The Play.

Here I want to talk about my trading style. I have been trading on and off since 1998. You would think that after this long a smart guy like myself would have this figured out. The problem is that I don’t. My understanding of the market has grow a ton. My calls on the market have been fairly good. My problem comes in that I seem to be better at calling the market than doing the actual trading side of things. This is where the change needs to take place.

I have always played simple pullbacks in different market situations. The best being in Trends. As of late I have been doing good day trading the trade set ups that several blogers have been using – Trader Mike, Ugly Charts, Maoxim, and there could be others. They use a fairly simple system of playing off small range candles. Like everything in life simple does tend to work better than the complex. I think the trick that some of these other blogers has shown me over the past few years is that your trade strategy is one thing but what groups of stocks you put in on is the real kicker to how much one makes in this game.

The one thing I really want to understand better in doing this blog is my account information and how to better use it. This is going to be a big part of my trading log. Here are a few things that I’m thinking about tracking -

• 2 MA’s over closed trade balance – MA’s #’s 5 & 10??
• open account balance vs closed trade balance
• R growth vs % Growth – rip off from Ugly
• Histogram of R distributions – break down??
• Drawdown
• Overnight expose level
• Account vs Stop Trading Point – 5% quick drop

I puts these ? marks up in the rare chance that someone reads this and has any suggestion.