Thursday, December 3, 2009

Monthly Recap: November 2009

Well, I am still a bit down with the flue but I wanted to put out an update for the month of November. As mentioned it was an up month yay. Positions from nov 5th till today gave a total of around $2K in gains - I made another $2700 with 2 other trades in the first week that I posted in comments but that was before the "new beginning post" - I am still going count it though.

Now, while it was an up month, I have to admit it was a lucky one that I came out on top as I pulled myself into the greens within a matter of 2 days thanks to our dubai craze. On a total capital of $60K (though never invested more then 30%) thats not quite as good of a return as I was expecting but acceptable.

As you can see the only "real" losers were my longer term position attempts - one would say I learned my lesson before but it seems thats not the case - over $4000 in losses from longer term puts, overexposure and not sticking to my short term trade system - mainly dec spy puts (longer term attempt), AMZN & POT short (overexposure).

If those would have been smaller losers (like they should have been) the month would have been quite a bit better, could have should have would have I know but it just goes to show that not sticking to your system can be devastating.

I do not expect to be doing much trading during this month with holidays and everything else so I am not going to be such a self critic here in December.

One small change on accounts, I am merging the capital for equities and options into one since its a bit easier to keep track of it.

14 comments:

  1. Currently long may not yield much 1101 at most. down in globex possible to 1092 or upto 1085ish. Then we should see rally to 1158-1198 by dec 17.

    this is what other services telling me.

    job numbers will be OK. Most of the down will happen in globex

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  2. I have a buy order at 1086 stop 1084.5

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  3. wow what a move - everything being reversed so it seems.

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  4. covered my IYR position. Look at this move in EURUSD ... incredible

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  5. congratulation chris. good that you stayed with long

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  6. lol I wish. Had posted in the other thread that I closed it last night break even. Did not want to take the risk. Main reason for closing it was lack of recovery off the lows. My stop was only a few points away from close price so did not want to take the risk. My initial position was at 1099 with 1 contract where it should have recovered, a close below 1099 was very bearish and a potential setup for a gap down.

    Also covered my other XLV position. Not liking price action here rather stay 100% cash.

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  7. walking away from computer for a bit. getting some coffee and letting the market find its way - not going to short the 1022 today if we get there - too much risk of a stepping day and the decoupling of EURUSD - scares me quite a bit ...

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  8. EURUSD is currently at an important trendline. While this may favor a break lower (meaning stronger dollar) I am willing to give it a try. Its a very low risk and high reward type of trade as I am risking barely $100 to make $1000 if I am right. Those are the type of ratios I like best and when it comes to FX - believe it or not you can get much better setups with high risk/reward structure.

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  9. well lets hope I did not stop out at the bottom of EURUSD lol

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  10. I got to tell you, when it comes to FX - I have seen it quite a few times now that I got stopped out right at bottom/top by a tiny amount of the HOD or LOD.

    Keep in mind I am quite new to FX (a few months under my belt thats it) so maybe I just need some more experience in trading currency markets as they behave a bit different and move a lot faster. It takes some time getting used to the amount of leverage used as its very different from equities, etcs or even ES futures. One would think ES futures has high leverage already, but looking at FX ... its quite a bit more nuts.

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  11. going for it again ... long EURUSD. Almost hate myself for doign so.

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  12. 3 trades against me on FX today. Total of $600 down on those 3 which is quite a bit considering my FX capital is a lot less.

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