2006 October 02 | WilyTrader.com – Stock Picks

Archive for October 2nd, 2006

ScalpRate Version 2.2 Available for Download

October 2nd, 2006

Jason

Cost: $49.95

100% Satisfaction Guarantee:
If you find for whatever reason that the the spreadsheet does not suit your trading needs, simply let me know and I’ll refund 100% of my net proceeds.

I have finally completed the final enhancements to my ScalpRate Spreadsheet. I have eliminated all circular references which should get rid of any of the error messages some of you have reported getting. I have also updated the Help files to guide the first-time user how to input trades and view the daily stats.

The cost of the spreadsheet is $49.95. Purchase of any version of the ScalpRate Spreadsheet will entitle purchaser to all future updates for free.

For those of you who are new to the blog; ScalpRate.xls is the spreadsheet that I created to track and analyze all of my equities & futures trades. Additional info & Screenshots can be Accessed Here.

Using this spreadsheet to track and analyze every single one of my trades has improved my trading results more than any other factor. All calculations are done automatically and I have recently added color-formatting to the cells so that you can easily spot which areas of your trading are costing you the most money so you can have the knowledge necessary to take the appropriate corrective action.

As always, feel free to Contact Me Here and let me know what you enhancements you would like to see in future releases. Hope it helps,

~WilyTrader

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10-2-2006 Trading Results & Analysis

October 2nd, 2006

Jason

I had another solid day today, netting a total of .77 R-Units. Didn’t quite hit my target, but I do feel as if I was more comfortable with my trading today than I was at the beginning of last week. Something I started doing more of today is letting half of my position go immediately when price enters a range or if price looks like its going to reverse but I can’t bring myself to letting go of all of it.

This single adjustment really did a lot for me psychologically. Even if I took a loss on that 1/2, the burden of having to bear a full stop was now lifted and found myself trading with a much more objective state of mind with the second 1/2. The result is that I had a lot more small losses and break-even trades today than I ever have before, but I also had the smallest Full Stop % that I have had in a long time…I very nice tradeoff I think.

Review of the Day

Just a quick little scalpe-example today. Normally I go for 2-ticks with my scalps, but on occaision I’ll push it just a little more if I think I can get away with it; This was one of those times. The 610-tick chart was in a fairly tight range and prices had been acting pretty whippy. That was what was happening prior to the setup.

So when I saw the TXD- setup forming after a nice little up-move for a choppy environment, I checked to see how far away the rising trendline was and went short. Price fell immediately giving me a very quick 4-tick profit…Not bad for a few seconds’ work.