Second day, second time live trading.. not looking good! S&P Emini trading

Second day and the second time I went live today. I was eager and nervous at the same time.

I phoned my trading mentor just to let him know my thoughts and he seemed ok. The market at about 7pm GMT was ranging and nothing seemed to be happening.

There was a slightly inclined trend channel and when it broke towards the downside, I sold at 139075 expecting the market to fall through the support level. However, it did move around 6 prices my way before reversing and hitting my stop at 139250. This ended up as a -8 loss.

A little tender from the loss, I stalked the market and then the market looked like it was heading upwards as the stochastics turned. I bought at 139325 and this went up to around +9 before it went down.. I was looking at a target at around 139650. However, my stop was hit for -3.

At this point, my trading psychology was damaged and I felt a little anger…  I sold again when the market dropped again, surely this time it would break through the support level…. once again, I was proved wrong and got hit for -8

I ended up -19 which is rather painful and puts me towards relegation again. I really don’t want to go back to simulator but clearly my psychology is being affected somewhere. The problem is, the more pressure I put on myself, the worse my trading psychology is going to get and the worse my trading results. I really need to try and get myself together and today was really disappointing.. arrrgh!!


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Category: Emini futures, money, Trading