Profit & Loss log: Keep me honest

[frugal.rock]

Decided to start a thread as a log to keep myself honest and open to scrutiny and hopefully, suggestions are contributed along the journey..
Probably only about 10% along in the trading knowledge journey but that could be an overestimate. Won't know until I know if I ever know.
Will rant with my own musings occasionally... maybe alot...

So first cab,
SIG loss $50 18/12/19
SIG profit $210 19/12/19
Yesterday should have been a profit.
I blame the day job again... there's an issue for me to sort. Could have sold at open. Am considering making that a trade rule for day trades that get offset a day as every time I don't, tend to lose out. Either less profit, or a complete loss.
Need to reconsider the high risk nature of day trades with money I don't have...
ohhh but it's so tempting!

 

[Trav.]

@frugal.rock maybe you could outline your system / thought process in your decision making for each trade, pretty much like a trading diary as I think that this will help keep you honest since you have decided to air your dirty laundry on ASF.

I would hope that some of the more experienced traders can ask some probing questions for you to develop your skill based on the information provided.

Good luck and I will enjoy the one liners.

 

[frugal.rock]

Thanks Trav.

So, the system is more a thought process rather than a formal written process, using common indications such as past and recent trading ranges, volume, momentum, visible depth/order sizing against actual occuring, sectors/indices, international markets to a lesser extent. I have to be satisfied with the company fundamentals and form a picture of where there at as a company first as a basis for considering trading it.

 

[frugal.rock]

So, am looking to formalise the process into a checklist to prompt myself to cover all bases. Would like to work out an indicator weighting system and formalise also in a spreadsheet.
OPY Profit $65 20/12/19
Z1P Profit $50 16/12/19
PNI Profit. $288 17/12/19
Week to date. Profit net 563.
15 trades, brokerage 280. (got one free after complaint made)
Great margin for the broker at 19.95 per trade...
Fees are eating potential profit now that I see it written...der.
Need to change brokers.