Still Learnin'

I haven't posted the last couple of days. I know ... I am slacking. Truth is, I have been spending my time reading and relaxing in the evenings. Let me do a quick recap of the past 3 days though.

Monday: This was the last day I spent with my instructor and my performance was horrible yet again. I did not have a single winner and extended my losing streak to 17 straight trades! 17 in a row! A monkey could have done better than me. I was pretty devastated and was really second guessing myself. I knew the streak wouldn't last forever, but I didn't really know what I was doing wrong. I reviewed my trades and realized I was just trading to trade and that is never going to be good. But, they keep saying to trade at least 50 times during the day (25 entries/25 exits), so I don't know what to do.

Tuesday: This was my first day out on the trading floor with all the other traders. Up until this point, I had been with all the other rookies in the training room. I was now with the big boys, and it was an eye opener! I could not believe how fast the experienced traders were. It was 5 minutes into the opening and my coach was already in 10 positions! Still shocked from my losing streak, I think I entered my first trade about an hour and a half after the opening - when things had slowed down a bit. I think I lost 2 or 3 times more to extend my streak. My coach encouraged me to trade more at noon, but I was still cautious. I was down $40 or so at that time. Still cautious, I only made two trades that afternoon but both were winners for a total of $140! Again, ironically, one of the two stocks was the former company I had worked for. I guess it is still being good to me even in my absence. Ironically, too, I made the money on a short sale of the stock. (For those of you who don't know, that means I was betting on the stock going down :-). Anyway, I left yesterday with a gain of over $100, so I was happy.

Wednesday: I will have to talk about today in another post as I have to run an errand.

Be back soon!