Welcome to Wall Street, Main Street and Me


Tuesday, July 8, 2014

**Live** Day Trading /CL Futures - 7/8/14

Ohhhh brother. Live and Learn!

Well, I decided (like an idiot) to bite the bullet and get out of my Long because I had to go to work...and who knew what would happen next? (OF COURSE what happened next was that oil soared, and I could have been in profit. Just shoot me!!) My account had already been "adjusted" by $300 (for the overnight hold of the trade, and recalculated value), so when I sold it, it was only another $50 loss on top of the adjustment. ONLY! A total loss of $350. Arghhhhh. Kills me. My own stupidity. BUT. I managed to make it back, once I was out. So slim profits, but at least I stayed afloat without giving up all my gains. A lesson learned, as my readers reminded me, so gallantly, in the comments section of the last post.



At the moment I am busy investigating other indicators, and have ordered the John Carter book "Mastering the Trade." I'm always, always, always interested in new stuff, as long as it's not expensive and not something I've already done.

(Sometimes it feels like "what haven't I done???")

BTW, I'm really enjoying the reader participation. Just what I always hoped for on this blog!!!! Keep writing, keep sharing, puh-lease!!!

Happy Trading

##

5 comments:

  1. I've noticed each day you have better and better winners. Now if you can work on those large overnight losers you'll be cruising upward. As it is you're a day or two away from 2 contracts, so I would expect your account to be in pretty good shape soon! Doing great! By the way, tomorrow morning I start trading /ES in my real account, so wish me luck!

    ReplyDelete
    Replies
    1. Oh, Adam, I wish you the VERY BEST OF LUCK!!!!!! Please let me know how you're doing?!!! Any any insights you glean while trading futures would be most
      appreciated!

      Delete
  2. I don't know if it makes much of a difference to you, but from what I see, it looks like you lost $230 on your overnight trade instead of $350. You bought it at $103.83 and sold it at $103.60. The $50 loss after that relates to another trade. The -300 figure shown + 70 = $230.

    ReplyDelete
    Replies
    1. Really? Uh oh, I need to look at that again! When they "ding" me with that overnight adjustment, and then it doesn't get reversed, I just considered that part
      of my loss. I didn't actually tally the prices. I'll take another gander at that, thanks!! What an astute observation! (it makes a difference psychologically!)

      Delete
    2. You're right! It's $230. How did I miss that? I thought when I sold that darned trade that it was at a minus $50 on my Active Trader page. Not sure why
      it came in as a plus $70? But that eases the pain, somewhat! :-)

      Delete