Today’s Saga

Posted by Deb | Big Loss,Day Trading Journey | Friday 8 July 2011 5:23 pm

I opened the simulator today and found the market diving down. It seemed near the end of the dive, but I jumped quickly on the wagon and gained $112.5 over 2 contracts. I put an order for 2 more contracts but then thought to myself: What the heck, I should do this on live. So I opened the live trade.

I was telling myself: It is the end of the dive, I am not ready yet to go live. But my impulsivity won. I entered a live short position with 2 contracts, and lost $100.

I told myself: This can’t be. So I tried again, and manged with another 2 contracts to reduce my loss to $50.

I decided to try again. The diving begun again, so I entered another short position with 2 contracts. The market went up again, and up. I didn’t want to quit. I stoped my self from adding any contracts to “even out”, so I just waited and waited. Finally I quit: A loss of $387.5 over another 2 contracts.

While writing this I was thinking to myself: I can’t let this go on. I can’t go back under $1500 in my account. If TransAct risk management will put any more limits on my trading, it will be already impossible to trade. I have to try again. I added one more contract, and lost $50.

I think my account is now in the lowest of all times. I hope TransAct will not punish me for that. Anyway, I think live trade will be off limit for a while now. And when I get back to it, it will have to be with the limits I set to myself a few months ago, until I am over $1500 again: Only one contract, a limit of $37.5 profit per day and $50 loss.

Oh, Wow. In low times I remind myself of the fantastic trading weeks I had about 14 months ago. But how many losses do I need to erase those glorious times? Do I have any future in futures trading?

As my readers now, I am a persistant person. I try again and again, and don’t want to quit. But is there any sense in this?


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