and then a few weeks later.. aphie.. youve been given a tremendous amount of help on this board.. youre losing because you thought you knew more than those who tried to help you.. even if your new option position does work, you wont win in the long run because youre out of control.. get a grip on yourself, stop trading and figure out what your strategy is.. then you might have a chance to learn something.. and dont think you are learning just because you are losing money.. its entirely possible to wake up today and lose money the same way you lost yesterday and the day before and not learn anything.. good luck.. -qwik
Don't listen to these dream-destroyers. And hey... I have a game for you: I'm thinking of a number from 1 to 10. Post what you think it is, and if you're right I'll send you $50,000 cash -- if not then you send me your $5K (or whatever you have left ). If you like this game, we could play weekly. This could be your best opportunity yet to hit the motherlode!! I'll be waiting for your answer. dog
this offers an excuse to post a sort of proverb: <i> For every sinking ship, Providence has appointed a Captain to go down with it.</i>
I am now starting to see the trials and tribulations of becoming a successful trader. I must stop doing this half-ass and really buckle down hard and treat it like a business. Alas, as TS Elliot once said: "We must not cease exploring, until at the end of all our exploring, we will return to the beginning, and know it for the first time."
charles, what the %$#^ u should have taken don out by now you will be the one that deserves the respect to go with the title
November expirations seems too soon. Of course those options are cheap now, but for a reason. No doubt the 'plan,' if you believe such things, is to keep the market rising past elections. However this rally has the potential to linger on a bit longer than people expect, especially judging from today's action which was the 'GOP regains control of the Senate' rally. (Hate to be ghoulish, but as Cramer says the market does not pay respects.) I have trouble believing that your consider your actions to be part of a reasonable business plan. I suppose its because you don't know what a reasonable business plan is. I suspect that if your uncle or father (or whoever is in charge of you) were to read your posts, he would close down the trading and put you back in school. Not being mean or a dream dasher, but the market can be meaner and dash more dreams than any jerk on ET. You do not respect the market and you don't understand the parameters of your trade. I can't see how this is going to end up happily.
and if I can just briefly join in the quotefest, Thomas Carlyle said: "âFoolish men mistake transitory semblance for eternal factâ which is where, unfortunately, you're still at. in the wise words of et's very own Dr Zhivodka, we need to aim for some measure of truth beyond the platitudes.. and at this stage, you've shown but the barest trace of a conceptual bridge between the saying and the all-important doing... come on bro... this is getting painful... so let me, for one last time, attempt to dispell any remnants of grand illusion about the trading lifestyle you might be harboring: this is fuckin serious shit, it demands fuckin serious attention and requires fuckin serious committment.. anything less than that and you are seriously fucked! your heretofore lax "it's cool daddio, 2pts a day? no sweat.." attitude is not only highly deluded, it's an affront to humanity!
Sigh. All charts look like that. Its a psychological bias that you have to train yourself out of. All markets which rise look like they are sooo high up and surely must fall down. (As a corollary all falling charts psychologically look cheap and appear due for a reversal to the upside because they are near the lower boundary of the frame and are near the 'ground.') However this is not true. A market that has gone up alot has the potential to go up further. That is why your counter trend trades all resulted in quick losses. You were picking tops and bottoms in a trending market which is THE EXACT THING YOU MUST NEVER DO.