January comes to a gloomy close as the markets fall again on worsening economic data and nagging uncertainty about the government's bailout plans. We were profitable in the beginning +19% for the month; however; due to some extreme risk-taking on our part. Holding on to Jan Options that expired worthless - killing the account with a major loss. The bet would have paid out nicely but time was not on our side. Markets tanked the next day.
As we close this month we are now at a -30% drop in our account. Drop occurred on the 3rd week of the month; we have fixed the flaw and managed to dig out and ended up with a -30% drop instead of a much larger number.
As we, have said “Life is a Journey, not a Destination”. As we look forward on to the next month and better trade management.
