10th December – First day trading live – S&P emini – what a disaster!

Well, I had my chat with  my trading mentor earlier today and I am set up to trade live. We spoke about positioning and trading 1 contract.

The maximum loss each day is $200 which amounts to 20 prices or so.

Anyway, initially I felt a little nervous, this was real money on the line and I take a 50% cut in any of the profits. I got to make this work and there is the expectation now that I’ve graduated and trading real company money.

My first trade was a standard one on the break of a previous swing low at 151475. This broke but didn’t fall as fast as it should when going down. In fact, it bounced almost immediately and was within 1 price of my stop before it fell again. I was 3 prices in profit before it went back up again and hit my stop for -6. The only signal that didn’t confirm was the stochastic in the short term.. it was already ready oversold..

My second trade was a short at 151575 as the market had bounced higher to stop me out and was looking like it wanted to go lower. I placed my stop at 151725 (just above the previous swing high) and waited.. it did go lower to start off with and then went through my stop again by 3 price and then crashed down… very frustrating as it would have covered my initial loss. I ended up with another -6.

My third trade was a short at 151375 after seeing strong downside momentum. It went down to 151275 and then straight back up and hit my stop at 151500 for -5.

Arrrgh, I ended up with -$212.50 (above my cut off point), a loss of 20 prices! Not a good start to my first live trading day!

Now, I was talking about trading psychology yesterday.. the shift in thinking of trading a real and simulator account. I didn’t feel that this affected me but from my result today, you could say perhaps it did. I am a bit frustrated that it was a loss, no one likes to start off their first day losing but I have unfortunately and just hope that tomorrow yields a better day for me. I don’t know if the trading firm will cut me off after a certain amount of losses to this live account, we’ll just have to wait and see.

10th December - First day trading live - S&P emini

Did you like this? Share it:

Tags:

Category: Emini futures, Make Me Some Money Ideas, money, Trading


Warning: Invalid argument supplied for foreach() in /home/mmsm/public_html/wp-content/plugins/kebo-twitter-feed/inc/get_tweets.php on line 257