After over a week in which I didn’t want to touch trading (and also not having time for it), I finally went back to the simulator today. I again entered a position quite impulsively, not waiting enough. But after adding 2 more contracts to the mix, I was able to exit with a profit of $150 over 4 contracts.
Why is it so easy to trade on the demo, while trading on real life is so difficult?
I opened the simulator today and found the market diving down. It seemed near the end of the dive, but I jumped quickly on the wagon and gained $112.5 over 2 contracts. I put an order for 2 more contracts but then thought to myself: What the heck, I should do this on live. So I opened the live trade.
I was telling myself: It is the end of the dive, I am not ready yet to go live. But my impulsivity won. I entered a live short position with 2 contracts, and lost $100.
I told myself: This can’t be. So I tried again, and manged with another 2 contracts to reduce my loss to $50.
I decided to try again. The diving begun again, so I entered another short position with 2 contracts. The market went up again, and up. I didn’t want to quit. I stoped my self from adding any contracts to “even out”, so I just waited and waited. Finally I quit: A loss of $387.5 over another 2 contracts.
While writing this I was thinking to myself: I can’t let this go on. I can’t go back under $1500 in my account. If TransAct risk management will put any more limits on my trading, it will be already impossible to trade. I have to try again. I added one more contract, and lost $50.
I think my account is now in the lowest of all times. I hope TransAct will not punish me for that. Anyway, I think live trade will be off limit for a while now. And when I get back to it, it will have to be with the limits I set to myself a few months ago, until I am over $1500 again: Only one contract, a limit of $37.5 profit per day and $50 loss.
Oh, Wow. In low times I remind myself of the fantastic trading weeks I had about 14 months ago. But how many losses do I need to erase those glorious times? Do I have any future in futures trading?
As my readers now, I am a persistant person. I try again and again, and don’t want to quit. But is there any sense in this?
I opened the simulator rather late today – at 20:15 AM. The market had climbed up a few hours ago, and was now playing on the new heights. It didn’t move much. Because of the bear direction, I entered a long position, but quit after some time with a profit of $37.5 because nothing was moving. I entered another position (again with 2 contracts), and again quit after some time with a small profit of $25. Finally it seemed the market may soon be goind down, so I entered a short position.
Again the movement was very slow, although there was a big volume of traders. I quit on on position, added another, and finally quit with a total profit of $125 on 7 contracts.
I traded today again on the simulator. I had a long position – adding and subtracting contracts (I had more contracts than I could have had on the live platform), and the total was a profit of $175 over 8 contracts.
When I entered the market was close to S1 (bottom support line), but it seemed to be going up soon. I entered in a long position, and then added more contracts in lower points, guessing it won’t go much under S1. The market went up and down, so I continued to quit on some contracts and add more, until I finally quit on all.
July 4th is over, and I am back to trading, though I am back again on the simulator for a while.
I did some trading on Friday. I had first a nice position, made a (demo) profit of $137.5 over 4 contracts, but then got greedy and tried one more position. This position was disastrous, so I just quit it in the middle. That’s the advantage of the demo – you can close the platform and forget about your mistakes.
Today I had another position, this time over 5 contracts. I made $125 over 5 contracts. As is often the case, I had to quit the position early to go out with my son.
I think I will stick to the demo for a while now, I have no idea for how much time till I decide to go live again.
Yes, I know, I have disappeared. I have been very busy, and still am. These last 10 days have been very hectic for me, and without getting into details, it seems I have yet another about 10 days of no time to breath.
After my last trading loss, I have now less energy for trading. I needed some break, and my being so busy these days have took away even more energy.
So forgive me. I hope to be able to get back to trading soon – in another week or so. Maybe less.