FKLI March 2006 – No Oops Trade as only March contract gaps

Trade Planning and Management

February 22, 2006

Date Contract Open High Low Close
Feb 21 06 Feb 06 921.5 926.5 920.0 926.5
Feb 21 06 Mar 06 919.0 923.5 916.5 923.5

My actual Entry strategy
a. I called Apex at 8:47am to check the Open. The price opened gapped up for March at 924.5 but Feb contract opened flat.
b. I do not put the sell stop order for March contract because:
i. The Feb. contract does not open gapped-up.
ii. There is a high possibility that the price may move up again since there are whipsaws in the last few days.

Trade executed according to plan? Yes.

What I have done best:
a. I follow Oops! rules.

What I need to improve:
Less monitoring of the price.

What I have learned:
The price is always right.