Tuesday, June 12, 2007

Going all the way

"Dear God, please let me win this play big."

This is a no no prayer in stock speculations, because God does not usually answer this type of prayers. Also it is too much risk to manage and emotion runs too high.

I had it right on Monday morning on X, I knew it would go up a couple point. So I used all of my capital to buy 10 contracts of 120 Calls. It was a good move, I saw my profit soared 10 minutes afterwards. I was watching as my line increases. My goal was to gain $1 per contract, it hit the goal briefly. But no long enough to satisfy my greed. Hence I lost out $1000 1 hours later.

In a few days, I lost all my profit, got most of it back, and lost it again. I was lucky not to lose any of my money, just my profit so far.

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