Jul 17

full time trader log 2014 07 17

options trading MalaysiaUnderlying Stocks : GS / TWTR / TSLA

Strike : 177 Put / 37 Put / 227.50 Call

No. of contracts : 4 / 10 / 2 contracts

Enter/exit price : 0.80/1.25, 0.51/0.58, 1.85/1.75

Holding time : various

Net Profit : $176 / $57 / -$22

Been lazy to blog lately. Hope this is not the dawn of an abandoned blog site. Anyway, did a few trades this week. 2 winning positions and 1 losing one. Who says my signalling rules will win all the time? There is no trading holy grail, period.

Jul 10

full time trader log 2014 07 10

options trading malaysiaUnderlying Stock : BIDU

Strike : 177.50 Call

No. of contracts : 2 contracts

Enter/exit price : 1.60/3.50

Holding time : 5 mins

Net Profit : $377

Found some time to trade today. And glad I did. DOW was battered at the opening, fell almost 170+ points in pre-market. “Could be an opportunity tonight.” I heard whispers in my ears. My eyes glued to the chart screens, waiting for an opportunity to pounce, waiting for the signalling rules to come into play. BIDU it was! And hit the home run on this trade. Opened the trade when it was lowest, and selling it at the highest point (check out the screen shot), every traders’ dream! Happened to me for the first time in my entire trading career. God bless!

Jul 03

Independence Day Sale

It’s the holidays, DOW is doing good above 17,000 and some trading results from me.

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It’s the holidays, we have here a special promo on this auspicious occasion. A 30% discount off the usual $49 for the money making guide Reloaded: Forex Binary Options Trading Starter Kit.

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Happy 4th of July, everyone!

May 31

Fan base building

fttrader-freebies-pledgeNot that this website is not great, my friend told me that I am not capturing the essence of social marketing. “Besides good contents, a successful social marketers need to build fans,” that’s what I was told, being told off to be exact. I got this website, blogging about my trade logs, I do also have a fan page over at FB, but I wasn’t much over at my FB page. I should be boosting likes to build fan base organically or employed some tools or providers out there like Boostlikes to promote my page, or even make FB earns a few bucks (from me) and into its bottomline. No worry, I will reap my returns from FB, you know I will! Cheers..

Anyway, back to fan base building. I feel it’s more difficult than my portfolio building on my stocks watch lists. I thought being a profitable trader is enough, I was told otherwise. Being a good full time trader is self-actualization and self-satisfaction, but taking a leap into brand building segment is an entrepreneur maneuver. I know there are some entrepreneurship qualities in me, I wouldn’t have a business of my own if I were denied those qualities.

So, I will start building my fan base. To start it off, I will give out the first two chapters of my money making guide of Reloaded: Forex Binary Options Trading Starter Kit for FREE if my fanpage fb.com/fulltimetrader.net successfully accumulated 200 likes in the next 14 days. That’s my guarantee gift! So, go on and hit the like button!

May 09

full time trader log 2014 05 09

options trading MalaysiaUnderlying Stock : AAPL

Strike : 587.50 Call

No. of contracts : 2 contracts

Enter/exit price : 3.66/4.20

Holding time : 36 mins

Net Profit : $105

Only managed to close this position in a profit after a long frustration 36 minutes wait. It could be sooner, but was again too greedy. It was up to my target price of $4.20 but I shifted the goal post to $4.30. It was down as per the signalling rules and had to wait for another cycle before its reversal. Luckily, AAPL was just moving sideways thereafter, if not, my cut loss limit would have been hit. Cursed myself for being greedy again!

May 05

full time trader log 2014 05 05

options trading MalaysiaUnderlying Stock : AAPL

Strike : 587.50 Put

No. of contracts : 2 contracts

Enter/exit price : 4.27/4.80

Holding time : 2 mins

Net Profit : $103

DOW was down almost 120 points in the first few minutes of the opening session today due to China data and Ukraine jibes. AAPL was hovering unchanged, directionless, did not know if it should follow DOW downwards or defy the fall as analysts had just upgraded the stock this morning. AAPL chart was heading upwards and defied the DOW downtrend, but from experience, it will always retreat at some point. This is where the signalling systems and rules come in. Cool $103 in less than 2 minutes. Confidence is slowly creeping back into this full time trader wannabe. Cautious not to be over-confidence or the market will KNOW.

Today, I am gonna write a little more. One of my followers asked me, “Why I only trade once a day?” Well, I did try trading round the clock when I first started. Later, when I did a post-mortem, I found out that my trading results were not as good as trading only once a day. I figured out that my emotions and psychology did the damages. I was eager to trade, to profit. I was GREEDY. And emotions took me out. That’s why I restricted myself to just one trade a day. Win or loss, just the one trade. Place my focus on just one trade and it works. Options trading in Malaysia works for me.

May 01

full time trader log 2014 05 01

options trading malaysiaUnderlying Stock : AMZN

Strike : 307.50 Put

No. of contracts : 2 contracts

Enter/exit price : 2.79/3.05

Holding time : 13 mins

Net Profit : $49

Today’s trade was a bit off. Came home from dinner late. On the way back, told myself that I should not trade since I was late and not mentally prepared to do this options trading in Malaysia tonight. Kids were bathing. Was waiting for my turn and I got itchy. “Login just to see only, not trade,” I told myself. But one thing lead to another, I was looking at the charts and selecting strike prices and then clicked the Buy button. Was eager to trade! Chart signals were also not fully aligned, only 2 of the 3 indicators were matched, but I still opened a position. It was green for a while, yet to reach my target sell price, then it went against me. It was slowly moving away from me, minutes by minutes as I stared at the AMZN chart. I should have cut loss, but chart signals were about to reverse, so I held on. It was some miserable 6-7 minutes. Then a big drop on the AMZN and DOW. Took profit and ran! Gotta enforce the psychological wall again! Breaking my own rules!

Apr 30

full time trader log 2014 04 30

options trading malaysiaUnderlying Stock : AAPL

Strike : 592.50 Put

No. of contracts : 2 contracts

Enter/exit price : 4.10/4.50

Holding time : 4 mins

Net Profit : $77

Did not open any position during the first 15 mins of the trading session in anticipation of the Chicago PMI data release at 9:45. The result data was above market consensus by $INDU was’t impressed with the results, bounced in the range of -20 to +10pts. But AAPL chart signals did form a great trend to open a Put position. Bought 2 contracts at the closest strike and sold in under 4 mins; and calling it a night! Options trading in Malaysia can work, switch on laptop and login to Interactive Brokers and Thinkorswim at 9:15pm, read some market news till 9:30, enter and exit position by 10:00, logout from IB and Thinkorswim by 10:01. Haha… don’t be too cocky or the MARKET will know!

Apr 29

Greed and Fear

full time traderYesterday’s trade, 04.28.14, on NFLX was my demonstration of greed. Well, come to think of it, it comprises both greed and fear.

I remembered my coach for options trading strenuously discussed about greed and fear when trading the market. He told us that by becoming a successful trader albeit full time trader, one need to master #1 “Money Management” and #2 “Greed and Fear”. So do most of the trading psychology books out there discussed and prophesized about these two elements. The two taboo words in the universe of stock, forex and options trading. Both greed and fear are inter-related.

Greed is when an opened position records a profit with the trader unwilling to sell, hoping it will still rise higher in price and hence pocketing more profits. Trader would keep adjusting the sell price upwards hoping it hit his/her next target price. This is Greed. Fear is when an opened position goes against your expectation and emotions started to conjure inside you, swirling and eating you from inside until you break and decide to abandon all planned strategies and system, if any, and act impulsively to relief oneself from the pain. This is Fear.

Back to yesterday’s trade as example. I opened the position with just 1 contract, chose the closest strike price and paid for high option’s premium price of $6.70. When the position turned green from red, with the chart signals continued to trend upwards, I adjusted the sell price from $7.00 to $7.15 to $7.30 and lastly to $7.50. I was greedy. The trading showed that that I was the only one on queue at $7.50 but the order did get to fill. Price then went spiraling down from $7.45 to $7.10 then $6.65. Fear kicked in. I was constipating then. Emotions started to swirl and play in my head, condemning myself for not letting go when I got a cool profit to pocket. The position then went back up to $7.30 and got filled at $7.50. Fear of losing again, conjured me up and I was relieved to be able to close the trade with a profit of $72 from a negative position 5 minutes earlier.

Lesson: First I was GREEDY, then FEAR kicked in and I closed off the position without looking at the chart. But after I sold the position, the price shot up from $7.50 to $9.30 under 30 minutes and $13.50 by closing bell. So, was I right to sell the position at $7.50?

This is GREED and FEAR working hand in hand, without fail in any trade, to mess the mind of a full time trader.

Apr 28

full time trader log 2014 04 28

full time traderUnderlying Stock : NFLX

Strike : 305 Call

No. of contracts : 1 contract

Enter/exit price : 6.75/7.50

Holding time : 18 mins

Net Profit : $72

Was greedy on this trade. NFLX was heading towards a rebound based on my charting signals after a $22+ decline. Chose the closest strike at a big premium. It was red at the beginning, paper loss of $45 before it rebounded. Could have taken profit when profit hit $50 the first time, but was greedy. It then moved down again with my position having just a $15 profit. Unsatisfied with the low profit, held on to the position even though signals were pointed towards downtrend. And it did, my position was then in negative territory again. Luckily it was only a slight fall, it could be worse. Learned the lesson, and took profit at the next upside reversal at $72 after brokerage fees. Never never be greedy again! I was lucky! And counting on luck is not the way to trade the market.

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