Another “Spoon” Profit

Posted by Deb | Uncategorized | Tuesday 31 August 2010 10:45 pm

I had another small profit today. $50 on 2 contracts. Not much really.

On the first position I could have gotten more. I quit too early, with only $37.5. In the second I position I think quit just on the right time – just before the market turned around and potentially making my position a losing one.

I don’t mind having for now only spoon profits (see my last post if you do not know what I am speaking about). I only wish I could stay away from the bucket losses!

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Making Profit in Spoons, Losing in Buckets

Posted by Deb | Big Loss,Day Trading Journey,Politics | Tuesday 31 August 2010 8:38 am

Is that the exact quote? I am not sure. Anyway it conveys my situation, and as I understand the situation of many other beginning traders. When we make profit, we make it in small amounts, quiting our winning positions too quickly being afraid to lose the profit we have made so far. When in losing positions, we don’t want to quit and make the loss final. We hope the market will turn around and make the position profitable. We sit and wait and wait, till the loss becomes too unbearable, or till our broker locks us out.

Yesterday it happened to me on the demo. It wasn’t a good time for trading: I spent all day with my kids (school finally starts tomorrow. Hurray!). I came home at 20:45 with my two little ones, very tired after a day with many adventures. Found out my oldest had not yet taken out the dog, so I went out with her immediately. Than I had to fix up supper for the same boy, who couldn’t find himself anything to eat by himself before I came back. He came back home earlier straight from a birthday party where he had pizza and snacks, but that isn’t enough for an pre-adolscent 12-year-old.

When I finally got to open the trading platfrom it was about 21:30 (9:30 PM for you Americans). I was tired, and in the middle of making supper. I didn’t have time to sit near the pc, so the position exited without me with a not-so-bad loss ($75). When I came back and saw it I wanted to try again. I was tired, didn’t evaluate the situation correctly, and went in with a long position although it was already a down-day (what is refered to as a bears market).

The position made a little profit in the begining, but as it was the demo my limit order didn’t catch (in the demo they make your order the last in queue). Then the market turned down. I added more positions to this losing position (another big mistake), didn’t quit and let it lose and lose till it got to -$650.

When will I learn?

I haven’t put here any political film for a while. So here is one for today:


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A Nice Quicky

Posted by Deb | Day Trading Journey | Friday 27 August 2010 4:35 pm

Today all went well. Well, actually, when I first opened the platform it froze again, and I started thinking to myself: Oh no, more internet connection problems. But I closed it and opened again, and again, and on the third time all worked well.

I entered a position rather quickly, and went out in about 4 minutes. As always, I quit a bit to early, so I made only $75 over 2 contracts, instead of the $150 I could. That doesn’t matter right now, as I am just playing with it for now, trying to have as much success days as I can. I am not sure when exactly I will go back to live trade, but I assume it will be in another 2-3 weeks or something like that. Meantime I am working on getting myself other sources of income, as I had decided it is healthy for me right now to rely on trading as a source of income. I want to have the freedom to play with it for a while, without the pressure of having to make a living from it.

I am still reading the book I wrote about, “Mind Games”. I am not sure I agree with everything they say there, but I do enjoy this book. I hope to bring here more insights from this book in the next few days.

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Good Internet Connection Today

Posted by Deb | Day Trading Journey | Thursday 26 August 2010 5:05 pm

To my surprise and gratitude, today everything worked ok! I got my Transact platform up and running with no difficulties, got my Sierra charts up, had a quick trade, and all went all. I quit the position too early (no big surprise, ha?) but got $50 on 2 contracts, which is ok for now. As long as I have some profit, I am happy for now. I only want to see how I can profit, and do it quickly (I hope not to have too long positions). Today’s position took about 7 minutes.

My daughter wants me to take her to the mall now, and is making her wish very clear (she is 8 year old, and banging on the door), so I’ll have to make this short for today.

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Better Connection Today

Posted by Deb | Day Trading Journey | Wednesday 25 August 2010 10:11 pm

After my bad internet connections with the Transact trading platfrom I was worried I wouldn’t be able to trade today at all. When I started the Transact, I indeed had again these problems: After a few seconds of working the Transact freezed, with no movement. I was not sure if the problems were connected to my trying it on my laptop, with wireless connection. Luckily my children were not using their pc, which has a wired connection, so I went and tried trading there. The platform worked with no problem. I went back to my laptop, tried it again – and now it worked fine. I really don’t know what to think about it anymore.

I had a short trade, as usual quitting the positions too quickly. I didn’t make much – $50 on 4 contracts. At least the end sum was positive.

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Frustrated With Internet Connection

Posted by Deb | Day Trading Journey | Wednesday 25 August 2010 10:28 am

First, as you can see, I had changed my theme again. I know it is not a good practice to change themes so often, but I was not pleased with the other theme. It was nice, but didn’t leave me any place for ads, and I do want to put here some ads. This theme, which I had downloaded from the internet, is better in that sense, but it gives an overcrowded impression, so I will try to improve it. I already changed the size of font, as it was too small. I will try to do more changes in the near future, and I will appreciate any suggestions. If you have suggestions, please leave your comments below. My graphic design skills and tastes leave a lot to be improved, so don’t hesitate to give your remarks.

As you can see from the title of this post, I still have problems with my internet connection. Yesterday I had to open the trading platform a few times till I finally had a connection, and then after some time it freezed again, which made me lose on my position. Fortunately it was on the demo, so I didn’t lose any real money. My internet supplier support company (Netvision, which my Israeli readers probably know well) are very nice, trying to help, but it seems they have a clue. The support of my trading platform, Transact, are very unsupportive. Although I told them I have problems only with the trading platfrom, otherwise my internet connection works very well, the refuse to take any responsibility and just refer me to the internet supplier suppor. I may try to call them again, but I am really disappointed with their attitude.

My guess is that I have to change something in the parameters of my internet connection, or maybe something in the parameters of the Transact platform, but I have no idea what, and meantime trading is really difficult. If any of my readers here has some idea or experience with this, please send me a message at deb@futurestradeblog.com.

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Mind Games

Posted by Deb | Day Trading Journey,Futures Trading Tips | Tuesday 24 August 2010 12:27 am


Today I was not able to trade. I didn’t have time to try till the evening, and then I had again internet connection problems. I phoned the Transact support, and they told me to speak with my internet provider. The internet provider refered me back to Transact support. Finally they did some reset of my internet connection, but till that was finished the stock exchange was closed for the day, so only tomorrow I will find out if it really helped. Agghhhh!

I wrote here about a book I ordered, on trading psychology. I got it about a week ago, but since we were on vacation with the kids I didn’t have time to read it. Now I am finally reading it, and it is very interesting.

Mind Games

The name of the book is the title above – Mind Games, written in Hebrew by Zvika Bergman and Arnon Schachar.   Unfortunately, I don’t think it was translated into English.

I think I will give her in the next few days some of the insights I am getting from this book.  One interesting things the authors claim is that your chances to succeed in trading are only very partially dependant on your technical knowledge and trading systems.  They give it only 10% of the influence on your success.  30%  they see as dependant on your money management or risk management methods, and 60% on your psychology as a trader.

Actually, from my experience, I also feel that the psychology is the most important factor.  I don’t know if I would give only 10% to trading methods, but actually it is anyway very difficult to divide percents of success like that.

Another interesting thing they write is that in order to become a professional trader, you have to pass through 3 stages, each one takes about a year:

Stage 1: Survival for a long period of time

Stage 2: Growth of your capital

Stage 3: Making money

In the course I took on trading the teacher gave the impression that after a few months of working on the demo system, one can go straight to live trading as an expert.  But, as I found out, as the main part of trading is a matter of psychology, and trading on the demo cannot really give a true taste of trading psychology, it seems the apprenticeship period is much longer.

I hope give some more insights from this book in the next few days.

Trading for Living
For my readers who do not read Hebrew, I will give here also a recommendation for a book written in English about the subject of the psychology of trading, as I think psychology is a such crucial part of trading. The book Trading for a Living: Psychology, Trading Tactics, Money Management is a great book with very important advice about this subject.
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