Saturday, April 08, 2006

GOALS APRIL 8 2006


I love pondering new goals to be met.

Goal 1- Get to 100k in IB simulator day trading GOOG(or other volatile stocks like AAPL).Figure out best strategies and avg P/L. Avg. P/L most be $200/day in order to coninue to Goal 2.
Question- What is Avg P/L since you've started Goal #1, and how many days has it been?
Question- Do you feel confident that you can trade GOOG live?
Question- What was your biggest losing trade in GOOG during this time and why?
Question- What was your biggest gainer in GOOG during this time and why?
Question- What trade setups do you like to trade on GOOG?
Question- What was your avg. holding period for a trade?
Question- What was your avg. profit/loss per trade?
Question- How many trades a day on avg. did you enter?
Question- What time of the day were you must profitable/least profitable?
Question- How many hours a day on avg. did you trade?
Question- What was the avg commission per day, month, year, and as a percentage of net profit/loss?
Question- What do you dislike about trading GOOG that you wish could be changed?
Question- What do you like about GOOG that makes it the best stock to trade?
Question- What would you trade if there was no GOOG or the stock split 3:1?
Question- What have you learned since trading GOOG?
Question- What is the most important signal for entering a trade and exiting?
Question- How do you determine where to place your stops?
Question- What is the best number of shares to trade GOOG on your trade setups?
Question- What trade setups do you use and why?
Question- What is the best time period to trade GOOG?
Question- What research do you do outside of live trading?
Question- What can help you trade better?
Question- What/who has helped you the most in your trading?
Question- What is effecting your trading positively/negatively?
Question- Where do you see yourself 1 year from now, 5 years?
Question- If your trading was compared to an hourly payed job, how much on avg. would you be getting paid per hour, 40hr, 1month, 1 year?
Question- What is it about trading that you like and dislike?
Question- How many hours a day on avg. do you spend researching the stock market? per week?
Question- If you had 1 million dollars, what would you do with it?
Question- What do you like about your life right now?


Goal 2- If you met Goal 1 and are continueing, it is time to fund your account with 26k. 25k is minimum, so the 1k extra is for leway.

Goal 3- The first 5k made stays in the account for trading GOOG. The next 5k can be used for swing trading index options, biotechs, and news/earnings/dividend plays.

Goal 4- Start your business. (Dividend tracker- a sight that gives you ideas to trade stocks that have dividends, blogger website making money of ads)

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