Thursday, January 21, 2010

01/21 NDX Iron Butterfly

There are times when you’re the hunter, and times when you’re the prey.. What can I say, NDX hunted down my stop Today.. I had a contingent order to dump the PUT at 1885, NDX traded up to 1885.01 and then proceeded down, and down, and down…

This whipsaw action ripped the trade P/L by too much, it is at the stop level. I've decided to write the PUT whipsaw off as an educational tuition and want to keep on managing the trade. Of course, if we keep losing money I'll pull the plug. My MAX stop is at 20%

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