Back to Trade

Posted by Deb | Day Trading Journey | Tuesday 11 May 2010 11:04 pm

I finally did it! I did do some trading today.

No big success to report. I was still very cautious, or, let’s face it, scared. So I traded each time on one contract, playing with the support and resistance lines. The first 3 times I was so scared I withdrew after only one pips, only to see the market continuing in the direction I guessed, so I could have made a nice profit. The last time I finally waited a little longer, moving the stoploss and the profit point down till it finally caught after 6 pips. I probably could have gotten one or two more pips if I waited a little longer, but that was enough for me for today. At least I broke the ice and did some trading.

BTW, for those wondering:  One pips for the mini S&P is worth $12.5 .  Not much, but the total of 9 pips I did today were worth $112.5.  Than you have to subtract the fee for 4 contract (4 x $4.91) which gives a net profit of $84.86.

I hope I will not go again into the pattern I had before, of making small careful profits for a few days and then one big loss that erases everything again. Maybe tomorrow I will have enough courage to trade with 2 contracts.

Anyway, here are my sponsored links for today:

best rabbit hutches
Marine Radio

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