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Speccy diary

Discussion in 'Trading Diaries and Journals' started by Gringotts Bank, Apr 16, 2016.

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  1. Gringotts Bank

    Gringotts Bank

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    Paper trading. Using Mark Douglas' method for discretionary trading (my interpretation of it).

    NWH .19
    PLP .019
    AGO .023
    88EO .026
    PML .085
    PTX .115
    RDM .07
     
  2. Gringotts Bank

    Gringotts Bank

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    Sell PML .096

    btw, I'm not being too strict about entry/exits/liquidity because I just want to get a rough idea of the usefulness of this approach. Having said that, I won't sell if there's no liquidity available (say 5k worth).
     
  3. Gringotts Bank

    Gringotts Bank

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    Sell PTX .12
     
  4. Gringotts Bank

    Gringotts Bank

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    Fair chance AGO will pop back up from here.

    x.png
     
  5. Gringotts Bank

    Gringotts Bank

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    Sell PLP .021
    Sell RDM .073 (bad exit but still profit)

    Closed profits:

    13%, 4.3%, 4.3%, 10.5%

    Open flat/losers:

    0%, -15%, -15.4%
     
  6. skc

    skc Goldmember

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    *DJ Atlas Iron Chairman Says Miner Risks Administration If Debt Plan Not Approved

    From announcement yesterday...
     
  7. Gringotts Bank

    Gringotts Bank

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    PLP... hmm, bad timing. It just added 50%.

    AGO... might sell into any strength. Debt plan approval could see it run I assume?
     
  8. Gringotts Bank

    Gringotts Bank

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    sell NWH .19

    88E will trade down to .035 when it re-opens (CR). SHould move back up thereafter.
    AGO holding.
     
  9. Gringotts Bank

    Gringotts Bank

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    Sell 88EO .027
    Sell AGO .26
     
  10. Gringotts Bank

    Gringotts Bank

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    Conclusion:

    13%, 4.3%, 4.3%, 10.5%, 13%, 0%, 3% in one week.

    Two things -

    1) paper trading
    2) needs to be reproduced.
     
  11. Gringotts Bank

    Gringotts Bank

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    A 6.8% return on total capital employed is a lot more than I'd usually make in a week, so it's worth persisting. If I'd waited off 30 min on selling PLP the return would have been a lot higher.

    Some picks for the new week. Re-iterating that the method is basically to intuit accurately, using Douglas' approach. First step is to reproduce good paper profits.

    BAR, .052
    MOD, .033
    SYA, .06
    SEH, .074
    AGO, .023
     
  12. Gringotts Bank

    Gringotts Bank

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    Sell BAR .073 (I know, I know... but I was busy with real trading).
     
  13. skcots

    skcots

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    Can you give a brief outline of Mark Douglas' method?
    I have not read any of his books so am unfarmiliar with his style.
     
  14. Gringotts Bank

    Gringotts Bank

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    Mainly it's to do with your attitude. So it's either for those who trade pure discretionary or mixed systematic/discretionary.

    The idea is to either get 'in the zone', or do your best to remain balanced and calm whilst making decisions. Negative moods such as anxiety and anger have been scientifically proven to influence the quality of decision-making. That's a very rough overview.

    A few good videos on youtube, and of course his book - Trading in the Zone.
     
  15. Gringotts Bank

    Gringotts Bank

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    Sell SEH 10c.
    Sell AGO 23c

    Three closed trades: +35%, +40%, 0%
     
  16. Gringotts Bank

    Gringotts Bank

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    Not sure what happened there. High of the day was .072. I can't think what it was I was looking at.

    So, edited sell BAR at say .07.

    Anyone reading this or not?
     
  17. JJZ

    JJZ

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    I'm reading :xyxthumbs

    Was watching some of Mark Douglas's videos on the weekend, what he says seems to make a lot of sense to me....


    JJZ
     
  18. Gringotts Bank

    Gringotts Bank

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    Thanks JJZ.

    Sell MOD .036

    One open trade - Holding SYA.

    Four closed trades: +35%, +40%, 0%, 9%
     
  19. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Wow, nice going!:xyxthumbs
     
  20. Gringotts Bank

    Gringotts Bank

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    Cheers. Two very good weeks, but this is paper trading and there are heaps of people who can kill it when there's no skin in the game. If/when I go live with it, then I find out what Douglas referred to as 'the gap'. The gap is the difference in % return between paper and live trading, a true measure of the fear factor.
     
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