Monday, December 5, 2011

Today a natgas trade hit me on the head

It's very late and I'm back from the hospital. My mother had to go through an operation and I have been kind of worried all day because of that. But that's not the reason why I had negative results today. It has more to do with a natgas trade that went sour after (on a rare occasion) I doubled the size of my initial position to average down its price. It was a bad decision considering natural gas kept on going down without any sort of bounce up whatsoever. Thanks God I went short crude oil at a certain point and was able to reduce my loss to a manageable 49 ticks. In short, a day to re-learn to never average down again. Net result for today -$486 (commissions included). Details below.

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