Blind Trading

Posted by Deb | Day Trading Journey | Thursday 31 March 2011 6:28 pm

Today I had to trade “on blind”. I didn’t have time to trade in the morning. In the afternoon, which is NY’s morning, the market is busy with a lot of volume and my connection was very bad. The Sierra charts and the Transact platform were moving each in its on speed, and with no coordination.

I saw the market was going down slowly. I entered a limit order in one point, where the market was supposed to be according to the Sierra charts, though the Transact showed the market in a different place. When the order caught the market went up a bit, so I entered a second contract in a higher point. Then I had to wait for the market to go down enough to get some profit. I had no way to know where exactly the market was, but I just waited, and a few minutes later I was out of the position with a profit of $50.

It was funny to see orders being caught by the trading platform although the platform was showing the trade in a different place. I am probably insane to try and trade in such conditions.

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The Disturbing Child Syndrome

Posted by Deb | Day Trading Journey | Wednesday 30 March 2011 1:32 pm




I wrote here on Friday about how I was stuck in a position for a long time, and just when the market was turning in my favor, everyone in my household needed me and I was not able to wait enough to collect the whole benefit of my waiting. The exact same time happened today.

I opened the trading platform in the morning, after delivering my 2 younger kids at school at walking the dog. My older son was at home, but I thought he will not disturb me for a while.

The market seemed to be in a good position to go down, so I entered on one contract. Unfortunately, the market didn’t go down, so I exited shortly after with one pips of profit. I waited some more, and then again tried a short position. That was foolish, as the market again started going up. I hoped it will turn back soon and entered one more contract on a higher position, and some time later another one. But still the market wasn’t going down. I waited and waited rather nervously, and then my son started needing me. At one point when the market wasn’t moving I positioned my limit orders in safe-enough places and left my laptop to go and help him with some work he needed to do. When I came back to the platform the market was just starting to go back down.

I sat there waiting, thinking I will pull down my limits if I see the market goind down strongly enough. Just then he came again, disturbing me with some question. The market was going down strongly but I wasn’t paying attention, and my too-close limits caught. I didn’t lose on this position, but with 3 contracts I could have done better. As it was, I got $62.5 on it, and with the previous short position this made for $75 on 4 contracts. Not bad, and a bit above my current day goal, but such a long position could have done better.

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Early Morning Trading

Posted by Deb | Day Trading Journey | Tuesday 29 March 2011 11:24 am

After having a good experience of an early trade last Friday, I decided to try that more.

Yesterday I managed to find a short time slot to trade in the morning, and exited with my $37.5 on one contract fairly quickly. Today I had to wait a bit more for a good opportunity, but managed to do it again: I first had again a short position on one contract which gave me $37.5, and then seeing the market was obviously going down some more I entered one more position which gave me another $25.

Yesterday’s trading got me to my first milestone of setting my account back to $1500. Now I am on my way to my second milestone of $2000, which I hope very much to achieve some time during April.

On another note: I realize many new readers here don’t see the whole picture, as they joined me on my journey only recently. I hope to add soon another page giving a short summary of my trading history. Look for it soon!

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That Was Close!

Posted by Deb | Day Trading Journey | Friday 25 March 2011 11:58 am

Today is the Jerusalem Marathon day: No school, my kids are home, everyone sleeping late…

I got up later than usual, but before the kids and the dog were up. After my usual waking up routine, including doing some cooking and laundry, I decided to take advantage of the quiet morning and do some early trading before everyone is up.

I opened the charts and platform, and everything seemed good: The market was very slow but still moving, and looked about to go down. I waited a bit – doing other things – and when I came back to the laptop the market was already on its way down. I quickly entered a short position and was sure I would be out in no time.

No luck. Just then the market got stuck on my entry point, and a few minutes later – started going up. I was sure it will quickly turn back down, so I added one more contract in a higher point, but again – no luck. The market went up.

I sat there in disbelief, not knowing what to do. I couldn’t risk losing my small profit of the last 2 weeks, but equally (or more) didn’t want to wait too long till the remaining of my account will be wiped off.

I waited and waited, praying for the market to go back down, and then BOOM! Everything was happening at once: The marketd turned back down, and my kids started getting up and hungry, and the dog got anxious to be walked out (I wouldn’t blame here – it was already almost 10AM).

With all this pressure I couldn’t wait much. I added one more contract and got out of the position quickly, with a small profit of $50 over 3 contracts.

Now I was left with a feeling of a miss: I could have used this turning down to a bigger profit. Had my account been bigger and ready for greater risks, I would have added 2 more contracts before the market dived down and collected a much bigger profit. That’s funny: Instead of celebrating the fact my account was not wiped out I am sorry for not making more.

I am almost up to my first milestone, of having my account back to $1500. It is now at $1491.7. I hope to reach my first milestone next week, and then on to my second milestone: $2000 by then end of April.

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Very Quick Trade

Posted by Deb | Day Trading Journey | Thursday 24 March 2011 5:43 pm

I was working out of home this morning, and when I came back at 3:15 PM I had a very short time till I had to go out again to fetch my boys from school. I decided to open the charts just to see how things are, and immediately saw there was an opportunity for a quick short position. I knew I didn’t have time, but then decided that just in case I will open the platform. The connection was not good, so I thought to trade later, but then could not resist the temptation.

Although the connection was not good, I entered a position that seemed very sure, on one contract. I went for a minute to the bathroom, and when I returned to my laptop the position was already out with a profit of $37.5. That was short!

I of course was tempted to try again, but as I already said here my main goal now should be to learn how to control myself, so I will not be gambling. A net profit of $30 is not much, but I should not be waiting for more till my account grows a bit, as for now I really cannot take any risks. So that’s it for today!

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Sitting on the Fence

Posted by Deb | Day Trading Journey | Wednesday 23 March 2011 2:44 pm

I opened the charts today quite early (9:30 AM), but I wasn’t sure what direction the market was going. I didn’t open the Transact platform, and went on doing other business. The market started going up, but at every point I was not sure if it going up anymore, so I didn’t go on. Finally the climbing up ended, and I felt sorry for myself. I didn’t watch the charts closely enough, doing other things at the same time, and I missed a steep climbing.

Then again I sat waiting for a point in which I would be sure the market was going down. At this point I was already too eager to trade and couldn’t concentrate on my other work. I wasted a lot of time till I finally decided it is time to take the risk.

I entered on one contract. Not long after I was able to collect a profit of $50. I debated with myself, but finally decided that after such a long wait I should try again, and soon had another $25 position on another contract.

At this point I decided to stop. As I said here yesterday, I want to be careful not to get into a gambling mood. I have to teach myself the right discipline.

Looking again at the charts a few minutes later I saw I could have collected a much higher profit, but never mind. $75 on two contracts is nice enough for me at this stage.

Tomorrow I will probably not have time to trade. I will be out in the morning, and on the afternoon the kids will be around, and internet connection more difficult. But I hope to have some chance.

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Short and Easy

Posted by Deb | Day Trading Journey | Tuesday 22 March 2011 11:19 am

I opened my Sierra chart today first thing in the morning – well, relatively speaking. It was already 9:30 AM (2:30 AM NY time). The market seemed to be approaching a sure down turn, so I waited patiently, and finally entered on one contract. The market continued to move rather slowly, but it was definitely moving. After a long 10-15 minutes wait (what later in the afternoon would have been only 2 minutes) I finally was able to quit with the small profit of $37.5.

I had an urge to wait a bit more and enter again another position, but I stopped myself. I don’t want it to become gambling, I don’t want to get addicted. For now, till my account gets a bit bigger, I should have small goals so I will not be risking too much. In the current rate I hope my account will be up to $2000 by the end of April, at which I will be able to move my expectations a bit higher, maybe to $50 a day till I get up to $3000. Once I achieve the $3000 (please G-d!) I will be able to be trading a bit more freely.

Anyway, those are my plans for now. I hope things will be going by this plan.

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