Tuesday, December 14, 2010

I lost $9 today

believe it or not I actually feel good about that, there was some serious choppiness that cost me $100 in the futures, a problem with the platform that cost me $60, and I had a fat finger mistake that cost me $40. And, I was in the market all day.

The futures issue is correctable, I didn't use use all the data I had when I entered and got chopped up on a couple of trades. However, I still ended up upon the day on the futures.

I've also learned that I can cut commissions cost by over 2/3 by switching brokers. It doesn't sound like a lot, $1 for a trade as opposed to $3.50, but I had 18 futures trades today, and that's $45 right off the top and can make the difference between an up day and a down day. To put it in perspective if I can make $200 a day I can make a living, that would have been 25% of earnings. It would have meant that today would have been an up day.

I made many, many good decisions, and the ones that didn't go well I got out of. My discipline was very good. A fat finger mistake (buying more when I meant to sell) is a form of discipline and I need to have zero of those mistakes. I had a problem with the platform in a pre-market trade and that cost me, but now I know how to execute properly.

Believe it or not this is a good day. I was in the market all day and came out at about even. I'm very happy with that.

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