Monday, March 15, 2010

03/15 NDX Fast Butterfly (from 03/01)

Ok, last Friday I said the trade would be ok if the market went down on Monday. Sure enough, it did and I got out of the position. My loss on the trade was -5.32% ROI, which is much better than the -12% we were trading at on Friday. So it paid off to have the extra day of patience and not being able to exit actually worked on my favor . I could have stayed in the trade to go up this final 5%, but part of the strategy requires me to get out and “refresh” the butterfly with a new weekly position, so I closed this one to free up my capital to enter the new position for this week.

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