2008 trading - Page 3

Airelon · #17 (**permalink**) 01-08-08, 02:23 PM

Tis why positions have to be weighed against account equity balance, and risk management should be dependant on %'s of your account size.

optradersc · #18 (**permalink**) 01-08-08, 03:47 PM

$7,000 in cash feels like too much cash on the sideline, with such a beautiful rebound today, So I also took a new position.

Bought 4 APOL Jan. 70 calls at $3.60 for ($1,454.95).
That leaves me with $5,587.45 in cash reserves.

And money management probably won't do me no good if I'm trying to reach $75,000 by year's end. I'm aiming towards more of risk management through hedging strong stocks with weak ones, and strong sectors with weak sectors. Hopefully, I can keep most of the funds in play with that kind of goal. Don't get me wrong, that loss in LEAP puts definitely increased my blood pressure, but I was relieved to see SVU puts slowly increase from $2.50 at the open to $5.80. And as of current, SVU volume is nearly 500% above average with the shares down BIG at -14%. Good luck trading.

Airelon · #19 (**permalink**) 01-08-08, 05:08 PM

Money management has everything to do with making $75,000.00 by years end.

Everything.

optradersc · #20 (**permalink**) 01-08-08, 06:12 PM

Well, the last hour of trading is always fun. After buying those 4 APOL Jan. 70 calls for $3.60, I find that those same calls have lost a great amount of value. So, I doubled down buying 8 more APOL Jan. 70 calls at $3.20 for another ($2,574.95). Hopefully, this position can protect against any downfall AMZN might bring.

Reason for APOL calls: Earnings were up tonight, and I felt APOL was going to easily beat estimates again. It's all about beating estimates when reporting earnings. I also felt to many bears were in APOL especially after APOL had been reporting storng EPS and revenues over the past 2 quarters. Here are the results: APOL reported Q1 earnings of $0.83 on revenues of $780.7M, easily trumping estimates of $0.73 on revs $750.9M; love it when I'm in a zone.

At the end of today, my account is showing up at $10,872.55 with cash of $3,012.55, 12 APOL calls at $3,720, and 12 AMZN calls at $4,140.

optradersc · #21 (**permalink**) 01-09-08, 10:49 AM

WOW......so APOL's increase even surpassed my expectations. I was looking for a safe 50% increase, instead I just sold all 12 contracts at $9.50 for $11,382.00. I also got stopped out of AMZN, closing all 12 contracts for $1.75 and receiving $2,082.00.

Closed 12 AMZN Jan. 90 calls at $1.75 for a loss of ($1,166).
Closed 12 APOL Jan. 70 calls at $8.90 for a gain of $7,352.10.

I'm all cash again, and I think I might have a few bucks to play an AA trade ahead of their earnings tonight. Current position is $16,476.55, with a nice gain of $11,476.55 so far. Still a long ways to go, just I hope I can finish this race. Again, I am a full time trader and can allot all my time to the market, which is why I can find and take advantage of certain situations. Good luck guys and have fun.

Novice Investing · #22 (**permalink**) 01-09-08, 11:20 PM

LOL. So far so good. But I can barely keep up with all other jobs I have going around :-s.

Fredledingue · #23 (**permalink**) 01-10-08, 07:26 AM

optradersc,

Congrats! I wish I could earn money that fast.

optradersc · #24 (**permalink**) 01-10-08, 12:44 PM

So far so good, and I'm hoping for a small rally in the next 1-2 months to help with my goal. A 0.50% rate cut would certainly fuel a rally going into March. For the rest of the week, I'm going to review and maybe take a position on FCSX after Bernanke talks today. It's always safer to play after the storm has passed.