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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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