I haven’t posted for a wee while and the reason being was that my mind was completely preoccupied with some other things of which I won’t bore you with. I have thought about my trading however and have been frustrated how difficult it just is. I have been attempting to trade the markets for what seems like ages yet still, I don’t seem any closer to cracking it. There are times of brilliance and times of sheer despair and frustration…. for those who have been following my blog, you’ll note that I had joined a trading academy. Unfortunately, things didn’t work out with those guys, they unexpected terminated my account and still demand payment.. I hadn’t even got the professional training which they talked about so I’m in dispute with them currently.

I have been on a few courses also and it’s about finding the time (I only have evenings to play with due to my 9-to-5 job). It would be good if I were at the stage where I could just trade but alas, I’m not at that stage as yet.

This blog generates money however through sponsorship and advertising and actually covers my trading losses (except for the monies that the trading academy are screwing me for).

Anyway, I did trade today, a short on the DOW at 11389 and got +18.

Tags: dow, ftse, indices, makemesomemoney, shorting, trading academy, trading blog, trading course, trading courses, trading journal

I went long at the break of the previous high in the S&P at around 1378… I actually got in at 1379.48 due to the spreadbetting spreads which you pay rather than their commission charges… they move their spreads about meaning that you can lose half a point (in S&P terms) per transaction… and upto a while point when doing a round trip.

Anyway, the market went up and I got out at 1381.53 (I actually closed when the chart reached 1382 which was my target exit) for the equivalent of 2 points profit which isn’t bad.

However, as always, I took profit early and the market has hit a short term peak of 1385 and is now retracing but could look towards going higher again from here as it has gone beyond the previous days high. Still, a profit is a profit!

One thing which I need to be careful of is that I am and trading off the indicators more than the price action. It is the price action which is determining the indicators and not the other way round so I need to be aware of this. The indicators are great once you’re in to gauge whether the market is running out of steam and an exit point.

Tags: daytrade, daytrading, emini, futures, investing, live account, makemesomemoney, peaks, s&p, standard and poor, tca, technical analysis, Trading, trading academy, trading blog, trading mistakes, trading psychology, trendline, troughs

That’s how I’m feeling at the moment! It’s funny how the joy of winning doesn’t compare with the feeling of depression and despair of losing.

I did ok yesterday and today, I lost but I feel much worse today than the joy I experienced yesterday. In fact, I expect to at least be up every day so unless I make a lot of gains, I don’t feel any joy or pleasure in my trading winnings. For those that follow my blog, you’ll notice that I can’t seem to ride those winners well so there is hardly ever any joy in my trading.

There was a time when I put in a trade and I completely forgot about it.. I think it was a Forex trade and after a few days, I logged in to be shocked to find that I had left a trade open and it was 800 points up!! That was my biggest ever win trading the markets and needless to say, it was a mistake! There was absolutely no skill in it and my mistake had boosted my account.

Anyway, here are my trades of today.

I bought right at the wrong point, got in at 12823… the market immediately went the opposite direction and I got stopped out at 12805 for -18.

The next trade was a short at 12795 and I got out at 12790 for +5.

Another long at 12796 and got out at 12810 for +14.. I chickened out here as the market moved another 10 points my way.

Then a series of disasters… a short right at the bottom at 12801 and then another short at the next bottom at 12822 for a total (for these two trades of -37)

Total for the day is -38. In the scheme of things, not much of a loss but just annoying that in the 5 trades I placed, 3 were bang on the top or bottom (except I went the other way) and one was incredibly close to shorting at the bottom. My one decent entry, I close far too early.

Perhaps I should do the opposite.. I would have done rather well!

Tags: daytrade, daytrading, dow, emini, futures, investing, live account, makemesomemoney, s&p, Spreadbetting, standard and poor, technical analysis, Trading, trading academy, trading blog, trading mistakes, trading psychology, trendline