The RiskManager Limit

Posted by Deb | Day Trading Journey | Tuesday 14 June 2011 2:45 pm

I told here about the new limit TransAct’s riskmanager posed on my trading: I can do a max of 3 contracts. I thought it meant I can’t do 3 contracts at the same time. Now it seems they meant 3 contracts in the same position, which is quite disturbing.

I went into a position today with 2 contracts, than added one more. I wanted to add one more, so I waited for the right moment to get out of one of the contracts with a small profit (of only one pips). Then I tried to add a new contract, but the riskmanager did not let me, although I was at that moment in with 2 contracts only!

That will really interfere with long positions. I think I will try to contact them soon.

Anyway, I got out of that position today with a profit of $100 over 3 contracts.

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Night Trading

Posted by Deb | Day Trading Journey | Monday 13 June 2011 10:30 pm

As happens often lately on Mondays, I had no time to trade till late in the evening (about 21:30). In those hours the NY exchange center is still open, so when I had a few minutes I opened my platform and looked for an opportunity.

I am still not over last week’s loss, so I was very hesitant. I started a position quite quickly, but then sat scared of losing. Because I was so hesitant I missed a few opportunities to make more of this position, but finally I did quit with a profit of $75 over 2 contracts.

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Wishing For Uninterrupted Time

Posted by Deb | Day Trading Journey | Friday 10 June 2011 2:02 pm

I started today being too cautious. I opened the platform late in the morning, but as the indicators were not clear enough for me I didn’t enter the market and worked on other stuff on my pc while waiting for the market to take a clear direction.

After picking up my kids from school I took a look at the market again, and again things were not clear enought, but it seemed the market will soon be going down. I hesitated for a while, putting orders and cancelling them, until I finally decided to plunge in.

The market did go down slowly, but too slow – soon I had to go out again, taking my son to his class. I quit the market with a small profit of $62.5.

5 minutes ago I came back, and the market had meanwhile gone down another 2.5 points which I missed. I am always either too scared too wait out the big divings of the market, or have to go out somewhere and miss all the action!

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Annoying RiskManager

Posted by Deb | Day Trading Journey | Thursday 9 June 2011 8:39 am

I was determined today to make some profit, so as to get encouraged. I opened the trader, and then realized I had yesterday set it to be on the demo for today. I decided to stick to that, although I did fill the need to do real trade. Though having another failure today would have set me to more failures.

I opened my mail and found a message from the TransAct RiskManager that they had set my contract limit to 3. That blew me off. That will really limit me. I need a limit of 5. I guess I will try trading like this for a few more days and when I hopefull have a few good days I will ask them to get my contract limit bigger.

Anyway, I traded today on the demo with 3 contracts, and made a profit of $100. I may try trading “on real” later today.

—————————–

Ok, I did do some real trading. Of course, I was overly cautious, and the 3-contracts limit was annoying. I made $75 over 4 contracts.

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Stupid, Stupid Me!

Posted by Deb | Big Loss,Day Trading Journey | Wednesday 8 June 2011 9:41 pm

I wasn’t careful enough today. I went into a short position without enough indicators. Then the market starting going up, and instead of backing out I waited throught. The market went up and up, and I panicked. I decided to quit, but instead of moving my stop-limit to buy, or just buy manually, I accidently pressed “sell”! I lost more and more, till I got locked out! $750 down the drain. I am so stupid, so angry at myself!

I was getting so sure of myself, thinking now I am in the right direction and soon I will be on top of the market, and here again! Such failure!

Now the market is going back down. Soon I could have been quitting with a more agreeable loss. Why couldn’t I just use the stop-loss as it should be used? Why didn’t I plan ahead and put the stop-loss in the right position? When will I learn?

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A Good Trade, But Too Long

Posted by Deb | Day Trading Journey | Tuesday 7 June 2011 11:23 am

I started trading today with higher expectations after yesterday’s trading. I opened the TransAct platform, and things seemed good. It market had gone up a bit after yesterday’s fall, and was getting ready to back down.

I entered a short position with 2 contracts. Things were going slow, so I added one more contract, and than another. After about 15 minutes I quit on 2 of them with a profit of $100. The market went done making me almost another $75, but my orders weren’t caught, and the market went up again. I added one more contract, quit on another, than added one more.

Things were dragging very slow. I have too many other chores for today. Finally I quit, with a profit of $200 on 6 contracts.

I could have surely waited more, or added more contracts to get a bigger profit, but I had enough for today.

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Catching the Bears’ Market

Posted by Deb | Day Trading Journey | Monday 6 June 2011 10:35 pm

Today was a Monday. Recently I often have no time to trade on Monday’s, and today looked it will be no exception. I came home at 3:00 PM, but had to tend to the kids, then driving them around, so I couldn’t open the platform. I finally had 10 minutes to spare at about 16:00, and although I knew it would be insane to enter a position when I have such a short time I could resist the temptation to just open the platform to see how things are going. To my disappointment I saw that had I opened it at 3:00, I possibly could have catched the market diving and make a nice profit.

I didn’t have time to take a look till about 30 minutes ago, at 10:00 PM. I opened the platform, and realized the market was in the middle of a dive. I tried to check the charts, but the charts’ connection was bad, and in any case the market was diving below any recent support lines so that I had no guess where it will stop.

I decided to enter immediately on 2 contracts. At first, the market started to go up again, and was getting annoyed at myself on entering like that with no indicators. About 5 minutes later, the market turned down again. A few minutes later I was already making a profit. I quit with a profit on $125.

I thought that was enough for today, but the market was continuing the dive and I decided to try again. I entered with 2 more contracts, and quit with another profit of $75. Yayy!

The market was diving further, but I decided no to try my luck again for today.

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