Disaster

Dead Cat Bounce or Everything OK Now?

August 9, 2011

… according to some, the 6th largest daily drop in the history of the the stock market.

Click to continue reading “Dead Cat Bounce or Everything OK Now?”

Read the full article →

Sticking With the Same Time-frame

November 2, 2009

Since my self-induced weekend portfolio disaster I was looking for another entry into the market on the 30-min chart. That came at 12:16pm today when the 5-min chart and the 30-min chart agreed.

As long as my position doesn’t go negative I’m going to stay with my 43 Nov Put for the day at least. I actually had sold the same put at close on Friday with the thought that you never hold a short-term position over the weekend. So buying back that position was a natural. I got it for $2.02 after Friday’s $2.30 sell. Can’t count it but it was the right thing to do.

Remember, the rule is “Protect Principal First”. Currently my position is up 22 cents but was up as much as 38 cents. I mention this because sticking with the 30-min chart will give me plenty of time to sell at a profit even if it won’t be at a high.

Read the full article →

The Largest Loss Yet – I Wish I Was A Computer Nerd

November 1, 2009

Since I posted my virtual trade book I made 4 trade for a total profit of over $18,000. Today, I suffered a disaster that I won’t be able to over come. Those trades are gone.

During system changes I improperly restored the wrong version of my spreadsheet and wiped out everything I’ve done since 9/21/09.

So in keeping with the principles of integrity I must use the latest available records of my trades which is the one posted in my virtual trade book to continue. All posts pertaining to any October trades will be eliminated.

This wasn’t a trading error. If I was using an on-line virtual trading platform this wouldn’t have happened. I won’t change to an on-line service because of the legalities encountered when I first checked into using them for my blog.

So, Happy November everyone!

Read the full article →