The Good and The Bad

Posted by Deb | Day Trading Journey | Monday 15 November 2010 6:06 pm

The good is that I made a small profit today. The bad is that again it was not by the rules.

I again started trading when I really did not have any time – on the afternoon knowing I will soon have to drive my kids to their various activities. I went into a position knowing it was not the best, and had no time to wait. The indicators showed the market will probably go down, but till when I had to go out it did not go down. I moved the stop-loss up, again repeating the strategies that gave me a steady profit over 6 weeks but then led to big losses.

When I came back home the market was on its way down. I waited some more and finally it went down enough. I exited the position with a profit of $87.5. I added 2 more small positions and gained another $50.

If my account was big enough, I wouldn’t mind. But with the small account I have now, I should be practicing on the demo with positions I would be able to try also with my small account. What I did today with pulling back the stop loss is definitely not something I can do on “real life” trading.

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