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Et tu NQ: Trading the Nasdaq e-mini


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Et tu NQ: Trading the Nasdaq e-mini

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  #51 (permalink)
 Bermudan Option 
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Didn't do any DD over the weekend. Damn females and their ability to distract me.

Tried to tighten my stop on KMX and stopped myself out in error. It was for the best because the stock has since traded below my expected stop so I saved at least $10 per option there. Looking for a potential re-entry




As for JCP, I am still in this and looking for an exit because my expected target is kinda close (35.5) to the low of the day (35.66). Here is what the chart looks like: It can retest the trendline even with a break of 36, but coming 10 cents within my stop already, I will let myself be taken out of the market



Here is what my trading looks like. I can only imagine what it would be like if I a) held the March 38 puts to expiration or b) bought the right back month option from the get go. Like they say though, "If 'ifs' and 'buts' were candy and nuts, we'd all have a Merry Christmas."


Right now, my unrealized profit is at breakeven. Panicking on the 12th put me in the red by about $100 and KMX was a loser, but my current JCP puts from the 15th are doing well w/ current value of 1.55. Adjusted my stop to sell if the price rises above 36

Feel free to ask any options related question.

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  #52 (permalink)
 Bermudan Option 
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Got shafted on the fill smh. Market orders for the loss

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  #53 (permalink)
 Bermudan Option 
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Here are a few of the charts I am looking at for March 21 2012:

EMN: A retest of the trendline heading lower on the 30m would be nice. Prefer this than an immediate breakdown because there is no definitive support until 50 level so I can miss +2% waiting for a breakdown that ends up reversing as soon as I enter.



ZION: Long 22 calls with a stop in place for if the market heads under 22. I am expecting a pullback from resistance, albeit temporary as the financial gathers momentum and moves higher.
Ideal scenario: Retest of 21 provides a low risk, high reward entry level.
Pay attn to trendline on the 5m timeframe for a potential entry signal

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 Bermudan Option 
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Scooped up 7 BBT calls on a early morning pull back

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  #55 (permalink)
 Bermudan Option 
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Big gap lower on the open. I had a contingent stop order if the stock fell below 30.9 but that hasn't trigger because I have it scheduled not to kick in until 10am.

In my experiences, a huge gap lower scares the weak money away and then the market rallies. I have adjusted the sell stop to anything below 30.7 once the first half hour of trading passes. I have already lost X amount of dollars to slippage, now I am seeing if I can win some back in a controlled fashion


EDIT: Stopped out

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  #56 (permalink)
 Bermudan Option 
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Contingent Stop @ 37.93 between the hrs of 10am -4pm ET

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  #57 (permalink)
 Bermudan Option 
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Stopped myself out. Haven't experienced volatility like that before. Might have to look at more high beta plays and more liquid options like FCX because I liked the way it moved. I am going to have to play my stops a bit tighter too.


Here is the End of Trade #s:

+$15 call profit (x5)
- $30 roundtrip commission
----------------------
$45 profit


Meh



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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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  #59 (permalink)
 Bermudan Option 
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Went long on these calls. This time around, I am setting a stop based on the calls themselves as opposed to the price action of the stock. Got a crappy ass fill but c'est la vie.

Purposefully bought front month options with the intentions of selling them before the week is over and potentially before the day is over

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  #60 (permalink)
 Bermudan Option 
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Big Mike View Post
A) What are the top five benefits you have seen as a result of regularly posting in this journal?
Too soon to see the benefits but sharing information is getting me interested in trading again

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?
Losing too much money per trade with the risk outweighing the rewards

C) Were you initially reluctant to start this trading journal? If yes, why?
No. Just hard to stay consistent in my reporting/trading with work as a 'distraction'

D) How do you feel, overall, about your journaling experience?
Needs work. Needs to break things down better and suss out my reasoning for trades with more pictures et al.

E) Would you recommend to others that they should also start a trading journal?
Journals are essential to catch patterns that you might be overlooking

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

Coolio

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