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Tuesday, July 31, 2007
July 31 Trades Update
With the US market going up last night, I buy to close additional ER2 puts last night to free up margin & took additional losses. Some accounts are left intact with healthy profits still but others are either reset to baseline or negative. A good reminder to stick to the rules which often is the hardest part. I can't say enough of this. I reckon that there is nothing wrong with the strategy, its the execution that is the issue. I learn a hard lesson this round. I am still in the game & my journey in the trading world continues. I need to pick up the pieces & move forward. I will also need to finetune the strategies to give it more room for huge moves & also do better in risk & money management. In any case, I opened additional ACH & STLD covered call positions for Aug. On the Japan market, I squared off the Sep N225 21000 Calls options for 1 pt today. I am looking to buy to close the Sep 20500 call options for 1 pts next. At the next opportunity, I am looking to open new Nov N225 calls around the 21000 to 21500 range.
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