A Tycoon's Trading Diary

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

Wednesday, February 21, 2007

Back in the swing!

General thoughts
Got to revisit an article that I have found yesterday while browsing for FX articles and resources, on indicators to be used for trending and (sideways) trading markets. MACD and RSI where mentioned for a trading market. Now, it would be interesting to see if this can be used in a trending broad market for a trading issue. Also, it gives me a push to get together or seek an RSI trading set-up / template on Wealth-Lab.
With regards MACD I have also figured that it cannot be saved for an after the next day use at all, as it is very perishable.

No new watchlist entries

New trade candidates
TTC-A: FMCN
MACDV: GS, SEIC, USG, WCG
GAPHV: BWLD, FMCN

Market session notes
As far as my open positions are faring, I hope to have a positive open that would let me have a room for a tight (5%) trailing stop at least on the VIP Apr Call. Also, I believe the ACL Call will do better as it was raising on good volume the day before.
Market was going down, so I scrapped my plan and have called it a day.

Open positions at market close 20 February 2007:
.ACLEG ACL MAY 135 Call


$3.70
($100.0)
.LMEB LM MAY 110 Call


$3.30
$30.0
.VIQDR VIP APR 90 Call


$5.40
$140.0