Are you going to ever post blotter pics of your P/L? I like how you conveniently disregard any posts in your threads regarding that.
Its not a question of if you are going to blow your account out. Its a matter of when I predict once the indexs starts to downturn, you'll be blowing up by then, past 5 weeks have been very bullish and your ass has been saved multiple times. You have not went through a bearish downturn this whole year.Thank the market gods!
"Its not a question of if you are going to blow your account out. Its a matter of when I predict once the indexs starts to downturn, you'll be blowing up by then, past 5 weeks have been very bullish and your ass has been saved multiple times. You have not went through a bearish downturn this whole year.Thank the market gods!" Really? Most of my trades I made money instantly. Only some afternoon trades I ended up staying in longer than 5 minutes. And I would say about 60% of the profit comes from shorting as opposed to going long. If your prediction is right, I will make more money when the market tanks. I hope it happens because I didn't make profit as I wanted today on buying EBAY puts. Bought 200 puts at 2 different times and made .1 on 100 and broke even on the other. Also, made .1 on 100 puts of RIMM earlier in the day. That is one should have held on because I knew that scam stock was going to tank. Later, bought the common twice (1500 shares each) for another $350 profit. Up about $2800 for the day already. Good luck with your trading!
Wow, just remembered, I went to RIMM put twice. I made another .1 on 100 puts but the darn comission on these optons trades are crazy. .75 per contract plus $7 upfront fee. Anyone else trading cheaper contract besides Interactive B? I don't want to use them because I heard about their horrible customer service.
Well, Now that you have said that, I'm sure you are going to make your first million by the end of this year. lol
Hi Cheetos, If you are scalping options like that, wouldn't the bid-ask spread kill you a lot of time? Regards, KC
Keep it up Cheetah. You are taking on a higher level of risk than many here would like, judged by their comments on the thread. But as long as you are ok with it, more power to you. If you do happen to get blown out in a black swan event you can always build up another stake and start over. Small accounts are replaceable. Big accounts are not. Each person has their own idea of big and small.
"Hi Cheetos, If you are scalping options like that, wouldn't the bid-ask spread kill you a lot of time? Regards, KC" That is why you have to execute a perfect entry. But sometimes its easier to scalp the options than the stock. I always wait for the pressure point when the price about to flip and watch to see if the stock is going in the direction I am predicting, then I grab it quickly. That way, usually, as soon as I buy, at least my buy price becomes the bid. But this strategy means missing out on many opportunities because the price changes and its too late. Also, heavily traded stocks and their options usually have very tight spreads. Most of the time only .05. Also, I don't touch options about $3 because that has .1 spread by default. Anyway, gave back $450 at the end of the day on ERTS. Bought 3000 shares and sold for .15 loss per share. Amazing this stock. This was the one I actually tried to buy 100 puts this morning but missed the boat. Then it wen down a lot, I thought time to go up but nooooooo..... Waiting for WTW earnings. Really wanted to just buy shares and gamble but something stopped me. I guess I didn't want to give up the gains in case I am wrong.
"Well, Now that you have said that, I'm sure you are going to make your first million by the end of this year. lol" At this pace, I should be up over $250k by end of the year. But remember, only half of that is mine and I have to pay 50% of the tax on it too so it doesn't add up much. I am having so much fun these days. Don't let the fear of the market get you. You hesitate you lose. That is what I did wrong in the past. Either go in when you feel it or don't go in at all. Few seconds you take think is where you lose because the stock has either run up or down during that time. If you go in fast, you get extra time to get out in case you're wrong. Good luck!!