Tuesday, March 23, 2010

03/23 NDX Fast Butterfly (from 03/08)

No pull back Today.. Well, the position hit the skids and now I’m taking it off. I removed the bottom butterfly (had to trade each order separately) and will continue on my way to the exit Tomorrow. Looking back, there was one key mistake on this trade: buying that extra long 2050 call.. If it wasn’t for that, when we pulled back on Friday I’d have quite more profits on the table to close the trade. The fact I didn’t have profits, and quite honestly the fact I saw the bearish close on Friday as an indication of pull back caused me to leave the trade on for 2 days too long.

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