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.
(click to enlarge, green arrows are long positions, red arrows are short positions)
