Thursday, September 27, 2007

A New Appreciation For My Neighbor

My earlier post really says it all.

I only wish I had gotten home at 3:59 and not at 3:40... it would have meant $750 more in profits. Instead, I came home and was thrilled, shocked even, to see my P&L green and so I just sold out of most of my position near $31. I had also set limits to sell 400 at $31.20 and 400 more at $31.50 while I was out... amazingly, they too were hit. So upon my return, I had 1000 shares left and sold most of it around $31.10.

Believe me, I'm not going to complain too much about missing that last 65 cents.

You know, I said that I was doing that to prove to myself that I wasn't attached to money, but really, it seems like I'm more attached to trading itself than I am to money. I really "felt" that the stock was going to go higher but I "felt" even more that if I hung around to watch it that I'd screw it up.

Funny the way lessons can be learned.

Anyway, apart from my intraday number today, I made almost $600 in my "swing account" with gains in NMX (thanks Momo), POT, and DE. FED is dead in the water... if he doesn't move to the upside tomorrow I may bail on that one for a tiny loss.

Also instructive today is the fact that the other two positions that went against me, CNS (long) and LDK (short) would have worked out quite well had I let them be and not exited them for losses. I'm not saying that taking the losses when I took them was wrong, but I am saying that I should probably take smaller positions and give myself more room in them because it could be that I'm often on the right side of a position over a longer timeframe... I'll be exploring this more in the days to come.

Here's the stats:

P&L, $217
Best, ANW, $1007
Worst, CNS, -$544
23,200 shares traded.
14 stocks traded. 6 winners, 8 losers.
97 trades.


tapeworm said...

i'm glad to see that worked out...btw, between misstrade and momo, the VO is kicking ass...that was an incredible day he had...too bad he didn't break your record :-)

Dinosaur Trader said...

Yeah, a dollar per share traded is a pretty good record too!

Of course, I get a 10% cut of any money made over $20,000. I hope MT remembered that clause in our agreement.