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Major Mistake…
Oh well, if you all are following the US market, the Fed just recently announced the interest rate cute 2 days ago and investors were not really happy with the little cut.
Stocks plunge all the way downwards and eventually lost 2.6%.
So what was my major mistake?
As i was too busy on CPA to monitor the current US market news. I didn’t know that the Fed was going to make the announcement on that day. Soo Chin (my girlfriend) din know either and the we sillyly went to sell another put options hoping to increase our profit margin for the month. When market plunge, we close our position to take a lost of $150USD, thus bringing our profit margin for the month to 6.6%.
One very important thing to highlight here is that its is crucial and important to keep track of what the US financial sector is doing and what’s happening. What i do is that i just read the headlines of Yahoo news everyday and that should be sufficient for you. It only takes 10 mins to read all the news that’s in Yahoo News.
Yup, hopefully for all those doing options trading, remember to keep yourself updated on the US market no matter how busy you are. Just spare 10 mins to do so everyday and you’ll be assured of success.
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