More Profit on the Demo

Posted by Deb | Day Trading Journey,Uncategorized | Friday 6 August 2010 5:05 pm

I had lots of work today, and finally got to trading at 16:45, 15 minutes after the market opened.  When I opened the charts I realized I had just missed a major fall, which could have given me a good opportunity to a big profit (or a big loss, of course).

Anyway, when I came in the market was going back up, and seemed like it will continue going up for a bit more.  After watching for about 10 minutes I decided to try getting into a long position.  That was a good move.  After less than 5 minutes I was out with $87.5 on 2 contracts.

I wanted to get a bigger profit, so I tried again with one contract.  At the first 2 minutes it seemed I was wrong, the market seemed to be going down again.  Soon it changed direction, and I went out after 3 ticks, giving me a total of $125 on 3 contracts for today.

Good.  I am feeling a bit reassured.  I am not yet ready for “real” trading, but my confidence is slowly returning.  Though I cannot allow myself any more losses, so it will be yet some time before I will pass from the simulator to live trading.


Have You Ever Written an eBook?

Posted by Deb | Uncategorized | Thursday 5 August 2010 10:58 pm

I plan to write one some day. When I will finally know how to consistantly make profits from day trading, and I’ll become rich, I will write an eBook to teach others how to do it too.  Than I will sell this eBook and have even more moeny. What will I do with all this money? I am sure I will find what to do with it. Some I will give to charity, some I will keep for my kids, and with the rest I will live well.  Those are my fantasies.

If you want to make things shorter and write your eBook now, or create your profitable video series, and make money, you should be checking the Info Prodigy.  The Info Prodigy is a course created by Tim Godfrey and Steve Clayton, two internet millionaires. I have taken once another internet course they have created, about living off virtual shops, and it was great. I have not become a millionaire – maybe I am too lazy, and probably I was not born to be an eMarketing. I am a very lousy marketer. But the course was excellent, and from other videos I saw it seems these two really know what they are doing.

In this course Tim & Steve teach how to find a good niche for crfeating your digital information products (eBooks or videos), how to do your research about it, how to write, and finally how to market it in the most successful way so that you can make a good profit.

I have not yet seen the actual course, it is not out yet, but I am sure it will be good.  If this sounds interesting, check out their sales page, in which you get a free report that explains their system.  It sounds promising.

(If you were wondering – yes, the above links are affilate links.  If you will become a millionaire out of this course, I am entitled to my little share, aren’t I?)


So What’s New?

Posted by Deb | Day Trading Journey | Thursday 5 August 2010 6:25 pm

I am still running away a bit from trading. This is good and bad. Good – because I need the time to cool off and come back to it with a new spirit. Bad – because I need to get back, I don’t want to run away till I forget all about this great opportunity to change my life. And anyway I need the money. I want to get back to trading without really relying on this money, at least not on the begining, since that makes me too greedy and desparate. I think I learnt my lesson: The first year of trading should be a practicing year, when you try to survive. Only later you can really make money. At least that seems true to me.

I force myself to trade on the simulator. Yesterday I again tried to trade early, but I really wasn’t concentrating on it at all. I put a limit order and then went to do other work. For some reason the Transact didn’t even signal, or at least I didn’t hear it. So only much later I remembered to check and found out I lost.

Today I was more conscious. I didn’t have any time to trade before the market opened, so I began trading only at about 17:30 (10:30 AM NY time). Although it was again the simulator, today I really cared. As I am still don’t have much confidence, I got out of all my positions much too early. Especially the last one, I see now the market is going up much more and I could have done another $100, or even more. As it was I made $125 on 6 contracts. Not very good, but for now I am concentrating on not losing.

As I wrote here, I ordered a book on trading psychology. I hope when the book arrives and I read it and find more insights I will feel more confident with the new knowledge I will gain.


Trading Early

Posted by Deb | Day Trading Journey | Tuesday 3 August 2010 2:28 pm

I want to take my children out this afternoon; I want to see the newley renovated Israel Museum. Since I don’t like trading late in the evening, when my kids are sure to be interfering too often, I decided to try and trade (or actually simulate-trade) early today. Early meaning around 14:00 Israel time, which is 7:00AM NY time.

It is much easier to do the simulated trading early. The trading is slower, and if you are doing live trade it may be very irritating. When simulating, it doesn’t really matter. The anxiety is gone.

Actually, although the trading is slow, I managed going in and out a position rather quickly: It took about 7 minutes. I entered with my “classic” posiiton: 2 contracts, first exit after 3 ticks, second after 6. All went smooth. I could have pulled the second exit a bit lower and get a bigger profit, but only of a tick or 2. This way I got $112.5. Good enough. If every day went like this, I would be happy and go back to actual trading very soon!


Working on Demo

Posted by Deb | Uncategorized | Tuesday 3 August 2010 12:02 am

Working on the demo hasn’t worked much for me today. I really don’t feel yet up to trading. I tried trading on the demo again, but with not much enthusiasm. I did mistakes without caring, lost some money (fortunately, not real money), and really didn’t bother to trade properly. I did cut the loss so as not to lose too much, but had I stayed in the position long enough I could have made a profit.

I know I should take it more seriously, but somehow after trading for real the demo seems not significant. I hope I will be ablt to take it more seriously in the next few days. I ordered myself a book about trading psychology, I hope it will help me to get back on track.

Meantime I am conentrating on finding myself other means of income. I hope I can find enough so that when I get back to real trading I will not be too pressed to make profit and cash money immediately. It will be better if I can give myself the time to grow my account till it is significant enough, and trade with not so much pressure.

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