Wednesday, September 17, 2008

silver, toronto60, the final sell-off in stock-markets?

item__________: silver
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_______:
exit price_______:
profit (loss) in %_:
profit (loss)_____:
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))

item__________: toronto60 >> position CLOSED
units__________: 1
order type______: market
trade type______: long
entry date______: 09/17/2008, 19:04
entry price_____: 715.1
initial stop-loss_: 705.1
new stop-loss___: 717.1
exit date_______: 09/17/2008, 20:36
exit price_______: 720.8
profit (loss) in %_: 0.8 %
profit (loss)_____: 5.7 cad
reason why + strategy: by watching the market i had a feeling that the stocks (dow, nasdaq, dax, toronto60, ...) wanna go higher, so i've bought 1 canadian contract. later on i could place a profit securing stop-loss-order and short before market close i've sold this position as stocks (dow, nasdaq, ...) changed their temporary move up and started to plunge down ...
lessons learned: well done: small risk, small return + big fun :-)
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