$6,000 in my account time to trade starting 11/9.... To start, I'm looking for a meager $9,000 gain by the end of the year. I will take options and stocks....and have already bought an online advisory service, but I will use those recommendations to my own advantages. They say buy PCLN November 185 calls at $4.00 or less... I bought 20 shares PCLN at $173.80 They said to sell at $12.50 or higher on the options. I sold my 20 shares at $192.85 (yeah, a little early). Made +$360.92 on PCLN trade.
Bought 140 shares GMCR at $75.20, sold 1 contract GMCR November 75 calls at $2.85. Bought 1 RIMM November 65 calls at $2.15. Total cost for all was ($10,289.48) and yes I'm using margins on this trade as I was only at $6,360.92 before making today's trades. I guess I'll update their recommendations once they close the trades....as they did close the PCLN trade.
Okay, I had to take some losses, and maybe early, but so be it.....still using their recommended trades to make my own trades.... bought back the 1 GMCR November 80 calls at $0.15, I made +$248.51 on that trade. I sold 40 shares GMCR at $67.30 and 100 shares GMCR at $68.0601.....took a total loss on this trade at -$1,060.21. My overall loss is now at -$450.78. I then bought 330 shares of URBN at $32.4399, and I still have the RIMM calls bought at $2.15.....current unrealized gain/loss is +$172.23. Total together is -$278.55 on my $6,000 account.....Overall, could be a better day, but managed my trades nicely and came out better than my expected -$1,000 loss.
Loss -$136.49 on RIMM contract, so bummer there as I'm still learning.....but I did buy URBN shares and sold off on Friday after that nice jump making a nice +$194.30 on that trade. As of right now that puts me at -$392.97. I bought 5 JOYG November 55 calls at $2.10. Unrealized gain here is now $550 this morning and hope I can close out for an nice gain. They still have this trade open, so I'll keep mine open too.
Well, I got their email to close and I jumped out of JOYG November 55 calls at $3.60. Made a nice +$722.47 gain on this trade. I'm up for this account now. $6,329.54 +$329.54 +5.49%
I'm all cash for now, but they do have trades open, and I'll see what I can do with those open trades.
Why did you kill off your first journal? http://www.elitetrader.com/vb/showthread.php?s=&postid=2571108#post2571108
I realized I wasn't making any progress just following trades....so what this new journal brings is the fact that I'm putting in my own thoughts and tweeks to their trades. This time, I'm the guy running the trade, and not just reading and following an email. As you can see, it was a fair struggle, but I'm back up by +5% and hope to add to it with those 150 shares CNQR.....Still hoping to reach $9,000 by end of year, which I think is very possible.
ok so their CNQR trade is now closed, but I still have my shares opened...their recommendation was to buy cnqr november 40 calls on friday at $1.30 or less and closing it our at $2.25 or higher today. Well, I still have 150 shares, and even added 50 more shares of CNQR at 41.25. My total cost is now at $40.65. I also sold to open 2 CNQR November 40 calls at $2.25. My net even is now $38.40. I asked them how CNQR does on earnings and they gave me an average move of +/-8% by tomorrow's close. Well, I guess if CNQR drops -8% from $41, that would bring it to $37.72, and my loss should be only -$136 plus comm. My max gain is $320 for a 2.3:1 ratio. They had some trades out today, and I bought 2 contracts of abc stock at $3.30 costing me -$671.49. I am also using margin, hence, my total risk is actually above the $6,300 cash I have. I am feeling a bit jittery, but guess that's something to consider when trading on my own.....sorry I've been so used to following trades, and putting trades on my own in these strategies are still new.