Tuesday, November 16, 2010

11/16 Daily Summary

I shut down the position Today, the market rolled down and triggered all my contingent orders to the down-side, as I wanted to start loading up the next month's position I continued to peel off the spreads and exited the trade with -5.85% ROI. Ohh, well, I did my very best to stay on the game and rode this one as far as I could, was able to recover well from Friday's blow up and given Today was another large down-day and I only lost a few percentage points, that's really good in my mind. Tomorrow I start posting on the new trade, as I only entered it a few contracts (less than 1/3), will try loading the rest of the position as we open in the morning or leave as pending orders through the day. Cheers! Gustavo


Anonymous said...

When you enter your opening orders the next day do you look for a better
price? What if you cant get a better price? If the market makes a big move, do you move with it and move up or down the strike prices or do you use the strikes from the previous day? I look forward to your answer.

Gustavo's Trades said...

Today was an example where I could not get a better price, I filled a few more contracts for a slightly lower price and the market wouldn't fill the remaining of my position, since I had to go to work I left an order there but it wasn't filled.

Just to be clear: I trade 3 accounts at the same time, one of my accounts is fully-loaded, another one is half-baked and the third one doesn't have any contracts yet.. If they get too out of order in my fills, then my PL between accounts will be different. I usually pick the smaller account to manage, and that one is half-baked so far..

Tomorrow I'll have to complete the trade and I'm hopping the price is not that much worse than Today's, we'll see.

If the price move against me (aka big move), I try to maintain the same strikes so it is easier to manage, just get higher fills for the remaining contracts. Unless, of course, if I'm already at adjustment points, then I consider hedging/rolling the original trade and adding the new contract on different strikes.