Fickle Trader: An argument for trading many small positions

Via Fickle Trader: An argument for trading many small positions Quoting Mark Douglas’s book “Trading in the Zone”: The numerous effects that follow a loss of confidence caused by equity drawdowns are the most common cause of trading failure.

Game plan

This is the plan and process for end of week:
1. Collate all ideas generated by the scans over the past the week
2. Enter all ideas into Excel and mark their Status (L)
3. Review old and new ideas and triggers and revise status (L, T, O, CL, S, M*) and trigger or P&L as appropriate.
4. Review […]

Determination

Determination, persistence, perseverance are key. Without these attributes you can forget about trading. It’s never going to be easy or quick, it’s just the nature of the game.
I have the determination, I have the stamina and strong desire to do whatever it takes to make this quest successful.
From Innerworth daily piece of advice:

Jul 16, 2005
Minimizing […]

Forget

Forget about testing the exit with stockfetcher. Use qualitative, eye-balling techniques for determining BOTH ENTRY AND EXITS. Use the StockFetcher purely for what it was designed - the generate trade ideas. The new S&P SmallCap 600 scan seems to work quite nicely, particularily using weekly charts.

Current setup

My current setup includes:
Trial version of QCharts - I’ll probably cancel this and move to Ensign though since I only need historical data 99% of the time.
StockFetcher.com - a very good scanning tool for EOD based on a very wide range of parameters and studies.
IB - My preferred broker for low cost and good executions

Advancing

I am advancing in my quest of trading. Or at least I think so. I’m slowly starting to come to terms with the duality of my life, living in between the “real world” of daily job and a totally different focus for about 10 hours a day every weekday and the “trading world” and what […]

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