Trading on the Simulator

Posted by Deb | Day Trading Journey | Wednesday 11 May 2011 2:07 pm

Today I traded again on the simulator. So much easier! I wish I can live my life sometimes on a simulator, where the consequences don’t really matter.

Anyway, today was an easy trade. I got $75 on 2 contracts. With a bit more patience I could have done even more, but that was enough for me for today.

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PayDay Loans

Posted by Deb | Guest Post | Wednesday 11 May 2011 12:21 am

(A guest post)

Stocks Go Higher as Dollar Declines

There’s been a lot of bad news for people recently, with tsunamis in Japan and the United States gross domestic product (GDP) performing poorly last month. It’s hard for anyone to score a decent pay day, but apparently the slate of bad news does not seem to be affecting the stock market as much as Bernanke’s policies. Investors in the stock market are pushing the Dow Jones to fresh multi-year heights, despite all the bad news.

Dollar Declines

Where you see some of the real impact of the bad news is in the dropping value of the dollar. New jobless claims that rose and poor GDP performance has some people favoring other currencies versus the dollar. However, there is still some good news for people who are pinning their hopes on an economic recovery: March showed a 5.1 percent increase in pending home sales. For this sluggish economy that has seen the house market in the toilet for years, that’s very welcome news.

Companies Sitting on Cash Holdings

With stock prices going up, there are plenty of companies sitting on large reserves of cash that they can use now to spur economic growth. Even with the decline in the value of the dollar, once the economic engine is flushed with money, it will be only a little bit of time before more good news follows. While it can seem odd to have poor economic indicators ignored by stock market investors while the dollar declines in value, it’s probably because overall the economic picture for the United States is improving. Even with higher gas prices, more people are getting jobs, fewer people are in default of loans, and the stock market continues to be strong. Even the Japanese tsunami can have a silver lining for American car companies that will have a larger share of the worldwide market for small cars as Japan struggles to maintain production.

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I Am Back

Posted by Deb | Day Trading Journey | Friday 6 May 2011 2:31 pm

I know bloggers aren’t supposed to disappear for such a long time, but I needed this break. Also, this week my Sierra charts subscription ended. A few weeks back I tried installing the newer version of the Transact platform to see if it would solve my internet connection problem. It didn’t solve anything and I switched back to my old version, but I managed to see that the newer version of the Transact comes with the Sierra charts attached to it. I hoped it would save me the cost of a separate subscription, but couldn’t find the time and energy for this installation.

Today I finally did it, and was happy to see that I don’t need anymore a separate Sierra charts subscription. That’s a nice surprise.

As this was my first day trading after a long break I did the simulator. It took a long time, as the market, although live, was not moving. It went up and down 1 or 2 ticks in a ver long time. Finally I managed to get my $37.5 profit over 1 contract, which is my current goal. Although I am on the simulator, I didn’t want to try for more as the market is so slow.

I haven’t decided yet what to do next week: I guess I will start off with the simulator. I’ll see when I feel up to go back to live trade.

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Extended Break

Posted by Deb | Day Trading Journey | Tuesday 26 April 2011 10:22 pm

I intended to go back trading this morning, right after the holiday of Pesach, but already on the last few days I felt I am not up to it yet. I still have to gather some courage.

I opened the trading platform this morning and followed it for a while. I didn’t get any clear signal, and had no desire to wait for too long. I guess I am still disappointed and a little bit scared after my last failures.

I have already decided that when I trade again I will do it with no milestones in mind. I will have the simple goal of $30 net profit each day, and will not try for more. I will just trade until I feel I can do better, and of course if my account will allow it.

I will probably take off a few more days. Maybe till the next week. We will see.

I appologize to my regular followers. I hope to be back soon.

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Pessach Break

Posted by Deb | Day Trading Journey | Friday 22 April 2011 12:10 am

For those who are wondering: After the last losses I had, and since this week is anyway the Jewish holiday of Pessach, I decided to take this week off from trading.

I hope I will feel confident enough next week to go back to trading. I know losses have in the past had a bad psychological effect on me, leading to more losses. I hope I will be able to avoid that this time!

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Two Steps Back

Posted by Deb | Day Trading Journey | Friday 15 April 2011 10:38 am

I lost again today.

I waited too long to get into a long position. The indicators were all showing the market is on its way up (though only for a few pips), and I hesitated because it was not moving. Finally I did enter, in the end of the way up. I wanted to gain a bit more so I added a second contract.

The first contract was exited as expected with a $37.5 profit, but then the market turned back. When I finally quit I lost $100. I wanted to try one more time, and again lost $25.

Now I have to go back to my first milestone:) I feel I am losing my patience. I hope not to do more mistakes because of it. It seemed I stopped being cautious. I have to keep remembering how small my account is, and trade accordingly.

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First Milestone, Second Round

Posted by Deb | Day Trading Journey | Thursday 14 April 2011 3:14 pm

Today I got back to my first milestone – my account is now again over $1500. I got today $75 on 2 contracts: I was a bit braver today, and let myself win another pips. Had I waited another 10 minutes, I would have been able to get more pips, but with my small account I don’t let myself any risks now.

I hope this round will get me soon to the second milestone of $2000, with no more back slashes.

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