ammo is very funny .. just a night before Thursday session I stumbled across this thread - http://www.elitetrader.com/vb/showt...&highlight=puts boatload oex&pagenumber=12654 "had 1 of those days in '89,short a boatload of oex puts,dow dipped 50 points, clearing firm made me cover, down 190 k in one day, 2 weeks later all those puts went out worthless,lessen learned , dont oversize your position and constantly adjust,i constantly reduce and adjust my avg price, and have a max $ position loss limit" ..and something similar happened to me next day..well.. slightly similar Not sure if your wrote it ..or text was part of flipfopper's quote ?
ksonsinc:, you mean you was making this numbers with 100 shares? When I am trading I am not counting $ dollars but net ticks made. out of last 7 days 6 days I managed to average 5 net ticks daily but lost 15 ticks yesterday. this si what upset me since I probably would be able to move to 300 shares had not I lost this much on Thursday. We generally scalp since our stops are so small. I started trading on January 18. so, 4 weeks already. Because I trade also Forex and previously and had minor exposure to stocks price action, it looks fine to me. at least I know where is my stop is to the tick.
You just can't get off the habit of being short. One day you may be hugely right, but you may go broke trying to pick the top. Never got that PM I suggested..... Re-suggesting....