A Tycoon's Trading Diary

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

Wednesday, July 18, 2007

Baits cut too early Thursday

General notes
As the title suggest I was cutting my baits (both CMI and PCAR) too early, as I was rushing out of office and had a quite stressful day at the office. Ok, these are just excuses. But the learning point is that I better not make a trade when I am not in the right mood.

Filtered Trade Candidates for the Day
GAPHV: SCHN (best of the crop nice light pull-back turned already nourth, good if volume arrives)
CENX (nice turn around) TEF (nice volume spike at NH) AL (light sliding) BHP (earlier trade in pull-back mood) CROX (light sliding) PCLN (light sliding)

Trade Session Notes
Nikkei...18015.58...-201.69...-1.1%.
Hang Seng
...22841.92...-215.38...-0.9%.
FTSE...6606.80...-52.30...-0.8%.
DAX...7925.73...-112.48...-1.4%.
8:48:48 AM
CBOE VIX 15.63+0.04

10:21:26 AM MO: slightly bearish
CBOE VIX 16.43+0.80
Market Adv Decl Unch
Nasdaq 1,323 3,707 218
NYSE 782 2,001 128

11:57:41 AM MS: bearish
CBOE VIX 16.72+1.09
Market Adv Decl Unch
Nasdaq 1,321 4,274 223
NYSE 747 2,167 112

11:59:02 AM First ever live trade closed at 5.4 with a $90 profit (less commissions)

12:30 PM-ish Have closed out the CMI trade as well. With a profit.

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