Thursday, September 18, 2008

coffee, toronto60, silver

item__________: silver
units__________: 1
order type______: market
trade type______: long
entry date_____: 09/18/2008, 21:11
entry price_____: 12.11
initial stop-loss__:
new stop-loss___: 12.22 => 12.66 => 13.13 (09/22/2008)
exit date_______:
exit price______:
profit (loss) in %_:
profit (loss)_____:
reason why + strategy: after selling all silver positions earlier today (thanX goodness before the today's sell-off late in the night :o) i felt so bad without any silver. at the market low 11.77 i wasn't sure the temporary sell-off was over (never catch a falling knife :), then i didn't had the needed patience to get an excellent filling so i removed my limit order and bought 'market' at a not very cheap point ....

item___________: toronto60
units___________: 1
order type_______: market
trade type_______: long
entry date_______: 09/18/2008, 20:17
entry price______: 736.3
initial stop-loss__:
new stop-loss____: 763.7 (on 09/19/2008)
exit date_______:
exit price_______:
profit (loss) in %_:
profit (loss)_____:
reason why + strategy: just an impulsive trade by watching the market movements (as dow jones rallied few hundred points in 30 minutes)

item_________: silver >> position CLOSED
units_________: 1
order type_____: market
trade type______: long
entry date_____: 09/17/2008, 18:33
entry price_____: 11.80
initial stop-loss__:
new stop-loss___:
exit date______: 09/18/2008, 19:48
exit price______: 12.75
profit (loss) in %_: 8.05%
profit (loss)____: 0.95 => 95 usd
reason why + strategy: today's sell off in stocks and especially in financial sector (nasdaq100 dropped -5.31%, dow -4.08%, AIG -45.33%, morgan stanley -24.22%, wachovia -20.76%, ..., goldman sachs -13.92%, ...) and my slightly higher overall account size (because my remaining silver position increased already about +9%) allowed me to buy a 2nd silver contract at 11.80 usd. well, i could also buy it at 11.44 half an hour earlier but i just returned home from my office and preferred to have a dinner and to think about possible trades :-)). folks, even when i've entered the silver market soooo late, the price moved intraday up to 12.13 (!!). when will i sell this position? hopefully at much, much higher levels, maybe somewhere between 15 and 20 dollars :o))
lessons learned: sometimes it is profitable to liquidate a position on intuitional reason! one hour later fell silver to 11.77 and my position would lose about 100 usd and switch a winning trade into a loser :o). is there any better exit-strategy to fit that volatile markets? sure, but i have to find it! maybe i could place some new limit orders after the price reaches new highs, couldn't i? well, it will be difficult as i can't look to often at the markets at work and call my broker to reset my stop-loss or protect-profit-limits :-)

item--------------: silver >> position CLOSED
units--------------: 1
order type--------: limit
trade type--------: long
entry date--------: 09/09/2008, 15:11
entry price-------: 11.91
initial stop-loss--:
new stop-loss----:
exit date---------: 09/18/2008, 19:40
exit price---------: 12.77
profit (loss) in %-: 7.22 %
profit (loss)------: 0.86 => 86 usd
reason why + strategy: i felt that the price of silver is soooo cheap (temporary high in march 2008: 21.27 usd), therefore i've opened an initial position and didn't set a stop-loss order. the major risk for that trade is the possibility of further recovery of usd (against other major currencies, not in terms of buying power :-), which is a huge bearish factor for precious metals.
lessons learned: see above + remember: as long as the winners win much more than the losers lose, it's gonna be good :o))

item___________: coffee
units___________: 1
order type_______: market
trade type_______: long
entry date_______: 09/18/2008, 15:00
entry price______: 133.9
initial stop-loss__:
new stop-loss____:
exit date_______:
exit price_______:
profit (loss) in %_:
profit (loss)_____:
reason why + strategy: i considered to jump into the market as the coffee price was near the 52 weeks lows and there is usually a strong seasonal picture moving coffee much, much higher to the end of the year ...
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