Archive for September, 2006

ScalpRate Version 2.1 Release

Sorry folks, I couldn’t help myself and have spent the past couple of days tweaking the spreadsheet. In part to fix some errors but mainly just to try and improve its usability.

Download it Here:

Here’s what I’ve changed:

1.) v2.0 was set so that you manually had to press F9 in order to get the cells to re-calculate. I reset this feature to Automatic
2.) I have tweaked a number of the cells in order to reduce the time it takes to perform the numerous calculations.
3.) I added Auto-Format features to all of the cells in the ‘Daily Results’ & ‘One Row Stats’ pages. I’m a very visual person and this helps me identify at a quick glance the areas of my trading that most urgently need attention (just look for Red & Yell0w)
4.) I added a G-B-OK Average column on the ‘Daily Results’ worksheet, I had inadvertently left it off.
5.) I added Auto-Sort buttons underneath the headers of all of the ‘Trade-Data’ & ‘One Row Stats’ worksheets. Now if you want to look at only the results of your Long trades or trades labeled “Bad”, you can do so with 1 click.
6.) Added input cells to account for the equity & futures commissions that your brokerage charges

Below are some screenshots, hope the changes help!

Jason
 
 

Trade-Data Worksheet


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Daily Results Worksheet


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One Row Stats Worksheet


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9-20-2006 Trading Results & Analysis


 
 
I had a break-even day today with my Trend plays making up for what I lost scalping. That being said, my biggest mistakes came from a couple of ill-advised trend plays that I entered. One of them is highlighted below. Bottom line though is that today I was not on my best behavior and was much more trigger happy than I usually am. I’ll have to be extra careful tomorrow and take care to sit on my hands more.

Review of the Day

The market warned me, but I plowed ahead anyways, & violated my rule (wait for close of 55-tick bar to enter) to boot!
 
 

ScalpRate Spreadsheet v2.0 Release

For all those who are interested, here’s Version 2.0! You can Download it Here or click the banner below.

In addition to the Help Files, there are 3 main worksheets to the spreadsheet:

Trade-Data: Where trades and relevant data are entered.
Daily Results: Where all relevant statistics are automatically calculated and displayed for quick viewing
One Row Stats: Same stats as in the Daily Results except they are all in one row. This makes daily, weekly, monthly comparisons possible and much easier than before.

See below for screenshots of entire workbook.

Trade-Data Worksheet


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Daily Results Worksheet


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One Row Stats Worksheet


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9-19-2006 Trading Results & Analysis

Daily Score: 1.00

Batting Average: 100.00%
Full Stop %: 00.00%
EpT: 0.00
 
 
What a drop this morning! It was hard to do, but I sat & I sat & I sat on my hands waiting for a good opportunity to pounce. I made my first trade at 11:44am, my second at 11:49am, and was done by Noon. I’ll be honest though, I did have my new ScalpRate2.0.xls Spreadsheet to keep my attention occupied while I was waiting so that made the time go by a LOT quicker. I have spent the rest of the afternoon putting the finishing touches on it, and will be releasing it tomorrow.

Just a quick heads up though. As I have put over 30 hours of work into this spreadsheet, it’ll only be available to download for free until probably the end of this week. After that I’ll likely be asking for a nominal fee for those who are interested (that is if I can figure out how to set up the “built in” shopping basket that Netfirms offers as I’ve never sold anything before as the last thing I want to become is a vendor).

Both of the trades that I entered were very similar, the first one was a Wolfe Wave setup just like the second, but I wussed out and only went for a 2-tick scalp with the first one. Below is the second..

Review of the Day

This was a beautiful looking Wolfe Wave setup and was pulling back right into that little minor untested area of supply at 726.50. I shorted at Point # 5 and was filled at 726.40. This time however, I was resolved to stay for more than 2 ticks. I tried so hard to let it run to my target of 725.20, but when it hit 725.40 and then reversed, I coverd my short at 725.70.

I’m just not experienced enough with this setup to know when it will and when it won’t reach the “Expected Target” (which is acquired by drawing a line through Points 1 & 4). And given how extended the run already was (even though it ended up dropping another 5 points afterwards) I rationalized that I ought to be conservative and take my profits.

It was all as well for the .87 R-Unit profit on the trade put me exactly at my Net Daily Goal for the day.

 
 

9-18-2006 Update

Don’t have much time this evening as I’ve been very busy working on an update to the my ScalpRate.xls spreadsheet since speaking to my sister (who’s a business consultant with Morgan Stanley). She gave me a number of great ideas that will drastically increase the functionality and utility of the spreadsheet and really make it possible to quantify and track any and all pertinent data to the utmost degree.

My results were so-so today. I started off down a few R-Units but got it all back with a Trend Short play at 1:00 PM EST. I finished the day at exactly $0.00. Now that doesn’t happen too often. But I have spent the past couple of days focusing my efforts on getting this spreadsheet updated. I’m eagerly awaiting the finished product myself as I’ll now be able to really hone in and see where my biggest mistakes are (By day, time of day, error, entry criteria, exit criteria, etc).

I’ll post more once I’m finished should be either tomorrow or Wednesday. Sorry such a short post today… but I’m late, gotta run!

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