Friday, February 09, 2007

Friday's Trading Results

Dear Trading Journal,

Please be kind enough to help me learn how to earn more than my broker....

Read Full Post.....
Bought MA Mar07 125 Calls @0.75 (at around 7am EST), sold for a loss @0.60. Tried to time the bottom there and got my rump roast handed to me, medium well to boot.
Then I tried buying GS Mar 230 Calls @2.80, sold for a loss @2.30. The setup on GS was probably not as good as yesterday's MA trades.
Yesterday, I ignored the market tanking, since I was focused on some winning trades with good buy volume. Today, I continued to ignore the market tanking, and got a bunch of paper cuts: went long, NVL, IDCC, RYAAY, GES, and were stopped out of all of them for small paper cuts which added up to a lot of pain.
Finally had enough sense to think short, and tried a swing short of SVVS @45.26. Yes, I missed out on lower risk short opps @46.50, 46, 45.50 because I was too slow to adapt to market conditions, oh well.

I'm not happy with how I overtraded today, still prone to periodic bouts of overtrading. My only consolation is that without keeping my losses small, and without my Uranium holdings, today could have been much worse.
Added @6.95. Still holding,, and UUU.v.

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