Sorry for Disappearing

Posted by Deb | Day Trading Journey | Wednesday 10 November 2010 1:23 pm

I wasn’t trading yesterday and the day before. I just couldn’t find the time. Of course, a psychoanalysis would reveal I was a bit afraid of trading, but never mind.

Today I decided, just to be sure I will not use that excuse again, to trade on the morning. The NY market is closed in the morning hours here, so the trading is very slow, but I decided to trade while working on other things so I won’t be just wasting the time. (Of course that was also an excuse not to work too much on my other work – you see, I am a lazy person with a lot of excuses – but finally both were done).

Anyway, today I made $87.5 over 2 contracts. Not a big profit, but a good encouragement to trade more. This was again on the demo, so the profit is not real, but it is encouraging nontheless. I think I will take my time now before going back to live trade.

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Small Profit

Posted by Deb | Day Trading Journey | Friday 5 November 2010 4:09 pm

Today was another day of a small profit. Winter Friday’s are too short for me, as the Shabbat will be starting soon. I opened my platform just after the market jumped up with the PAD news. The market was up already, not going up anymore. I waited a while, and then when it started a downward correction I took a small profit of $50 over contracts. I imagine that if I would wait some more I can make some more, but as I said – no time now.

As always, I profit in small spoons, while losing in buckets.

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Doing all the Mistakes all Over Again

Posted by Deb | Day Trading Journey | Thursday 4 November 2010 6:46 pm

Today I feel I went back very much in all my resolutions and tactics.

Yesterday I didn’t have time to trade, so today I was very anxious to start. Although I have decided not to trade when the market just opened, as I don’t have enough time then, I did. I opened the platform when it was 9:30 Am in New York, and since I knew I had only 15 minutes before I had to go out and pick my son from school I jumped into trading very quickly. No-No no.1 is that you shouldn’t trade in the first 5-10 minutes after the market has opened, No-No no.2 is that you shouldn’t jump into trade too quickly. Actually, if this wasn’t so quickly after the market had opened it probably would have been okay, but as it was the market seemed to be going down but changed directions very quickly.

Now I got to No-No no. 3: I decided to move away the stop-loss. I did move it to a more rational place, but I should have been planning ahead before jumping into to the position, and judging if the risk is not too big. As it was, the market continued going up and close to my stop-loss.

Now it was already time to go out. I left the platform open, and when I came back I found my stop-loss had caught, with the fenomenal loss of $325.

Good thing it was on the demo!

Seriously, that’s the problem with the demo: I have less fear to lose. I have to learn to treat it as if it was the “real thing”.

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The Market isn’t Moving

Posted by Deb | Day Trading Journey | Tuesday 2 November 2010 7:05 pm

Today I found some quiet time in the afternoon, at 17:00, when my kids were busy doing their own business, so I decided to trade.

Unfortunately, the market was not moving. I mean it moved most of the time back and forth between about 3 pips.

I did get finally a profit of $50 over 2 contracts. Rather a poor profit, but it’s better than losing!

As the market is still not moving, and my kids already need me, I decided to stop for now. Possibly I will try again later today.


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Some Profit

Posted by Deb | Day Trading Journey | Monday 1 November 2010 11:20 pm

I again didn’t have much wish to trade today. Because of this, it wasn’t had to restrain myself today not to trade on my regular hours, just when the market is opening. On these hours trading is very quick, but as I usually have very limited time then I tend to do mistakes.

I traded only much later, towards the end of the market day, when my kids went already to sleep and I had more peace and quiet to trade.

I entered a long position with one contract. The market went up slowly, so at one point I decided to add another contract so I can realize my current profit without being too sorry for future possible profits. I exited the first contract with a $50 profit, and the second with additional $37.5 profit. So the total was $87.5 on 2 contracts.

The market continued to go up after I exited the second contract, but I had decided this was enough for today.

Oh – I forgot to mention: This was of course on the simulator. I am not back yet to live trading.

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