1. Oh yes, 50% would have been gone! But I didn't start with PEET. 2. Then I would own up and say the stunt was a bummer. At least, no one else but me would have lost 10K. $9k is alot of money to small traders. I usually buy in excess of 100-200 contracts. But this 10K stunt is aimed at proving something. Members of other forums are watching. Thanks for watching though.
Hopefully anyone who tries to make $100k with $10k in a couple of months understands the risks invovled. Besides, gambling and trading are the same thing, imho, just one has better odds if you set yourself up correctly. Anyway, it can be done, just very unlikely. - The New Guy
After a huge loss on a 1st trade though few people would continue. It would be very hard to put more money in. It seems to me you got lucky on some trades and now are betting the farm. Your charts got you in at the top today then a huge slide after.
Yes, you are right, not many people would have been able to continue with 50% loss in the first trade, but it hasn't happened yet. The trade has not been closed, so losses remain "paper loss". Could it also be said that I get unlucky with some trades?
The markets are perverse. Just when you want them to do something they do the exact opposite. I would bail out of PEET for petes sake. I am a tape reader. The tape says it will go below 30.00 tommorrow. It was a sell off today and demand has not come back in yet. I expect it to go lower tommorrow. It is still headed south and who knows how far??? This is markdown phase for the next few days. IMO.
Was your stop at $1.70 or $2.20 - $1.70 = $0.50? Also why so many options on an extremely low volume stock, and very high bid/ask spreads ($0.20) on the options? Another concern is buying so close to expiration, is that not gambling? For petes sake, wake up and smell the coffee, this is insanity ready to brew over. You young SBUX's think you know everything.
lol, nice word play. Funny, i've had three cups of coffee and two of tea today, hasn't even produced a mild rally in this stock yet... guess it's still brewin'.... - The New Guy PS I took the stop to mean $.50... waiting to hear from the fearless leader on this one.
Peet's starting to show some life.... did all you ADD traders lose interest in this already? lol - The New Guy
Yeah, haven't seen much of the original poster, although he did say he doesn't trade everyday or something like that. I wonder if I should sell my 2 contracts? lol - The New Guy