A VERY BAD DAY

Posted by Deb | Day Trading Journey | Thursday 10 June 2010 6:35 pm

Yesterday I couldn’t believe my good luck. Well, today everything turned around. Statistics say that some days you have to lose, but today it seems I am doing all possible mistakes (I am not done yet for today).

When I got into a short position today with 2 contracts, as usual, the market went against me, so I added one more position as I always do, then another one, but the market just kept going up. The difference got already to minus 750, and I was afraid it will soon get to minus 1000 at which the broker would throw me out, so I got out of one contract (which made my balance at -$300), and waited for the market to get down back again. I finally managed to get out of the position in a low enough price so that my loss was down to -$187.5.

Then I went into a long position, as seemed sensible, but when the market didn’t immediately go up I got scared and jumped out of the position, at the same price I went in.

I should have quit at that point. But these last weeks of profit made my ego too high, so I entered again a short position, on one contract. So stupid. Then the market went up again, and I entered one more position, and one more. I didn’t let myself go up to 4 contracts this time, but I am sitting here watching the market going up for the last 75 minutes, and I don’t know what to do. I hope it will eventually get down, but have no idea if it will. I suppose it will, but who knows how much time it will take. Right now mu loss is jumping between -$275 and -$312.5, and that is on top of my original loss of -$187.5.

I didn’t take my kids out to a happening I promised them, the plumber who was supposed to come in has disappeared, and I am sitting here miserable.

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And again I did mistakes. The market finally got down, and I could have quit at $300, making me lose only the fee of about $50. But I wouldn’t. I wanted to quit with a profit. And then of course the market went up again. Finally I got out of one contract, making my loss up to -$237.5, and not knowing what to do with the other contract.

Now I got out of that too. My nominal loss is now -$137.5, with the fees of 8 contracts which are another $72.

And the market is going down again. Had I stayed, I could have quit with some profit. Stupid me.

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Well, I couldn’t let myself lose. I had too much of that not long ago. I entered one more position and finally got some profit for today. Today’s bottom line is +$125, with 10 contracts, which makes the actual profit for today $55. Much less than the last few days, but I am still on the plus size. Yay Me!

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