Augubhai's notes - Smarts, Guts and Luck

[augubhai]

1. 55C - shorted at 132.8, 50% out at 133.41, rest out at 135.2 (MFE 122.5)
2. 57P - shorted at 138.5, out at 145.26 and 146.11 (MFE 137.9)
3. 55C - shorted at 127.09, 50% out at 123.43, out at 126.15 (MFE 114)
4. 56P - shorted at 90.21, 50% out at 87.94, added shorts at 89, out at 86.24 and 92.25 (MFE 77.2)
5. 55C - shorted at 119.22, 50% out at 117.53, out at 123.3 (MFE 108.8)
6. 56P - shorted at 86.43, 50% out 89.14, (MFE 82.85)

 

[augubhai]

1. 55C - shorted at 132.8, 50% out at 133.41, rest out at 135.2 (MFE 122.5)
2. 57P - shorted at 138.5, out at 145.26 and 146.11 (MFE 137.9)
3. 55C - shorted at 127.09, 50% out at 123.43, out at 126.15 (MFE 114)
4. 56P - shorted at 90.21, 50% out at 87.94, added shorts at 89, out at 86.24 and 92.25 (MFE 77.2)
5. 55C - shorted at 119.22, 50% out at 117.53, out at 123.3 (MFE 108.8)
6. 56P - shorted at 86.43, 50% out 89.14, out 97 (MFE 82.85)

 

[augubhai]

Turned a good day into bad. 4 of my 6 trades were in 10+ points profit, but did not book.

Need to work on exits...

 

[nac]

I have following your thread for a week or so. I like your style very much. I wish I could do trade the way you do... :thumb: Cutting the losing trade quickly, which I really wanna master.

 

[augubhai]

 

[augubhai]

These charts are turning out to be more a study of my psyche (by me), than a study of patterns. I think I lost yesterday because my greed is greater than my fear. Maybe I should reduce greed, while not increasing fear
(Easier said than done

EOD on Friday, I had thought that my exits were very bad. But now, looking at the charts afresh, I think that the exits were not so bad after all... It's just that the market did not give me a wee greater stretch, because I think that if any one of the trades had moved a few points more in my favor, I would have started booking (not sure about what I would really have done, though)

I also think that most of my entries on Friday were good.

Any opinions on whether my exits were good or bad?

 

[augubhai]

1. 57P - shorted at 150.31

 

[augubhai]

Story repeats... was 10 points in profit, but did not book...

 

[augubhai]

1. 57P - shorted at 150.31, out at 151.91 (MFE 141.95)

 

[augubhai]

Need to go out now
thinking.... don't know why I don't take profits???