I have just one trade going - PEET Oct 30 Call purchased at $2.20. Will start multiple trades if/when account grows to around 40K.
Multi -- I thought you bot PEET Oct at 2.20 ?? I bot it at 1.65 and sold at .70 - (did not have the risk tolerance to stay to the end!) I , like you, ascribe to buying the nearest in-the-money on volatile stocks. However I never commit more than 10% of my capital to any one trade. And, always exit if I have a 50% loss. Am still watching.
Thanks for the correction. I should have checked before posting. My stop loss is set based on some flexible rules: 1) If the trade was picked by intraday signal and if premium cost between $1 and $2.50, I normally bail out at 0.50 - $1.00 below the entry price, but if trade is deep-in-the money and cost $3.80+ my stop loss is usually at 50%. However, rules differ if trade is called by the daily chart; PEET is a classic example. I knew bearish move by Stochastic wasn't reliable. I'm used to seeing cases like that! 2) If trades are called by the daily chart, previous week low is my target for long position and previous week high for short position. The intraday would clearly indicate a shift in direction by the time stock touches/breaks its previous week high/low. Rules are flexible, but most important thing is to stay in the game within 5-7 trading days.
hello bro... I agree with what you stated... it's part of human nature to want to see others struggle or fail... and/or if they do succeed then detract from such public success by claiming it's random luck, or if not then comment how they are obligated to give others their plans and secrets in detail for free to show that it was not luck... ... thereby removing the need for the lazy ones to do any of their own work. The irony is that even if they were given the external "secrets' many of these people still wouldn't be successful since they don't have the inner secret, yet. Ice
pinabetal... we notice you came on this thread to tell him to bail... but have heard from you since then as PEET moved above 32.50 today... why is that? Not reading the thread anymore? icE
Yes! Based on the technical outlook, this stock could fly up to 34, then 36. I'm keeping a close tab on it. There's the urge to bail out but that would violate the 7-day rule. The stock is shooting up with the possibility of over $2 gain; but then, the option expires this week. You may bail out if you so wish. I will go the extra mile with the trade. Profit is at 2K, so profit management may kick in anytime soon. I'm looking at a rise to $33/share before pulling the plug! That should give $3,200 gain. Anything short of that is like a waste of time and efforts. It's dicey!