It was an exciting day today as the mkt went up 899 points after being down almost each day for the last two weeks. I could hardly contain my excitement in the morning. I saw some good gains, as the mkt was up, and I had predicted the mkt's direction correctly, from yesterday.
I did a quick trade in the morning, it made me feel good. But that only lasted for a few hrs. As soon as I sold the put, I was holding from yesterday, on the ETF (FXP), it reversed and I felt a great sense of achievement by selling right on time. But soon FXP continued on its earlier direction, moving down, twice as much as in the morning, when I sold my call.
My feelings of greatness soon disappeared and were replaced with the feelings of stupidity.
I also mis-traded GOOG. I had covered 2 calls that I was short of in the morning, and would have been very profitable, had I kept it that way, but after seeing some price action I bought them back fearing the stock was turning around soon. The call's price moved very high soon, turning my gain into a loss.
At one point I wanted to cancel my order to sell short the 2 calls but somehow the web-site was hung and I could not change the order. After I started another window the order was already executed. It could have been a real good day if I did not get carried away and placed that order in the 1st place. I will have to see how it plays out tomorrow.
I also bought some GS calls very close to the session's close. I noticed that it was the only stock on my list that was down for the day while all the other stocks were in very +ve territory. The rally also seemed to be getting stronger, the calls I bought proved to be a good decision so far.
I was very tense all day, every move made me edgy and anxious... the intensity is getting higher. As I need to recover from my losses form a few weeks, I am really intolerant to see any losses these days. when the day starts, I can hardly contain myself from trading. Most of the time the day before, I would tell myself that I will not trade tomorrow and leave things as is, but once the mkt is open, I forget my promise and start placing trade after another... usually ending up changing my gains into losses or sometimes just getting rid of my gains for the day.