Small Steps

Posted by Deb | Day Trading Journey | Friday 16 July 2010 4:52 pm

My pattern of trade today was that of fear. I entered a position, and immediately run away, adding thus every time a small profit with more fees because of the many contracts.

When I opened my platform I saw I have just missed a dive of the market, in which I could have made some nice profit. I tried to catch the tail of this dive, and with the first contract it seemed to be going fine, so I added another one. At that point the market stopped its dive, and I got no profit from the second contract. Later I added a third on which I made a little loss, as I was afraid of losing and quit too quickly, than another small profit of two more, than another small profit of one more. I totaled $100 over 6 contracts.

This method is rather stupid. I looked back at my notes of when I started again after the first big loss I had, on the end of April/begining of May. Back than I had been disappointed from my small steps, but they were giant steps as compared to now! I had made than $112.5 over 4 contracts on the first day I went back to trading. Maybe I should have taken a whole week off trading, as I had done than. A week off may get me into a more fresh attitude, being more brave. Or maybe it was just a matter of luck. Though my experience in trading has taught me, or at least gave me the impression, that the most important part of trading is my psychology. “It is all in my head“.

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