Tuesday, January 25, 2011

1/25 Daily Summary

First of, thanks for my wife and reader Dave, who gave me feedback on my scaling question. Bottom line: I'll consider this trade a 3 lot butterfly instead of the original 5 lot I was planning on entering. This makes my approach simpler, and eliminates the decision making around adding extra lots or not. At this point of the game, I'm looking for the exit on the 3 lots, it is kind of backwards to go on and add more lots so I stay longer..

That being said, you'll see a sudden jump in the P/L in my dashboard from Yesterday, this is due to the adjustment, I'm posting P/L in relationship to the capital allocate, not the capital I wanted to allocate. I guess that makes sense.. Either way, I'm looking for the exit, and may take it if we get around 10% Tomorrow or so.