I kind of sweated about what will happen with my trade (especially that I told you guys that I’m “good” whichever way the market went, I’m still a little nervous). After all, it is my first week trading again. Anyway, the US Market rallied strongly on Friday(Saturday here) which I expected togive a big boost to Asian markets today (Monday). The EU did not come up with a stellar result as yet, more like “juicy tidbits” that keep us wanting more, but the Australian market rose throughout the day.
STO rose moderately by lunchtime, (+25 points) bringing me closer to breakeven territory. The STO premium I paid was 7.5 cents and by then, it’s value is between 12-15 cents. My breakeven was 17 cents
Premium paid = 60
Fees (open and close) = 74.22
Breakeven = 134.22 or around 17 cents per share
How do you think I felt? A bit excited but a bit worried. Why? The market is pretty volatile lately and the US (Dow Jones) might have done an “advanced celebration” on the EU debt issue since it rallied 267 points on Friday, so I attended to my work in the office to stop myself from taking the (small) profit that I’ve made by mid-day.
Then I remembered that I haven’t done my my trading procedure – I skipped doing it early in the morning (as I was preparing tax filing), so I went in did the preparation steps, then the monitoring part where I noted again, my system components, breakeven points and the profit-taking exits. Felt better after that (I guess it’s from being “clear” on my targets)
After lunch, the price is still up at the same level – which is a good thing, meaning it has not dipped due to low volume of buyers, there is sustained interest to buy and in the afternoon, actually started moving up faster. I reminded myself about profit-taking “guidelines” – that if the market is moving fast in your favour, sit back and let it give you money!
The day ended 12.52 up 42 points, which is a strong move up (against the 5 points move up the previous day).
We’ll see what will happen today (Tuesday). US Market was up by as much as 140points but now at 94 points with 1 hour left to close the session.
That’s the trade so far! With the 2 opposing positions, I am profitable.
It’s a guilty pleasure and I want more.
Result for 2 Opposing Trades
