100%, TWICE TIMES

So today was another 100% day. I am finding the little movements and indicators that seem to produce success. I am trying not to deviate at all from those indicators. I'm still just trading the S&P, and I'm not seeing any reason to try something different at this point.

I also started filling out the documentation to begin live trading. Although I'm a couple of weeks out, I thought I'd start the paperwork.

I'm going to start by funding my account with $2000. I'll start the live trading very timid I'm sure, but I'm nonetheless excited to start.

Initial Expense - $550
Accl Monthly Cost - $250

Total Revenue (net) - $0

First 100% Winning Day!

So, I clearly understand that most days won't be 100% winning days, but today was. I feel like I've found at least a basis for a trading system, going through a simple 4-5 step checklist before making an order.

I also find that my reluctance to tell other people about the program is diminishing. Maybe it's because I've reached my goal of $200 everyday I've paper traded thus far, or maybe it's just because I'm a loud mouth and can't keep something to myself...either way, I have told close friends about what I'm doing, with a disclaimer of "I'm not recommending this by any stretch of the imagination". I'll need much more confidence in the program before I recommend it. It's one thing to lose my money, it's completely different to lose other's money.

Initial Investment $525
Accrued Monthly Expenses - $250

Total Revenue (net) - $0

Sep 23 - Fed Report

I traded this morning starting at 7:30 and just ended at 8:23. I had 26 winning trades and 4 loosing trades. I think trading was lower that usual because of the Fed's announcement of interest rates this afternoon. I'm going to try and watch the program this afternoon to see what it looks like in the case of a big market movement. This morning I stuck to my 1 minute and 5 minute charts, using the 5 minute for my pressure gauge and the 1 minute for the other indicators.

So far so good, although in the back of my mind I wonder what will be different once I start live trading...hopefully nothing, but to be honest, this all seems a little too easy, and making money is never this easy. So we'll see I guess.

Initial Investment - $525
Acc. Monthly Fee - $250

Total Revenue (net) - $0

First day of paper trading

So I've taken the last week and a half to learn the basics about the platform I'll be using (Ensign Software and MoneyCode) as well as market trading fundamentals. I'll be honest, I just wanted to start sim trading from day one. But I thought it would be best to learn as much as I could from videos and reading. But today was the first day I started paper trading (i.e. sim trading). So far, so good. It took a while to familiarize myself with the platform and to make sure I new what I was buying and selling. But after I figured that out, it wasn't too difficult. I made (in paper money) $500 today. I made 24 winning trades and 2 loosing trades. I set up stop loss at 6 ticks, and set my autoscalp at 2 ticks. I was trading at a higher rate (two ticks instead of one) than I will when I go live, but was told by Wally (my mentor) that I should do this as it would be a better representation of live trading.

So far here is what my ROI on this endeavor looks like:

Initial Cost - $525
Monthly Payment - $250

Trade Revenue (net) - $0

Take away thoughts - Honestly, it was a little easier than I thought it would be to learn the basics. I clearly understand I still have a lot to learn, but I was a little afraid that I would be overwhelmed by the technology and be discouraged to continue.

Purpose of this diary

So as I was researching, and contemplating whether or not to undertake day trading, I really thought it would be nice to read about what someone else went through as they began day trading. I never found such a reading. So I thought I'd start a blog whose design is to keep a journal of the activities, thoughts, and emotions related to my day trading experience.