well, this week was a crazy learning experience. i traded the open of aapl and rimm every day, and as an active member of the 'non morning person' team, it was quite a challenge to even get up let alone jump into fast paced trading.
monday was pretty rocky to say the least. i jumped right in to the mix (like i normally do with anything im new at) and made a couple buy zone trades that were profitable. very thrilling!
i got excited and entered into a non buy zone long trade that was out of the zone and the price dropped like a rock. not having been in this situation before i just figured id ride it out...the price would go up!....wrong. i exited -1,000 and ouch that was a hard hit. i realized that i need to stick to the rules and exit asap if the trade isnt going my way. not only that but stick to the buyzone heh.
after that beating i quit for the day to contemplate whether or not i should even be allowed to have a credit card. it was tough looking at chart later on that night to go over what i had done....but i learned A TON.
tuesday was better...ish
i tried my first short and F-ed it up royally. wow the price moves fast sometimes! went into another couple stupid trades on my part...and was down 600.00
funny thing is i was getting a hang of what i needed to be doing...it just took me about 1,700.00 dollars to pay for the experience hahah
i made some good buyzone trades the rest of the day tuesday and wittled my tuesday losses to about 300. a decent comeback! i was catching on.
wednesday i stumbled out of bed just in time to catch the open and i made some profitable trades right away and didnt make any trades after the first 15 min. i was already up about 250 so i just watched. it was definately a great feeling to have made good trades and come out on top for the day.
thursday was the same as wednesday except i pulled in 420.50! no bad trades...what a feeling. i was starting to reel in that horrible two day start.
friday(today...well, used to be) was another profitable day, i made some bad entries early on, but was able to stop loss quickly and gain back what i lost plus come out on top 220.
by the way, i havent figured out on tradestation how to buy in at a certain price and have it automatically set a stop loss for me...can someone point me in the right direction?
over all, this week was probably the craziest half asleep mornings i have ever had. made some mistakes and learned....one thing that im excited about is that my trades were profitable 71.7 percent of the time.
we'll see how next week goes.
