Monday, December 1, 2008

stop loss limits, where have you been today?

next crashy monday!

watch + listen to meridith whitney (oppenheimer & co.):

gold -6.18%
silver -10.23%
DJIA -7.70%
s&p500 -8.93%
brent oil -11.79%
corn -5.16%
well, i've had just 1 stop loss limit in the market ;o(. why just one, jaro, WHY??? even despite huge slippage saved this stop limit some money as the stock market is much deeper now :-)

item--------------: toronto60
units--------------: 1
order type--------: market (buy) / stop loss limit (sell)
trade type--------: long
entry date--------: 11/25/2008, 10:05
entry price-------: 522.4
initial stop loss--: NONE ;o(
new stop-loss----: 548.0 (i.e. 3% bellow currents price:)
exit date---------: 11/25/2008, 15:30
exit price---------: 533.7 (=> a huge -7.41% gap down today!)
profit (loss) in %-: 2.16%
profit (loss)------: CAD $ 11.3
reason why + strategy: in my opinion is this canadian stock index so unbelievable cheap + full of commodity companies, so let's take a bet on its recovery :o)
lessons learned: my opinion was wrong, the market crashed again (manic mondays!), the stop-loss-limit avoided the switch of this winning trade into a loss, a small profit out of this trade is still there :o)

item--------------: natural gas
units--------------: 1
order type--------: market (buy)
trade type--------: long
entry date--------: 12/02/2008, 0:48 => damned early / freaking late?
entry price-------: 6.56
initial stop loss--: 6.26
new stop-loss----:
exit date---------:
exit price---------:
profit (loss) in %-:
profit (loss)------:
reason why + strategy: natural gas was probably the only real asset (do not bore me with bonds!) which went UP on this crash monday! this must be a sign of strength!!! in my opinion is gas still so unbelievable cheap! and the cold winter months are already here! damned hell, do i really need some other reason for that trade? no, i do not!!! pls, do not tell me that oil fell another few bucks to its lowest level in the last 4 years. why? because i'm not blind + i can see it myself! nevertheless, let's bet some money on my opinion, ok? my stop loss limit should protect my remaining capital if i'm wrong :o)
lessons learned: ...
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