Hmmmm NOD, Are you sure you were in the canyon hiking? I could have sworn this was you showing me new equipment in Vegas.....and on that monitor that is SNDA being blown to sh*t I'm sure !
darn this stupid computer won't let me post ANYTHING!!! I took this great pic for you NOD.....where there's a will there's a way! Ill get it to you somehow. Until then...knock em dead!
+ $331 Very little trading, and small size, still in vacation prep mode, so laying low for a while until I get back in mid May. 9:27 a.m.: Placed limit on HANS before the open @ 36.10 and got the fill @ 36.05 for $225 gain as it spiked down for a moment then rebounded just seconds later. I was pleased to finally catch one of these morning volatility plays on HANS. 11:16 a.m.: Short HANS 36.56 overbought, SPY overbought. Covered @ 36.32 oversold for a $120 gain, just .02 cents from the bottom of the move.
Good to see you taking it easy and taking profits. A couple of days like this one and you'll be back on track mentally. And then the sky is the limit...which is a catch, since the atmosphere can only support unassisted breathing up to about 3km or so and...wait, what was I talking about?
+ $75 So, Iâm busy collating bills, dealing with tax stuff, transferring balances, etc, all these pre vacation tasks, while eyeing some charts in between. Saw AZO hitting the high ticker and bought May $165 puts @ 4.60. AZO falls nicely and at oversold I go to sell them for a very decent profit and am quickly made aware that I do not have 10 contracts to sell. Huh? I check and sure enough I bought 1 instead of 10 contracts for a $90 gain instead of the anticipated $900 gain. I wasnât sure whether to laugh or cry. Unbef*ckinglievable. Rule: Donât trade when distracted. Decided to follow that rule for rest of day.
That makes me think of a scary day back in December. I'd been trading stocks in 1000-share lots for the most part. I had 5 POT $55 Dec calls on from 12/4 and POT was still falling the next morning, so I was contemplating whether to put on some additional calls and I got an order ready. After a short time I decided not to do the trade because right about that time I had to leave my office to do a teaching practicum. When I looked at the order I had prepared I saw that I had entered a 1000 in the Qty field! Here are good news/bad news angles of this almost-trade: Bad News: The price of the calls was low enough that the order would've been accepted by my trading platform without exceeding my day trading margin. Good News: If I did not notice that my DT margin had become all used up, I would have no idea of the error and would likely have closed the position end of day, selling the full 10 contracts I thought I had for about a $2000 gain. Good News: I would get a margin call end of day and the situation would become clear to me. Next morning with the price gapped up and rising from the open, I could close the entire remaining position for about a $400,000 gain, or close half the position for a $200,000 gain and held the other half with a trailing stop in place. The Really Good News: If I closed half the position and kept the other half with a stop, that remaining half would be stopped out at a gain of close to $1,000,000 before expiration (we're talking POT from 12/5 to 12/18, a $35 stock price gain, and a $25 options gain). The REALLY BAD news: What if it was the complete reverse and the price gapped down :eek:
My good friend Geez was kind enough to email me this pic he took of my new trading station. You see, the last time I posted a pic of my trading station, my kind friend Mr. Weinstein made it clear that if I were to stand even a fleeting chance of trading success, at least 8 monitors and a new chair would be required.