That Was Close!

Posted by Deb | Day Trading Journey | Friday 25 March 2011 11:58 am

Today is the Jerusalem Marathon day: No school, my kids are home, everyone sleeping late…

I got up later than usual, but before the kids and the dog were up. After my usual waking up routine, including doing some cooking and laundry, I decided to take advantage of the quiet morning and do some early trading before everyone is up.

I opened the charts and platform, and everything seemed good: The market was very slow but still moving, and looked about to go down. I waited a bit – doing other things – and when I came back to the laptop the market was already on its way down. I quickly entered a short position and was sure I would be out in no time.

No luck. Just then the market got stuck on my entry point, and a few minutes later – started going up. I was sure it will quickly turn back down, so I added one more contract in a higher point, but again – no luck. The market went up.

I sat there in disbelief, not knowing what to do. I couldn’t risk losing my small profit of the last 2 weeks, but equally (or more) didn’t want to wait too long till the remaining of my account will be wiped off.

I waited and waited, praying for the market to go back down, and then BOOM! Everything was happening at once: The marketd turned back down, and my kids started getting up and hungry, and the dog got anxious to be walked out (I wouldn’t blame here – it was already almost 10AM).

With all this pressure I couldn’t wait much. I added one more contract and got out of the position quickly, with a small profit of $50 over 3 contracts.

Now I was left with a feeling of a miss: I could have used this turning down to a bigger profit. Had my account been bigger and ready for greater risks, I would have added 2 more contracts before the market dived down and collected a much bigger profit. That’s funny: Instead of celebrating the fact my account was not wiped out I am sorry for not making more.

I am almost up to my first milestone, of having my account back to $1500. It is now at $1491.7. I hope to reach my first milestone next week, and then on to my second milestone: $2000 by then end of April.

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Very Quick Trade

Posted by Deb | Day Trading Journey | Thursday 24 March 2011 5:43 pm

I was working out of home this morning, and when I came back at 3:15 PM I had a very short time till I had to go out again to fetch my boys from school. I decided to open the charts just to see how things are, and immediately saw there was an opportunity for a quick short position. I knew I didn’t have time, but then decided that just in case I will open the platform. The connection was not good, so I thought to trade later, but then could not resist the temptation.

Although the connection was not good, I entered a position that seemed very sure, on one contract. I went for a minute to the bathroom, and when I returned to my laptop the position was already out with a profit of $37.5. That was short!

I of course was tempted to try again, but as I already said here my main goal now should be to learn how to control myself, so I will not be gambling. A net profit of $30 is not much, but I should not be waiting for more till my account grows a bit, as for now I really cannot take any risks. So that’s it for today!

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Sitting on the Fence

Posted by Deb | Day Trading Journey | Wednesday 23 March 2011 2:44 pm

I opened the charts today quite early (9:30 AM), but I wasn’t sure what direction the market was going. I didn’t open the Transact platform, and went on doing other business. The market started going up, but at every point I was not sure if it going up anymore, so I didn’t go on. Finally the climbing up ended, and I felt sorry for myself. I didn’t watch the charts closely enough, doing other things at the same time, and I missed a steep climbing.

Then again I sat waiting for a point in which I would be sure the market was going down. At this point I was already too eager to trade and couldn’t concentrate on my other work. I wasted a lot of time till I finally decided it is time to take the risk.

I entered on one contract. Not long after I was able to collect a profit of $50. I debated with myself, but finally decided that after such a long wait I should try again, and soon had another $25 position on another contract.

At this point I decided to stop. As I said here yesterday, I want to be careful not to get into a gambling mood. I have to teach myself the right discipline.

Looking again at the charts a few minutes later I saw I could have collected a much higher profit, but never mind. $75 on two contracts is nice enough for me at this stage.

Tomorrow I will probably not have time to trade. I will be out in the morning, and on the afternoon the kids will be around, and internet connection more difficult. But I hope to have some chance.

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Short and Easy

Posted by Deb | Day Trading Journey | Tuesday 22 March 2011 11:19 am

I opened my Sierra chart today first thing in the morning – well, relatively speaking. It was already 9:30 AM (2:30 AM NY time). The market seemed to be approaching a sure down turn, so I waited patiently, and finally entered on one contract. The market continued to move rather slowly, but it was definitely moving. After a long 10-15 minutes wait (what later in the afternoon would have been only 2 minutes) I finally was able to quit with the small profit of $37.5.

I had an urge to wait a bit more and enter again another position, but I stopped myself. I don’t want it to become gambling, I don’t want to get addicted. For now, till my account gets a bit bigger, I should have small goals so I will not be risking too much. In the current rate I hope my account will be up to $2000 by the end of April, at which I will be able to move my expectations a bit higher, maybe to $50 a day till I get up to $3000. Once I achieve the $3000 (please G-d!) I will be able to be trading a bit more freely.

Anyway, those are my plans for now. I hope things will be going by this plan.

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Diving In

Posted by Deb | Day Trading Journey | Monday 21 March 2011 8:50 pm

Today I dared a bit more in my live trading, and things got a bit scary…  Luckily I managed to get out with some profit.

The market seemed to be going down soon, though it was still stuck around a support line.  I thought of putting an order a bit under the line, waiting for the market to cross it, but was a bit afraid of it:  Each time I put it, I cancelled it a few seconds later. 

Finally the market did seem to get down, so I enterd on one contract.   Too bad, the market didn’t go down any further.  It played around the line, going up and down again but never crossing my entry point.  Finally I decided to get out and managed to do so with a small loss of $12.5.  I was proud of myself on not gambling and being mature enough to get out in time.

The market went a bit up, and then again headed down and got stuck on the same line.  I waited for quite a long time till it finally went down a bit further, at which I entered again on one position.  The market was still not deteremined enough, getting up and down till I finally entered on one more contract.  After some more time I managed to quit with a profit of $62.5.

Now the market headed down again.  I tried to enter with another contract, but the market was running away – escaping my orders.  Finally I managed to get through, but this was at almost the end of the dive.  It seemed the market will be going down more but it still didn’t, and I was cursing myself for trying again.  I tried to move up my take-profit point, but the modification didn’t catch and at one point I saw the platform wrote this down as if I am ordering a buying of 4 contracts!  I quickly cancelled that, and finally was able to quit with another profit of $25.


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Short Trading

Posted by Deb | Day Trading Journey | Thursday 17 March 2011 2:04 pm

I had to spend the morning today getting a tax form, which was very frustrating.  Such a waste of time!

Once I got home I opened my charts and saw the market was on an end of a dive down.  I tried to move my pc to the living room (where I can wire it directly to the router) very quickly so as not to miss it, and of course everything went wrong:  I knocked off a few items from my desk, I managed to move the taskbar to the top of the screen…

Once everything was straightened out I opened the platform, but even with the wired connection, I couldn’t get a good connection.  After a few tries it seemed ok, and I tried to trade for the first time on the new symbol – ESM1.  I entered a short position on one contract.  Soon I saw the connection was off again, and that by mistake my ESM1 brackets were  not yet set so I had no limit/stop-loss orders on this position.  I closed and re-opened the platform, but the connection was still not good.

I put a buying order on where the market should have been according to the Sierra charts, and it immediately caught, although the Transact platform was showing the market position in a different place because of the bad connection. This got me out of the position with a small profit of $37.5.  As the connection was so bad I decided that was it for today.

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Not Enough Time to Trade

Posted by Deb | Day Trading Journey | Thursday 17 March 2011 1:32 am

Today was frustrating. I am so busy now, I didn’t manage to trade. I did open the charts on the afternoon, and at one point saw that the market was going to go up. I tried opening the platform, but did not get a good connection and didn’t have the time to move my pc to the other room where I could connect it directly to the router in a wired connection. So I had to see how I was right, and could have made some profit, but just didn’t get to it. I hope to have more time tomorrow.

Had I been more sure of myself, knowing for sure that these extra 20 minutes of setting myself up in the other room would give me easily $50-$100, I would have taken the time.  I should be more sure of myself!

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