Markets were in BEARISH mode with events in Egypt, blame / no blame enquiry commission report on 2008 Financial meltdown. No matter what, money can be made or lost in markets.
We had two Losing trades ( BIDU and RIMM ) and one more winner ( POT ) since last update on here. Details are under:
Trade 9. 2011/01/26
BIDU 105 P Jan 28
In: 0.40
Out: 0.13
Time in Trade: 2 Days
Return on trade: ( - ) 67.50 %
We stayed too long in this trade ( 2 days + ) and then got out too early. As soon as we got out at 13 Cents, this position went to 73 Cents .. classic case of GREED and FEAR. Oh well.
Trade 10. 2011/01/27
RIMM 62.5 C Jan 28
In: 0.22
Out: Expired worthless
Time in Trade: 1 Day
Return on Trade: ( - ) 100 %
Within miuntes of taking this trade, RIMM bounced up and out option was 0.43 .. 100% increase. However, we failed to cash at that time and RIMM never looked back at that level. 100% return WWINNER turned to 100% loss. What a shame but that is how Weekly options work. Got to be awake all the time.
Trade 11. 2011/01/28
POT 175 P Feb 4th
In: 1.50
Out: 1.95
Time in Trade: 41 min
Return on trade: 30 %
That is all for this week. We have so far 11 trades and 9 of those are positive.
Account at Start of weekly Options: USD 2,000.00
Account Value today: USD 2.995.02
Return on Account: 49.75 %
Smile and enjoy weekly down time.
Harry
We had two Losing trades ( BIDU and RIMM ) and one more winner ( POT ) since last update on here. Details are under:
Trade 9. 2011/01/26
BIDU 105 P Jan 28
In: 0.40
Out: 0.13
Time in Trade: 2 Days
Return on trade: ( - ) 67.50 %
We stayed too long in this trade ( 2 days + ) and then got out too early. As soon as we got out at 13 Cents, this position went to 73 Cents .. classic case of GREED and FEAR. Oh well.
Trade 10. 2011/01/27
RIMM 62.5 C Jan 28
In: 0.22
Out: Expired worthless
Time in Trade: 1 Day
Return on Trade: ( - ) 100 %
Within miuntes of taking this trade, RIMM bounced up and out option was 0.43 .. 100% increase. However, we failed to cash at that time and RIMM never looked back at that level. 100% return WWINNER turned to 100% loss. What a shame but that is how Weekly options work. Got to be awake all the time.
Trade 11. 2011/01/28
POT 175 P Feb 4th
In: 1.50
Out: 1.95
Time in Trade: 41 min
Return on trade: 30 %
That is all for this week. We have so far 11 trades and 9 of those are positive.
Account at Start of weekly Options: USD 2,000.00
Account Value today: USD 2.995.02
Return on Account: 49.75 %
Smile and enjoy weekly down time.
Harry
