So Frustrating

Posted by Deb | Day Trading Journey | Tuesday 8 January 2013 10:18 pm

I keep making money on the demo and losing when doing live trade. This is so frustrating!

I started today on the demo,  For the first 2 positions, the market was indecisive so I quit quickly, making only $12.5 (one pips) for each. Then I joined the markets direction and entered a short position, and made another $75 with 2 contracts.

A few hours later I decided to try again with live trading. Everything went against me!  With the first position the market again was indecisive, and I quit on the same point I went in, making $0 and losing the fees. Then I decided joining the downward direction, and of course just than the market *jumped* up, making me losing $50 on an instant.

I was stubborn and tried again, and lost another $50.

I should probably just stick to the demo for a while.


update – and invite to join my newsletter

Posted by Deb | Day Trading Journey | Thursday 3 January 2013 6:27 pm

I haven’t updated here for a few days, so here it is:

Last Thursday I went on vacation. I had a taxi scheduled to pick me up on 2 pm  I knew it was not a good idea to trade just before leaving, but when all my other chores were done and I was waiting I decided to trade anyway. Of course the position got complicated, the market going up and down and I had to wait and meanwhile added contracts so I had 4 overall, and when it was the time for the taxi to come it was just the time the market finally went strongly in my direction, but not fast enough. Finally I quit with a loss of $100, knowing that waiting for 5 or 10 more minutes would have probably given me a nice profit. That’s the punishment for trading in the wrong time.

I came back from vacation on Monday, when the markets were closed. Yesterday I traded on the demo, and made $50 on one contract. Today I decided to trade live. The market was not moving, going up and down about 3 pips, and I worked on other things while waiting for the market to move more. Finally I decided to enter on the lower pips, and in about 5 minutes the market went up those 3 pips and I made $37.5 on 3 pips.

I have heard for a long time that a good blog should have a newsletter. Finally I decided to open one. You can join it here. In it I intend to give tips about trading, making online, and more…


Getting Better

Posted by Deb | Day Trading Journey | Wednesday 26 December 2012 1:02 am

After my first failure in live trading the other day, I decided to go back to the simulator. So yesterday I stared again with the demo.

I want to be “as sure as possible” for my position, so I identified a resistance line in that day’s max value and put a line there. The market was very slow so I thought it doesn’t have much chance to get there. I begun doing other things meantime, and suddenly heard the beep of a position being caught. I took a look and saw my position had finally caught.

The market started going faster, and a few minutes later I was out of my position with $100.

The graphs indicated that the market is going to continue in its dive, and I thought to myself: “Now! I have to do this live”.

I had to close the program and re-enter it in live mode. When I did that I saw the market has dived very quickly. I tried to catch the end, and I did. I won $50.


Failure Again

Posted by Deb | Day Trading Journey | Friday 21 December 2012 11:48 am

I decided to try a live trade today. That was silly. I knew I wasn’t ready yet. I first tried the demo. I first had a small success, than a small loss. Than I thought to myself: Why shouldn’t I try a live trade? If I don’t trade live this month, I will have to pay a small fee for using the charts. So why shouldn’t I trade instead?

My inner voice told me: Don’t try. You can lose more than that fee. But I wanted to try.

I tried one position, over 1 contract, and made $25. I told myself: Good, that’s enough. But my other part wanted to try again.

I tried again, and immediately the market turned against me.I waited a bit, and it seemed to turn again, making my potential loss smaller. I waited again, and it became higher. Finally I quit. I lost $75 over 2 contracts.


2 Weeks of Demo

Posted by Deb | Day Trading Journey | Sunday 16 December 2012 12:49 am

I have been trading on the demo for 2 weeks now. I feel I am getting back the feel of it. I hope to be back on real trading soon, but I don’t know yet when probably by the end of the month.

During these two weeks I have missed one day of trading (I took the day off with the kids). I have made $276. I have had much better weeks on real trading, but this is enough for now. I am proud of the fact that I had during these weeks 2 days of small losses. That was always my problem – to be able to cut my losses and not let myself stay in the position waiting for the market to change direction. If I will always have only a few days of small losses that would be great.


Strange Trading

Posted by Deb | Day Trading Journey | Thursday 6 December 2012 5:56 pm

Today’s trading was strange, though I came out with a nice success: $162.75 over 4 contracts (still on the demo, unfortunately…)

I entered the the market with one contract over a long position, and then realized I have not yet clicked the automatic bracketing, so that no take-profit and stop-loss were generated. I quickly found a good point to take profit, but suddenly the market started moving too quickly for my modem, and I couldn’t see the orders I was putting. Till I realized what was happening I was in a short position with 4 contracts, and the market was going down! I quickly got out, eliminating the orders one by one, and got to the nice profit of $162.5. It was like trading on blind and winning.


Another Small Success

Posted by Deb | Day Trading Journey | Wednesday 5 December 2012 2:34 pm

Today I traded in the morning, when the American Stock Exchange is still sleeping. I opened the platform at around 7:30 AM, but nothing was moving so I closed and opened again at 11:30. Things were still moving slowly, but I identified a weak support line which I thought would be a good bet for the time and put an order for 2 positions.

The market was moving very slowly and I drifted away during other things. After an hour I checked again and found I had entered the position, and was currently losing as the market went one tick lower. I decided to wait it out, but everything was moving very slowly. Finally I pulled down one of my profit-taking points to one tick, and it caught.

I was not sure if I should wait more or not. The market was going up and down one tick and nothing happened. The indicators seemed to show it will go up a bit more but I lost my patience. I pulled down the second order and took again one tick, so overall I gained $25 over 2 orders.

Of course, a few minutes later the market went up more. Now it is one full point higher, so I could have taken $50 with that second order. Never mind, as long as I am not losing it is fine for me. Right now I only want to collect as much positive experience as possible before I go live.

I was going to close the platform now and then realized I had placed previously another short order on a higher resistance line. That’s one thing I have to remember: Cancel all pending orders before quitting!

« Previous PageNext Page »