Thursday, March 5, 2015

What the F*ck!

Embarrassing is the only word to describe my trading today.  System flashes the first buy signal at 11:45am but I decided not to take the trade because the profit/loss ratio isn't the best.  With resistance at $210.74 and the signal coming in at $210.39 there just wasn't the space.  So instead I decide to make the brilliant move of purchasing puts after the second buy signal once we hit what I thought was broken support and now resistance at $210.24.  Why on earth would I do that on the heels of a buy signal?  I honestly don't know and I guess I was hoping that it was a false signal and that we would turn around after testing the broken support level and confirm it as resistance.  I guess I don't fully trust the signals just yet.  Well price moved higher.  This trade places me two steps back if not more not on a profit/loss basis (the loss was minimal) but psychologically.   Just dumb!

Here was today's trade.

BOUGHT 5 SPY Mar13'15 209 PUT @AMEX @ 1 
SOLD 5 SPY Mar13'15 209 PUT @AMEX @ 0.85 

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