A Tycoon's Trading Diary

True story of the making of a tycoon. Options trading, trading systems, wealth, money management...

Wednesday, January 31, 2007

Good Wednesday

Despite the mixed sentiments all my open positions were doing quite ok, including the ALB Mar Call just opened. Although the later went South a bit.

While reading the eIBD
Have noticed that ETFs should be a natural choice for me until I reach the trading edge to train on separate issues. Once I start to fill up my trading account (expected from April on, latest). This idea brings the necessity of working more on my ETF Watchlist.
No new issue found for the candidate list.

Trading template confirmations found
TTC-A - RYAAY (only the volume is a bit shallow), UNH (quite ok). MACDV - none. GAPHV - CMI. All three were input to the daily Trade Candidate sheet.

Trading session
CTRP trailing stop closed out thus securing a $90 profit, closing out at $3.3 - while the daily range gone down till $2.85.
Markets were shaky in the morning, thus I have only put in a 50% trailing stop order for my VIP calls for APR at $3,8. Should the worst happen. I did not have time to wait for the FOMC policy statement. Also, only CMI stood in the right way (Up on good volume).

Open positions at market close 29-Jan-2007
ALB Mar 80 Call $1.95 (-$25)
CTRP Mar 75 Call ($330)
DECK Mar 60 Call (-$200)
VIP Apr 90 Call ($20)