$200!

Posted by Deb | Day Trading Journey | Wednesday 19 May 2010 10:40 pm

Yes, today I made $200 on 4 contracts!  It’s been a long time since I’ve seen such figures.  I am sure that for experienced traders this is nothing, but for me – what a great feeling.

In the first 3 weeks I was trading, back on the end of January and the first weeks on February, I would be making these figures alot.  And then I began going down.  So now I am always afraid.  It’s been now straight 7 trading days of making profits with no loss.  I know I just have to keep myself, not to feel I am sure, be careful and not greedy, and then I can win.  But I am all the time afraid I will start loosing again.

The market was moving today very fast.  First I went in with one position, and the market went to the other direction.   I was sure it will get back, but it took so long that I decided to exit the minute I could, with only 1 pips ($12.5).   A few minutes later it moved in my direction and I could have made $200 immediately, but I don’t blame myself:  I really couldn’t have known, and it is better in such a case to exit, as otherwise it would have been pure gambling.

The second position I also had to exit quicly, as the market was moving fast back and forth.

The third position I was already sure about, as I have been watching the market for already half an hour and had a good guess what would happen.  I went in with a short, and when the market went up I added another short in a higher point.  And sure enough, the market went down and I got my profit.   Hurrayyy!

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A Busy Day

Posted by Deb | Day Trading Journey | Tuesday 18 May 2010 5:41 pm

I was not sure I would have time to trade today, as tonight is the Jewish holiday of Shavuot.  All the kids are home, and I had to prepare festive meals for the holiday and still have not cleaned the house, which really is a mess.  The custom is to eat milky dishes;  I baked cheese cake, we have good icecream, I made Pizza fingers (that’s a new recipy, I still have to see how this came out), and more.

Anyway, I stole now a few minutes between the cooking and the cleaning to trade.  As I was in a hurry, I checked out too early, as already usual for me.  But even with this it was not a bad day:  I got $112.5 with 3 contracts.  Not too bad.

I am not sure I will have any time to trade tomorrow.  On the holiday itself I do not trade, and when it ends it will be already 8:15 PM.  I am not sure I will have a chance to trade late at night.  I hope I do, as I really want to get on to my immediate goal of restoring my original account of $5,000.

Happy Holiday!

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A Good Day

Posted by Deb | Day Trading Journey | Monday 17 May 2010 5:47 pm

Today was a good day.  Not a breakthrough, but just good.  I took a look at the market in the morning and saw things were going very slow.  I live in Israel, so the actual “big” trading is done between 16:30-23:00 our time (That’s 4:30 PM to 11:00 PM for you Americans).  I decided to wait, although in the afternoon I have more distractions, as my kids are home.

I opened the trading platform again at 16:45, and things were much better.  The market was moving.  I had just missed a big diving of the market, but waiting not very long I entered with 2 contracts and got $87.5.  I decided to try again, as everything was so smooth, and 10 minutes later I entered with 2 more contracts, scaling up to $150.  I could have actually done better, but I was getting tired and did not want to spoil my day with stressful positions.  Probably a dumb move, as staying in that position a few more minutes would have gotten me up to $200, but what the heck.  It’s been a long time since I had a $150 profit, and today everything went smooth with not much stress, the market didn’t go against me and there were no kids knocking on my door when I am in the middle, so I am happy enough. 

Still a long way till I get back to my original account of $5000.  Only after I get back to that will I declare profits as true profits, but if things will continue this way I only have 3 more weeks to go.

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Mixed Day

Posted by Deb | Day Trading Journey | Friday 14 May 2010 4:58 pm

Today was… what shall I say? Mixed.  I did make profit, but less than I was hoping to.  The bottom line was $87.5 on 6 contracts, so the net profit is $46.  I am disappointed, but on the positive side, I had a whole week of profits.   Or actually 4 days of profit, since I did not trade on Monday.  Not a big profit, but I erased the loss I had on the begining of this month.

My first position was with 2 contracts.  The market was swingy, so I pulled out quickly making only $25.  In retrospect, I could have made more, but there really was no way to know in advance.

On the second and third positions I again had 2 contracts each, but on each I had to pull out to quickly.

Well, here’s to hoping next week will continue on this way of profit.  My son is again into having a long conversation of complaining about everything his life, so the few words I wrote here already took too long.  Hoping this too will be better next week.

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By the Book

Posted by Deb | Day Trading Journey | Thursday 13 May 2010 10:19 pm

Today was a good day.  No breakthrough, but things went smoothly,  everything going by the book.  I opened my trading software and graphs, identified the support and resistance lines and waited for the market to get to a sure line.  As usual for me lately I got a bit scared, wasn’t sure the market will stop there, but I decided to try anyway.  I put a limit order for 2 contracts and waited.  Of course, just when my order caught and I got into the position my daughter came in and wanted things.  I almost threw her out of the room!  I told her to wait.

The market struggled a little bit near the resistance line, but not too much so I did not get into any panic.  It didn’t go over more than 2 pips from it.  Then it got back.  I had put a mulitple bracket command so that I had my first exit after 3 pips.  The market went down and up forever and I almost gave up and moved to 2 pips, but decided to stick and out, and lo and behold it finally caught.  The second exit was after 6 pips, and this went quite fast.  I may have been able to move it and catch one or two more pips, but I was already feeling guilty about my daughter waiting for me so I quit at that point. 

Anyway, I got 9 pips ($112.5) in 2 contracts.  Just by the book!  If only every day could be so straightforward, I wouldn’t mind at all not catching any big move!

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Trading Again

Posted by Deb | Day Trading Journey | Wednesday 12 May 2010 9:35 pm

So today I already knew I will trade, and actually did it.  Again I closed my positions too early, so my profit wasn't very big, but at least I did trade and did make some profit.

The first position I entered with 2 contracts, but the market immediately went against me.  I was sure it will come back, the graphs looked quite sure, so I moved my stoploss far away and waited.  By the time it finally did get back and I was making some profit I had already to go out and fetch my daughter from school.  I didn't want to leave it open so I closed and went out.

When I came back I entered again with one contract.  The market was making its struggle for too long so I began playing minesweeper to kill the time, and in one minute of not paying attention my limit order was caught before I managed to move it further on, so I made again only a small profit.

I am still waiting for the day in which I will finally make a breakthrough and make a BIG profit.

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Back to Trade

Posted by Deb | Day Trading Journey | Tuesday 11 May 2010 11:04 pm

I finally did it! I did do some trading today.

No big success to report. I was still very cautious, or, let’s face it, scared. So I traded each time on one contract, playing with the support and resistance lines. The first 3 times I was so scared I withdrew after only one pips, only to see the market continuing in the direction I guessed, so I could have made a nice profit. The last time I finally waited a little longer, moving the stoploss and the profit point down till it finally caught after 6 pips. I probably could have gotten one or two more pips if I waited a little longer, but that was enough for me for today. At least I broke the ice and did some trading.

BTW, for those wondering:  One pips for the mini S&P is worth $12.5 .  Not much, but the total of 9 pips I did today were worth $112.5.  Than you have to subtract the fee for 4 contract (4 x $4.91) which gives a net profit of $84.86.

I hope I will not go again into the pattern I had before, of making small careful profits for a few days and then one big loss that erases everything again. Maybe tomorrow I will have enough courage to trade with 2 contracts.

Anyway, here are my sponsored links for today:

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