Information overload

I can see where this all is going... :)

About 1.5 weeks later and certain things have started to make sense. I know what s&p cash means and what is a pivot. I have also fished out golden nuggets of totally unrelated information such as "70% of all days will touch yesterdays pivots" and "85% of all days take out previous days higs/lows" I have also found several interesting blogs and websites I have added to my favourites like www.alphatrends.net and Traderfeed - blog that have provided me amusement and confusion dureing the 8 hour period I have sat today glued to my computer screen.

I feel like I have just found a start of a path in the middle of an overgrown forest. I have not even cleared the entrance yet, but I can see it is there and it is leading somewhere.

I also took 3 hasty totally silly trades today. It is unbelievable when you read all that information and think "who are these stupid people that trade based on 'feel' and emotion" and the next minute you become one of them. My excuse is that the brokerage account makes up all my losses up to £300 over the first 10 business days. So I tell myself all this is, is practice how to use the brokerage account. I made a £29 loss, but am back in another trade. Also taken as hastily. hehe!

But at the same time its been VERY interesting to notice how I feel when I actually am in a position. I dont think any amount of paper trading can prepare you for the emotion of placing your first live trade. I sat there, staring at every single tick on one minute timeframe and as soon as I was 1 pence down, I panicked! I had an urge to keep flicking in and out the different timeframes every few minutes and I had my eyes glued on my profit/loss sheet on the brokerage accout. So basically forgot every single rule there ever was. And if that wasnt enough, I placed the trade without stop loss in a haste. Unbelievable! I never thought I would be like that.

Anyway - I do feel like I have learned a LOT today. Adn I suppose that is not a bad thing is it!!