Short and Easy

Posted by Deb | Day Trading Journey | Tuesday 22 March 2011 11:19 am

I opened my Sierra chart today first thing in the morning – well, relatively speaking. It was already 9:30 AM (2:30 AM NY time). The market seemed to be approaching a sure down turn, so I waited patiently, and finally entered on one contract. The market continued to move rather slowly, but it was definitely moving. After a long 10-15 minutes wait (what later in the afternoon would have been only 2 minutes) I finally was able to quit with the small profit of $37.5.

I had an urge to wait a bit more and enter again another position, but I stopped myself. I don’t want it to become gambling, I don’t want to get addicted. For now, till my account gets a bit bigger, I should have small goals so I will not be risking too much. In the current rate I hope my account will be up to $2000 by the end of April, at which I will be able to move my expectations a bit higher, maybe to $50 a day till I get up to $3000. Once I achieve the $3000 (please G-d!) I will be able to be trading a bit more freely.

Anyway, those are my plans for now. I hope things will be going by this plan.

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