Miserably happy today – Right about the direction of the market wrong about my trade.
Well lets start off by saying I was wrong on my trade for FXI Dec 06 96 Calls. I was right about the market following down opening either high or low. It opened lower but much lower then expected and stocks did move higher throughout the day with the DJIA and NASDAQ. But I was wrong because it didn’t pop later to find out that the Chinese Yen fell creating also a sell off in Chinese stocks helping ETF index fund FXI drop sharper. It did move up the rest of the day but it totally made my day suck. I don’t like being wrong but I can except it. I know now not to make this type of trade again. I’m stuck in the position because it’s basically at a totally loss. My 100% compound interest trade did not work so I am basically at a 100% loss. =-( Now if I was smart I would of went with an easier trade yesterday, Apple. You see when the entire market tanked AAPL was up $1 and I knew knew knew that it would change negative once the stock investors hit a reality check. Thirty minutes later I re-checked the stock qoute and it was $.16 then -$.80 then finally -$2.00!!! My intuition to buy PUTS on it would of been the CORRECT thing to do and I would off been up 100% in my trade in 1 day. Now I’m the opposite.
When I woke up this morning at 4:30 AM to see how the market opened I only got two hours of sleep the night before because I took this huge nap early in the day. I couldn’t wait to see my position up so I could close it out. When I saw FXI @ -$3.00 I wanted to puke. I was so wrong and it was taking forever to move up in the day. It didn’t move like AAPL down $1 then up +$1 by the end of the day. So since I was up early I left to get some grub around 5:30 AM at Jack In the Box fastfood joint. Before I arrived I killed a smoke in my car getting a high trying to ease my mind about my bad trade. I haven’t smoked a cigarrette in two days. I finally arrived 5 minutes later. I got my favorite Meaty Egg Burrito combo with a big hashbrown and coffee. It tastes yummy and totally delicious. I was happy for like 10 minutes eating my food inside the store. I love eating early in the morning before I do work or when I am traveling it gives me a sense of fun as I felt as a kid. Drinking coffee is also fun and makes me feel like this early morning adult worker. I end up going to work and boxing out at the gym early morning as soon as I get to work. My stomache wasn’t too happy about excercising. I check my stock quote again through out the day and see it moving up but not into the positive when I thought it would go. Disappointed I am today so miserably happy, seriously, in myself.
If I was you I wouldn’t even read this financial stock options trading blog. I hope you are learning something, but I’m loosing money and that isn’t very good trading for you to be interested in. Hahaha. Don’t worry I’m not done yet. I have 3 more years to correct my mistakes, if I can and do, and finally meet my goal of $1 million dollars.
This entry was posted on November 28, 2006 by Paul. It was filed under personal life, stock options, stocks, trading stock options .
Some of the best learning occurs when mistakes are made. Pick up and move onto the next stock. I still need to start investing in stocks myself.
November 29, 2006 at 2:59 pm