Hi Iceman, Thanks for the input. Away for a few days, then started a new job with a lot more responsibility and a steep learning curve so I've been preoccupied lately. In response to trading being easy, I have a number of beliefs that have served me impeccably in life and in achieving my goals. These beliefs include, EVERYTHING is easy! - from molecular genetics to virtuoso piano, from brain surgery to running a marathon. There's a reason the pros make it look so effortless... you just have to discover the secret, and that's different every time, but once you do... magic. I speak from experience. Life is a game - and you decide the rules. There's no place for fear, hesitation or limiting beliefs in the fast-track to success. Other people's pessimism or optimism is a non-issue. I could go on and on and on and on... And here's a trading update... Closed ALL my open positions as transferring my account to ThinkOrSwim. Negotiated a comission structure I'm very happy with. Have beefed up my account to 30K. Going 'under the wing' of the trader who introduced me to this exhilerating world. Up until now I've just been getting my feet wet. Now I have a deep sea diving instructor. And after three months, I'm diving solo. Hasta entonces.
thanks for the reply- was wondering what happened to you. well APOL did trade back to 59+ as we discussed, and analyzed on this Journal. The analysis was right on so far as seeing the bullish engulfing pattern (on weekly chart) back on January 23rd as a key st reversal, and so far as the saying resistance would be the prior January lows, and the gap. The stock did make a higher high on weekly chart (but also closed lower) so I will hold my long calls for now, with a tight leash looking for 62-65. Overall market strength (or lack therof) will be a factor, I believe. So Neoxx what's your take on APOL- now?
ACAT transfer from IB to TOS complete. Opened diagonals in OIH, MRVL and BTU. 20% of total equity in each position. Astride the twin Torpedo, Nitrox-enriched I take the plunge, divemaster by my side. Ice, I hope you sold those calls.
Hi Neoxx...good luck on your trades. Could you be more specific on your diagonal's (I'm also into diagonal's and calendars) ie: specific position? Thanks donna
Buying ITM leaps, selling front-month ATM. So effectively covered calls with stock replacement. All current and future diagonals will be constructed in the same fashion. I'll aim to have 100% equity invested the majority of the time. I'll aim to boost returns with some credit spreads once I've settled into the strategy. I plan to take full artistic licence with my posts, eschewing figures and stats for creative description.
Two more diagonals - SLB and AAPL - and 100% of equity locked, loaded and fired into the churning blue waters of the Marianas...