"The only way to trade with Fibonaccis" journal

Basically, since I have no way of predicting where price is going to go, there's no reason for me to sell any calls since I'd probably pick the wrong direction anyway.
 
7/26:

Open positions:
SPY: $2,904
SH: -$836

Net for this trade:
$550.64 (estimated dividend payment)
$2,068 (net SPY/SH position)
-----------------------------
$2,619.64

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"I never get in at the bottom and I always sell before the top"

-quote from Reminiscences of a Stock Operator, when Livingston is quoting 'old man Rothschild'

:D
 
I think I'm going to start a new thread for my next trade. This one is too long.

I'll post the totals for this trade later. It's not as high as I wanted but what are you going to do? Had I known price was going to go higher I wouldn't have closed my position.
 
7/27:

Closed positions:
SPY: $4,360
SH: -$1,377

Net for this trade:
$550.64 (estimated dividend payment)
$2,983 (net SPY/SH position)
-----------------------------
$3,535.64

So this trade kinda didn't go anywhere despite being open for a few months. And of course, as soon as my sell order gets filled SPY shoots straight up another full point :D

I sold SPY at 0.04 less than my initial SPY purchase on 4/8/2012, so I guess I did better than buy and hold.

I will make a new thread for my next trade. This thread has gotten too long and was originally started with daytrading which I haven't even done in a while.

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