The Lucky $37.5 Benchmark

Posted by Deb | Day Trading Journey | Wednesday 23 February 2011 4:34 pm

I didn’t have time to update here in the last few days, so here is a short summary of this weeks trading so far:

On Monday I traded first on one contrace, short position. I got a profit of $37.5. Then I had to get out, but I decided $37.5 isn’t enough for me (I said already that greediness is the source of all evil!). As it was on the simulator, I wasn’t afraid to leave an open order for when I am not around. This order – for a long position 0 caught, and when I came back home an hour later the market went down and I was in a big loss (I think it was -$587.5).

Yesterday I had a whole set of orders, long and short, as I was not sure where the market was heading. Finally a short order of one contract caught, and I made again a profit of $37.5. Then my internet connection was lost. As I already learnt my lesson from the day before, I quit at that.

Today, I again started out with a profit of $37.5. But since the market looked sure to be going down, and I had a few hours before I had to leave, I decided to put a second order, this time with 2 contracts. The market did indeed go down and I got a total of $137.5.

I am debating with myself in the last few days if when I have an almost sure position like today, and a good internet connection, I may try to make small profits on live trading. I am still a bit afraid.


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