I think I yahtzeed today... I think. My balance was about negative -$818 before today and at the end of the day my rough P/L calculation was just shy of $860. I didn't trade that many shares, only about 6,000 so it's hard to imagine that my commission would be off by more than $40. All thanks to ADS, hehehe.
I was doing ok today, up about $125 before this news, or rumor that ADS buyout price or whatever is being lowered. Apparently the same thing was going on w/ CCU... something to do w/ Blackstone. This stock normally barely make a move and all of a sudden it goes from $78 down to about $63.50 area. When it happened I kept telling myself that I am not going to trade a news play, it was just too risky. I then see it goes back up after this huge down move. Huge offers gets taken out one after one, like this 100,000 share gone in a flash. I couldn't resist and I longed a 100 shares at $66.26... thinking that I'd risk that 26 cents and get out at whole number if it didn't work out. Little did I know my account turns green quickly and very soon it show $20, then $50, then $100 and $500. It was as if someone came out and said "psyche bitches!! rumor ain't true!!" All this time I keep moving my stops up to a point below. I even said it out when I got in it that this thing could move back to $75. I see this thing move up to $73.50 and come back down to $73 and I hit the ECN to get out.... stupid. It barely rested, took a breath, or let out a fart and kept going... how sweet would it be if I added to it and I held to at least $75 or even to the highest of that first move of about $76.5.
Regardless... I step away from my desk for a while and just walk around the office. My hands were visibly shaking and my heart pounding. Holy cow! I was still short of yahtzeeing at that point, not if I had held on to my shares... =( I wanted to be careful and not have a blow up like I tend to do after having a good day. I even considered at one point that if I make a losing trade I'd close up shop and go home for the day. Fortunately I did get in a few good trades, the kind of setups that I look for even though I majorly chumped both trades... sigh....
It's like another validation, you know. It's like when I had my first back to back net positive weeks and increased my capital. It's like saying: "hey, you're playing w/ the big boys now. Practice is over." I'm thinking a lot today, I'll update them later as I get some discussion going w/ Lawrence and other guys on the team or other traders. It has a lot to do w/ payouts, position sizing and expectations.
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