The price went up into my spread and I was waiting for a pullback to get out and to fix it. It never happened. So, I simply took a loss to get out and be done with the trade.
Since the last blog I have done a bunch of backtesting, studying, and have constructed a revised trading plan. I'm also going to attend a seminar mid February and will most likely adjust my plan a little more then.
Trading plans are like that, they adjust - they aren't concrete and need to adjust with the market and your trading level.
Until I get consistently profitable, then I'm suspending this blog. Once I do get consistently profitable, then I'll start blogging again.
In the meantime - my advice to you:
1. Keep learning as much as you can about Credit Spreads
2. Paper trade
3. Backtest your theories
Best wishes in 2010, I hope to start blogging back within the next 2 months.
