Saturday, May 16, 2009

Discipline ...Discipline! ( 8 of 50)

Note:If you dont follow US options Trading...Reading this would be a waste of time..
You may look at the labels on the right side and choose what is of interest to you!


My tally so far!

Total Trades-8
Wins -7(+13+21+21+18+28+19+28)
Loss-1(-32)
So net=116$ ( I always keep myself motivated thinking this figure times 100 (LOL $11600 in 8 days)

My trading summary for the day = 28$( after commission)

Time Symbol Event Message Qty. Filled
09:32:08 +DAVRF Executed Bought 1 +DAVRF at 3.28
09:32:50 +DAVRF Executed Bought 1 +DAVRF at 3.20
12:19:51 +DAVRF Executed Sold 1 +DAVRF at 3.40
12:47:15 +DAVRF Executed Sold 1 +DAVRF at 3.40



The vertical red line indicates the time I entered the trade and exited!

Today was options expiring Friday...normally market tend to be a lot more volatile than normal Fridays!...
I did check out the economic news...but in my excitement to get into a trade and get out I missed the Michigan Sentiment Index...although I must admit I did realise after I entered the trade at 9:32...well as they say it was too late...and by about 3:10 PM UK time I was making a loss of 74$...Thats all my profit for all the trading days..

The Michigan Consumer Sentiment Index rose unexpectedly....and markets were reacting positively...well I am not a super economist to have guessed that..so the options I had was NOT to trade for the day or get out before the announcement...

I did neither...that comes back to Discipline...Discipline and more Discipline...which I struggle with in my trading mission...
I held on keeping to the view by afternoon...reality will drive the markets than sentiment and I closed the trade with a small profit...Not always will the market follow my logic..if it did I wouldnt be blogging...I was plain lucky....
Happy weekend to all ..And see you all on Monday!

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