Thursday, July 29, 2010

Trade: CIB long via calls...loser

I didn't get a chance to update my trades yesterday. But I have a few losers in the accounts now...

One was just entered today and it was rapidly a looser. CIB. Went long at the open based on the %R retest. I want to blame this mainly on entry and lack of stops put in place. However, no matter what the price I would have been stopped out today based on Headley's methods. Also, I wasn't at the computer today so that wasn't wise. Plus I had hoped to get in at the open instead of doing what I prefer and waiting a little bit to let the open dust settle a bit and finding decent prices prior to getting into a trade.

I haven't started putting trade triggers on all my orders to automatically stop my out. After today that is going to change.

Anyway enough of this self flogging. The money speaks for itself. Bad job Jorge. It is that simple really bad job.

CIB - Oct $50 Calls cost basis...$10.70...sold at $8.90...loss of $1.80 per contract and I had 3 of $540 down the shitter.

Of course tomorrow it will add insult to injury and go higher, since it held the 13 day EMA...I am certain of this. 




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