Thursday, June 11, 2009

The Day I almost blown up my account







Thursday 06/11 is the day I have to be remembered.

GS
1st mistake :
I saw a PAP with Ratio emerged and entered before the candle formed perfectly.
Potential Loss : -$100 ( 2 contracts )
2nd mistake :
I don't cut loss early after saw PAP breakthrough against my position. My Loss become bigger
Potential Loss : -$260 ( 2 contracts )
How Fixed Things :
Suddenly I buy 3 contracts to cover my previous loss. If I cut loss early on previous contracts I should Net $25 maximum. Then comes another mistakes.
3rd mistakes :
I bought another PUT at peak and suddenly the market turned against me. My average cost $ 627.5 with 4 contracts and they never saw some lights.
I made a guts to buy 5 contracts ( 1 at the bottom ) CALL and dump my PUT slowly.
To make things shorts I managed to sell my PUT and CALL on top and make a little scratch.

AAPL
1st mistake :
AAPL making a break-up suddenly break-down. I entered the break-down and going up again. My PAP ruined devastatingly.

Breakthrough faked 3 times and my entry lose also. Even I urn around and adding double contracts my position wasn't green. So I got out one by one and managed to book small loss.

Review:
How I hate yesterday market. RATIO not working, PAP've been faked.
Today expecting another choppy market. I don't dare taking too many profit. $20/contract will do nicely

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