A Turning Point

Opening balance £287

Closing balance £328

Today's profit £41

Last night's open trade, at one stage £120 against me mercifully reduced to £27 this morning, I hungrily devoured the loss otherwise my actual trading profit on 3 small trades today was £68 playing £5 a point.

I went to work today and immersed myself in finishing my vat return and processing orders. I returned home at 4pm having not traded. I was happy to feel comfortable not trading as most times if I'm not observing the index I feel I could be missing out on potential opportunities. Today I was relaxed and not bothered whether I made a trade or not.

I opened my trading platform to see the index, plot a few graphs in preperation for tomorrow and couldn't help seeing an opportunity.

Between 4pm and 4.30 I made 3 lightening fast scalps, no more than a couple of minutes and this time as I placed the trades I created a very tight stop loss of 3 points. In each trade the 'ticker' moved in my desired direction (probably because I was waiting for the right moment before entering) and as I collected the points so I moved my stop loss up. On each occasion I managed to bring it up to my entry point and the feeling I experienced from playing with 'their' money is almost beyond my power to describe.

I harvested 12 points with minimal effort and all inside 15 minutes. Imagine playing at £50 a point, that's how easy it potentially is to make money.

I have to alter the way I've ben trading, work with very tight stop losses and be prepared to trade for minimal periods each day, maybe even miss some days if I've made my week's target. Staying fresh is key.

I feel today has been not only cathartic but I've had an epiphany, trading with a stop loss and making money in virtually no time with little risk. If I'd traded like this from the start my biggest loss would have been 3 points or £48, shamefully I've lost as much as £400 and £700 in single trades.

I only need a couple of trades in 10 to go my way and they alone will more than compensate for the other 8 tripping out early due to my tight stop losses.

Tomorrow is an exciting day. The Bank of England meet at midday to discuss cutting interest rates and pouring more money into the economy. I plan to open a OCO order (one cancels other) with very tight stop losses and sit back and watch the plot unfold, hopefully I'll be in either way. Choosing my spread is critical though and I won't know that until closer to the time.

Although I've made more in a single day I have never felt this good, nor indeed so confident about the future.