well, i followed the trend...again. geez it's tough being sensible.
some of you may know i shorted FB from open - made a killing with CFDs after closing out my position at $27 on Jun 4 because the trend had broken. if i had held, i'd be up a lot more again, but that would mean watching it like a hawk and giving back some profit for a few nervous months. all in all, i'm glad at how i handled this.
i paid a slightly higher interest rate and got 40:1 leverage on FB. it seems the good old days of a CFD = 10% deposit are long gone.
i cleared just over 500% (five hundred percent) @ 40:1 with FB - but that was 10 days worth at at IPO, not after and extended time trading.
well, a few select individuals will know i also shorted ZNGA (Zynga) when it crossed under the $9.99 mark for the second time back in late may (May 21, to be exact).
Zynga is a FB gaming application/platform. famous for Zynga Poker. you can buy stupid things like chips and cocktails inside the game with real money. for those that live virtually, i guess this is okay, but a majority of the world don't.
when it crossed $10 for the second time, i knew what that meant.
and what a ride.
with slightly less (!) 20:1 leverage with the same interest rate (god bless 3bp cash rates) the stock today sits at $2.82 after a 16% fall yesterday, off the back of 13% the day before.
i am getting itchy because the short term trend is breaking up (we have divergence of larger, macro signals) so it looks like i will close my position out for another bumper profit in shorting "stoopidstox", as i call them.
my "buy" to exit (remember, i'm short) is set at $2.79, so i'm very close to exit. at these rates, after commissions, it's a potential 667% (that's six hundred and sixty seven percent) profit booking.
i started this thread to highlight that trading isn't about watching the tickers 24/7. it's also about realising stupidity or mania when you see it, and trading with it.
i want to know if there's anyone out there who just waits for a big opportunity like stupididdlyty and mob mentality and just trades with it "all on black" style - or if it's just me being lazy?
some of you may know i shorted FB from open - made a killing with CFDs after closing out my position at $27 on Jun 4 because the trend had broken. if i had held, i'd be up a lot more again, but that would mean watching it like a hawk and giving back some profit for a few nervous months. all in all, i'm glad at how i handled this.
i paid a slightly higher interest rate and got 40:1 leverage on FB. it seems the good old days of a CFD = 10% deposit are long gone.
i cleared just over 500% (five hundred percent) @ 40:1 with FB - but that was 10 days worth at at IPO, not after and extended time trading.
well, a few select individuals will know i also shorted ZNGA (Zynga) when it crossed under the $9.99 mark for the second time back in late may (May 21, to be exact).
Zynga is a FB gaming application/platform. famous for Zynga Poker. you can buy stupid things like chips and cocktails inside the game with real money. for those that live virtually, i guess this is okay, but a majority of the world don't.
when it crossed $10 for the second time, i knew what that meant.
and what a ride.
with slightly less (!) 20:1 leverage with the same interest rate (god bless 3bp cash rates) the stock today sits at $2.82 after a 16% fall yesterday, off the back of 13% the day before.
i am getting itchy because the short term trend is breaking up (we have divergence of larger, macro signals) so it looks like i will close my position out for another bumper profit in shorting "stoopidstox", as i call them.
my "buy" to exit (remember, i'm short) is set at $2.79, so i'm very close to exit. at these rates, after commissions, it's a potential 667% (that's six hundred and sixty seven percent) profit booking.
i started this thread to highlight that trading isn't about watching the tickers 24/7. it's also about realising stupidity or mania when you see it, and trading with it.
i want to know if there's anyone out there who just waits for a big opportunity like stupididdlyty and mob mentality and just trades with it "all on black" style - or if it's just me being lazy?
