Finally Some Good News (Well, Somewhat…)

Posted by Deb | Day Trading Journey | Thursday 29 July 2010 6:23 pm

In the morning I thought I will not trade today. I really didn’t feel like it. Although I already decided I will trade now only on the simulator, I was still hesistant to try. The shock I got was too big, and I was afraid. On the way home from work I still didn’t think I will trade. I was thinking to myself: “Well, I don’t want yet to trade. I don’t know when I will fee like going back to it.”. I am too busy now looking for other jobs meanwhile.

Then I sat near my computer. First I read my emails. Than I decided just to take a look… In no time I found myself trading. It was the simulator, but it went well. I got $100 in 15 minutes, on 2 contracts (the position itself took only 3-5 minutes). Not much, but it is a good start to boost back my confidence.

There is a book I want to read about the psychology of trading, which I am finding to be the most important part of trading. I am a woman with not enough self-confidence, and I am sure that is my main obstacle in trading. That’s why my initial loss got me off the stable ground and made me fall so quickly. I hope to get the book soon, I will write about it after I get to read it. Though a book catered too women will probably suit me more, men usually are more assured of themselves, and often have a different psychologic basis (does anyone here know about such a book?).

Anyway, I feel happier now. I still have a long way to go till I will be back trading, and a longer way to go till I will be making some profit again. The important thing when I go back to trading will be to get my account back to a normal size, it is so low now, I almost can’t trade. Another loss will literally get me out of the market, psychologically and financially, so I have to be very careful.

In any case I decided not to try and rely on any profit from trading in the near future. After I hopefully (please G-d) will get my account back to order, I will concentrate first on getting it a bit bigger. I hope I can do that, and that I will find enough other sources of income for the meanwhile. (Plug-in: Do you need a C++/C# programmer or a website builder? If so, please contact me).

Meantime, here are some other means of profit: If you are located in the United States, you may want to check out the following link. It is a website in which you can bid for the stuff you always wanted to buy, and get it much cheaper. You may win a Wii, a kitchen aid or an SLR digital camera for pennies. Try it out: 95% off Electronics, Gift Cards, and Appliances.

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