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Monday, October 1, 2012

20121001-1

GC
Open
Long 2 @ 1782.9. Gold Rush, limit order, I didn't put a stop order, it made a new high and I placed a limit order at the price where the stop order would've been, was fortunate to get filled. 30 ticks stop loss, targets 40 and 200 ticks.


Close:
1st:
Sell 1 @ 1785.9. Moved the first target to 30 ticks from 40 ticks because I was concerned with the way it was moving up, without any pullback, was afraid of it running out of steam, the order got hit almost immediately. 

It made a whoosh up with a rather large volume spike, was thinking of taking profits, but was too slow, it pulled back 20-30 ticks, decided to wait and see and moved stop loss to the entry price, and moved the target down to 1793 as it was above 1800. 
2nd: Sell 1 @ 1785.9. It looked like it was going higher, but failed, now I really wanted to get out, moved limit order just a few ticks above the current price. As the price was getting close to my order, I tried to move the order up, but was too slow, and it went up 80 ticks after that. Was a bit too scared to do another gold rush trade. 

2 contracts $600 gross, $586.12 net.