Hi Guys,
I closed out six positions today, all for a profit. In the main account, PAYX, INFO, and CBOE all hit their profit targets and INVH reached its time limit at a profit. In the extra options account, ADBE reached its profit target. In the low-priced account, PEG reached its time limit for a small profit.
PEG was a case where the stock went way against us but came all the way back up past breakeven, and I like to take notice of those cases and try to remember them when things unfold the opposite way (like they did with my AAPL options). Sometimes I have to proactively focus on letting the "good" sink in so that I can offset the negativity bias that my mind sometimes exhibits.
I bought some new positions today. I added KKR and ABC (I bought the stocks in my main account and the options in my extra options account). I also picked up X and BE in my low-priced account.
My buying power has been limited in my main account, and so it's been a bit of a balancing act trying to handle new positions. When buying power isn't an issue, my approach is to take the first two stock trades that meet their potential entry prices from the watch list. Since each trade on the watch list is considered "equal" to me, I simply take the first two that set up. But when buying power is an issue, that's when things get trickier.
This morning, for example, I only put in buy limit orders for the stock trades that I could afford to take on. So in terms of how I pick which stocks from the watch list to trade when my buying power is limited, the "Stock Position Value" shown on the watch list is a factor.
If you have any questions or feedback, I'd love to hear from you.