TRADE and some personal notes.
Sold JNPR Aug 160s Puts - 2 contracts at 28 for a value of $5,600. Ticker JUDTL.
I'm still holding:
RMBS AUG 50s Puts - 26 contracts for an estimated value of $2,600 Ticker: BYQTJ
RMBS AUG 75s Puts - 2 contracts for an estimated value of $1,850. Ticker: BYQTO
Cash $5,600 (Today's proceeds) + $6,625 (existing cash) = $12,225.
Total Account Value = $16,675.00
Total estimated profit = $6,665 or 66.6% in 1 week.
I believe we will see a relief rally next week.
I'm toying with buying calls on a few of the beaten up favorites like BRCD, CREE, BRCM, JNPR and others.
However, I'm still worried about the wave of margin calls that will be coming in through out the mass of electronic investors.
I sure wish I had been trading the way I have been on this thread.
In real life I lost a bundle this week by banking on CREE.
Even though I continued to point out their "Head and Shoulders formation all week long (on the CREE thread), I still bought into them.
This cost me dearly. My portfolio has sunk down far enough to lose all of June's gains.
This exercise of "Playing it on Paper" is helping me to learn that I feel better at being a trader rather than a LTB&H investor.
I'm much better at judging the direction of my stocks when I'm not emotionally attached to them.
I think I'm discovering myself.
Although I never like to play the short side of the market, I'm now realizing that playing both sides is more in tune with who I am.
I have ups and downs, much like the market.
At times, I feel like I'm in sync with the market.
It is at these times that I can take the greatest advantage of my choices.
Instead of suffering through a tough period of time with the down slope of the Naz chart. I can now take advantage of it.
I'm now finding it essential for me to learn TA and Options trading.
OR
I should buy a few long positions and stay away from the message boards and ticker so that I don't sell on the bad days...
I'm just not cut out to watch my thoroughly-thought-out picks sink 30% in one week.
It hurts too much.
I'm still going to play this on paper until I learn a lot more.
At least now, I'm beginning to realize what type of investor I am.
-TraderClappy
P.S. This message does not intend to say Long Term investing is wrong.
I'm merely questioning if it's a style suited for myself. |
