Jan 24

full time trader log 2013 01 24

full time traderUnderlying Stock : BIDU

Strike : 100 Call

No. of contracts : 5 contracts

Enter/exit price : 0.55/0.75

Holding time : 5 mins

Net Profit : $92


full time trader

Reason to enter trade:

Waited like forever before spotting this play. Actually missed the earlier signals about 30 mins ago when few long red candlesticks formed with stochastic signals pointing towards reversal. Missed that! Stayed persistent and waited patiently. It came and I bought in this time, though a bit cautious as I broke my rule for not trading after 30 mins market opens. Market and $INDU were generally moving higher, but $BIDU hit several long red candles. When the histogram and stochastic signals were aligned, I moved in for the kill. So, bought 5 contracts, selecting the nearest strike. And struck $92 in 5 mins.

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