New Blog for trades

This will serve as a nice medium to discuss our trades. It will definitely be better than answering 400 emails a day.

So starting with today's trades. I'd like to say that I was nervous about staying in a trade overnight that was up over 50%, so we exited at 66%. This was Qwest (Q) and the April 2008 $5.00 put.

Next was USG(USG Corp.) we had the May $27.50 put and sold it today for 13%

Last was Cadence Design Systems. it moved nicely today, looked good on the chart but was at
a break even so that could easily turn into a losing situation.

So 66%, 13% and a break-even.

Not a bad day.

In this shot of Q we entered about an hour after the open. I knew by the end of the day I would exit because we were up over 50%. I realize the exit looks perfect, but that was just luck.

If you look at the last 2 candlesticks circled in red, the profit was at $750.00 on the second to last actually for like the last 3 candlesticks and I was just waiting for the market makers to give it up!

Then the very last candlestick made the jump to $1500.00 and I made my exit.

Again it was just luck that the thing bounced hard after that.

Here's Qwest when the trigger signal came but I wasn't paying attention.

So this entry would have been 4 days previous, it would have resulted in much more profit and more confidence to stay with the trade.

The next shot is when I did enter and my best description as to why.

Its called A=C Where you have 3 waves, (price moves in waves, and the length of A (Already present) gave me the confidence for at least the day.

Plus my interpretation of the VIX was bearish and that also gave me the confidence.

Until next time..