Monday, June 15, 2009

Pretty much all of my commentary was right on from last week, but...

My comments were to short the markets, buy UNG, sell some USO calls and mentioned I thought the precious metals could come back to their 50 DMA's (I bought UNG and sold USO calls and shorted the market). However, despite all these correct calls I still did not make money today. Why? Mostly because I did not hedge or sell any of my GLD, SLV, GDX despite thinking they may come in. Also, because my short bonds and long DBA went against me as well today. These are the type of times when as a trader you can beat yourself up for being right in your expectation but not executing trades to capture gains or avoid losses. The positive side of the equation is by buying UNG, selling calls and shorting the market I did not incur the losses I would have had I not made some trades.

Sometimes just coming out even is still OK as a trader... the toughest thing is as perfectionists many traders don't see it that way. Remember - it is OK to pat yourself on the back even when you don't make money some days.

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