Wednesday, September 24, 2008

silver

item--------------: silver >> position closed
units--------------: 1
order type--------: limit
trade type--------: long
entry date--------: 09/22/2008, 18:28
entry price-------: 13.53
initial stop-loss--: 13.33
new stop-loss----:
exit date---------: 09/23/2008, 07:32
exit price---------: 13.33
profit (loss) in %-: (1.45%)
profit (loss)------: (0.20) => (20 usd)
reason why + strategy: i did recognize a flag chart pattern again, so i decided to open a new position. after my entry i've put a proper stop-loss-limit below the flag. the falling usd against euro and raising gold also 'supported' my decision. after that could the silver price increase a little to 13.63, but not enough to really allow me to move my exit point above my entry price.
lessons learned: good trade. my opinion was wrong (in the short run :-). my position was stopped out with small loss.

item--------------: silver >> position closed
units--------------: 1
order type--------: limit
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---------: 09/23/2008, 17:39
exit price---------: 13.13
profit (loss) in %-: 8.42 %
profit (loss)------: 1.02 => 102 usd
reason why + strategy: after selling all silver positions earlier today (= 09/18/2008, thanX goodness before the today's sell-off orgy 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 better filling so i removed my limit order and bought 'market' at a not very cheap point ....
lessons learned: good trade. my opinion was CORRECT, so i could move my stop-loss-levels higher and higher. position was stopped out with nice profit :-))

btw, after work i was with 2 friends in beer garden / pub today and i spent there less money than i've lost yesterday with my dow jones trades => drinking beer is a cheaper hobby than trading :o) cheers!
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