Tuesday, January 30, 2007

Tuesday's Trading Results

2 steps forward, one step back

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Well, I wasn't able to accomplish my mini, self-imposed goal of 3 consecutive days of profit. The bulk of today's loss was attributed to selling the CTRP calls at a lower price than yesterday's close. There wasn't too much more that I could do about the trade, except to go back in and start a new option trade when it broke above 73. In the afternoon, CTRP chopped its way up to 74.50. I just dropped the ball on that one, probably was distracted by looking for other trades to make and I didn't do an intraday chart analysis on CTRP.
So, I didn't make any mistakes today, but I didn't reach my mini-goal. Was it a realistic goal? Well, I didn't think that it was an unrealistic goal, but I will have to settle for the consolation prize (ie. mistake free trading) for now.

I'm still holding CRVL, which I picked up @43.63. I will have to do a chart analysis on CRVL tonight, so that I can figure out where to update my stop loss point. I will post it here later once I have finished the chart TA. Once I close out that trade, check MoveTheMarkets for a post-mortem of that trade.

The other thing that happened again today was my laptop getting bogged down. I'm going to have to start reducing the size of my watchlist, it seems to slow down the laptop's ability to update quotes in real-time.

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