AWOL

Sorry all,

I haven’t updated the blog in a few days… well, what’s been happening?

 I have been trading with my learner account.. for those who haven’t been following, I have joined a trading academy and I need to prove myself. I need to show consistent results if I am to make it!

 Anyway, the other day, I did rather badly… the S&P E-mini was having a heck of a day… retracements were huge, 20 prices or so which made it difficult. I have my 9 to 5 job so I get back at 6.30 or so and I realised that I had missed a big slice of the action already. Already the mindset is.. “shit, the market has moved loads already and I missed it.. I want part of it” This is a bad thing.. it fuels the deady emotions fear and greed which are the bane of trading.  I knew that I wanted to go short and at every opportunity I sold short. I made some bucks but disappointed that it was so few considering the market had moved so much…  it’s like someone threw 10,000 gold coins in the air and you only managed to grab one of them! Grrr! Not only do you feel like an idiot but your emotions then kick in… you’re not stupid you think, I’m going to make sure I get my share! Of course, it all ends in tragedy and you end up losing all the gold coins plus a bit more!

Anyway, today was a little better. I had a short on the GBP/USD last night with a 50 pip stop and profit. My profit target was hit.. however, the market moved a bit more and I could have grabbed a further 150 pips! Oh well, nevermind… a profit is a profit.

Usually I only get time to trade the S&P E-mini when I get back from work. However, I get flexi Friday so I have a Friday every two weeks. I used today to look at the DAX and Bund. I called it wrong with the Bund all day and overall I lost on this .. it moves slowly though so isn’t that stressful. However, the DAX is extremely volatile.. you really need a strong stomach… I started off with some hefty losses but one lucky DAX trade brought me back into profit.. phew! I was still down for the day but late in the evening (around 7pm), I got lucky with the S&P and made back all my losses.. I ended up flat!

The market crashed soon afterwards though and I missed a fantastic opportunity.. there were 80 prices for the taking (that’s 20 S&P points) which is a heck of a lot. The markets look like they’re crashing..  It is frustrating when you miss these things and I used to get angry with myself when this happens but there are opportunities every day.. you have to be patient and wait for it again!

Ok all, that’s it for me! Have a good weekend!

:)

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Category: Make Me Some Money Ideas, money, Trading