Recent transactions:
| 03/17/2008 | Buy To Open | 1 | CLZ15 | Crude Oil DEC 2015 | 100.30 | |
| 03/17/2008 | Buy To Open | 1 | NGZ11 | Natural Gas DEC 2011 | 9.410 | |
| 03/20/2008 | Sell To Close | 1 | NGZ11 | Natural Gas DEC 2011 | 8.760 |
Notice that I bought a contract, and turned around and sold it 3 days later for a hefty loss (about $6500). But I'm getting ahead of myself - here's the real story:
SO I've been investing in this new thing called futures (see previous post) - and, holy shit - I'm making money hand over fist. Made like $65k or something crazy. right away too, within weeks.
Then, I decide to press my luck (see transactions above). Then everything comes crashing down, and all of the sudden I've lost all of my winnings and I'm nearing a margin call (ie. I have to put up more $$ or they'll force me to close out a position (or two). So I sell one - the one I just bought a few days ago.
Turns out the past few weeks has been a roller coaster by any measure. I was reading about all the unprecedented rise and then more about his unprecedented fall in oil and natural gas and what-not. panic buying and selling is what they called it.
Needless to say, last week was quite a welcome into the futures trading market. It was fun going up, not so fun going down. Thankfully I didn't lose my shirt.
I know at this point that I'm too heavily leveraged, but I can't seem to get myself to close out some positions to reduce my risk. Here is what the current holdings are:
| Symbol | Description | Qty | Cost Basis | Price | Change | Gain/Loss $ |
| CLZ15CRUDE OIL DEC 2015 | CRUDE OIL DEC 2015 | 3 | 99.85 | 97.74 | 0 | -6,330.00 |
| CLZ16CRUDE OIL DEC 2016 | CRUDE OIL DEC 2016 | 2 | 92.12 | 98.2 | 0.27 | 12,160.00 |
| ECM9EURO FX JUN 2009 | EURO FX JUN 2009 | 1 | 1.5275 | 1.5259 | 0 | -200 |
| NGM13NATURAL GAS JUN 2013 | NATURAL GAS JUN 2013 | 1 | 7.889 | 8.596 | 0 | 7,070.00 |
| NGZ13NATURAL GAS DEC 2013 | NATURAL GAS DEC 2013 | 2 | 8.935 | 8.941 | 0 | 130 |
| SPU9S&P 500 INDEX SEP 2009 | S&P 500 INDEX SEP 2009 | -1 | 1325.2 | 1354.4 | 0 | -7,300.00 |
what do you say - roll the dice and keep these holdings? Or play it safe and cash out a bunch of these?
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