Building Up Courage

Posted by Deb | Day Trading Journey | Tuesday 11 May 2010 10:24 am

I am slowly building up the courage to try trading again.  Last week I had a few times the urge to open the Transact and Sierra (my trading platform and the graphs software) but decided not to.

Yesterday I finally opened everything up, identified a few support and resistance lines, and sat there looking how the market is approaching a resistance line.  I thought about putting short there but then was too scared.  So I just sat and watched the market getting to the resistance line, jumping there for a few minutes up and down one pips, and then going back down.  With 2 contracts I could have made there $300.  Well, too bad.

I’ll open it up again later today.  I don’t know yet if I’ll trade or just watch again.  We’ll see.

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time off

Posted by Deb | Day Trading Journey | Thursday 6 May 2010 11:55 pm

To whoever was wondering, I decided to take some time off this futrues trading game.  It has been adding too much to the stress of my life, and I am sure the current financial stress I am going through is making me more stressful in trading and thus contributes to my losses. 

The diving down of the market in the last 2 days has made the decision a bit more difficult, as when the market dives down there are more opportunities to make some profit, but I decided against it.  With my luck, I probably would have lost anyway.  My mental health is more important now.

I will proably go back to trading some time next week or the week after.  Maybe I will first have a few days of playing on the demo, to build back my confidence.

So long for now!

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Another Bad Day

Posted by Deb | Day Trading Journey | Tuesday 4 May 2010 12:29 am

Today was another bad day.  I am not totally pissed off as I managed to reduce my losses from $350 to $250, but this is still a big loss.  I remember my first 10 days, when I would make about $150 each day, and I don’t know what happened.

I did all my regular mistakes:  I started trading when I really was not free enough to do so – my daughter has a birthday party tomorrow, and my son decided he wanted to cook supper himself which of course required my full attention.  And then I began too loose and checked out too early making a small loss instead of waiting a few more minutes and making profit, and then I was too scared too enter another winning position so I missed it.  But how long will I have to learn?   Will I learn how do this before I loose all my money?

The responsible thing would probably be to cash out the money I still have in my account (which is $1000 less than what I put in) and stop this.  But I don’t want too.   I am stubborn, I want to win this.  And I have this blog now, which I am enjoying.  And in any case, my financial state currently needs a miracle.

I hope tomorrow will be a better day.   Sorry about this bad post.

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The Blessed Weekend

Posted by Deb | Day Trading Journey | Sunday 2 May 2010 9:43 pm

I am so happy the futures market is closed on Saturday and Sunday, so I have to take some vacation from it.  Till recently, the days of marketing were so stressful for me!

Now it is begining to get easier, with less stress.   I also decided I will not let myself be caught in a position for too long.  It is just so stressful.  And as my teacher said, if I get out of a losing position in time, I have time to look for a winning one.  Though with my luck, I will get out of one losing position just to get into another losing one.

I looked yesterday a little bit into trading forums, and was so humbled.  I am such a starter, and just hope I will not have to close my account too quickly.  I hope so much that my persistence will pay in the end and that I will master this art.

Anyway, tomorrow will be stressful again.  I hope not too stressful.  I pray to have a short winning position tomorrow!  Wish me luck.

N.B.  BTW, I didn’t write about Friday.  Friday was an “even” day – I didn’t win, didn’t lose.  (I think I got a net of +$14).  I again checked out of a position too early, but I can’t blame myself:  The market was very jumpty when I was in this position, and I couldn’t rely on it to go in the right direction.  Of course, 15 minutes after I got out it moved in the exact direction it should have, but I was out and didn’t make the profit.

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