An NYSE Scalper's Tale - A Trader's Diary

Monday, March 26, 2007

Bad Attitude

Gross: -$237.00
Net: -$324.10
Trades: 55

Stocks Traded Today (net profit/loss):
Boston Scientific Corp (BSX): +$93.42
Freeport-McMoRan Copper & Gold Inc. (FCX): +$65.77
Advanced Micro Devices Inc. (AMD): +$55.79
Schering-Plough Corporation (SGP): -$1.39
EMC Corp (EMC): -$17.01
Motorola Inc. (MOT): -$17.43
Abbott Laboratories (ABT): -$75.98
Walgreen Company (WAG): - $104.57
ConocoPhillips (COP): -$141.27
Time Warner Inc. (TWX): -$181.43

This morning my alarm went off, but I found myself falling back asleep a result, I woke up a little later than usual and a little grumpy.

I rushed through my morning routine and saw that outside was raining and I saw a couple of flashes of lightning.

As I made my way in to the office, the streetcar I was in stopped and didn't move....the streetcar in front of it had some kind of trouble and I just sat there in the streetcar for an awfully long time.

After about 15 minutes, I figured that I could probably get into the office faster if I the rain.

I don't know why, but that walk just felt extremely draining and I came into the office with a bad attitude and a little grumpy and very tired.

Once the trading day started, I quickly put on a losing trade on Walgreens (WAG) that was put on way too early (almost once it opened).

I was thinking "Ahhhh what the hell...what a bad start"

But then the next couple of trades were also for losers....nothing big, but it was enough for me to think "Ahh...the hell with this....this really sucks...".

After starting the day with a couple of losers, my attitude just seemed to get worse and at some point I was thinking "Geez...what the hell man! This really sucks....I just want to get out of here".

I stuck around and attempted to make some quick money by trading some more, but my lack of patience didn't help and at some point during the day I just gave up thinking "What a stupid day....I can't take any more of this retardedness....I'm getting outta here" and so I left - even without taking lunch.

I got home feeling exhausted so I lay down for a bit and I actually fell asleep.

I woke up much more refreshed and I really looked back and thought to myself that if there was only one thing that really sucked today, it was my attitude and if there was only one thing that was retarded, it was the way I approached today's trading.

So I came in today with a bad attitude, traded with a bad attitude, and walked away with a bad attitude....

Oh well, not going to shed any tears about today - some days you've got it, and others you don't....and today I just wasn't in it, my mind wasn't in it, and my attitude just wasn't in it...

Good Trades
(trades in which I make $200 or more)
  • None

Bad Trades
(trades in which I lose $150 or more)
  • None



  • I hear ya. I wasn't in the mood today..had a disagreement with the wifey and that it bothered me to the point I missed the bottom on AAPL and then missed a Dummy entry on AAPL. All cause I couldn't let it go. So I had to watch the secret again and I squared away stuff with the wifey so that tomorrow can and will be a great day. As long as you fix it, you can make up for it.

    By Blogger Flatwallet, at March 26, 2007 6:52 p.m.  

  • Some days are just bad, from start to end. It needn't chalk up to much in the context of the bigger picture though, and tomorrow is a new day. All the best.

    By Anonymous Caravaggio, at March 26, 2007 8:40 p.m.  

  • Flatwallet, Caravaggio,
    Thanks for your comments. I just didn't feel like going in to trade...mentally and physically. Tomorrow I'll start fresh and I'll have my mind more focused.

    Good luck to both of you tomorrow and good trading!

    By Blogger J.C., at March 26, 2007 9:20 p.m.  

  • up $900 to date, not bad.

    By Anonymous Anonymous, at March 26, 2007 10:42 p.m.  

  • Cant stress how important great attitude is to trading--I ve yet to remember a good trading day when I was grouchy or not emotionally well. I can only remember really bad days with bigger than normal losses which in the end was " maybe I just shouldnt have traded today--but I wanted to make money-well, it wouldve been better JUST NOT TO LOSE MONEY"


    By Blogger gary, at March 27, 2007 10:20 p.m.  

  • Anon@10:42PM,
    Thanks for your comments. I guess it could be worse, but compared to other months, it could be improved. I've got a few more days left in March, so I'll see where I can take it.

    Thanks for your comments. Very well said...sometimes you can just feel it in your gut that it isn't going to be your day....and it usually isn't. I also just checked out your blogsite...seems interesting! I shall be following your blog from here on it! Best of luck with it!

    By Blogger J.C., at March 27, 2007 11:29 p.m.  

  • Hi JC
    I traded in the same style as you, scalping for a few cents profit, did nothing but lose money for a couple of years.I then switched to longer time frames, 15 min charts, and only entering on the correct set-up, tight stops, and disciplined trading. Fib numbers, stochastics and watching the tape, totally turned my trading around to 90% winning trades. I suffered big time until I changed my style of trading. Don't give up, do change your style of trading though. I only make a max of 3 trades a day, and I make more on one trade than I did on 20 trades trying to scalp.
    Check out the trade I made today on my blog. You are an honest man, and you will succeed!!

    By Anonymous Mr Doji, at March 29, 2007 12:23 p.m.  

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