Saturday, 03. June 2017
I made a mistake in my CFD account yesterday during the day (NZ day).
I wanted to short Gold as the chart really looked good and i thought its due for a step down, looking at the longer term charts.
So i set up the trade on Plus500 and pressed the button.
Right away i realized i had forgotten to put in my custom position size and had just left in the Plus500 standard size.
So instead of my usual 20 ounces of Gold, i had shorted 200 ounces.
I couldnt take it off right away because the spread that Plus500 makes its money with had put my position $70 in the red. (Thats also the reason why i only want to stay with CFDs as long as i have to be able to have a account big enough to pass the PDT rule.
Anyways, i was at work and i had stuff to do so i monitored it only sporadically, which is another mistake, but it was going my way and was up about $150 after just a few minutes.
So i kept it on and watched it go to $350 before i had to focus on work and left it unmonitored for about 2h. Next time i look at it, its up almost $1000.
I looked at the charts and it seemed like its bottoming out so i took the thing off.
Pretty nice for a 3-4h trade.
I think the setup was good and the exit was perfect as well.
I just have to be more dilligent with watching all attributes before i put on the actual trade.
My last VXX position is still there. Despite the market going up, /VX went up a bit as well. (barely has anywhere else to go anyway, right?) :)
In the ToS account DTT finally followed through and went up nicely.
Taking up the short call was a good decision.
JPM seems to go my way as well, but im still waiting on CORN and X which im long as well as IYR which im short. Im not going to put on any more positions so i can transfer some money over to TW.
ToS paper trading took a bit of a downturn in the last two days.
Im short the market and it just keeps going up goddammit! :)
I just cant bring myself to add long delta at these levels.
That SPX calendar ended up loosing me $400 just because i left it on waaaay too long.
Lesson learned (hopefully)
I am using about 25% of the capital available, waiting for a volatility spike thats desperately needed.
Ive finally managed to listen to Tim Knights segment on Tastytrade again and he reminded me of how energy really should be on the radar to short. So i will be looking to put on some energy shorts next week.
Other than that ive been watching Investors Underground lessons all week and i think next week ill finally start trying to paper day trade the close and possibly the open on Friday night., Its time to start practicing. Goal is still to be able to be constantly profitable by April 2018.
I wanted to short Gold as the chart really looked good and i thought its due for a step down, looking at the longer term charts.
So i set up the trade on Plus500 and pressed the button.
Right away i realized i had forgotten to put in my custom position size and had just left in the Plus500 standard size.
So instead of my usual 20 ounces of Gold, i had shorted 200 ounces.
I couldnt take it off right away because the spread that Plus500 makes its money with had put my position $70 in the red. (Thats also the reason why i only want to stay with CFDs as long as i have to be able to have a account big enough to pass the PDT rule.
Anyways, i was at work and i had stuff to do so i monitored it only sporadically, which is another mistake, but it was going my way and was up about $150 after just a few minutes.
So i kept it on and watched it go to $350 before i had to focus on work and left it unmonitored for about 2h. Next time i look at it, its up almost $1000.
I looked at the charts and it seemed like its bottoming out so i took the thing off.
Pretty nice for a 3-4h trade.
I think the setup was good and the exit was perfect as well.
I just have to be more dilligent with watching all attributes before i put on the actual trade.
My last VXX position is still there. Despite the market going up, /VX went up a bit as well. (barely has anywhere else to go anyway, right?) :)
In the ToS account DTT finally followed through and went up nicely.
Taking up the short call was a good decision.
JPM seems to go my way as well, but im still waiting on CORN and X which im long as well as IYR which im short. Im not going to put on any more positions so i can transfer some money over to TW.
ToS paper trading took a bit of a downturn in the last two days.
Im short the market and it just keeps going up goddammit! :)
I just cant bring myself to add long delta at these levels.
That SPX calendar ended up loosing me $400 just because i left it on waaaay too long.
Lesson learned (hopefully)
I am using about 25% of the capital available, waiting for a volatility spike thats desperately needed.
Ive finally managed to listen to Tim Knights segment on Tastytrade again and he reminded me of how energy really should be on the radar to short. So i will be looking to put on some energy shorts next week.
Other than that ive been watching Investors Underground lessons all week and i think next week ill finally start trying to paper day trade the close and possibly the open on Friday night., Its time to start practicing. Goal is still to be able to be constantly profitable by April 2018.
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