Been awhile

I thought I would put up a quick post. I went traveling to Europe and have been away from the markets for about 2 months. I have started to trade again but I am not sure if I will be continuing with this blog which has always remained an after though it seems. I will you leave with one final thought, the biggest opportunities happen when markets diverge beyond reality. This means be on the other side of the crowd when there is no one left to join the crowd.

And good luck in 2009.

Derivatives?

This week could see some unexpected moves due to the settlement of a large amount of credit derivatives of failed institutions starting this week.
Settlement day approaches for derivatives

Hitler: Another trade, another margin call

Somebody posted this to at ET looks like Hitler just can't catch a break.

Bunning

I did not trade today as I have too many projects to get done but wanted to post some exerts from this article on Bloomberg. Senator Jim Bunning made some comments and I happen to agree with most of them.

Bunning Speaks Up

``I sincerely believe that Henry Paulson and Ben Bernanke should resign,''

``We no longer have a free market in the United States, we have a government controlled free market,''

``When I picked up my newspaper yesterday, I thought I woke up in France. But no, it turned out it was socialism here in the United States,''

``No company fails in communist China, because they're all partly owned by the government,''

Paulson ``saw and knew what was happening, and didn't tell the truth to the banking committee,''

Way to go Bunning...

Update

I was not around most of the day today but made a few small trades late in the day.+157 net 1 loss 4 wins all small scalps mostly in CME playing the spread.

YOOZAH!

Well if there was a mistake to make today I did it. Not only was I long OIH calls from Friday pm.(I get the moron award for buying a close like that) I went on to recoup 90% of the loss only to lose my gains and only cut about $200 off the top of it. I ended down *$871 and started the day with a loss of $1077. After I cut the loss down nicely I decided to take a short break. And when I came back I made trade after trade after trade that did not work out, trying to bring myself back to green.
So what did I do wrong. First I over traded, second I did not trade with the market, Third I did not stop myself when I was losing. My win rate today was horrible worst it has been in a long time. I tried to pick tops (crude) and bottoms (aapl) and paid for it. I held for small gains when large gains were to be made. I need to reassess what I am doing and build a better game plan, possible scale back for awhile. One thing I will say is that the crude oil contract CL is amazing and I wish I started trading it sooner. Going to start some research into trading the energy markets and its drivers like weather, currencies, supply and demand. I also want to learn more about how the NYMEX operates, some of those sweeps were crazy! Anyways if you read this and you have some good sources of information for crude leave it in the comments, cheers

I'm Back