By the Book

Posted by Deb | Day Trading Journey | Thursday 13 May 2010 10:19 pm

Today was a good day.  No breakthrough, but things went smoothly,  everything going by the book.  I opened my trading software and graphs, identified the support and resistance lines and waited for the market to get to a sure line.  As usual for me lately I got a bit scared, wasn’t sure the market will stop there, but I decided to try anyway.  I put a limit order for 2 contracts and waited.  Of course, just when my order caught and I got into the position my daughter came in and wanted things.  I almost threw her out of the room!  I told her to wait.

The market struggled a little bit near the resistance line, but not too much so I did not get into any panic.  It didn’t go over more than 2 pips from it.  Then it got back.  I had put a mulitple bracket command so that I had my first exit after 3 pips.  The market went down and up forever and I almost gave up and moved to 2 pips, but decided to stick and out, and lo and behold it finally caught.  The second exit was after 6 pips, and this went quite fast.  I may have been able to move it and catch one or two more pips, but I was already feeling guilty about my daughter waiting for me so I quit at that point. 

Anyway, I got 9 pips ($112.5) in 2 contracts.  Just by the book!  If only every day could be so straightforward, I wouldn’t mind at all not catching any big move!

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2 Comments »

  1. Comment by PellPlaypesew — May 20, 2010 @ 6:46 pm

    Just want to say what a great blog you got here!
    I’ve been around for quite a lot of time, but finally decided to show my appreciation of your work!

    Thumbs up, and keep it going!

    Cheers
    Christian, Satellite Direct Tv

  2. Comment by Deb — May 21, 2010 @ 10:39 am

    Thanks! It’s good to know someone is reading what I am saying here. Although writing the blog is good for me anyway (trading without having someone to share with the good and the bad get lonely), I am happy to see others are reading.

    BTW, I had a look at your site – can you get with your software all the Israeli cable channels? (I saw Israel is on your list). If so, I should be thinking of cancelling my cables once my commitment period is over!

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