Monday, October 20, 2008

blogging OR trading, NOT BOTH !!! + who understands the silver market?

what about silver? what about its crazy movements 'against' its usual correlation buddies gold (direct corr.) + usd (indirect corr.) => ??? well, next day the same story, let's make some market analysis on that issue :o): silver market


item--------------: silver >> position closed
units--------------: 1
order type--------: market (buy) / limit (sell)
trade type--------: long
entry date--------: 10/20/2008, 01:10 (that was early in the morning! well, for me it was still sunday night :o)
entry price-------: 9.63
initial stop-loss--: 9.37 ... ... ... this field must never be empty :-)
new stop-loss----: 9.64
exit date---------: 10/20/2008, 12:08
exit price---------: 9.64
profit (loss) in %-:
profit (loss)------: $ 1
reason why + strategy: in my opinion we are in the middle (not the end!) of the 2008 financial crisis and silver (gold also) is so unbelievable cheap. i will bet on its price recovery!
lessons learned: silver rose to 9.86; gold fell slightly; usd rose massive against eur; silver fell again and hit my stop target => ok


item--------------: silver >> position closed
units--------------: 1
order type--------: market (buy/ limit (sell)
trade type--------: long
entry date--------: 10/17/2008, 15:09
entry price-------: 9.33
initial stop-loss--: 8.88 ... ... ... this field must never be empty :-)
new stop-loss----: 9.09 > 9.34 > 9.55
exit date---------: 10/20/2008, 13:28
exit price---------: 9.55
profit (loss) in %-: 2.36%
profit (loss)------: $ 22
reason why + strategy: in my opinion we are in the middle (not the end!) of the 2008 financial crisis and silver (gold also) is so unbelievable cheap. i will bet on its price recovery!
lessons learned: silver rose to 9.86; gold fell slightly; usd rose massive against eur; silver fell again and hit my stop target => ok


+ 9 DJIA trades with overall loss of 55.51 €uros. folks, that was a bad DJIA trading day :o((. before my break (dinner, bath tube) i had just 3 trades and a profit of 31 euros. after my break and 6 additional trades i have a loss of nearly double that amout => ??? why did i continue trading? why did i not shut down the trading platform and kept at least a small ('symbolic') gain for the day? and why did i trade IMMEDIATELY when i CAME BACK from break and didn't watch the market for some time to get a feeling in which direction it will most likely move? ... let's think about that :o))

... ok, the 1st idea for improvement arrived already: folks, in the future I WILL EITHER TRADE OR WRITE MY BLOG, BUT NOT BOTH !!! (writing my other websites or some postings in stock communities is also not 'allowed' when trading !!!)

btw, the market MOVED A LOT in the direction i thought it will (about 300 points, so it was a good evening to make some money), but the volatility was too high for my tight stop-limits and i couldn't catch the big move this time, also my concentration was more attented to writing this blogpost (+ enhancing the last one) than to trading. why? i don't truly know :o((. in retrospective i see, that i've therefore constantly missed good entry points and entered the market much too late, when a biggest part of its temporary movement was already done! what STUPID + UNNEEDED MISTAKES today! did i think that after 5 consecutive wins in DJIA trading there is nothing to worry and i can do some writing along the way? hmm, not really, but yes, somehow subconsciously (unterbewusst) i probably did. let's learn from this failure sth. useful 4 future trading sessions!


=> I WILL EITHER TRADE OR WRITE MY BLOG, BUT NOT BOTH !!!


my best trade today was a winner with $ 41, all the losses were between $ 9 and $ 25 per trade

item--------------: DJIA >> position closed #3
units--------------: 1
order type--------: market (buy) / limit (sell)
trade type--------: long
entry date--------: 10/20/2008, 18:17
entry price-------: 8,988
initial stop-loss--: 8,968 ... ... ... this field must never be empty :-)
new stop-loss----: 8,989 > 8,991 > 9,001 > 9,009 > 9,019 > 9,029 > (here i left for a break)
exit date---------: 10/20/2008, 18:37
exit price---------: 9,029
profit (loss) in %-:
profit (loss)------: $41
reason why + strategy: trying to trade some big movements in late market trading
lessons learned: market liked my bet and moved in right direction => ok :-)
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