Sold GOOG MAY 130 calls at 4.4 at loss. This is ok as cut loss fast is way to survive.
Got back at 3.8 and didn't sell at 4.4 when it's rebounding. Lesson 1!!!! Too greedy!!!! Ignoring turn around signal and let greedy in control.
Sold at 3.5 at loss and didn't buy puts as planned yestoday. Lesson 2!!!! Not executing plan!!! This is the time to get in puts according to intra-day chart even put is not at the best price of the day.
Bought back at 2.65 as GOOG approaching support area at 228.3, and didn't sell at 3. Lesson 3!!!! Neglecting reverse signal and let emotion in control!
Didn't buy put at 3 even order is ready. The put worth 4 now. Lesson 4!!!! Changed plan at will. and don't have follow on plan.
The last position now is break-even, but very possible to turn to loss tomorrow. Lesson 5!!!! Carry option position overnight to Friday! General rule should be closing option positions before Friday.
Forgot to put LNG. It's my put candidate of last night's research. Lesson 6!!!! Write down all research result. Or it get forgotten.
Lesson 7!!!! From GOOG intra-day chart, the up momentum is fading away, should switch to do PUT options instead of CALL options. The trading plan is not well planned.
Today I broke several rules and get punished. The penalty is not big yet. But, a 10k profit day turns to a 2k loss day. And there are several lessons learned. To not make same mistakes again is crucial to future success.
General Market:
EUR gap down for the second consective day. This is still a myth to me. From the trend of EUR this year, looks to me the depreciating US$ vs EUR has reversed. Expect more down of EUR ahead. I expect EUR down to 1.23 area in 3 month.
Oil big down for the second day, and comodities like metal, coal all down, implying a slowing economy, and coincedence with today's WMT warning.
But according to my personal experience, the job market now is very good and better than last year. So what does this mean? Strong job market will spur spending and thus inflation ==> FED raise rate? and coming with slowing economy at the same time? I'm lost here. and something is wrong.
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Well, Christmas is over and we're all getting ready for the new years and there aren't many trading days left. Although I'm still trying to grapple with where the dollar's headed next year. My feeling is that it's going to be much the same as this - all over the place, but possibly on the ascendant over the year, mainly due the instability in the Eurozone. And as for stocks, I think the safest thing is to stick to trading the indices. There's still too much downward pressure.
If you do have a moment, please take a look at my new site on: Option Trading .
A merry Christmas to you and yours! Amon
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