FWIW... Never actually take advise from anyone on these forums....having said that... I actually liked your trade Snugglepuppy...you have had enough movement over the past 3 days to make a nice profit depending on how you played it. I have to give props to DB as this person has given numerous thoughtful and detailed posts on options trading for some time, and has been open to discussion on option theory and practice. FF the only problem I have had with your recent trades has just been the simplicity of them...straight long calls or puts that either work or don't. You may as well be going long/short the stock. I haven't gone thru all your prior posts but assume you don't do any other type of option play...calendar, diagonal, condors flys? let the feathers fly...
Thanks for the kind words Richard. To forex: I'm not interested in a 'fight' - you win, well done and I hope this victory will be reflected in your trading account. I've nothing more to say and now find this board has become nothing more than cheap entertainment value with the occasional interesting post. This isn't one of them. Cheers db
All option positions fit into the "either work or don't" category. My last live trade in real time on ET was an Iron Condor (125/126 and 136/137) on the DIA when it was trading at about 130, details here , that trade was opened about 2 weeks ago and if you have comments on it please post them over there. Keep in mind that I do post a few live trades which I can't fudge the numbers latter on, I don't see to many other live option trades posted with the exception of recent trades by TradingPilot (DIA Iron Condor - same link as above) and snugglepuppy666 (this qqqq straddle).
If you have nothing constructive to add then stay away, don't waste your time. Perhaps you have outgrown EliteTrader.
My constructive advice was for newbies to get some option education even if it is only in the form of some books and think about attending some courses in order for them not to make the same mistakes you made (and probably still do). I don't comment on your trades because I use different strategies from yours, but that wasn't my point. But don't worry, you can relax, I won't post anymore on this board. db
They can pillow fight in my room anytime they feel the urge. LOL ... when they're done, then we can talk about straddles.
You haven't offered any advice on this thread, until that short generic advice on books and courses. I have posted a few live real time trades, some are good some bad. Do you have the balls to post one? Have I every expected YOU to comment on any of my trades? This thread isn't my trade, but I do think long QQQQ straddles are better than short QQQQ straddles as the 1 year QQQQ chart I posted shows. Why not? If you have something to offer then share it.