Wednesday, January 14, 2009

Fixing A Greedy Trade:

Again, do not get greedy, just take your profits and wait for the next opportunity...


Filled Sell to Close 33 +OAQAQ Limit 0.90 10:12:09 01/14/09

Filled Buy to Open 14 +OAQAQ Limit 0.35 09:32:46 01/14/09 ++On 01-14-09, I had to fix this "bad, greedy trade" by adding to the position, averaging down the cost of the original trade at 1.10 per contract and then dumping the entire position at .90 per contract - I was only able to do this because the stock pulled back and then recovered. This could have been a loss!++
Filled Buy to Open 19 +OAQAQ Limit 1.10 10:27:12 01/13/09 ++I could have sold this position on 01-13-09 at 1.55 per contract - got greedy and never sold as my order was at 2.05 per contract.++

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