Wednesday, December 8, 2010

Limiting Belief


I already made nice $320 at London Session. As I wanted to develop as a trader, I continued trading. Spotted nice chopped EUR, chopped all the way in narrow range.

Prepared 7E, stopped out. Now prepared the 6E, stopped out again. Next, flipped at -1tick, stopped out. Flipped again to short and ride the choppy dived. I saw my previous Stop order at 3240, deleted it. Then price fell further AND EAT MY 3228 ORDER!!!! WTF... I FORGOT TO DELETE IT!! Price went up fast so I got out at 3236, Now my Average Short Price become 3241 from 3256!!! I put my SL at Breakeven, prepared to lose this fight. Thankfully price never breached the spot, almost... So I rode the downfall again and got out at 3213. Not so bad :)

Prepared the commodity trading ZS, moved too fast...SL slipped 2 ticks, next stop again..no slipped. Price soared, entered long, set to Breakeven, breached, re-entry at 1277, now my limit belief took over. Got out at 81 since that's the spot I got back my previous profit. Less than 5 minutes, it soared to 1287 for 10 cent worth $500!!!
ZW, very choppy today. Short it, moved only 2 cent suspicious and got out at par. I was right, it was choppy today.

All of my trade came from 1 contract trading. I need suggestions from all of you. Are $300-ish profit per day worth the one contract? Busy day today, decided to leave Crude Oil today. Time to rest...

2 comments:

  1. 1 contract for 300 that is very good, keep at it until it becomes a normal daily routine.

    ReplyDelete
  2. Hi Cory,
    Tks :). I can buy max around 6 contracts. But my spare used for buying different instrument.

    ReplyDelete