My Rules Have Been Right!

Posted by Deb | Day Trading Journey | Wednesday 30 June 2010 7:32 am

If you haven’t noticed yet my new trading rules page, please take a look at it.  I finally wrote down some of the basic rules which I believe are essential in order to keep profiting from day trading, and not loosing all your money.  If I could only follow them!

I am sure I will make more changes and adaptations to the rules in the near future.  I will probably also add some.  Anyway, if you have any comments – please let me know.

Yesterday, as the day after a “grand loss” of $1000, I was supposed to go slow.  Actually, I wasn’t sure if I should be trading at all or just take a day off.

I took time before opening my trading platform.  When I finally did open it, it was after a big dive, and the market was stamping in one place.  I sat down and looked at the graphs for almost an hour till I finally was brave enough to enter a position.  As per the rules, I entered only one contract, and because of the market’s stamping I got only $37.5 in profit.

I decided such a small profit allows me one more contract.  I entered again, but then suddenly the market went up quickly.   It took almost another hour, and 4 more contracts till I was finally able to get out of it.  The total profit was now only $25, and with the 6 contracts I had in total this was a net loss of -$16. 

This is of course much better than the losses of $300 and $500 I had the 2 other times I had a “grand loss”, but still – had I kept the rule of only one position, I would have come out of day with a net profit of $30.  Much better.

We shall see what this day will bring.

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4 Comments »

  1. Comment by emt training — June 30, 2010 @ 11:39 pm

    My cousin recommended this blog and she was totally right keep up the fantastic work!

  2. Comment by Deb — July 1, 2010 @ 4:19 pm

    Thanks!

    Please stay on board.

  3. Comment by WP Themes — August 5, 2010 @ 9:51 am

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  4. Comment by Deb — August 5, 2010 @ 5:44 pm

    What was your college assignment?

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