When the June contract hit $66 last night, I was tempted to sell. However, I thought she might break through to $67 today - what with a storm in the Persian Gulf, Bush criticizing Putin etc. So, I bought 2 more contracts @ 6595 (actually 6283 - thanx IGM - that 12 point spread is a real beauty...not).
Anyhoo, got stopped out of both of them, as gasoline went south. So - went short @ 6529 (actually 6541 - again, thanx IGM... love your spreads) - got stopped out on that as well, as gasoline went north! In the meantime, I wanted to close my longs @ 6550 - but my computer got all slow on me. Finally, managed to get out of all 3 @ 6540.
All in all, got clobbered out of close to $1000 in all this mayhem - actual losses plus opportunity loss.
I think if this has taught me one thing, its not to trade frequently. Bide my time, pick my trades - and when I'm convinced - go in strong. At one point, I was up over $6000 - and in the end, came out $4500 ahead.
Well, I'll take my profits - hopefully, I'll remember this lesson.
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