I forgot to explain what exactly I’m doing:

I am doing daily trading on the E-mini S&P 500.   Sometimes I also try the E-min Russel or Nasdaq.

Before I started trading, I took a course in day trading.  One of the tips our teacher gave us for succesful trading was discipline:  You must start out setting your rules, and stick to them.   Decide how many positions you can open per day, what’s the maximum loss you can take after which you quit for the day, what shall you do if the market turns against you, etc.

Well, I guess I am not disciplined any more.  Being a mommy with all the worries and stress that carries makes me give in to myself too much.

Today I fluked it.  My rule is 3 positions per day.  But I do not stick to the rules.

On my first 3 positions for today I earned $87.5.  Not bad for someone who has just lost $1,000.  But I was greedy and decided I need more.  Otherwise it will take me over a month in the best scenario to get back to my $5,000 starting point.  So I tried again, and the next position moved me up to $100.  Then I started loosing.  The next position took me back to $75.00.  The next back to $87.5.  Now I am in the same position I was 3 positions ago, but with the fees of 3 more position, so that my net profit is much less.

For your experienced traders out ther my numbers probably sound ridiculous, but for me, these are the sums I get.

Discipline, discipline, discipline!

Fear is my biggest enemy.  Sometimes it is useful, it makes me cautious.  But it also makes me loose so much!

When I enter a position and the market goes against me, I don’t want to loose and move away the stop loss (I know, I know, I shouldn’t be doing that! ).  That’s how I lost $1,000 the other day.

But when the market is hesitating, going up and down, that’s the problem.  I am almost sure the breakthrough is coming.  Soon the market will go my way, soon I will have a big profit.  But then I am afraid:  Maybe the market will go the other way?  Will I loose?

Then I hurry out of the position too early.  I earn one pips, two pips.  Maybe 4 or 5.   I cash my profit, sigh, and look back:  Oh!  Now I could have earned 6 pips.  10 pips!  12 pips!  But I am out already.  Too bad!  Arrrggghhhhhhhhhhh!!!

Hi there,

I am Deb.  A single mother trying to make ends meet, who decided to try her luck with futures trading.

It is already 3 months since I started trading.  I hoped to start this blog with a happy day, but yesterday I made my big loss of $1,000.  I hope this doesn’t mean I will have to end my trading (and the blog) too soon.

I opened my trading account on the last week of December, depositing $5000.  On the first 2 weeks of trading things went great.  Then I started loosing, but things still looked not bad.  At the end of the first 5 weeks I transfered back to my regular bank account $1,000.

On February things were gloomer.  I kept loosing, so that on the end of that month I lost about $1,000, which left me with only a little over $4,000 in my trading account

Till yesterday, March looked like the month of keeping things even.  I kept going 2 small steps forward, then one bigger step back:  I would be earning about $50 a day for two days, then on the third day I would loose $100.  Till yesterday.  As I said, I lost $1,000, which is my limit for one day so that my broker threw me out of my positions and locked me out for the day.

Yesterday I was in shock, but today I woke up more optimistic.  I won today $90.   What will be the results tomorrow?