Investing & Day Trading Education:  Day Trading Academy

Day Trading Recap 09/30/11

Today is one of those days that I live for.  It doesn’t happen often but when you have 100% winners it really makes you feel good.  I still remember the day when I first started day trading that I decided to stop losing money and actually get on the ball.  It was a Sunday around 5.05pm to be exact.  I was back testing charts when I reviewed my logs and realized that I was making the same mistake over and over.  Sound familiar?

I decided, at that moment, that I would stop losing the student loan money that I took out that I honestly couldn’t afford to pay back.  I sat back in my chair and I said to myself, “You’re a pretty smart guy there is no reason you can’t do this”.  That week I had 96.7% winners.  I remember talking to myself while trading and it seemed like the market would just listen, I was on a completely different level.

That is really what happens when you get in the zone

While the 97% winners didn’t last, it was the turning point of my day trading career.  I now am able to travel around the world on just a weeks worth of work when I day trade.  I do day trade more than that but only because I like it, not because I have to.

Click on chart to enlarge

Tradestation Charts Sep 30th

Tradestation Charts Sep 30th

All the trades today were honestly picture perfect trades.  The only difference is the management between the trades.  I was almost out with 2 pts on T1 because I wasn’t able to move my 2pt target fast enough.  Luckily as soon as I cancelled the target the market tanked and I just looked for a typical consolidation.  Looking back, I could have held to 1138 but why be greedy?  T2 was following the downward momentum and I always exit religiously at 2 pts or at the first area when I take these types of trades.

T3 & T4 were excellent trades as well.  There aren’t any reasons why you shouldn’t have taken those trades.  Market was moving very nice so I adjusted my targets to coincide with the major areas.  I split the targets on T4 anticipating a big run up, you can see that I decided to exit at exactly the right moment otherwise the 2nd target would have been a small win.

Okay I lied, T5 isn’t a picture perfect trade when it comes to my trading guidelines but it is a perfect trade if you consider the market environment that we had here.  With great runs and retracements, the market could have easily sky rocketed up.  Notice I was happy with my two points.  When you finish trading at 10.40am with just under 14 pts you have to walk away, not to mention I am in the beautiful city of Livingston, Zambia (click here to see my day trading office here).

Day-Trading Results Sep 30th

Day-Trading Results Sep 30th

Day Trading Results: Sep 30th

  • Total of 5 trades (total trades on chart is incorrect)
    • All 7 are winners
    • No mistakes today
Click here to see the complete list of Market Recaps

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