Another Success on the Demo

Posted by Deb | Day Trading Journey | Tuesday 19 July 2011 6:18 pm

I opened the platform today and found the market had gone up today, but looked as if it would soon go down. It went already over the R1 line, which often means it would not be wise to try a short position, but I decided that I could risk a short short position.

I went in with one contract, and then when the market went up a little added one more contract. I was soon able to quit on the first contract. I didn’t want to quit too quickly on the second contract, but was also afraid to wait too long. I decided to solve this dilemma in the usual way: I added one more contract so that I will not have to wait too long for a bigger profit. Later I added one more contract, and was finally able to quit with a profit of $167.5 over 4 contracts.

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After this trade was finished, as the market seemed to still be going down, I decided to take a risk and do a live trade. I was very hesistant and scared, but I finally did it. I entered with one contrace, and then the market went up a bit. I added one more, and the market went up more. On the demo I would have added one more, but on live I was too afraid. I waited, and finally quit too early with a small profit of $50 over the 2 contracts.

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