Week in review, 21 April 2007

General notes
Saturday was a working day here. I could not arrange the eIBD yet, at least they did not get back to me with regards my re-subscription.
The week in review was pretty up and down. I made 3 Tuto trades, and 2 were loosers and only 1 was a winner, at a total $99,76 loss for the week (albeit still virtual). Also, I had not enough time to further work on advanced tactics. So, I decided I keep playing plain vanillas. Then I made another promise to my future self, as I will want to read the Windows to Wealth from dr. Stephen Cooper before I go live (probably around May 6 at the 6th month mark of my trading career).

Watchlist additions and filtered trade candidates
Made a new watchlist, after I have carefully read the Options Central Winter 2007 Newsletter and discovered the one-cent increments option pilot program. This seems a great news not only for me but for all momentum traders working with options. In fact this will make more accurate entries if using market orders. I have only deselected 3 stocks (AMD, FLEX and SUNW) as they were trading below $30.

Trade session notes
Generally I had really little time as work pressure kept growing. Thus, I returned to one of my silliest mistakes and I have bought an expiry one month earlier than I wanted (obviously making a loss on the trade).
Also, I have made some experimenting with trailing stops and used BID as a trigger. It was closing tighter off course. Maybe the last, can be the real version (also it might be the default).

Open positions at market close 20 April 2007

Plain vanillas

(nil)

Advanced positions and legs leftover

.IBMET

IBM MAY 100 Call

$94.58

$0.1

($110.00)

.LMQEK

LRCX MAY 55 Call

$52.77

$0.85

($75.00)