Hoorah! Second successive winning session in my live trading

I missed a lot of the action yesterday but back to it again today. I got home as normal and watched the market make a double top at 136675. I entered manually as I wasn’t sure if the market will get higher. When I thought it wasn’t going any higher, I hit the button to short. I got in at 136550.

The stochastics in the 5 and 15 mins were both in overbought territory which gave me confidence in the trade. My initial target was 136225 which was just above a previous swing high made at 17:10 GMT. I chickened out however and manually closed at 136300 for a +11 price profit.

The market 5 seconds later went to hit my target!!! Arrrgh!

Anyway, I was dead proud of my profit and didn’t want to lose it.. if I leave it now, it means that I have made it a second successive winning day on the live account..  these are unchartered waters!! :)

For fear of losing, this paralysed me to make further trades…

When the market bounced off 136100 at around 19:10 and pulled back to 136400.. the stochastics were still signalling a short. I wanted to short at 136300 with a target of 136050, stop loss 136425. The fear of losing was too strong and I didn’t trade this.. it would have been a winning trade and netted another 10 prices.

Anyway, at least I didn’t lose I suppose..  once again the dreaded trading psychology reared it’s ugly head! I guess it’s about confidence.. the more comfortable I feel, the less fear of my own skill as a trader should allow me to pull the trigger.

At the time of writing this, the market made a triple top, retraced and now making new highs for the day.

Make Me Some Money - 13th February

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Category: Emini futures, money, Trading