1/13
CLO went long 300 shares at $1.01, stop $0.96, Target $1.30. Went past s/r of $0.99, retraced and broke out. A few days later a large candle up. I use that as a confirmation signal, may look at adding at that position as well.

17/1/13
JBH went long 65 shares at $10.60. This chart gave me a few buy signals, it has been going up retraced under s/r of $10.67, broke up with a large candle, broke through s/r completing a h/s over past 12 months, and broke through a sloping trend line of 4 years. I wanted to trade the h/s pattern, and a few days after the break out, it traced back, and I went it when I was comfortable with the price. I got stopped on trailing stop at $10.39 being the low of the candle before the break out, and also it has been the ATR stop on a chart. I got stopped out 21/1/13, and stock has been heading lower.

23/1/13 KMD I added to my existing position at $1.71, 250 shares. It was a small flag formation and break out. Trailing the stop. Target $1.90. With this stock my initial target was $1.70, which was reached and showed support around that area, so I am holding on to all positions for now. If it reaches $1.90, will sell half.

23/1/13 SVW went long 90 shares at $8.64, initial stop $8.50. Target $10.50. Went above recent high of $8.50, retraced and broke out.

23/1/13 AGK went long on 100 shares at$15.40, with initial stop $15.21. I saw consolidation under a major s/r, break out was too large, and when stock retraced a bit a went long. My auto stop was $15.21, but manual stop was a close bellow $15.375, being the recent low. On 28/1/13 stock closed bellow $15.375, at $15.37. I had to stick to rules, and was planning to sell it the next day. When I got to the computer the next day, the stock moved up$0.25-0.30, I decided to move the auto stop to break even (including comission), and let it play out. It as stopped out 2 days later at $15.56. I was happy with the trade, i followed rules, and adapted to a situation, without taking any risk. Neutral trade, covered its own comission.

29/1/13 AIO went long 250 shares at $4.79, stop $4.69, been retracing in a channel and broke out. Target $5.30


29/1/13 BOQ went long 75 shares at $8.03, stop $7.8, target $9. Closed above a recent high of $7.97, retraced over 1 week and broke out again.

31/1/13 closed out of RMD - been an excellent trade, and today i gave back 60% of winning because my stop was to far. This was not a mistake on my part, but part of learning. When stock has large moves up, I need to readjust my stops, I had my stop sitting on a previous low. I use either a previous low, or trailing stop as my auto stops, depending which one is further away.

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  #62 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

3rd month of profits!!!

Total (closed) trades 8, Winners 6, losers 2
Win ration 75 %
Total wins $221.9 + $21.6 dividends = $243.5 Average per trade $36.98 without div, $ 40.58 with div
Total losses $26.30, Average per trade $ 13.15
Comission $ 128, Funding cost $ 28.43

Totals: $243.5 - $26.30 - $ 128 - $ 28.43 = +$60.77

Going into Feb in a good position with $300 paper profit. As was the plan a few months back, I will now double my positions, and increase my stop loss to $20-30. I would like to see another 2-3 months of profitability before I do any further increases. I expect Feb to be positive because of a strong current position. I will then watch what happens in March/april, and if I have loosing months, the I go back to current position size.

Overall I am now around -$750-800 down. I would like to think I will recoup all my losses in 2-3 months, but time will tell.

I need to stick to rules, and not rely on performance of past few months, as it has been easy money due to strong moves in most markets.

Fingers crossed for the next stage!!!

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  #63 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received


4/2/13
ALZ went long 250 shares at $3.43, stock moved up, retraced and broke out on 29/1/13, i missed the break out, but went in 4 days later when I saw it. Stopped out on 12/2/12 at 3.35, there was a big spike down, and my suto stop kicked in. Loss of about $ 20, i was able to move the stop from intial stop of $3.33

6/2/13
BLD stopped at $4.83, was bought on 30/11/12 as breakout of h/s pattern, had a good run, but on 5/2/13 it closed bellow the recent lows, and was sold first thing on 6/2/13. The target was $5, which was achieved on the same day I exited the trade!!! $+63

8/2/13
WRT stopped out at $3.1, through an auto stop. $+30 collected $23 div. bought on 29/11/12 at $2.98. Another stock i wasnt prepared for with dividends. Making sure I know when the next divident distribution is before i put on any trade!!!!

8/2/13 MQA long 350 shares at $1.72, initial stop $1.65. was retacing above major s/r, and broke out on 7/2/13, but stopped on 25/2/13 at $1.655. total loss $-23

11/2/13
APA long 175 at $5.81, new highs, and then retracement over 1 week, and break out on a large candle. stopped out 5 days later, when the stock opened on my stop loss and got hit on 15/2/13 at $5.74, the stock went up that day, creating another buy signal, but I was too shy to try it again in such a short time.

12/2/13
GEM Went long 250 shares at $1.64. New highs, then retracement, and break out on 11/2/13. Current stop moved to $1.70

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  #64 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

14/2/13
SGT long 350 shares at $2.77, stop at $2.70, got hit the next day. loss $24.50

This was a break out pattern, broke past s/r line at $2.74 forming a h/s pattern over 4.5 yrs, I missed the breakout, so bought in a few days later when it was closer to my stop of $2.70.

Still watching the stock, it still is a potential buy, and looks like forming a retracement.

18/2/13
BOQ reached its target of $9, and was sold for $9.1. I am still getting very confused when a stock gets to its target...
I need firm ides/plans in place for that now, as I am having a few stocks reach their targets now....
profit $80

18/2/13
AAD long 300 shares at $1.57. Broke through major s/r at $1.55 retraced back over 2 weeks, and broke up on 15/2/13. Stopped out on 21/2/13 on a massive move down, no explanation for that yet....

18/2/13
DUE long 400 shares at $2.14, stop $2.09, target $3. There has been a clear retracement around a major s/r of $2.20, broke up on larger volume on Friday 15/2/13. Also gave another buy signal, on second breakout past s/r line. But I had too many open positions at the time, and decided not to take any more trades.

18/2/13
BHP went long 25 shares at $38.68, with stop $37.68. The stock broke through major s/r line at $38 forming h/s pattern, but was stopped out on 21/2/13 at $37.5. Total loss of $30

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  #65 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

Through most of December, and January, all I could see was buy signals. Past few weeks starting to see some sell signals, and will try and go short if I see a good opportunity.

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  #66 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

25/2/13
DLS went short 300 shares at $1.38, target of $1. went down and been slowly retracing up, then sharp move down on 21/2/13, went in when the stock was closer to stop of $1.44.

27/2/13
SVW reached its target of around $10.50-10.70, and was sold at $10.76, Profit $190

again I did not follow my new rule of selling half og the stock. I have an auto limit put in, and that got triggered. I am afraid if I dont, then I will be greedy and not sell half of the position, and end up with reduced profit....


27/2/13
DJS went long 300 at $2.71, the stock borke above s/r of $2.65 retraced back, and then had a very sharp move up, today gave me an opportunity to buy closer to stop. The low of the large candle is the stop $2.65

27/2/13
NWH went long 350n shares at $2.06, stop $1.99. Broke through major s/r at around $2.08, but moved too far, today gave me a chance to get in closer to the stop.

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  #67 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

Another profitable month!

Total trades (closed) 10, Wins 4, loss 6
Win ratio 40%,
Total Win $363.2, Dividends $23.75 = $386.95 Average win $96.73 with div, $90.8 Without div
Total Loss $126.76 Average loss $21.12

Comission $160 Funding $13.3

Totals: 386.95 - 126.76 - 160 - 13.3 = + $86.89

My average loss for February was greater than previously, which was expected, since I have doubled my average loss from $10-15, to $20-30. My wins were trades that were taken in previous months, based on lower losses and lower volume.

I also had more than usual number of stocks stopped out. Some may have been due to poor analysis, and premature trading. This months I am really concentrating on only taking good trades, not forcing the trades.

I currently have nearly $500 in paper profits, and most of those were from dec/jan entries, but a couple of Feb entries are in the money now. Overall, on paper I am now down around $500.

Same lessons in place as before. I am not rushing trades now, I am trying not to think about a trade if I missed it.
My preparation before taking a trade are getting longer as there is more things to cover now.

I also got in contact with a company called "investor Unity" in Australia. I normally would not be promoting a business here, but they were great!!! They offer free education and advice for traders (YES FREE), they will get their commission if you go with some of their recommendations etc. I spoke to Adam (CEO I think...), who was super nice, and spend 20minutes on the phone with me giving me advice on brokers.

So in the next month I will be moving to Interactive Brokers who offers trades from $6 for Australian shares each way ( versus $25 that I pay now). Also will be looking at LCGmarkets for CFD ($5 per trade, versus $8 I currently pay)

This should help reduce my commission cost !!!

The plan for the next few months is to do all my long positions with Iteractive brokers, this way I do not pay interest, and all short positions via CFD (collect interest...!)

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  #68 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

March 2013

This month ASX has been knocked around the strong s/r of 5000-5200. As the result of volatility a lot of my positions were closed/stopped, resulting in much greater number of trades so far, and this month may not be profitable, or may be a small profit.

I am also still struggling with entry points. My entry is mostly break outs, or sometimes if after a break out the gap is too large, and stock comes closer to the stop, i will open the position then. I really would like to have a firm idea/set of entry points. I am making it my aim now.

My stops are working well, and at the moment I cant complaint.

Early march, I have had an equal amount of long and short set ups occurring, and have had a few short positions opened, but in the last week, it seems to be only long positions setting up, and I am taking the view, that the next move is going to be up. I have opened a few positions in the last 1-2 days, and will wait for more than half of my current positions to be in the money or breakeven before opening any further.

My paper gain took a beating in March. Early march I was up $600, and my total paper loss was down to $400, I had 12 positions open. In 1-2 weeks 9 were closed, and my paper loss increased to $700 (due to stops, commisions etc)

1/3/13 DLX Long 250 at $4.08, stop $3.99. It reached all time high in Jan, then retraced for 2-3 weeks, and broke out the day before. Trailing stop on this one for now.

4/3/13

IFL long 115 at $8.27, stop $7.99. Stopped on 13/3/13 at $7.90. The stock was going ex-div a few days after I bought it, so I was ready (20cents), and the day before adjusted my stop by 20cents, to $7.79, then moved it to $7.90 with time. Total loss $42, div $22, = - $20

The stock closed above a major s/r of $8.05, retraced back, broke out again, and I though was consolidating above the s/r on increasing volume. I missed the break out.
Now it looks like a tripple top, and if it breaks past $8.50, i may buy again.

5/3/13

KMD hit stop at $1.88, by now I had added to my existing position. Total profit on both trades =$80
The day I got stopped out was a long tail candle, and 2 big days up afterwards, I was not confident enough to go back.... still looks like consolidation now, so may be a trade in the future.

6/3/13

NWH stopped at $1.99, loss $18. This did not hit an auto stop, but was a manual stop, since the day before stock closed bellow the recent lows after the break out candle. This was h/s pattern.

WDC long 90 @$11.31, stop $10.98. Stopped 15/3/13 at $10.98. $11 was looking like a major s/r, and it broke through, and was consolidating above it, then made a move up, which did not last, and the stock headed lower.

8/3/13

SYD short 320 at $3.18, stop $3.27. Stopped on 25/3/13 at $3.25. This looked like a continuation pattern after some falls. If anything I should have got out earlier. Continuation pattern should have only been 1-3 weeks, but this one kept going sideways....

11/3/13
FBU long 100 at $7.43, stop $7.14, stopped 13/3/13 at $ 7.14. Broke through major s/r of $7, and was consolidating over it, broke out on 10/3/13. Did not last and quickly reversed.
I made a stupid mistake with this one, and somehow opened the same position twice!!!! So my loss was double on this trade.... single loss of $29, or combine $59.... This game has no room for such stupid mistakes...

13/3/13

CGF long 150 at $3.93, stop recent low of $3.84. Stopped on 19/3/13 at $3.79, when it closed bellow its stop on friday the 16/3/13. There was a breakout past major s/r at $3.86, and I missed it, so i thought i will get in closer to the stop. May be there is a lesson here, to stay away from weakness straight after a break out.

DJS stopped with an auto stop at $2.92, total profit $62. Bough late Feb. It has since formed a flag, and broke out, but it was too far from stop for me to buy going sideways at the moment.

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  #69 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
Thanks: 22 given, 59 received

I am finding it beneficial to do updates only 2-3 times per month. It gives me an opportunity to review my trades a few days/weeks later, and see it with fresh eyes. I am fairly happy with my trades in March, even though most have been unsuccessful....

14/3/13
CLO closed out at $1.27. Formed another long tail candle on that day, could be seen as another buy signal... Not confident enough to go back....

DUE stopped at $2.16. it consolidated through Feb and broke out late Feb, I went long, but then stock went sideway, and I got stopped out on 14/3/13, It has since broke up past recent sideway move, and recent high as well, so I went long on 21/3/13 300 at $2.25, stop $2.15.

18/3/13

AIO stopped at $5.47, total gain $170

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  #70 (permalink)
melbourne Victoria/australia
 
 
Posts: 68 since Aug 2012
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In the last week of March I had 6 more trades, but because of some computer issues, it will be too hard to put up the charts.

March has been a "funny" month. I had a lot of trades, mainly because I got stopped a lot of the times. SO if I had the room I would put another trade on, instead of a closed one. Partially it is due to volatility/indecision in the markets. ASX reached a significant s/r of around 5100, and has been bouncing around it for a few weeks now. This has definitely caused problems. Should I stay away from new positions, while the indecision is happening? This will require some serious discipline and patience....

Was I over trading in March??? I dont know, I do not have rules for when I trade, and it may be something to look at in the future, but for now I follow my scans, and trade whatever I see as an opportunity. Currently most stock I have seen, are showing set ups for a move up.

My biggest problem emerging now is my entry point. This has been all over the place, and possibly contributed to too many trades in March. I really need a specific set of rules to define my BUY signal, every other step of my process I am currently happy with.


Total Trades 15, Wins 7, Losers 8
Win ratio 46%
Total Win $477 Dividends $35.56 = $ 512.56 Average WIn $68 With Div $ 73.15
Total Loss $ 217.85 Average Loss $27
Compare to last month my Average win has decreased, and Loss has increased......
Commission $ 16 x 15 = $240 Funding $32 Total$ 272
Net $ 512- 217 - 240- 32 = + $ 23

Stupid Trades 1 (Not Paying Attention) Put the same trade on twice, resulting in an extra loss of $29 + $16 commission
Without the stupid trade Win ration 50%, average wins same, Total loss $188, total commission $ 224 Total Win $68

Stupid trade cost me $29 + $16 = $45, Not a huge sum of Money, but my total account value currently is $1300, and that is 3.5%.

Fifth consecutive months of profit, though a tiny one this month.

Win ration has dropped in February to under 50%, so is March. I really would like to consistently see win ration over 50% I think it is possible.


In April I am moving to interactive brokers for my trading. This will reduce my transaction costs. Compare to above i will be saving $4 per closed trade, and since I will try and use mostly my funds, I will also save on interest. The short positions will be done through CFD's. So looking at above, I would have save $60 on transactions, and another $10 on funding.

I am moving all of my current trading funds into Interactive Brokers ($30k). This will give me an opportunity to value my trading based on my account size (%). I have no intention of going stupid with it, my account positions will remain the same, as well as the number of open trades I will have.


Lessons for April:

1. Work on buy signals - This is becoming pivotal, as I am noticing I am not consistent with entries. I will try and classify the entry signal now. Labels it is reversal, or continuations. Closer attention to s/r, and volume.
2. Patience - Pay more attention to indexes, to avoid areas of volatility and unnecessary trading.

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