Thursday, December 23, 2010

PFE close out

I'm manually closing out my long calls on PFE about .04 shy of the GTC I had placed. Classic TA worked on this trade and with it approaching resistance and 29 days left until expiration I'm content to book this profit and look for another entry point.

Trade Update 1/5/11: I wasn't watching the market on Friday 12/31 so I missed a great re-entry point for this trade. Monday morning was too late as we gapped open and I didn't want to chase it. I don't like sitting in front of the screen for 7 hours a day, but this is twice in the last week that not doing so has cost me money.

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3 comments:

  1. UnknownDecember 23, 2010 at 1:50 PM

    I love profits!!!

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  2. Jason HaasJanuary 5, 2011 at 12:12 PM

    Click for update to original post.

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  3. DominicJanuary 5, 2011 at 12:46 PM

    I have found that I need to be in front of the screen for the entire session so I don't miss any opportunities that you are talking about. But the key is to no just stare at the screen all day. Look at charts, set alerts, play around with strategies, and read. Thats the great thing about a multiple monitor setup is that you can have the market on one screen at all times and then what ever else you are doing on another screen.

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