Wednesday, September 24, 2008

DJIA, natural gas, PATIENCE

item--------------: natural gas
units--------------: 1
order type--------: market
trade type--------: long
entry date--------: 09/24/2008, 11:57
entry price-------: 8.09
initial stop-loss--:
new stop-loss----:
exit date---------:
exit price---------:
profit (loss) in %-:
profit (loss)------:
reason why + strategy: well, i had an order @ 6.96 which wasn't filled for few days, oil was rising strongly, natural gas also 2 days in a row. well, i've thought that the winter-rally in natural gas just started and didn't like to miss to increase my planned position at these still quite cheap levels... therefore i've decided to buy 1 contract 'market' before the opening in usa. wooop, after climbing to 8.19 fell the gas price nearly 7% to the market low @ 7.63 ==>
==> lessons learned: PATIENCE, PATIENCE, PATIENCE, especially when i have already a (small) position in the market!

item--------------: DJIA >> position closed
units--------------: 1
order type--------: market (buy) / limit (sell)
trade type--------: long
entry date--------: 09/24/2008, 20:59
entry price-------: 10.809
initial stop-loss--:
new stop-loss----: 10.843
exit date---------: 09/24/2008, 21:04
exit price---------: 10.843
profit (loss) in %-: 0.313%
profit (loss)------: $34
reason why + strategy: trying to trade the often seen late increase of DJIA after market close and (probably) a switch of the quotes to DJIA-future prices
lessons learned: well done! my 'lessons learned' in my very last DJIA trade 2 days ago seem to work! i will watch that phenomenon in the upcoming days and try to develop a strategy which could earn some easy money with small risk (remeber: DO NOT OVERLEVERAGE that position as there could also be a sharp price decline after the regular market close for whatever reason :-)
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