So What’s New?

Posted by Deb | Day Trading Journey | Thursday 5 August 2010 6:25 pm

I am still running away a bit from trading. This is good and bad. Good – because I need the time to cool off and come back to it with a new spirit. Bad – because I need to get back, I don’t want to run away till I forget all about this great opportunity to change my life. And anyway I need the money. I want to get back to trading without really relying on this money, at least not on the begining, since that makes me too greedy and desparate. I think I learnt my lesson: The first year of trading should be a practicing year, when you try to survive. Only later you can really make money. At least that seems true to me.

I force myself to trade on the simulator. Yesterday I again tried to trade early, but I really wasn’t concentrating on it at all. I put a limit order and then went to do other work. For some reason the Transact didn’t even signal, or at least I didn’t hear it. So only much later I remembered to check and found out I lost.

Today I was more conscious. I didn’t have any time to trade before the market opened, so I began trading only at about 17:30 (10:30 AM NY time). Although it was again the simulator, today I really cared. As I am still don’t have much confidence, I got out of all my positions much too early. Especially the last one, I see now the market is going up much more and I could have done another $100, or even more. As it was I made $125 on 6 contracts. Not very good, but for now I am concentrating on not losing.

As I wrote here, I ordered a book on trading psychology. I hope when the book arrives and I read it and find more insights I will feel more confident with the new knowledge I will gain.

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