Going On

Posted by Deb | Day Trading Journey | Friday 2 July 2010 5:56 pm

When I first opened my Transact platform today the connection was not good. Since I didn’t feel like moving my laptop to the living room to connect by cable I decided to wait till later. Luckily, when I opened it again sometime later the connection was good again.

I started my trade with a quick short position (short in direction and in time) on one contract, which gave me $50. This encouraged me and I looked for the next position. I entered my next position some time later, again as a short. There were a few close support and resistance lines so I put 2 contracts on two close lines. The first caught, and a few minutes later the second too. But then, instead of going down, the market continued going up.

With some hesitation I added a third contract on the next resistance line. It got caught, and in the next few minutes everything looked good – the market started going down and I hoped I will soon be able to be out of the position. But no, it went up again. As the potential loss began to grow, I decided that by my new restricting rules I have to get out of one contract before adding another in a higher point. I did that, making a loss of $112.5, and added one higher contract, so that I was again on 3 contracts, but with better positions in respect to the market. In the end, this loss made today’s profit less than it could have been (and the trading longer), but I am glad I did it – better a small loss than the risk of getting to a bigger one.

I had to wait patiently for another 15 minutes till the market went down again. Finally it did, and I made a profit of $100. Or actual $212.5, but subtracting the previous $112.5 it was $100.

Since I wanted today a net profit of more than $100, I got into one more position. It took 2 more contracts, but finally I got $162.5.

So, those are my adventures for today. Looking forward to a good week of trading next week!

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Going Slow

Posted by Deb | Day Trading Journey | Thursday 1 July 2010 8:59 pm

When I started trading today, I did it very carefully.  The market had gone down enourmously, and I had no idea if it will continue diving down, or go up, or stay around the point it got too.  I opened my platform at 16:00, and wanted to get some profit before the market opened at 16:30.  Also, there were a few financial reports scheduled at 17:00, so I really didn’t have much time.  By my rules I was allowed to enter a position only till 16:15, or in the small time slot after the possible big waves of official trade start at 16:30 will calm down and before 16:45, so that I will not be in a position at 17:00.

I entered on one contract at about 16:10, and exited after 6-7 minutes with a small profit of $37.5.  Now it was already too late to enter another position before the market opened.  I went on doing other things, and when the market officially opned it dived down very quickly.  Then my Transact platform started to freeze for minutes on time.  I moved my laptop to the other room, so that I can use it with a wired connection, as I know already my wireless connection is sometimes not strong enough for the Transact platform.  But this behaviour continued even with a wired connection.  Appearantly there was a big rush in the market, with lots of traffic, and the volume was too high for my internet connection.  Maybe I will have to get a stronger connection soon.

Anyway, it was time already to take my son out to his animation class, so I closed my computer and went out with him.  When I came back home more than an hour later, the trading traffic was better and my connection was good.  I was still too scared to go in with more than one contract.  I entered a position on one contract, and exited not too long later with another $37.5 profit.

As it is only 3 days after my “grand loss” of Monday, I decided that would be enough for today.

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