Sitting on the Fence

Posted by Deb | Day Trading Journey | Wednesday 23 March 2011 2:44 pm

I opened the charts today quite early (9:30 AM), but I wasn’t sure what direction the market was going. I didn’t open the Transact platform, and went on doing other business. The market started going up, but at every point I was not sure if it going up anymore, so I didn’t go on. Finally the climbing up ended, and I felt sorry for myself. I didn’t watch the charts closely enough, doing other things at the same time, and I missed a steep climbing.

Then again I sat waiting for a point in which I would be sure the market was going down. At this point I was already too eager to trade and couldn’t concentrate on my other work. I wasted a lot of time till I finally decided it is time to take the risk.

I entered on one contract. Not long after I was able to collect a profit of $50. I debated with myself, but finally decided that after such a long wait I should try again, and soon had another $25 position on another contract.

At this point I decided to stop. As I said here yesterday, I want to be careful not to get into a gambling mood. I have to teach myself the right discipline.

Looking again at the charts a few minutes later I saw I could have collected a much higher profit, but never mind. $75 on two contracts is nice enough for me at this stage.

Tomorrow I will probably not have time to trade. I will be out in the morning, and on the afternoon the kids will be around, and internet connection more difficult. But I hope to have some chance.

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