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Sep 22

full time trader log 2012 09 20

full time traderUnderlying Stock : NFLX

Strike : 57.5 Put

No. of contracts : 10 contracts

Enter/exit price : 0.90/1.00

Holding time : 6 mins

Net Profit : $84

 

full time traderReason to enter trade:

Both $DJI and NFLX were on declining trend when I opened the position. I was a bit “fortunate” at exit point as it was only the first red candlestick bar when I exited. Prices moved fore and back but not hitting my limit price set at $1.05. The highest was $1.03, downed to $0.98 and backed up to $1.03 a couple of time. Got a bit irritated and exited at the first red candlestick bar. I was fortunate that within 5-10 seconds after I exited, it formed a long green candle. Was it luck? May be not. Remembered a quote, “Amateurs chase gains, professional traders control risk.” ROFL, I am moving towards the latter.

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