Slower Today

Posted by Deb | Day Trading Journey | Wednesday 18 May 2011 9:48 am

The market was moving very slowly when opened the Transact platform today. I decided to enter anyway. For some reason, the connection closed on me while I was in a position – quite annoying. Thankfully, since I had my stop-limit in place and the movement was so slow I was not panicked. I just opened it again, and entered one more contract.

As trading was so slow, I finally quit with a small profit of $62.5 over the 2 contracts. I could have waited more, but wanted to go on already to my other daily chores. (I cannot focus much on something else while in a position).

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Live Again

Posted by Deb | Day Trading Journey | Tuesday 17 May 2011 10:31 am

True to my decisions of yesterday, I went today back to trading with the intention of being cautious, but more brave- taking bigger risks.

The market seemed to be going down soon, but the indicators were not as strong as they could have been. I decided to enter a short (down) position anyway and be prepared to add a contract or two in higher points if necessay.

I did that, adding one contract, than a second, and waiting. The market was slow, and I waited and prayed for this position to win, and finally was able to quit with a profit of $87.5 over 2 contracts.

I am sure that had I decided to wait more I could have made a bigger profit, but I decided that will be it for today. Possibly I will soon go back to expecting $100 per day.

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So, What’s the Best Strategy?

Posted by Deb | Day Trading Journey | Monday 16 May 2011 3:27 pm

Today I had a short trade, entered the going up market with one contract (on the simulator), and quiting 4 pips later with a small profit of $50.

Friday’s profit had made me rethinking my strategy in the last few months: Possibly, trying a very cautious trade is not the way to go. I should of course be careful in my trade, that is always true. But possibly even with my shrunken account I should try for a smaller profit. I had been trying to get my account back up to $2000 for over a month, just to get back down to $1400 in 2 days. 2 days like last Friday would have gotten me up to $2000 in no time! Maybe being too cautious does not pay. Maybe have to gather back my confidence and do more ambitious trading.

I really don’t know.

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Nice Profit for Today

Posted by Deb | Day Trading Journey | Friday 13 May 2011 12:43 pm

As you can see from the Transact screen above, I had today a nice profit, with a figure I hadn’t seen for a long while. Of course, it was all on the demo. Still, it is encouraging.

Trading today started bad: I had no patience. The market seemed to be going up, though with no strong indicators. I entered a long position, but of course just then the market turned down. I entered another contract, but finally gave up with a loss of $250.

Then I decided to go with the market and entered a short position. Guess what? Just then the market turned up again, making my first position, had I stayed in it, profitable. I decided not to give up yet, as it did seem that in the end the market will go down. I added one contract on the other, on higher positions, till finally the market did turn down and I made the profit in the image. Note: The $425 is the net profit, taking into account the original $250 loss, so that the total profit on this second position was actually $675!

I had 8 contracts on the second position, so the actual net is $425 over 11 contracts – about $350.

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Taking the Simulator Seriously

Posted by Deb | Day Trading Journey | Thursday 12 May 2011 11:12 pm

As I knew I was going to trade today on the simulator only, I started today’s trading not being serious enough. When I was getting ready to look for a right point to get in my younger son came over to look, and I entered a position with really no preparation, not realizing the charts have not yet downloaded all history. A minute later I realized my mistake and got out of this position with no loss or profit.

When everything was ready, I entered a second position, this time with 2 contracts. But then my second son needed my attention, and I didn’t pay any attention to the market till a few minutes later I was out of the position in my stop-loss point, with a loss of $75.

At this point I decided to get serious. I didn’t want to lose on the simulator! I waited till I had a good opporynity to enter, and thankfully was out some time later with a profit of $147.5, make it a net profit of $62.5. Then I decided I should get even with my previous loss, so I entered one more contract and took one tick, making my total profit for today $75 over 5 contracts.

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Trading on the Simulator

Posted by Deb | Day Trading Journey | Wednesday 11 May 2011 2:07 pm

Today I traded again on the simulator. So much easier! I wish I can live my life sometimes on a simulator, where the consequences don’t really matter.

Anyway, today was an easy trade. I got $75 on 2 contracts. With a bit more patience I could have done even more, but that was enough for me for today.

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PayDay Loans

Posted by Deb | Guest Post | Wednesday 11 May 2011 12:21 am

(A guest post)

Stocks Go Higher as Dollar Declines

There’s been a lot of bad news for people recently, with tsunamis in Japan and the United States gross domestic product (GDP) performing poorly last month. It’s hard for anyone to score a decent pay day, but apparently the slate of bad news does not seem to be affecting the stock market as much as Bernanke’s policies. Investors in the stock market are pushing the Dow Jones to fresh multi-year heights, despite all the bad news.

Dollar Declines

Where you see some of the real impact of the bad news is in the dropping value of the dollar. New jobless claims that rose and poor GDP performance has some people favoring other currencies versus the dollar. However, there is still some good news for people who are pinning their hopes on an economic recovery: March showed a 5.1 percent increase in pending home sales. For this sluggish economy that has seen the house market in the toilet for years, that’s very welcome news.

Companies Sitting on Cash Holdings

With stock prices going up, there are plenty of companies sitting on large reserves of cash that they can use now to spur economic growth. Even with the decline in the value of the dollar, once the economic engine is flushed with money, it will be only a little bit of time before more good news follows. While it can seem odd to have poor economic indicators ignored by stock market investors while the dollar declines in value, it’s probably because overall the economic picture for the United States is improving. Even with higher gas prices, more people are getting jobs, fewer people are in default of loans, and the stock market continues to be strong. Even the Japanese tsunami can have a silver lining for American car companies that will have a larger share of the worldwide market for small cars as Japan struggles to maintain production.

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