I Should be More Brave

Posted by Deb | Day Trading Journey | Friday 20 May 2011 4:58 pm

Today’s profit was $62.5 over one contract. Not bad, but could have been more. I entered the market in a long position, as the indicators indicated the market was going up. As it was not yet official trading time, the market was very slow, and I waited a very long time (probably over 20 minutes) till I quit the position. I decided to hold out and quit too quickly, and set my limit on 5 pips which means $62.5.

A few times during this position I considered entering with one more contract to make more profit in a shorter time, but didn’t find the right spot, or was afraid, or sometimes my order just didn’t catch. Finally I quit on my limit, but the market continued to go up. Had I entered with more than one contract, I would have had more courage and patience to wait more, as I could have collected partial profit from one of the contracts.

My conclusion is that I should go back to entering on 2 contracts from the start of the position. That will give me more options.

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1 Comment »

  1. Pingback by Futures Trade Blog » Braver Today — May 23, 2011 @ 2:04 pm

    [...] I Should be More Brave [...]

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