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Closed my KZL position for $6.448. I figured, since I doubled my money I should take it and compound it in another trade. I haven’t been trading long, that being said I am beginning to see that doubling your money with $1,000 doesn’t take a lot of effort, however doubling your money with $10,000 or more changes a person’s mind.

I am beginning to understand why buying insurance on your trades are important. If I had insurance on my trades, I would be willing to put $10,000 or more on one trade and if that trade moves 10-20%, I can easily double to triple my money. Obviously if the trade went against me, I wouldn’t feel bad because I have my insurance policy…. something to think about. I may have to seriously rethink my Tricom Trader account, it doesn’t seem to do it for me. I’m going to ask my broker about getting a US options account… see if they can set it up for me.

Trade Summary

24 APR 2007 Buy 1,700 KZL @ $5.87 for $9,977.30
07 MAY 2007 Sell 1,700 KZL @ $6.448 for $10,961.60
(edited, thanks vic)

Profit $984.30 (there is about $20-30 interest which I haven’t included, in addition I was charged $50 brokerage because my trade was less than $10,000…. not impressed)

Lesson: Never open a position less than $10,000 else you will get hit with an additional $50 brokerage (this applies for my broker - check with yours)