That Was Close!

Posted by Deb | Day Trading Journey | Friday 25 March 2011 11:58 am

Today is the Jerusalem Marathon day: No school, my kids are home, everyone sleeping late…

I got up later than usual, but before the kids and the dog were up. After my usual waking up routine, including doing some cooking and laundry, I decided to take advantage of the quiet morning and do some early trading before everyone is up.

I opened the charts and platform, and everything seemed good: The market was very slow but still moving, and looked about to go down. I waited a bit – doing other things – and when I came back to the laptop the market was already on its way down. I quickly entered a short position and was sure I would be out in no time.

No luck. Just then the market got stuck on my entry point, and a few minutes later – started going up. I was sure it will quickly turn back down, so I added one more contract in a higher point, but again – no luck. The market went up.

I sat there in disbelief, not knowing what to do. I couldn’t risk losing my small profit of the last 2 weeks, but equally (or more) didn’t want to wait too long till the remaining of my account will be wiped off.

I waited and waited, praying for the market to go back down, and then BOOM! Everything was happening at once: The marketd turned back down, and my kids started getting up and hungry, and the dog got anxious to be walked out (I wouldn’t blame here – it was already almost 10AM).

With all this pressure I couldn’t wait much. I added one more contract and got out of the position quickly, with a small profit of $50 over 3 contracts.

Now I was left with a feeling of a miss: I could have used this turning down to a bigger profit. Had my account been bigger and ready for greater risks, I would have added 2 more contracts before the market dived down and collected a much bigger profit. That’s funny: Instead of celebrating the fact my account was not wiped out I am sorry for not making more.

I am almost up to my first milestone, of having my account back to $1500. It is now at $1491.7. I hope to reach my first milestone next week, and then on to my second milestone: $2000 by then end of April.

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1 Comment »

  1. Pingback by Futures Trade Blog » The Disturbing Child Syndrome — March 30, 2011 @ 1:32 pm

    […] That Was Close! […]

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