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!

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