iceman's options trading journal
- Thread starter iceman1
- Start date
really didn't want to put on more trades - so missed a golden entry on CME this week --
ever notice how some eqiuities you are just in sync with?!
CME is is one I seem to do well with all the time. Maybe its because I'm living in Chicago?
So the bad news is --- I missed an easy 12 point move on CME--
---- the good news is -- the market is open next week and tomorrow.
ok
gonna start posting trades this week-
not the open ones that carried over from last year-- such as short straddles and spreads- of which I have many
but new ones.
today:
bought 6 PD MK (phelps Dodge Jan 155p) @ 4.25 avg (in IRA account #1)
stop 3.5 (then will look to re-enter)
CME
scaling into CME Jan 370c --
bought 2 @5.90 (no stop)
order buying 4 more @ 3.90
order buying 4 more @ 3.20
gonna start posting trades this week-
not the open ones that carried over from last year-- such as short straddles and spreads- of which I have many
but new ones.
today:
bought 6 PD MK (phelps Dodge Jan 155p) @ 4.25 avg (in IRA account #1)
stop 3.5 (then will look to re-enter)
CME
scaling into CME Jan 370c --
bought 2 @5.90 (no stop)
order buying 4 more @ 3.90
order buying 4 more @ 3.20
PD
sold 6 PD MK @ 5.80 (didn't get the top price- but timing was impeccable - thus I feel confident I will be able to succesfully trade PD -- all year)
+ 960
well done
will look to re-enter--- as my bias is this stock gets hammered this Q - if it wasn't an IRA- I would backspread the position. But 1K overnight ain't bad to start off the year in this IRA account on ONE small trade!.
still long CME
looking to buy PD calls
PD
in IRA long 6 PD AI (Jan 145c)
entered @ 7.50 TIGHT stop
only reason = playing the gap lower (from this morning) to fill or partially fill tomorrow or Monday - thus a TIGHT stop as this stock is very overbought.
Notice how it almost filled the small gap higher from 1/3/06-1/04/06 with this move. NOW IF I was paying more attention instead of having WAY TOO MANY open positions to follow------ I would have scored another $1100 on my PD puts-- however I am short calls on PD in my regular accounts which I DID NOT close -but which were underwater until today- so that is some consolation-
--- but not much!
---- got out WAY TO EARLY on the 155 puts - left over 1000 on the table on a SIX lot!
--- will post my thoughts on early exits ! It is the one area for improvement - but with me there is a concrete reason for it which I will share for whatever benefit it might be for others. Doesn't pay to be a great trader (or should I say you CAN'T be) IF you continue to leave too much on the table --- after making repeated surgical entries!
Ice
