Weekly Update for week 15 ended 06/08/2007
Spent a significant amount of time automating an extra strategy. That brings to two the number of automated strategies I have. The first one (let's call it AUTOTRADE1) is expected to add 10% per month to my account, while this second one (AUTOTRADE2) could add an extra 5% - it will probably pick about 5 trades a month. Still planning to add an extra one before the month runs out.
The most profitable trade for the week comes from an unlikely source: OPTIONS. After the sell-off Thursday, I expected some early morning follow-thru Friday. So I put a limit order to buy 20 contracts of MA JUNE 140 CALLS at 2.00 pre-market before heading off for a meeting. The trade executed at about 9.38am before the market rebounded. Eventually sold at 5.1 for a gain of 6K, as the stock continued pulling back. Regret not taking a bigger position. After getting out, I got in on a JUNE 145 PUT on the same stock to my detriment. Lost 3K on that: was chasing it down. First trades always seem to be better planned. Second trades bring in too much emotion. No reason to only buy 4K worth when winning, and buy 24K worth when losing. All the more reason for automating.
Automated trades made 5.7K, while descretionary brought in 5.3K. Withdrew 6K for the month ended 5/31/2007 (awful as it was!)
Spent a significant amount of time automating an extra strategy. That brings to two the number of automated strategies I have. The first one (let's call it AUTOTRADE1) is expected to add 10% per month to my account, while this second one (AUTOTRADE2) could add an extra 5% - it will probably pick about 5 trades a month. Still planning to add an extra one before the month runs out.
The most profitable trade for the week comes from an unlikely source: OPTIONS. After the sell-off Thursday, I expected some early morning follow-thru Friday. So I put a limit order to buy 20 contracts of MA JUNE 140 CALLS at 2.00 pre-market before heading off for a meeting. The trade executed at about 9.38am before the market rebounded. Eventually sold at 5.1 for a gain of 6K, as the stock continued pulling back. Regret not taking a bigger position. After getting out, I got in on a JUNE 145 PUT on the same stock to my detriment. Lost 3K on that: was chasing it down. First trades always seem to be better planned. Second trades bring in too much emotion. No reason to only buy 4K worth when winning, and buy 24K worth when losing. All the more reason for automating.
Automated trades made 5.7K, while descretionary brought in 5.3K. Withdrew 6K for the month ended 5/31/2007 (awful as it was!)
Code:
Balance B/F: 91,566
Gain for the week 11,044
Withdrawal -6,000
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Balance C/F: 96,610
Number of Trades 26
Number of Profitable Trades 14
Since Inception of Thread 2/25/2007 - 06/08/2007
Balance B/F: 76,636
Net Gain (Less Margin Interest) 44,974
Cash Withdrawal -25,000
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Balance C/F: 96,610 (Without withdrawals should have been 121610, up 59% )
Number of Trades 394
Number of Profitable Trades 242
Expected Balance at this time to be on track for Year-End Target :
145,251
Status: Behind Target
Top/Bottom Discretionary Trades for the week
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAINS TYPE
MALFH 2007-06-08-09-37-47 2007-06-08-15-06-26 2000 4000 10200 6150 OPTIONS
PNRA 2007-06-06-09-53-41 2007-06-06-15-29-00 2000 100289 102422 2111 SHORT
MFB 2007-06-06-15-48-54 2007-06-07-15-42-21 4017 75271 74198 -1094 LONG
MALRI 2007-06-08-15-19-16 2007-06-08-15-57-09 6800 23800 21080 -2720 OPTIONS