Sick
Gross: -$427.00
Net: -$508.38
Loss From Top: $641.65
Trades: 35
Shares Traded: 100000
Stocks Traded Today (net profit/loss):
AT&T (T): -$6.59
Micron Tech (MU): -$58.65
EMC Corp (EMC): -$94.01
Motorola (MOT): -$125.58
Advanced Micro Devices (AMD): -$223.74
Sick....that's all I can say about today's trading and the way I felt today.
This morning I woke up late and I really had to drag myself out of bed and I somehow got myself ready and I managed to get into the office.
Once there, it was just one bad trade after another....it was almost as if I was actively trying to lose money.
And I don't know why, but I didn't record any of my bad trades in my trading journal....perhaps at the time I didn't think they were bad? Maybe I was half-asleep at the wheel? I don't know....I just went from a losing trade to the next...everything was kind of a blur.
A little later on, the system shut me down and prevented me from trading any further...almost as if the system were saying "Whoa there buddy...something is not quite right with you - you've lost enough money for today...go home and take the rest of the day off".
It was a good thing the system did shut me down because Lord knows how much more money I would have lost.
My day was done by 10:30AM - I lasted only an hour.
I made my way home and then I hit the sack pretty hard and basically slept (and sweated) the day away.
I'm feeling a little bit better right now and I'm a little more conscious. And I am also more conscious of the damage I did today in my trading and I am now assessing the consequences of attempting to trade today.
At my old 9-to-5 job, I welcomed sick days and I tried to make the best use of them. Even if it was a minor thing, I'd call in sick simply because it got me out of doing something I didn't really enjoy doing.
Well since I started trading, I hate taking sick days. Trading is something I love to do and I'd rather be trading than lying in bed trying to rest it off.
Today however sent a clear message: even though trading is something I love to do, calling in sick is the best thing I could do for my trading and for me physically.
I'm just glad American Thanksgiving is upon us...I hate to think of losing another trading day because I was sick.
Hopefully today is a $500 lesson I won't soon forget...and I hope you all can learn from this mistake as well.
I'm done for the week...I have 4 days to recover before trading again on Monday. I want to wish everyone a happy American Thanksgiving
Good Trades
I don't think there were any...I didn't record anything in my trading journal.
Bad Trades
I think there were maybe one or two, but I don't know why I didn't record them in my journal
Net: -$508.38
Loss From Top: $641.65
Trades: 35
Shares Traded: 100000
Stocks Traded Today (net profit/loss):
AT&T (T): -$6.59
Micron Tech (MU): -$58.65
EMC Corp (EMC): -$94.01
Motorola (MOT): -$125.58
Advanced Micro Devices (AMD): -$223.74
Sick....that's all I can say about today's trading and the way I felt today.
This morning I woke up late and I really had to drag myself out of bed and I somehow got myself ready and I managed to get into the office.
Once there, it was just one bad trade after another....it was almost as if I was actively trying to lose money.
And I don't know why, but I didn't record any of my bad trades in my trading journal....perhaps at the time I didn't think they were bad? Maybe I was half-asleep at the wheel? I don't know....I just went from a losing trade to the next...everything was kind of a blur.
A little later on, the system shut me down and prevented me from trading any further...almost as if the system were saying "Whoa there buddy...something is not quite right with you - you've lost enough money for today...go home and take the rest of the day off".
It was a good thing the system did shut me down because Lord knows how much more money I would have lost.
My day was done by 10:30AM - I lasted only an hour.
I made my way home and then I hit the sack pretty hard and basically slept (and sweated) the day away.
I'm feeling a little bit better right now and I'm a little more conscious. And I am also more conscious of the damage I did today in my trading and I am now assessing the consequences of attempting to trade today.
At my old 9-to-5 job, I welcomed sick days and I tried to make the best use of them. Even if it was a minor thing, I'd call in sick simply because it got me out of doing something I didn't really enjoy doing.
Well since I started trading, I hate taking sick days. Trading is something I love to do and I'd rather be trading than lying in bed trying to rest it off.
Today however sent a clear message: even though trading is something I love to do, calling in sick is the best thing I could do for my trading and for me physically.
I'm just glad American Thanksgiving is upon us...I hate to think of losing another trading day because I was sick.
Hopefully today is a $500 lesson I won't soon forget...and I hope you all can learn from this mistake as well.
I'm done for the week...I have 4 days to recover before trading again on Monday. I want to wish everyone a happy American Thanksgiving
Good Trades
I don't think there were any...I didn't record anything in my trading journal.
Bad Trades
I think there were maybe one or two, but I don't know why I didn't record them in my journal
Labels: trading
posted by J.C. at
7:47 p.m.
10 Comments:
today the system got problem again in the morning...
By
Anonymous, at November 22, 2006 9:54 p.m.
Echo that. I hate to have a sick day since I started day trading.
Bro, take care, and have a good rest.
By
Anonymous, at November 22, 2006 10:15 p.m.
For three weeks I have had a flu. Each time I traded while sick, I screwed up, like rotten judgement was happening. This week I am well again and my trading is back on its uaual pretty good track. Lesson learned: do not trade when I am too tired or sick...I just lose money and time.
Good trading to you.
By
Anonymous, at November 22, 2006 11:48 p.m.
I'm not trying to be facetious here but I've had a case of bronchitis over the past two weeks and my trades have been some of the best ever. As strange as it might sound I think getting sick has given me a real sense of clarity. While my body is fighting off this cold I apply that same lesson of survival to my trades and it's given me back the edge. But I've also learned what's more important is your health, balancing that along with trading will lead to success.
By
Anonymous, at November 23, 2006 1:06 a.m.
i am really confused, how does it work? you trade your own money (then no 9 to 5 job), or a company's money (then it is a 9 to 5)? and you said you go to the office. Beside this confusion I like your blog.
By
Anonymous, at November 23, 2006 1:51 a.m.
To all,
Thanks for all the comments...you may have to bear with me over the next couple of days (i.e. late replies, etc)...at this point I'm feeling much better, but more rest is better than no rest!
Anon@9:54PM,
Thanks for your comments...yea, I think there were several times I couldn't cancel orders and other times I felt that orders took too long to fill (I thought it was just me cause I was sick!)
Gav,
Thanks for your comments...:) Yea, I hate wasting a perfectly good trading day...I'll be back for sure on Monday!
Anon@11:48PM,
Thanks for your comments. I think I while back I also felt a little sick as well and I didn't do too well in my trading...I've learned my lesson and I'll *try* not to make the same mistake again!
Anon@1:06AM,
Thanks for your comments. :) Sounds like you should get sick more often! :) Or maybe just get bronchitis more often :). Maybe I shouldn't have taken all that medicine before going in to trade...they should have a warning on the bottles of medicine: do not drive or operate machinery after taking and more importantly DO NOT TRADE after taking! :)
Zied,
Thanks for your comments. I basically trade the company's money, but the schedule is pretty flexible...there are some traders that don't come in until 11AM, while there are some traders that just leave after lunch, and there are some that just show up whenever they like. But for me, I like to watch the opening (just to get a feel for the markets) and I tend to stay until market close (so in reality, it's a 9:30 - 4 job) :).
Thanks everyone for the well wishes - I really appreciate it! I'll definitely be back on Monday (today I'm feeling much better!). I hope everyone has a great Thanksgiving and weekend!
By
J.C., at November 24, 2006 9:40 a.m.
the quote server got problem again this morning...
By
Anonymous, at November 24, 2006 7:26 p.m.
Anon@7:26PM,
Thanks for your comments. Oh man! It seems like almost every morning for the past couple of weeks we've been having lots of problems. I hope they can fix them up soon...I'm sure many of the traders are starting to get really upset about it!
Anyways, have a great weekend and I hope for some good trading next week!
By
J.C., at November 24, 2006 11:19 p.m.
JC, got a quick question for you. Just popped onto you blog. Your commissions are rather low. I'm a scalper in Atlanta and started relatively the same time as you. Who does your firm clear through and do you just trade on one ecn? Do you constantly add liquidity? Any answers on this would be great. Thanks.
By
hairguru, at November 26, 2006 10:53 p.m.
Mike,
Thanks for your comments. The firm we clear through is Morgan Stanley and we use all ECNs to trade. Some traders are constantly adding liquidity, but for me, I'm a "punch in" kind of trader. The commissions are low because the prop firm doesn't charge that much per trade (13.9 cents per trade) - however they do take a rather big cut of the profits we make :). Aside from what the prop firm charges, we also pay SEC fees, clearing fee (through Morgan Stanley), gateway fee (depends on what ECN we use), and NASD fee.
I hope that answers your question! (if not post up more questions and I'll answer them ASAP!).
By
J.C., at November 27, 2006 9:07 p.m.
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