Thursday, December 28, 2006

Made 900 today on call warrants

Dow super strong last night, up by 100 pts! Nikkei opened green today, sti too, so my bet is hsi will also surge upwards, though I think the surge will be lesser than yesterdays.

So around morning, I bought a call warrant again. Internet a bit slow today though I can use my hsi live charts, at least won't be trading blindly. Entered one warrant at 0.595. After some time dropped by around 8 ticks or more, dunno why. Perhaps some computer problems or so, I immediately seized the opportunity to buy in more. BUT THE COMPUTER FROZE!! the end up again at 0.575, so average down. I usually dun do averaging down, because it's like putting money in a losing trade. But since dow closes so strong, I'm quite confident so I went in. The first 0.595 is for testing waters only. Normally if the direction I bet is correct, I would buy another batch at a higher price.

Anyway, hsi very steady today. Even though stochastics drop a lot, hsi just budge a little southwards. So, I went breakfast and read newspaper, confident that it won't swing sides violently. Again, after around 1230, I decided to cash in because nikkei doesn't look very strong. STI also floundering down, so to be on the safe side, better sell all my call warrants. Made a cool $900 today for half a day's work.

Seems like my system is working very well on warrant trades. Since 19-dec where I had a slight loss of around $160, been earning consistently till now, losing another $50 yesterday. Total warrant returns was a staggering $5400 from 29-nov till 28-dec. Before anyone think sure make money, take note the worst I lost from warrants was 1400 plus plus. If you cannot take the big losses, warrant trading can be very stressful.

Probably won't enter again in the afternoon, earn enough for today. I'm just waiting for my longcheer and pac andes to explode. Longcheer seems to be on rise today, probably due to technical reason, not news-induced. Pac andes rise is because china fishery, their subsidiary company acquired 2 more ships (i think) for their fishing business.

I'll update more tonight. As of now, total returns is a very good 4k.


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