Shared by
grove_under
Some additional detail on my TNA as well as SODA trades on my blog here:
I decided to give scalping a try on 8/16/2011 with the TNA. In order to try and minimize collateral damage (i.e. my account's P&L) I traded 100 shares at a time.
After 206 trades in a few hours, it was clear I was not properly equipped with neither the strategy, nor the proper use of the order entry tools. However, I'm sure TradeStation was very happy with the commissions they made off of me!
Perhaps next time, I should try these tests in the simulation mode, although it's just not the same.
I was able to use Tradervue to merge all 103 trade pairs (206 trades) into one journal entry. This new feature is very nice. Imagine trying to manage all these 103 trades in separate journal entries! And I admit, I deliberately used these particular bunch of trades to see if Tradervue can handle them...yes it can, it didn't even blink.
Here's the "entertaining" screen shot of all my trades via TradeStation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2011-08-16 11:11:22 | TNA | buy | $47.080 | long |
| 2011-08-16 11:12:18 | TNA | sell | $47.070 | 0 |
| 2011-08-16 11:14:32 | TNA | sell | $47.050 | short |
| 2011-08-16 11:14:53 | TNA | buy | $47.110 | 0 |
| 2011-08-16 11:15:01 | TNA | buy | $47.120 | long |
| 2011-08-16 11:16:56 | TNA | sell | $46.900 | 0 |
| 2011-08-16 11:17:04 | TNA | buy | $46.870 | long |
| 2011-08-16 11:18:13 | TNA | sell | $46.920 | 0 |
| 2011-08-16 11:19:24 | TNA | sell | $46.860 | short |
| 2011-08-16 11:20:15 | TNA | buy | $47.010 | 0 |
| 2011-08-16 11:20:48 | TNA | sell | $46.990 | short |
| 2011-08-16 11:22:21 | TNA | buy | $46.850 | 0 |
| 2011-08-16 11:24:01 | TNA | buy | $47.020 | long |
| 2011-08-16 11:24:54 | TNA | sell | $46.950 | 0 |
| 2011-08-16 11:24:59 | TNA | sell | $46.990 | short |
| 2011-08-16 11:25:07 | TNA | buy | $47.100 | 0 |
| 2011-08-16 11:25:09 | TNA | buy | $47.090 | long |
| 2011-08-16 11:25:39 | TNA | sell | $46.950 | 0 |
| 2011-08-16 11:25:44 | TNA | sell | $46.940 | short |
| 2011-08-16 11:26:34 | TNA | buy | $47.020 | 0 |
| 2011-08-16 11:27:18 | TNA | sell | $47.000 | short |
| 2011-08-16 11:29:36 | TNA | buy | $47.120 | 0 |
| 2011-08-16 11:30:43 | TNA | sell | $47.000 | short |
| 2011-08-16 11:34:01 | TNA | buy | $46.740 | 0 |
| 2011-08-16 11:34:28 | TNA | buy | $46.850 | long |
| 2011-08-16 11:34:54 | TNA | sell | $46.810 | 0 |
| 2011-08-16 11:35:09 | TNA | buy | $46.860 | long |
| 2011-08-16 11:37:50 | TNA | sell | $46.810 | 0 |
| 2011-08-16 11:37:59 | TNA | sell | $46.850 | short |
| 2011-08-16 11:39:30 | TNA | buy | $47.010 | 0 |
| 2011-08-16 11:39:44 | TNA | sell | $46.960 | short |
| 2011-08-16 11:42:28 | TNA | buy | $47.050 | 0 |
| 2011-08-16 11:42:41 | TNA | buy | $47.060 | long |
| 2011-08-16 11:44:12 | TNA | sell | $47.370 | 0 |
| 2011-08-16 11:44:29 | TNA | sell | $47.380 | short |
| 2011-08-16 11:45:01 | TNA | buy | $47.530 | 0 |
| 2011-08-16 11:45:04 | TNA | buy | $47.560 | long |
| 2011-08-16 11:45:28 | TNA | sell | $47.460 | 0 |
| 2011-08-16 11:45:39 | TNA | sell | $47.400 | short |
| 2011-08-16 11:46:34 | TNA | buy | $47.270 | 0 |
| 2011-08-16 11:46:59 | TNA | sell | $47.240 | short |
| 2011-08-16 11:48:06 | TNA | buy | $47.330 | 0 |
| 2011-08-16 11:48:07 | TNA | buy | $47.330 | long |
| 2011-08-16 11:51:15 | TNA | sell | $47.270 | 0 |
| 2011-08-16 11:51:15 | TNA | sell | $47.270 | short |
| 2011-08-16 11:53:46 | TNA | buy | $47.360 | 0 |
| 2011-08-16 11:53:47 | TNA | buy | $47.370 | long |
| 2011-08-16 11:55:39 | TNA | sell | $47.150 | 0 |
| 2011-08-16 11:55:54 | TNA | sell | $47.210 | short |
| 2011-08-16 11:56:04 | TNA | buy | $47.320 | 0 |
| 2011-08-16 11:56:16 | TNA | sell | $47.280 | short |
| 2011-08-16 11:57:08 | TNA | buy | $47.220 | 0 |
| 2011-08-16 11:57:23 | TNA | sell | $47.210 | short |
| 2011-08-16 11:58:07 | TNA | buy | $47.340 | 0 |
| 2011-08-16 11:58:10 | TNA | buy | $47.320 | long |
| 2011-08-16 12:05:04 | TNA | sell | $47.140 | 0 |
| 2011-08-16 12:06:04 | TNA | buy | $47.060 | long |
| 2011-08-16 12:06:10 | TNA | sell | $46.960 | 0 |
| 2011-08-16 12:06:29 | TNA | buy | $47.070 | long |
| 2011-08-16 12:08:45 | TNA | sell | $46.980 | 0 |
| 2011-08-16 12:10:34 | TNA | sell | $47.870 | short |
| 2011-08-16 12:11:52 | TNA | buy | $47.560 | 0 |
| 2011-08-16 12:12:13 | TNA | sell | $46.940 | short |
| 2011-08-16 12:12:17 | TNA | buy | $46.970 | 0 |
| 2011-08-16 12:12:40 | TNA | buy | $47.090 | long |
| 2011-08-16 12:12:51 | TNA | sell | $46.950 | 0 |
| 2011-08-16 12:13:21 | TNA | buy | $46.840 | long |
| 2011-08-16 12:14:29 | TNA | sell | $47.150 | 0 |
| 2011-08-16 12:14:36 | TNA | buy | $47.250 | long |
| 2011-08-16 12:14:38 | TNA | sell | $47.140 | 0 |
| 2011-08-16 12:14:59 | TNA | sell | $47.420 | short |
| 2011-08-16 12:15:04 | TNA | buy | $47.600 | 0 |
| 2011-08-16 12:15:07 | TNA | buy | $47.650 | long |
| 2011-08-16 12:15:21 | TNA | sell | $47.390 | 0 |
| 2011-08-16 12:15:28 | TNA | sell | $47.450 | short |
| 2011-08-16 12:15:46 | TNA | buy | $47.140 | 0 |
| 2011-08-16 12:17:10 | TNA | sell | $46.950 | short |
| 2011-08-16 12:17:16 | TNA | buy | $47.170 | 0 |
| 2011-08-16 12:17:20 | TNA | buy | $47.240 | long |
| 2011-08-16 12:17:26 | TNA | sell | $47.170 | 0 |
| 2011-08-16 12:17:31 | TNA | buy | $47.300 | long |
| 2011-08-16 12:18:11 | TNA | sell | $46.880 | 0 |
| 2011-08-16 12:18:21 | TNA | sell | $46.810 | short |
| 2011-08-16 12:18:24 | TNA | buy | $46.970 | 0 |
| 2011-08-16 12:18:35 | TNA | buy | $47.120 | long |
| 2011-08-16 12:18:53 | TNA | sell | $47.040 | 0 |
| 2011-08-16 12:19:15 | TNA | sell | $46.920 | short |
| 2011-08-16 12:19:34 | TNA | buy | $47.110 | 0 |
| 2011-08-16 12:19:49 | TNA | sell | $46.990 | short |
| 2011-08-16 12:29:33 | TNA | buy | $46.310 | 0 |
| 2011-08-16 12:30:53 | TNA | sell | $46.060 | short |
| 2011-08-16 12:31:36 | TNA | buy | $45.890 | 0 |
| 2011-08-16 12:31:53 | TNA | sell | $45.920 | short |
| 2011-08-16 12:32:26 | TNA | buy | $46.130 | 0 |
| 2011-08-16 12:32:52 | TNA | sell | $46.160 | short |
| 2011-08-16 12:34:15 | TNA | buy | $46.130 | 0 |
| 2011-08-16 12:34:31 | TNA | sell | $46.200 | short |
| 2011-08-16 12:35:42 | TNA | buy | $46.350 | 0 |
| 2011-08-16 12:35:45 | TNA | buy | $46.370 | long |
| 2011-08-16 12:38:50 | TNA | sell | $46.380 | 0 |
| 2011-08-16 12:38:51 | TNA | sell | $46.380 | short |
| 2011-08-16 12:41:06 | TNA | buy | $46.480 | 0 |
| 2011-08-16 12:41:26 | TNA | sell | $46.490 | short |
| 2011-08-16 12:49:04 | TNA | buy | $45.970 | 0 |
| 2011-08-16 12:49:26 | TNA | buy | $46.020 | long |
| 2011-08-16 12:49:55 | TNA | sell | $46.060 | 0 |
| 2011-08-16 12:50:17 | TNA | sell | $46.080 | short |
| 2011-08-16 12:50:36 | TNA | buy | $46.190 | 0 |
| 2011-08-16 12:51:14 | TNA | sell | $46.060 | short |
| 2011-08-16 12:53:18 | TNA | buy | $46.220 | 0 |
| 2011-08-16 12:53:33 | TNA | sell | $46.040 | short |
| 2011-08-16 12:55:18 | TNA | buy | $46.100 | 0 |
| 2011-08-16 12:55:20 | TNA | buy | $46.100 | long |
| 2011-08-16 12:56:07 | TNA | sell | $45.960 | 0 |
| 2011-08-16 12:56:13 | TNA | sell | $46.000 | short |
| 2011-08-16 13:03:15 | TNA | buy | $45.220 | 0 |
| 2011-08-16 13:03:48 | TNA | sell | $45.200 | short |
| 2011-08-16 13:04:32 | TNA | buy | $45.300 | 0 |
| 2011-08-16 13:05:13 | TNA | sell | $45.200 | short |
| 2011-08-16 13:05:47 | TNA | buy | $44.780 | 0 |
| 2011-08-16 13:06:14 | TNA | sell | $44.900 | short |
| 2011-08-16 13:06:51 | TNA | buy | $44.770 | 0 |
| 2011-08-16 13:07:20 | TNA | sell | $44.660 | short |
| 2011-08-16 13:08:03 | TNA | buy | $44.750 | 0 |
| 2011-08-16 13:08:51 | TNA | sell | $44.980 | short |
| 2011-08-16 13:09:39 | TNA | buy | $45.140 | 0 |
| 2011-08-16 13:10:26 | TNA | sell | $44.960 | short |
| 2011-08-16 13:11:20 | TNA | buy | $45.100 | 0 |
| 2011-08-16 13:11:30 | TNA | buy | $45.100 | long |
| 2011-08-16 13:13:23 | TNA | sell | $45.210 | 0 |
| 2011-08-16 13:13:35 | TNA | sell | $45.180 | short |
| 2011-08-16 13:14:53 | TNA | buy | $45.290 | 0 |
| 2011-08-16 13:15:22 | TNA | buy | $45.240 | long |
| 2011-08-16 13:16:14 | TNA | sell | $45.160 | 0 |
| 2011-08-16 13:16:16 | TNA | sell | $45.150 | short |
| 2011-08-16 13:16:54 | TNA | buy | $45.280 | 0 |
| 2011-08-16 13:16:59 | TNA | buy | $45.320 | long |
| 2011-08-16 13:18:53 | TNA | sell | $45.140 | 0 |
| 2011-08-16 13:18:54 | TNA | sell | $45.130 | short |
| 2011-08-16 13:22:48 | TNA | buy | $45.100 | 0 |
| 2011-08-16 13:23:08 | TNA | sell | $45.220 | short |
| 2011-08-16 13:24:34 | TNA | buy | $45.340 | 0 |
| 2011-08-16 13:24:39 | TNA | buy | $45.460 | long |
| 2011-08-16 13:25:32 | TNA | sell | $45.510 | 0 |
| 2011-08-16 13:25:33 | TNA | sell | $45.510 | short |
| 2011-08-16 13:32:11 | TNA | buy | $45.630 | 0 |
| 2011-08-16 13:32:26 | TNA | buy | $45.700 | long |
| 2011-08-16 13:33:10 | TNA | sell | $45.690 | 0 |
| 2011-08-16 13:33:12 | TNA | sell | $45.680 | short |
| 2011-08-16 13:33:31 | TNA | buy | $45.790 | 0 |
| 2011-08-16 13:34:14 | TNA | sell | $45.630 | short |
| 2011-08-16 13:35:28 | TNA | buy | $45.810 | 0 |
| 2011-08-16 13:35:30 | TNA | buy | $45.800 | long |
| 2011-08-16 13:37:19 | TNA | sell | $45.640 | 0 |
| 2011-08-16 13:38:47 | TNA | buy | $45.520 | long |
| 2011-08-16 13:42:51 | TNA | sell | $45.530 | 0 |
| 2011-08-16 13:42:52 | TNA | sell | $45.520 | short |
| 2011-08-16 13:47:24 | TNA | buy | $45.820 | 0 |
| 2011-08-16 13:48:11 | TNA | sell | $45.760 | short |
| 2011-08-16 13:49:02 | TNA | buy | $45.900 | 0 |
| 2011-08-16 13:49:18 | TNA | sell | $45.870 | short |
| 2011-08-16 13:51:11 | TNA | buy | $45.940 | 0 |
| 2011-08-16 13:53:01 | TNA | sell | $46.380 | short |
| 2011-08-16 13:54:05 | TNA | buy | $46.420 | 0 |
| 2011-08-16 13:54:15 | TNA | sell | $46.340 | short |
| 2011-08-16 13:59:28 | TNA | buy | $46.260 | 0 |
| 2011-08-16 13:59:29 | TNA | buy | $46.260 | long |
| 2011-08-16 13:59:35 | TNA | sell | $46.260 | 0 |
| 2011-08-16 13:59:47 | TNA | sell | $46.180 | short |
| 2011-08-16 14:03:10 | TNA | buy | $46.400 | 0 |
| 2011-08-16 14:03:49 | TNA | sell | $46.420 | short |
| 2011-08-16 14:04:00 | TNA | buy | $46.520 | 0 |
| 2011-08-16 14:04:06 | TNA | buy | $46.500 | long |
| 2011-08-16 14:04:57 | TNA | sell | $46.400 | 0 |
| 2011-08-16 14:05:22 | TNA | buy | $46.640 | long |
| 2011-08-16 14:17:56 | TNA | sell | $46.500 | 0 |
| 2011-08-16 14:18:06 | TNA | buy | $46.540 | long |
| 2011-08-16 14:18:37 | TNA | sell | $46.450 | 0 |
| 2011-08-16 14:18:49 | TNA | buy | $46.540 | long |
| 2011-08-16 14:23:20 | TNA | sell | $46.420 | 0 |
| 2011-08-16 14:23:28 | TNA | sell | $46.400 | short |
| 2011-08-16 15:06:14 | TNA | buy | $46.180 | 0 |
| 2011-08-16 15:11:17 | TNA | sell | $46.140 | short |
| 2011-08-16 15:11:50 | TNA | buy | $46.280 | 0 |
| 2011-08-16 15:12:28 | TNA | sell | $46.340 | short |
| 2011-08-16 15:17:21 | TNA | buy | $46.540 | 0 |
| 2011-08-16 15:17:35 | TNA | sell | $46.460 | short |
| 2011-08-16 15:19:07 | TNA | buy | $46.510 | 0 |
| 2011-08-16 15:19:08 | TNA | buy | $46.510 | long |
| 2011-08-16 15:21:43 | TNA | sell | $46.530 | 0 |
| 2011-08-16 15:21:44 | TNA | sell | $46.530 | short |
| 2011-08-16 15:24:36 | TNA | buy | $46.630 | 0 |
| 2011-08-16 15:25:25 | TNA | buy | $46.890 | long |
| 2011-08-16 15:33:40 | TNA | sell | $46.960 | 0 |
| 2011-08-16 15:33:48 | TNA | sell | $46.940 | short |
| 2011-08-16 15:34:42 | TNA | buy | $47.040 | 0 |
| 2011-08-16 15:35:07 | TNA | buy | $47.110 | long |
| 2011-08-16 15:37:44 | TNA | sell | $46.950 | 0 |
| 2011-08-16 15:38:05 | TNA | sell | $47.000 | short |
| 2011-08-16 15:42:09 | TNA | buy | $47.130 | 0 |
| 2011-08-16 15:42:09 | TNA | buy | $47.130 | long |
| 2011-08-16 15:45:23 | TNA | sell | $46.940 | 0 |
| 2011-08-16 15:45:50 | TNA | buy | $47.140 | long |
| 2011-08-16 15:46:34 | TNA | sell | $46.840 | 0 |
| 2011-08-16 15:46:43 | TNA | sell | $46.800 | short |
| 2011-08-16 15:58:24 | TNA | buy | $46.120 | 0 |
Comments
Jung
OMG!!!OMG!!!OMG!!!
Please don't take this the wrong way.
I can't stop laughing WTH is this!!! Do people really trade like this! 206 trades WHY?
grove_under
Jung:
Ha ha! I'm glad you see some humor in this, because I laugh (cringe?) every time I see this chart. And you are being kind, because I believe "WTF" is more appropriate.
I've heard of traders who are scalpers making hundreds of trades a day very profitably. It aligns with their personality -- as such they would likely fail or not be as successful as a swing trader.
After going through this exercise, one thing is clear -- I don't think I'll be scalping for a living!
Jung
Wow, I'm so not trying to be rude … Omg I just can't stop laughing whenever I see that pic. Going to be showing it to a few friends tomorrow lol…
I don't know, I guess to each their own, I just see that kind of trading as a one way ticket to a heart attack. Besides, wouldn't those kind of trades only be profitable with huge size?
Either way … I need my Heart .. lol
I just started reading trade-x blog tonight and it seems we trade in very similar manner and it seems you do too (your other trades are nice)… Gaps are Very Profitable for daytraders which I am - simply GRADUALLY increase your share size, stick with Gaps and save your Heart :)
gregr
IMHO, it is possible to scalp the crap out of things like this. However, I think you need to have a great feel for the tape in that particular stock on that particular day, and trade based on what you see happening there. Ideally, you might have a core position in the direction of the intraday trend, and trade around that from the tape...
That said, I'm no expert!
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Well, at least you ended well with a nice 0.68 gain on your last lot! :-)