Back to trading live (again) – S&P emini trading blog

Ok, I eagerly got home today and throughout the journey back from work, I said in my mind that I wouldn’t let myself get too ‘excited’ going live again. As per an earlier post of mine, it’s easy to make a psychological shift in your thinking when you are aware that you are trading real money.. and when this happens your trading changes and then you lose.

I was doing well before the end of 2007 on my simulator account which then earned my calling! I was set up on my live account to trade for the trading academy that I had signed up to. Unfortunately, what progressed from then on was a series of losses which caused me to be dropped back to the simulator.

Over Xmas and New Year holidays, I studied my trades through going over my blog entries and got stuck back in. Last week was the first week back trading. I had 4 trading days and there were no losses at all. I felt ready, my psychology rock solid.. I spoke with my trading mentor at the trading academy and today was the day to go back live again.

I felt my psychology was good and I made two trades.
My first trade today was a long at 142075 which was a breakout trade as the price action moved beyond the double top at around 142000. Unfortunately I got stopped out with for -10 and the market has reverse in my initial direction.

Then I shorted as the market went below the 142000 line at 141975… the previous move was a false breakout and the stochastics and MACD look good for a short. The price action did moved down to about 6 prices before shooting back up and hitting my stop for -6.

So, I’m -16 down for the day and a bit frustrated. I don’t want to go back to the simulator again and I fear that psychology maybe affected if I have another down day tomorrow. So far I’m feeling ok, my trading mentor thinks it’s just unlucky today.

14th-january.gif (click to enlarge, green arrows are long positions, red arrows are short positions)

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Category: Emini futures, money, Trading