Posted by Deb | Day Trading Journey | Thursday 18 November 2010 10:39 pm

This morning I felt my live trading yesterday was too stressful for me. I can’t take live trading right now, and should go back to the demo.

When I got back home in the afternoon and wanted to trade, I still felt I can’t handle live trading. Nontheless, I opened first the Sierra charts and took a look. I felt that if the indicators will be very definite I may do live trading anyway. No luck, or maybe a lot of luck, as that was the way I prefered it. The indicators were not definite, and my internet connection was bad. I closed the Transact and left the trading, deciding to try the demo later.

I opened the Transact about 2 hours later. Now I was finally able to get a good connection, but the indicators were still indefinite, and I really didn’t feel like trading live. I was happy to open the demo, and deliberately entered a risky position. It started losing very quickly, and I quit with a loss of -$37.5. Soon after I entered a better position and set the total back to $0.

Then I entered another position that looked promising, and I didn’t want to quit it too quickly. The profit was only one or two pips, so I waited for the market to go down further. No luck again. A few minutes later the market turned around and made my position a losing one. I thought it will probably go back soon, and uncautiously left the pc to go and prepare dinner. When I came back, the losses grew big. I decided not to quit, and let it run for about 2 hours. I wasn’t sitting near the pc all that time, and finally the connection was lost. Being on the simulator, that meant the position was lost too.

I left the Sierra charts on, thinking that possibly soon the indicators will be clearer, as it seemed the market will go down soon. Again I left the room, and when I came back the market had already dived down. The indicators showed it will go down more, so although I was very scared I opened the platform on live trading and entered a position.

That was scary! Suddenly the diving stopped and the market got stuck, going up and down a few pips. It even at some point went up more than a 2-3 pips, but I waited it out, getting scared and stressed out. Finally I quit, with a small profit of $37.5 over 3 contracts.

I was pretty sure the market will go down more, and I could make a much bigger profit, but I just wasn’t up to it. I was too stressed out, not yet ready for live trade. I opened the Sierra a few minutes ago and the market indeed had gone down more.

At least I didn’t lose. The net profit is about $13. Not much, but it is positive! I am a bit shaking, but glad I did it.


Live Trading

Posted by Deb | Day Trading Journey | Wednesday 17 November 2010 12:25 pm

This morning, while walking my dog, I felt I must trave live today. After yesterday’s futile trial and the profit I did make on the demo, I wanted to try.

I decided to trade immediately, although trading is very slot in the morning. I opened first the Sierra charts to decide if I should indeed go live, and the indicators showed an almost sure up direction of the market. So the decision was made: I opened the Transact on live mode and very quickly entered a position. The trade was so slow!

After a short wait I had a potential profit of $50, but I decided not to exit yet. I waited and waited, and finally added another contract. Of course, just then, the market when down. I decided to hold out, and waited. In the afternoon I am sure my position would have taken only a few minutes, but now everything was so slot. Finally I broke down and quit on one contract. Then again when nothing was moving I added a contract again. Finally after a very long wait I quit the position with a profit of $75 on 3 contracts.

With a little more patience I would have done more: I checked now and the market did go up more, as was very probably by the indicators. But I didn’t have the patience and nerves to wait more. I was too stressed as it was.

Will I trade live again tomorrow? I am really not sure. I will decide tomorrow. Tomorrow I have no time to trade on the morning, so it will have to be when the market is open and trade is much faster. I’ll see how my courage will be tomorrow.


In Honor of Prince William and Kate

Posted by Deb | Day Trading Journey | Tuesday 16 November 2010 11:13 pm

A beautiful marriage proposal:


A Bears Market

Posted by Deb | Day Trading Journey | Tuesday 16 November 2010 7:20 pm

Today the market is diving down. It started yesterday, and it still is.

When I opened the platform the S&P was at 1083. Then my internet connection went bad. I have to fix it one day! When my kids are playing with the Wii I can’t get the internet in my room and have to move to the living room. When I got to the living room it was already at 1080. I entered, and then of course the market went up. I decided again not to quit too early. I added another contract to “even out” and indeed the market went down again. Still I was now not sure of myself and quit early, with a small profit of $37.5 over 3 contracts. Then the market continued to go down and I entered again and again, and the total for today was $162.5 on 5 contracts.

Then I thought to myself: With such a market, why don’t I trade live? I quit the simulator and started the Transact again as live, but could not get a connection. I guess the volumes are now too high for my pc. After 3 tries I decided it is a sign for me to stop. I will trade live some other time. Too bad. The market has gone down already another 2 points, but without me.


The Good and The Bad

Posted by Deb | Day Trading Journey | Monday 15 November 2010 6:06 pm

The good is that I made a small profit today. The bad is that again it was not by the rules.

I again started trading when I really did not have any time – on the afternoon knowing I will soon have to drive my kids to their various activities. I went into a position knowing it was not the best, and had no time to wait. The indicators showed the market will probably go down, but till when I had to go out it did not go down. I moved the stop-loss up, again repeating the strategies that gave me a steady profit over 6 weeks but then led to big losses.

When I came back home the market was on its way down. I waited some more and finally it went down enough. I exited the position with a profit of $87.5. I added 2 more small positions and gained another $50.

If my account was big enough, I wouldn’t mind. But with the small account I have now, I should be practicing on the demo with positions I would be able to try also with my small account. What I did today with pulling back the stop loss is definitely not something I can do on “real life” trading.


Short Friday

Posted by Deb | Day Trading Journey | Saturday 13 November 2010 9:52 pm


Yesterday, on Friday, I didn’t really have time for trading. The Shabbat now starts early, not leaving me enough time to do much on Friday.

Yet I did want to try and fit in some trading. Since I am still doing it on the demo, I thought it is worth a try. I opened everything, and found a suitable resistance line. I put an order limit, and soon enough it caught. But the market ignored the resistance line and went up.

The was another resistance line close enough, so I put another short order there, and again it caught but the market continued up.

I had no patience, and no time, and the indicators seemed to show the market will go down soon, so I decided to wait. The market went up and up, and I added a third order, in an upper point. Again the market went up, but it seemed getting stuck ther. Had this been on live trade, with the size of my account now I couldn’t let this continue, but as it was on the demo I went on to my business around the house. I checked once or twice and saw it was still stuck there with the indicators indicating going down soon, and I went on.

Some time later, the market did go down. I checked and saw I was almost at no loss, so I went on preparing for the Shabbat. When I came back again the position turned into a winning one! First it was at $12.5, and not much later it was at $112.5!

I decided to be stubborn and wait till it got down to were my initial take-profit points were, but as it took more time and exited on one contract and had a $12.5 profit. The other 2 contracts were still winning, but not as much as I wanted.

I went on with my business, and some time later the position turned into loss again. When I last checked it was at -$37.5. As it was already almost Shabbat, I just turned off my platform and laptop (without even quitting the position – not really a good habbit, even if it was a demo!). I assume that had I had time I could have turned it back into a winning position, but as it was I had no time for it.

Moral of the story?

I don’t know. I guess many losing positions can turn back into winning ones when waiting long enough, especially when you add “averaging out” contracts as I have done. As my long-time readers know, I have made profit from such positions only a few months ago. But this is risky, and probably not a good habbit. When day-trading, it is better to cut the losses short and get into positions that become profitable shortly.


Another Small Profit

Posted by Deb | Day Trading Journey | Thursday 11 November 2010 6:32 pm

My first position today was plain stupid. I rushed into the position too quickly. When I opened my platform I told myself I should wait a few minutes before doing anything, but then I realized the market was approaching a resistant line and put a limit short order there without checking the indicators before. Only after my order caught and began to lose I took a better look and saw that the market was in a middle of a rise.

I got out of the position quickly, with a loss of $37.5, and waited a bit longer before entering the next position. This time I took the right direction, putting a long order. When it started to win I added a second contract. A few minutes later the market turned around and my position started to lose. I got a bit annoyed at myself, but the indicators still indicated my decision was right and that the market almost certainly will go up again. I waited patiently for a few more minutes and indeed the market changed directions again.

I quit the position, first with one contract and then the other. The total profit of this position was $125. Deducing the previous loss my net for today was $87.5 on 3 contracts.

My net for today isn’t much, but at least I am satisfied that I did what I am supposed to be learning: I cut my loss before it grew and entered a winning position which cancelled the loss.

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