Friday, October 31, 2008

I sold the GS calls fearing the stock will keep declining and my calls will keep losing value. Keeping in mind what the financial stocks has been through, I thought It would be wise to take some profit then non at all.

The FSLR trade was a result of reading about a trade setup last night, in a book titled 'High Probability Trading'. This strategy is to fade a weak move. FSLR had moved $28 yesterday (Thursday Oct. 30). Looking at current mkt conditions, the weakness that is, I thought I should fade the FSLR upward move. My thinking was also complemented by FSLR's opening down. I bought puts in the early morning, imagining I had just caught the wave. Later in the day when the stock stop moving down, I sold some calls against my position to protect against a sudden upward move.

I bought 1 GOOG put just from gut feelings and observing the price movement today. Although, I had been waiting to buy puts on GOOG, since it last move higher, for the last week. My plan was to buy GOOG puts at a much lower price, i.e., if the stock moves higher even more. But watching the stock today turning around from +$12 to -$1, I could not resist and bought 1 put, thinking the stock has just turned around and will keep moving down further.

I did only buy 1 put, although I had a limit order for buying 3 put, but changed my mind at the last minute.

I also wanted to protect myself from a big upward move in FSLR by selling 3 OTM contracts.
GOOG:
BOT to Open 1 GGD XJ GGD Dec $350 PUT Executed $27.10

FSLR:
SLD to Open 3 QHB WT QHB Nov $100 PUT Executed $2.00
BOT to Open 3 QHB WH QHB Nov $140 PUT Executed $13.90

GS:
SLD to Close 2 GS KR GS Nov $90 CALL Executed $10.00

Wednesday, October 29, 2008

strategic breaks

I have realized the need and the benefits of taking breaks from trading, or just monitoring the mkt in general. The rapid price movements, constant ups and down movements of the positions, activates certain parts of the brain (http://traderfeed.blogspot.com/2008/10/when-good-trading-leads-to-bad-trading.html). This interference with the brain leads to making bad decisions. In order to not strain those parts of the brain and allow myself to trade rationally, I need to take breaks from trading and the stock market.

It does not matter how good the opportunities may be (or may seem like) it is essential for my proper performance to take breaks from trading. I do find myself getting sucked into cycles. in order to stop that and break away from cycles, taking time out at regular intervals is a good tool.

Taking breaks will also install the discipline in me to not trade just for keeping my self busy or just enjoying the action. I will only trade when I see a good opportunity, based on my beliefs and observations.

At certain intervals, stocks does not move in any direction, it just stalls like everything else in life those are the times when traders are tested and those who are able to take breaks can avoid losses.


When I take a break and come back I feel like I have moved to another level like a student moving to a higher grade in school.
GOOG:
SLD to Close 3 GGD KE GGD Nov $340 CALL Executed $36.00
BOT to Close 3 GGD KN GGD Nov $370 CALL Executed $19.00

GS:
SLD to Close 1 GS KR GS Nov $90 CALL Executed $11.00
Fed cuts rates 1/2 point, China also cuts
The U.S. Federal Reserve cut interest rates by half a percentage points on Wednesday, joining a new round of global cuts kicked off by China as policy-makers try to soften the world's economic downturn

Dow and S&P slip, Nasdaq sheds some gains after rate cut

Stocks turn higher after Fed rate cut

Dow and S&P slip as GE's outlook talk douses late rally

GOOG 358.00 -10.75 -2.92%
GS 97.66 +4.09 +4.37%

Tuesday, October 28, 2008

exciting day!

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.
GOOG:
BOT to Close 2 GGD KN GGD Nov $370 CALL Executed $11.00
SLD to Open 2 GGD KN GGD Nov $370 CALL Executed $14.60

GS:
BOT to Open 2 GS KR GS Nov $90 CALL Executed $9.85

FXP:
SLD to Close 1 FXP WW FXP Nov $170 PUT Executed $46.00
Market bets on steep rate cut as Fed meeting begins


Morgan Stanley, SocGen, Goldman fall on VW worry


Stocks rise amid global rebound
Asian and European markets rack up big gains; markets here make more modest gains after gloomy confidence and housing reports. Investors expect a rate cut tomorrow at the end of the Fed's two-day meeting. Whirlpool will cut jobs


Stocks soar, but can rally hold?
Traders fret that late selling will cut gains set off by a global rally. Consumer confidence plunges. Home prices are still tumbling, a new report says. Boeing jumps after a strike settlement. Crude oil moves lower again.


Bargain hunters drive sharp Wall Street rally


Stocks enjoy big rebound after sharp selloff



Oil dips below $63 as demand trumps OPEC

Dow soars 889

GOOG 368.67 +39.18 +11.89%
BIDU 208.95 +29.95 +16.73%

MA 136.01 +9.66 +7.65%

FXP 118.70 -64.31 -35.14%

SKF 136.00 -41.99 -23.59%

Monday, October 27, 2008

anxiety in the mornings...

If I wake up late.. I feel as if I am going to miss that day... if I see my position down I blame myself for not being there at the moment... although it may or may not make any difference if I can get to opening or not.. it is just the feelings... I am usually anxious if I miss the opening.

If I do get to the open I feel like I am in control now.. as if I know what is going to happen. It the position is down, I tell myself it is my decision to let the stock go down (or go up for that matter) ... but if I come late and see the mkt already moved up or down, I am upset and anxious, as if I missed a critical part of the trade.

Usually it does not matter, if I can get up in the morning (mkt opening) or not because the mkt always, always fluctuate.

May be missing the morning is missing a vital part of the action involved in my type of trading? That makes me think that I may be trading stocks just for the action. Am I keeping this hobby to get myself occupied with something?
FXP:
BOT to Open 1 FXP WW FXP Nov $170 PUT Executed $36.30

BIDU:
SLD to Close 3 BDU KF BDU Nov $230 CALL Executed $5.00

GOOG:
SLD to Open 3 GGD KN GGD Nov $370 CALL Executed $9.70

Friday, October 24, 2008

GOOG:
BOT to Open 3 GGD KE GGD Nov $340 CALL Executed $23.90

Thursday, October 23, 2008

I am wishing for a quick turn around?

Although, I believe I made a better (thought full) trade today, I was still very impatient. I did not stick to my plan of buying only one contract and then waiting for sometime and adding more, instead I bought all at the same time. The bad part about today was that I promised myself yesterday that I will not trade today.. but I could not resist. My initial plan was to wait for a couple of days after buying the 1st contract and see the stock move before adding more contracts.

Over all I think I am looking for a quick turn around here. I get more intense at times when I see the stock moving away from me. I did not use to experience this type of intensity before my loss or the mkt turmoil for the last few weeks.

Today I almost tried to replicate my previous trade. Since that trade ended up being a success I wanted to do something similar.

I bought BIDU calls at a time when the stock has declined $38. My thinking behind this trade is that the stock has declined excessively, the calls have become cheaper as a result. Buying puts at this point could be more expensive as puts have been bought in higher numbers.

There is more opportunity for the stock to go higher then lower at this point.

Now I need to wait and be patient for this trade to work... just the way I did for the last trade. Initially the trade showed a loss then it reversed and moved my way.

In the morning all I want to see is my account value increase every minute otherwise I get upset.
ISRG:
SLD to Close 1 AXV WE AXV Nov $180 PUT Executed $20.00

BIDU:
BOT to Open 1 BDU KF BDU Nov $230 CALL Executed $12.90
Tech weakness pulls market lower
Stocks slump in part because of Amazon.com's tepid forecast. Former Fed chief Greenspan admits an error on the economic crisis. Dow Chemical beats the Street. Goldman Sachs may cut jobs. Foreclosure filings jump.

Greenspan "shocked" at credit system breakdown

Stock futures fall as recession fears weigh

Bank stocks worldwide tumble

Dow up 172 in late-day buying

BIDU 212.54 -36.55 -14.67%
FSLR 124.74 -12.50 -9.11%
GS 108.58 -6.13 -5.34%

Wednesday, October 22, 2008

a better trade vs a profitiable trade

Today was a different day. I felt, I made a better trade today then just making some money. After losing big last month I have been partly discouraged and dis- hearted. I have been feeling somewhat angry at myself for taking too much risk, worried, that I wont be able to re-coupe my losses.


On the other side losing also made me more shrewed and conservative. I changed my ways and carved out a different strategy, i.e., buying puts when they became cheaper (rather then just following my predictions stock's move).


Although I did monitor the stock and had an idea of which way the stock is more likely to move, I did the reverse of what I will usually do, i.e., go with the flow, instead this time I went with what I expected was future direction and the reverse of the present direction.


I was also more cautious and risk averse. I only bought one contract initially as oppose to buying as many as much money I had left in the account. I added two more contracts as the position started moving my way. Even when the stocks moved against me I kept holding my 1 contract and did not sell at a loss.


The main reason for the success of this trade was that I kept my position small enough to not arouse extreme emotions in me. Although, I did desperately wanted to succeed. Keeping the position small and then adding after, once the stock started moving my way, gave me extra confidence and patience.




At the end I feel as if this was a rather easy trade. Almost like I already knew what was going to happen. I was holding GOOG puts and did not sell it in panic even when they lost value.

Another point I have realized now is that my trades works only if I get at least two consecutive down or up days and if that does n0t happen my trade reverses.
Dow falls 514 as global worries grow

Amazon sees weak holiday sales, shares fall 14 percent

Wachovia reports $23.9 billion loss

Crisis reverberates from Hungary to Wall St.

VIX 69.65 +16.54 +31.14%
SKF 148.30 +16.10 +12.18%
GOOG 355.67 -7.08 -1.95%
ISRG 173.09 -7.13 -3.96%
AMZN 49.99 -0.24 -0.48% After Hours: 42.94 -7.05 / -14.10%
RIMM 48.65 -1.88 -3.71%
MA 140.93 -8.85 -5.91%
GOOG:
SLD to Close 3 GGD WN GGD Nov $370 PUT Executed $34.00

Tuesday, October 21, 2008

After Dow's loss,Apple wows Street

Apple's profits crush estimates; Yahoo will cut 10% of its work force. But the Dow falls 232 points on weak earnings overall and profit-taking. Caterpillar and DuPont miss forecasts. Kirk Kerkorian sells a big chunk of his Ford stake.Stocks to watch:

Apple profit surges, issues safe outlook
GOOG:
BOT to Open 2 GGD WN GGD Nov $370 PUT Executed $24.00

Monday, October 20, 2008

GOOG:
BOT to Open 1 GGD WN GGD Nov $370 PUT Executed $25.30

Friday, October 17, 2008

Dow off 127; have stocks bottomed?

Wall Street slips as recession worries nag

Oil rises $2 on OPEC and global markets

ISRG 189.13 -25.67 -11.95%
GOOG 372.54 +19.52 +5.53%
SKF 135.25 +5.25 +4.04%
GOOG:
SLD to Close 1 GOP JR GOP Oct $390 CALL Executed $0.20
BOT to Open 1 AXV WE AXV Nov $180 PUT Executed $15.80
BOT to Close 1 GGD JN GGD Oct $370 CALL Executed $10.30

Thursday, October 16, 2008

GOOG:
SLD to Open 1 GGD JN GGD Oct $370 CALL Executed $14.70
SLD to Close 5 GGD WT GGD Nov $300 PUT Executed $19.00
BOT to Open 1 GOP JR GOP Oct $390 CALL Executed $6.00
Dow up 401; oil drops below $70

Google defies economy to beat forecasts; shares rise

Banks borrow record $437.5 billion per day from Fed

Dow ends up 401 in another stunning U-turn


FXP 95.34 -19.64 -17.08%
GOOG 353.02 +13.85 +4.08%
After Hours: 389.99 +36.97 / +10.47%
ISRG 214.80 +24.68 +12.98%
BIDU 214.80 -12.40 -5.46%
After Hours: 243.50 +28.70 / +13.36%
FSLR 141.70 +18.18 +14.72%
After Hours: 146.10 +4.40 / +3.11%

Wednesday, October 15, 2008

Feelings of uncertainty…

Weather I am on a winning streak, or trying to recover from a loss, trying to get back in the game. I experience the same feelings, the same uncertainty about the unknowns of tomorrow and the outcome of my trade.

Recently, at one point, I was up a lot. I remember I had the same anxious feelings, as I have them right now after a loss. Essentially now as then I don’t know for certain what is going to happen tomorrow. The worries are the same, when the account was really up I was concerned weather I will be able to repeat the winning streak? I had a hard time containing my self from watching the market every minute of the day. Worried, as I am now, that I need to recoup my loss.

I now realize, that generally, after a loss you are in a better state of mind then you are in after a big gain! In a sense a loss helps me to stop trading for a while, and lets me forget worrying about my next move. At least, for a short time I don’t care. I an not watching my positions as vigorously. It gives me a moment to think about other things in life and I feel relaxed.

After a loss, I realize that trading stocks is not an easy task, and that may be I should nt be doing this. On the other hand a winning streak tells me that I can do this I should be doing more of this, pushing my self harder and harder, stressing myself and eventually taking bigger risks.

If only I could think the same way after a winning streak as I did after a loss, i.e., just stoping to trade for a while, thinking about other things in life, and trying to relax my mind, I probably could do much better with my trading.

Resisting the urges...

Trading is not only watching the mkt and stock prices all the time and making buy and sell decisions. Waiting for the results, accessing your conviction and gut feeling is an essential part of trading. At times it is necessary that we don’t look at the price, the movements as it can (in the very short term) be going against us. That short move can shake us out of a good trade.
Watching the price action, can make you re-evaluate, change your decisions and alter your plans. Only to find out a day later that your earlier decisions were the best ones.
I for me, currently, I am convinced that GOOG will be down further in the next few day, my reasons.
It has moved up a lot $50 in a day (last Monday too fast) and is bound to correct itself.
The overall mkt made a drastic move that day, and will correct itself (which will have an effect on GOOG as well).
The company is reporting earnings tomorrow, i.e.,Thursday, from what I have seen, the last couple of times it reported, is that the stock goes much lower just before the earnings announcement. Which again points to my view that it should keep going down until the close tomorrow.
4. After buying puts on the stock yesterday, and again this morning, the stock has been moving downward, a proof my hypothesis is holding so far.
Although, I have a hypothesis and a strong conviction, I am afraid, that I will start looking up the price (which I usually do) and see the price go up, I will get out of my position, in panic and see the stock tank just after I sell my puts. So for now I am resisting these strong urges and am not following the stock’s movement.
For me lot depends on this GOOG trade’s outcome. Emotionally, I can hardly contain my self from watching stock price and taking action, but at the same time I realize that I need to wait and see and accept the outcome.
The little voice in my head could convince me of something I did not plan on doing. The bottom line is I have taken a position and should be ready to accept a gain or a loss without constantly clicking at the price tick by tick. So far today, I managed to not look at the price action and will force myself to do the same for the rest of the day. It will be difficult at times like this when the mkt is making big waves, but is very beneficial.
Dow drops 733 on economic fears

Dow plunges 733 as new data points to recession

Economic activity weak across U.S.: Fed Beige Book

Recession worry, data drag Wall Street lower

Bernanke says U.S. economy facing big threat

VIX 69.25 +14.12 +25.61%
SKF 135.50 +21.44 +18.80%
ISRG 190.12 -34.20 -15.25%
GOOG 339.17 -23.54 -6.49%
FSLR 123.52 -19.59 -13.69%
BIDU 227.20 -23.05 -9.21%
MA 153.55 -20.52 -11.79%

GOOG:
BOT to Close 5 GGD VP GGD Oct $280 PUT Executed $2.20

Tuesday, October 14, 2008

An emotional bubble...

After a set back in trading. I feel like I am in an emotional bubble. I need to remind myself to stop trading right now as it is not going to be very thought full and calculated moves. I am not going to be as patient as I should be. Every little move in a stock, that I usually can ignore, is making me edgy.
There is a lot of hope working behind the scenes also, hope that I can make it back quickly, as quickly I had lost it. All I need is just one good trade, just like the trade that took it away.
I am unable to stop myself from watching every move in the stocks, trying to listen to every news and read everything I can. Like something will suddenly change and my account will be full again.

My expectations for profits has changed also, if before I was content with $100 in profits now I want (and maybe need) a $1000 in profits, regardless of the situation of the trade.
It is easy to see a loss and say ok, but it is very difficult to accept it mentally and emotionally , walking away without any action. In reality you see a loss and you say to yourself ok no problem losses are a part of trading, but deep down you are planing to recover all the loss in one day with one swift trade. Taking one quick trade after another losing even more.

As today was one of those days where I could have made a good profit but because of the recent activity in my account and the stock mkt I am jumping every move. The fear factor has increased and I am reacting as fast and furious. Today I was holding both GOOG puts and calls which is a better strategy considering the GOOG’s earnings coming out on Thursday. The stock can sharply move either direction. But during the day I talk my self out of the call position at a loss when I saw the stock moving down. Just before that I had sold my puts fearing the stock in moving higher.
In fact, I could have made money in both of them for it was not my high expectation, and not just accepting normal profits. I had bought GOOG calls for $10, I entered a limit order for $21 (more then double the price) of course it did get a fill but I checked it did hit $18 before it fell back to $9 that is where I sold. Last night as I was entering limit order I was thinking of $15 (a reasonable gain) but the I talked myself out of it and the little voice in my head told me that I can make more.
GOOG:
SLD to Open 5 GGD VP GGD Oct $280 PUT Executed $1.75
BOT to Open 5 GGD WT GGD Nov $300 PUT Executed $12.00
SLD to Close 4 GOP JT GOP Oct $400 CALL Executed $9.50
SLD to Close 6 GGD WP GGD Nov $280 PUT Executed $4.90

GS:
SLD to Close 3 GS VP GS Oct $80 PUT Executed $0.25

Monday, October 13, 2008

Taking huge losses

Today was the day when the mkt (DOW) was up 1000 points. I was holding puts on GOOG. I had bought those puts last Friday in fact I had bought too many, then I could afford. Once I take on too much risk, which I do realize soon after, I am unwilling to face the outcome. Under these situations I avoid looking at my account, I would not act to reduce my losses, I just pretend that the stock will turn around soon and everything will be ok.
The problem is that if I have experienced some event the day or week before I expect (or more like hope) that it is going to repeat. I end up basing today’s trade on yesterday’s mkt. But the mkt changes everyday.
Today I was holding GOOG puts bought friday. It has already lost 30% of value. I already was ‘regretful’ of buying too many contracts out of fear (trying to avg down). Over the weekend I had made up my mind to sell the puts as early as the mkt opens and reverse position but unfortunately I didn’t act on my thinking. As soon as I saw the position being down and saw a loss, I told myself to wait and see. It will soon turn around.
There was a little voice inside my head saying "the mkt will turn around soon just like it did last week" and that "VIX is at 60, the mkt is supposed to make big swings". So instead of selling the puts and loading up in calls I ended up buying more puts? Finally, near the end of the day I did buy some calls, but it was late, late enough to take advantage of the 1000 points move.
What I conclude is that I need to stick to my plan no matter how painful it may be to take a loss.
Wall Street rises on bank rescues, Morgan

NEW YORK (Reuters) - Stocks rose on Monday as a push by governments around the world to pump money into the clogged banking system sparked relief among investors and credit markets showed signs of loosening up.

Stocks soar on bank-rescue plans\

Dow up 936on record day

BIDU 266.05 +52.30 +24.47%
GOOG 381.02 +49.02 +14.77%
GS 112.07 +23.27 +26.20%
SKF 123.85 -34.15 -21.61%
ISRG 212.34 +37.33 +21.33%
FSLR 142.98 +25.53 +21.74%

GOOG:
BOT to Open 4 GOP JT GOP Oct $400 CALL Executed $10.00
SLD to Close 6 GGD VF GGD Oct $330 PUT Executed $6.00
BOT to Open 6 GGD WP GGD Nov $280 PUT Executed $9.10

Friday, October 10, 2008

big moves in the mkt makes you do something

This morning I was done trading in the morning... making enough, achieving my goal/target for the day... (being satisfied if not very happy with what I did)... my trade was well enough.. I didnt need to trade any more... but there was a hidden desire/ambition/wish...
I wanted to have the ability to day-trade on Monday. I was short of $500 to achieve that goal. Recently, I have this view that if I can day-trade I can trade better... this deep desire, so I needed to make a trade ... I told my self just one trade.. so when Monday comes I can day-trade!?
I made a small trade buying only three contracts.. it would have been enough to get me the day-trade ability on Monday if it worked.... if not I would loose a little... not too much to heart me...
being successful in the morning trade made me somewhat overconfident... and in an enthusiastic mood... then the mkt was really moving today also ... VIX was 75... seeing the big moves in the mkt like today’s makes you do something. Something you did nt plan on doing?
After taking the 2nd trade, watching it go my way the overconfidence increased... ‘lets take another trade’ I told myself... and bought 3 more contracts a third trade... in short time the mkt turned around.. Reversing my trades especially the 3rd in and generally both of them...
Seeing a loss, my inherent weakness (unable to take a loss) kicked in, I tried to average down buying 3 more contracts of the same as the 3rd trade...
Now by the closing time all three trades were in a losing position, wiping out my earlier gains and then some...
The dilemma is I kept telling my self that I have to just take on risk if I want to make profits... in fact I already had a good enough profit for the day... and needed to be content with profit for the day... but I did nt..
Now that I think about it, it is essential to take risks as long as it is under control and not too big to cause regret if the position reverses.
GOOG:
BOT to Open 3 GGD VF GGD Oct $330 PUT Executed $24.00
BOT to Open 3 GGD VF GGD Oct $330 PUT Executed $26.00
SLD to Close 3 GGD VF GGD Oct $330 PUT Executed $29.00
BOT to Close 3 GGD VD GGD Oct $320 PUT Executed $24.00

GS:
BOT to Open 3 GS VP GS Oct $80 PUT Executed $11.85

Thursday, October 9, 2008

GOOG:
SLD to Open 3 GGD VD GGD Oct $320 PUT Executed $20.40
BOT to Open 3 GGD VF GGD Oct $330 PUT Executed $23.00

BIDU:
SLD to Close 5 BDU JF BDU Oct $230 CALL Executed $6.00

MON:
SLD to Close 3 MON JQ MON Oct $85 CALL Executed $6.20

Wednesday, October 8, 2008

My trading - random guesses?!

I never plan for losses?!

All my picks are random guesses, some of them work some don't...

the ones that work are the good ones...!

the one that don't work are the bad ones!

I only plan for the good ones... don't know how to deal with the bad ones?

When I see my position being down... or going down it makes me anxious... I am faced with an immediate decision to take action... sell or keep?

If the position is up (moving my way) I am relaxed not having to make an immediate decision... I can let it run and make the decision latter... hence no anxiety..

It has translated into "sell only when feeling uncomfortable?"

that is your profit... already celebrate

Today my account had day-trading ability.. so I day traded some GOOG calls (successfully that is) ...
my 1st day trade was successful but not the 2nd one...
I easily bought GOOG calls for $26 and sold it for $29 within a short period of time...
but I tried to do the same for BIDU calls but could not get my 'asking' price ... so I ended up holding the calls ...
that was the problem... the 1st trade being successful.. easy... I felt I could just duplicate that trade anywhere without any problem?...
initially the 2nd trade did start to work for a brief time, i.e., the stock did move higher and I could have taken a profit ... but since It did not hit my target price... I could nt sell and get out like the 1st trade...
I felt very frustrated because of that...
I could have been better off by taking the profits I made form the 1st trade and stop trading for the day...
the problem I face is that once I see an increase in the account one day ...
I tell myself "that is your profit... already celebrate it".
The next moment, however, come and it all changed I get disappointed ... disrupts your emotions...
I try hard to bring the account back to where it was yesterday.. it is due to this strong need to see the account as it was before...I push myself too much hard and take extra risks and as a result over-trade... and loose.
MON:
BOT to Open 2 MON JQ MON Oct $85 CALL Executed $4.30

FSLR:
SLD to Close 4 HJQ VK HJQ Oct $155 PUT Executed $25.00
BOT to Close 2 HJQ VJ HJQ Oct $150 PUT Executed $32.00

BIDU:
BOT to Open 5 BDU JF BDU Oct $230 CALL Executed $13.10

GOOG:
SLD to Close 3 GGD JJ GGD Oct $350 CALL Executed $29.00
BOT to Open 3 GGD JJ GGD Oct $350 CALL Executed $27.30
SLD to Close 1 GGD VL GGD Oct $360 PUT Executed $35.20
BOT to Close 1 GGD VJ GGD Oct $350 PUT Executed $34.00
Fed, central banks cut rates

Stocks storm back from losses

Wal-Mart keeps outlook, Target warns

Retailers report weak September sales

August pending home sales jump 7.4 percent: NAR

Tuesday, October 7, 2008

I don’t mind looking and monitoring my positions when things are going my way...

what made the difference?... I lost a lot yesterday....but I was holding some positions from yesterday that I thought were going to workout today... and they did.

Today was different in a sense that I had prepared for it since yesterday. Both mentally and physically... I had taken some precaution and studied for it. I was looking at my positions at night and took mental notes... then ... I woke up at 5 in the morning which I normally never do.

I was monitoring the mkt an hr before the open.?

I heard some news at that time ... decided to take action immediately at the open... which in reality would not have mattered... since it did not gave me any advantage... but I was mentally more prepared and had relatively more confidence...

3. I also felt that I was more focused today.

In the morning I saw the DOW up 100 ... but started noticing that my stocks (GOOG, GS, BIDU) where actually down at that moment... I was holding puts on those and (as oppose to normal days).. I did not sell in panic but kept holding and even added more ....

Also the major reason was that:

4. the mkt kept moving in the same direction steadily, all day long, as oppose to yesterday when it turned around near the end of the day...

So I think the big reason for today’s success must have been the mkt's consistent move...
since I don’t mind looking and monitoring my positions when things are going my way... I was more focused!!

If the mkt had moved away or my positions had reversed I would not have paid as much attention as I did?
Dow tumbles as financial stocks sag

Morgan Stanley shares tumble amid deal speculation

Bernanke signals readiness to cut rates

Consumer credit marks first fall since January 1998

Panel not likely to call a recession soon

Fear pushes Dowdown 500 points

The Dow tumbles more than 5% despite a Fed move to free up short-term corporate credit. The Nasdaq loses more than 100 points and the S&P 500 drops below 1,000

Stocks sink as panic takes over

ISRG 184.26 -12.86 -6.52%
BIDU 214.44 -13.24 -5.82%
GOOG 346.01 -25.20 -6.79%
FSLR 128.00 -31.71 -19.85%
GS 115.00 -9.00 -7.26%
SKF 140.27 +19.72 +16.36%
GOOG:
SLD to Open 1 GGD VJ GGD Oct $350 PUT Executed $27.00
BOT to Open 1 GGD VL GGD Oct $360 PUT Executed $26.80
SLD to Close 1 GGD VL GGD Oct $360 PUT Executed $30.00

FSLR:
BOT to Open 4 HJQ VK HJQ Oct $155 PUT Executed $24.00
SLD to Open 4 HJQ VJ HJQ Oct $150 PUT Executed $27.00

BIDU:
SLD to Close 3 BDU VD BDU Oct $220 PUT Executed $13.00
GS:SLD to Close 12 GS VT GS Oct $100 PUT Executed $5.00

Monday, October 6, 2008

I freeze when things suddenly change.

that the market keeps going up -> up -> up -> up and DOWN...
and down -> down -> down -> down and UP... when its going up and up I keep going up and up with it ... mentally and emotionally But when it turns around I still keep going up and up... mentally and emotionally
I freeze.. When things suddenly change... my emotions are no longer in line with my actions...
if only I can remember and remind myself .. that the mkt will reverse soon ... and that I need to stop going along... for too long...
that it will soon return to where it was and I will be able to get another ride soon... What happens is that when the stocks are moving up I am happy and excited.... excited... excited...Suddenly when they turn around I am disappointed and saddened... almost angry... during this emotional time I cant make a quick decision... and just let my position go down... or I just stop watching the mrkt...I only like to keep watching a stock when it is moving my way... either moving up when I am long or going down when I am short.... when it is moving in the reverse direction I don't like to look at it... or do anything about it?
BIDU:
SLD 120 BIDU BAIDU.COM INC SPON ADR Executed $209.31

GOOG:
SLD to Close 2 GGD VJ GGD Oct $350 PUT Executed $17.50
BOT to Open 2 GGD VJ GGD Oct $350 PUT Executed $21.50
BOT to Open 1 GGD VL GGD Oct $360 PUT Executed $25.00
Stocks plunge on financial fears

Wall Street tumbles amid global sell-off

Oil drops $5 to below $89 on demand concerns

VIX 52.05 +6.91 +15.31%
ISRG 197.12 -28.58 -12.66%
GOOG 371.21 -15.70 -4.06%
GS 124.00 -4.00 -3.13%
BIDU 227.68 +5.31 +2.39%
FSLR 159.71 -3.48 -2.13%

Friday, October 3, 2008

Dow drops 157despite bailout OK

Profit-taking and skepticism that the financial-rescue package will work combine to pull stocks lower. Wachovia decides to merge with Wells Fargo; Citigroup is seriously miffed

FSLR 163.19 -14.67 -8.25%
BIDU 222.37 -11.15 -4.77%
SKF 110.98 +8.98 +8.80%

meaningless trade!?

Today I did something unusual, instead of just buying the options (calls/puts) I bought 120 shares of BIDU.

Today was a big 'BAIL OUT' day and I was expecting the mkt to really go higher, since, the problem of 'Credit Crises' will be solved with this bail out...

So to act on my thinking I sold the GOOG put I was holding, early in the morning, thinking the mkt is going up a 1000 points...

Soon after I bought 60 shares of BIDU (having a good feeling) @ $240, soon the seeing the stock going down I added another 60 @ $234 ... as the stock keep moving down ... scared!... I bought 3 put contracts... just to save myself from further loss in the stock...

It was all built in my concious that the mkt is moving much higher today... and I need to jump in!

but the mkt after moving a little higher started moving lower... and ended much lower for the day... the news of the bailout succeeding was already built-into the price..

"Did anyone really think the market would sustain today's rally after the bailout vote was taken?? Ummm, wasn't the expectation of passage already built into the morning climb?? Ya think?? And didn't Monday's no-vote meltdown occur after the market was already down on the day (i.e. wasn't the initial cause of the drop)??"
Today I did something unusual I bought 120 'Shares' of BIDU instead of just the options. 3 contracts of BIDU puts.
BIDU:
BOT to Open 3 BDU VD BDU Oct $220 PUT Executed $14.80
BOT 120 BIDU BAIDU.COM INC SPON ADR Executed $237.00

GOOG:
SLD to Close 1 GOP VT GOP Oct $400 PUT Executed $24.00

Thursday, October 2, 2008

GS:
BOT to Open 6 GS VT GS Oct $100 PUT Executed $1.70

GOOG:
BOT to Open 1 GOP VT GOP Oct $400 PUT Executed $24.20
Stocks extend losses as factory orders tumble

Stocks tumble on economic worries

Oil falls 4 percent on economic, demand concerns

Furious lobbying for much-maligned bailout bill

Midday Glance: Telecom companies Midday Glance: Utilities companies
Midday Glance: Staffing companies Midday Glance: Specialty Retail companies

Some House 'no' votes turning to 'yes' on bailout

Dow falls 348 on economic worries

VIX 45.26 +5.45 +13.69%
AAPL 100.10 -9.02 -8.27%
POT 93.51 -34.53 -26.97%
CF 58.00 -30.64 -34.57%
AGU 41.61 -13.29 -24.21%
MA 160.13 -11.21 -6.54%
FSLR 177.86 -19.40 -9.83%
BIDU 233.52 -10.97 -4.49%
GOOG 390.49 -21.23 -5.16%
GS 131.54 -2.96 -2.20%