Trader Tools - Trading Journal - Trading Account

Continuing with the series of articles talking about the different types of journals a trader must have, today it is about the Trading Account journal.
This is a very simple journal that has the following information:


  • Date - just as a reference
  • Gross P/L - This is the gross profit or loss of a give day
  • Net P/L - This is the Gross P/L minus the trading costs
  • Volume - Volume traded in a given day
  • Number of stocks traded - this is the number of stocks I traded during the trading day
  • Number of gross positive stocks - this is the number of stocks that I ended gross positive in a day
  • Best and Worst Stock - here I keep the best and worst stock I traded during the day
  • Ticket Average - The ticket average 
  • Number of trades
  • Number of positive trades 
  • Number of positive trades that had a gross profit greater than .10 cents (big winners)
  • Number of negative trades that had a gross profit smaller than .15 cents (big losers)
  • Morning ticket average
  • Mid-day ticket average
  • Closing ticket average
  • Liquidity Added - this was recently add cause I want to improve my adding liquidity skills
With the following information you can find patterns in your trading, for example:
  • Are you more profitable in the morning or the afternoon? If afternoon is the time you trade better, then your risk should be greater at this time of the day
  • Do you trade better if you trade a lot of stocks or if you trade just one or two?
  • Does your money come from big winners or a lot of small winners?

Read more »
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Trade Review - BMY - May, 22


Stock Selection Information


Benzinga's Top Upgrades
Citi upgrades Bristol-Myers Squibb (BMY) to Buy from Neutral and raises its price target to $55 from $33 saying the company's "very broad checkpoint agent [is] positioned to capture a very significant share of an emergent $24 billion checkpoint agent market." Citi also hikes its FY17 EPS forecast by 31%.




Watch List Reason - Upgraded from Neutral to Buy
Pre-Market Volume - under 3%
Trading Plan - To go long above 45.50

Management

Entry Setup used: Open drive flag pattern


Trading Comments

Tape reading helped on entry, were I identified a seller around 45.65. It lift price once, but fail to continue, so I closed position. Then it lifted again, but this time it did not fail. Also the 46.18 level is were sellers start to hold.
The re-entry level was 45.75. There was a big buyer spotted at that level in the tape.

Evaluation

It was a good trade, but I made a mistake on execution when I did not get out at 46.05. My order was ready, but I did not have my screen correct selected. When I hit enter, it did not send the order. Still I manage to get out at 45.96.
Also I must learn to get back in. After closing a successful trade, must fine the stop where I would get back in again. 
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Daily PM Prep - May, 22

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - The short-term range we talked about in the morning preparation was broken up, suggesting the continuation of the up movement. The target for this break was the projection of the range to the upside (reached today). Unfortunatelly the sellers came back strong at the 169.00 level, taking prices very fast down. This may be the presence of long term sellers at this level. Up move now is likely to continue if the 169.00 is broken and prices start to hold above that level. There are some a potential ranges forming at the following prices for short term reference:
1-) 169.00 || 167.75
2-) 169.00 || 166.50
Closing prices above 167.75 would be good for the buyers.
Long Term Bias: Bullish
Short Term Bias: Neutral 
Accuracy: 

PM Stock Selection Sheet download
Updated at 13:15

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk. 2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The afternoon sheet will be updated between 13:00 and 14:00
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Daily AM Prep - May, 22

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices.European markets are lower today with shares in France off the most. Be aware of the following:
  • 10:00 - Existing Home Sales  
  • 10:00 - Fed Chairman Bernanke Testifies
  • 14:00 - FOMC Meeting Minutes
Economic Calendar


SPY - On a long term prospective we are bullish until the channel is broken to the down side. There is a potential point of control at 163.75, that is also a support zone. On a shorter time frame a smaller range was formed. This range had an unfair high at 167.75 yesterday.  It tried to break above and fail, confirming the presence of sellers at this level. Since on a long term we are trending up, the most likely scenario is for the market to break up this short term range, but it is also possible for it to break down this range and test the base of the up channel. The neutral bias will change depending on which side the market breaks this short term range.

Long Term Bias: Bullish
Short Term Bias: Neutral
Accuracy: 100%

AM Stock Selection Sheet download
Updated at 8:00

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
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