Thursday, January 10, 2008

A New Start

Okay, so today was my first day trading real money with my new company.

What I really need to do is give everyone some more background on how I started with this shop. I have a gigantic and dramatic pre-history with many of the people trading there, not all of it good. However, it has been a really long day, so I can't get into it now.

Anyway, I had a good day today... mostly. If I could only take back my trades in GGP I would have been very happy with my performance trading a volatile market with new software after such a hiatus. No mulligans in trading however. I lost $500 in the stock, mostly churning it every time it got up near $34 and failed.

Sickening to look back on it now. Why couldn't I just wait for a clean break? Instead, I'd buy at $34 and sell at $33.70. Remarkable...

My best trade of the day was in DSL.

I bought just before the spike at 3pm. It was forming a flag/pennant/triangle. Actually, maybe that's nothing, but I had a feeling if it traded over $27.65 that it was a buy. So I bought and caught a nice ride for close to a point.

Other than those trades, I had a lot of 100 and 200 share churn positions. I'm still getting accustomed to my new keystrokes and the feel of the market. True, I watched it for the last few weeks, but that's absolutely nothing like trading it.

The "chatters" (as I'll call my new chat room office friends) made huge money today.

I'm hoping this positive office experience will soon rub off on me. If the market stays this volatile, I'm confident it will.

Here's the stats:

P&L, $169
Best, DSL, $303
Worst, GGP, -$494

24,200 shares traded.
21 stocks traded, 12 winners, 9 losers.

1 comment:

Student_Of_The_Trade said...

Hey DT....I'm glad you are "back in the game". :-)

What are a few of the top reasons why you trade at a prop firm instead of on your own?