Learning How To Lose

Posted by Deb | Big Loss,Day Trading Journey | Tuesday 12 April 2011 7:02 pm

Today I lost. Big loss: -$437.5 over 2 contracts.

I waited a long time for a right moment to go in. I missed a good position by hesitating too much at the begining, and then waited and waited, and finally lost my patience. I entered with one contract, and when the market went against me I added one more contract instead of getting out: I had no real indicator that the market will where I wanted it to go. I was stubborn and stupid.

With the 2 contracts, I had a good opportunity to get out with a small loss, but it was still a bigger loss than I was prepared to endure so I waited and waited, and finally lost big time.

On a different level, I was telling people about my trading experience. In the past, after every time I spoke with people about my trading – I lost. I guess when speaking about trading with other people I get into the mood of “yes, I am a trader. I will trade every day and win”. And then my ego gets too big and I enter positions without being cautious enough. Instead of telling myself today: “I couldn’t find a good time to enter today, so never mind – I will trade tomorrow”, I entered with no real indicators, and then waited for the market to turn around with no real indicators it will ever do that.

A few weeks ago, when I starting the current “trading period”, I remember quitting a position with a small loss and being happy and proud of myself of quitting on time. Today I lost it. I didn’t quit in time, and lost big time.

I am stubborn. I will continue. I will make progress. I have to go back to trading cautiously, only when I have real indicators, and quitting in time.

Wish me luck!

——————————————-

I ate a lot of chocolate. I screamed unproportionally on my eldest boy. I am trying to be indifferent, but I am not. I lost the profits of 3 weeks. I stopped being cautious about my trading. Will I be ever able to trade “by the rules”, and make a real profit? This is so discouraging!

Sponsored Links:

construction litigation http://3dbestanimationsoftware.com/ The green Egg Grill Online LPN to RN motorola surfboard adjustable beds http://ps3troubleshootingtips.com/

Share

A Busy Week

Posted by Deb | Day Trading Journey | Friday 8 April 2011 11:40 am

This week has been a very busy one, and I did not have enough time to write here. I was going to write also a short history of my trading experience for the newcomers, but that will have to wait for next week, hopefully, or the week after.

Anyway, I have been trading yesterday and today, meeting my goals: Yesterday I got $37.5 on one contract, and today $62.5 on 3 contracts.

Share

This Week’s Trading

Posted by Deb | Day Trading Journey | Wednesday 6 April 2011 9:03 pm

I am having a very busy week now (and probably the next two weeks will not be easier). On Monday I had no time to trade. Yesterday, on Tuesday, I managed to find some time to trade and got $62.5 over 2 contracts.

Today again I had almost no time. I tried now to trade and had a lot of internet connection problems, but finally got $37.5 over 2 contracts. It was annoying, the market was moving very slowly. I knew it will go up more, but had already no patience and time (I really have to get the kids to sleep already), so I quit. A few seconds later the market went up more, so I could have gotten to my $30 limit, but as it is, no luck: $37.5 with 2 contracts is only $23 net profit.

Share

Pesach Is Coming

Posted by Deb | Day Trading Journey | Tuesday 5 April 2011 1:10 am

Share

The Goldstone Illusion

Posted by Deb | Politics | Sunday 3 April 2011 9:56 am

Judge Richard Goldstone is a South-African judge who was mandated by the UN to write a report about Isreal’s Gaza Operation in 2009. The report he had written was scandalously prejudiced against Israel.

Last week he finally admitted he “may have made a few mistakes” in this report.

The best article I have read so far about the Goldstone report was written by Prof. Moshe Halbertal here: The Goldstone Illusion. Please read it to understand the moral dilemmas Israel is faced with when combatting with Arab militants, in the Hamas and Hizbollah.


Share

The Small Miracles

Posted by Deb | Day Trading Journey | Friday 1 April 2011 3:48 pm




I opened my platform early this morning, as usual for me in the last week. The market was in the middle of climbing up, and I was not sure if I should join or maybe it is already at the end of climbing. I hesitated for too long, and missed the opportunity to finish my trading in a few seconds. The market had climbed up more but by the time I realized it I missed it.

I then waited for a while but did not find another good opportunity, and finally had to go out.

I opened the platform again an hour ago, at 14:30. The market had by now climbed up more, and seemed to be going down soon. I waited, and finally entered with one contract, although the point in which it would have gone down for sure was not yet achieved.

The market went up instead. I added one more contract in a higher point, and waited for the market to turn down. It did go down a bit, but not low enough for me to make any profit on this position.

I waited and waited, and the time was already close to 15:30, when some financial report was scheduled. I was preparing to exit with a small loss, and wasn’t sure about it, when it got 15:30. I was pulling my limit point up 2 ticks, and the market started jumping down and up. My limit caught, giving me a profit of $50. For a second I was sorry I moved my limit, as the market was still jumping, but then it sky-rocketed up leaving my limit far behind, and me very grateful my limit was pulled and caught in time before making me a big loss. Thank G-d!

Share

Blind Trading

Posted by Deb | Day Trading Journey | Thursday 31 March 2011 6:28 pm

Today I had to trade “on blind”. I didn’t have time to trade in the morning. In the afternoon, which is NY’s morning, the market is busy with a lot of volume and my connection was very bad. The Sierra charts and the Transact platform were moving each in its on speed, and with no coordination.

I saw the market was going down slowly. I entered a limit order in one point, where the market was supposed to be according to the Sierra charts, though the Transact showed the market in a different place. When the order caught the market went up a bit, so I entered a second contract in a higher point. Then I had to wait for the market to go down enough to get some profit. I had no way to know where exactly the market was, but I just waited, and a few minutes later I was out of the position with a profit of $50.

It was funny to see orders being caught by the trading platform although the platform was showing the trade in a different place. I am probably insane to try and trade in such conditions.

Share
« Previous PageNext Page »