Another Terrible Day

Posted by Deb | Big Loss,Day Trading Journey | Thursday 17 June 2010 5:26 pm

Today I lost -$375 on 8 contracts. I begun with a fair position of 2 contracts in which I made $75. Then I begun to loose – I had one big bad position (of 5 contracts), and then a small loss with one more contract. When I was in the middle of that big contract I forgot their was supposed to be a financial report at 17:00, in which I shouldn’t have been in a position. But I forgot, and then my son called me at exactly 17:00 when the market was diving down and I was in the middle of a loosing long position. In my confusion I pressed buy instead of sell when I wanted to exit on one position, which of course made things worse.

Last time I lost -$1000 I also lost the next day, I think it then was about -$300. I think I have to make my self a rule that on the day after a big loss, especially a grand -$1000 loss (which I hope not to have again!), I must do it slowly, and quit after one position, whatever the result is.

I have to leave now to take my son, but later today I want to sit down and writer here my rules. And you, my readers, are invited to point out to me any violation. Please!

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