. No I am not, but a number of people asked if I were a diplomat, was one, or whether I plan to be one. Since you asked in that manner, I am wondering whether you felt that I may have implied something in my note. If so, your note would then be a diplomatic way to signal something to me. Get them Falconview... You are trading in paper, and they can not match the skills and long experience of a young man like you. I would not be surprised that the winners in markets are retired people. The emotions and patience they show is in line with markets, but they need to have the knowledge and skills of course. Psychology as you most likely know is critical in speculation.
But should I look at them from the perspective of call/put spread trader, or from the perspective of a condor trader. In case you are thinking why should this distinction matter in the first place (since a condor is just two spreads (one put and one call spread)), you now know that I think it does matter. To help me think about the right question, please clarify. Thanks.
T J So how do I read the EUR/USD as an indicator? a) If the Euro goes down it leads the market? b) If the USD goes up, it leads the market as a Down Signal? Enquiring minds would like to know? __________________________________ Actually I find that down signal for the EUR interesting. Wish I'd looked at it earlier, like yesterday.
The EUR chart actually turned over in the histogram and started down four days ago. My signal indicator also gave a DOWN trend, 4 days ago. The actual EUR chart started losing momentum about 14 days ago. Does it do this consistantly?
TJ, can I cheat and ask you for both? (then I might be able to figure out the distinctin myself) Thanks Michael
Stanford and TJ I'm out of the market for this weekly expiration. I went from a + $1590 net gain, to a net loss of - $2320. Won't kill me, but I sure hated getting panicked like that. Two things did it. I had just looked at the OPEN INTEREST after re-reading the blurb about Expiration coming close to the biggest OPEN INTEREST and also the breakout of the RESISTANCE overhead. Which turned out to be a FALSE breakout. I was panicking because last time this happened three months ago, it cost me $20,000 because I waiting until the index almost touched my sold side. Both then and now, I would have won if I'd stuck with it. Overall I can accept the loss of the week trading and the debit of $2320 a whole lot more easier than the loss of another $20,000 or more. So, it is okay! But I'm out of the market for this week, unless the market will drop about 7 OEX points and my DEBIT SPREAD starts to gain. It has been range bound within the parameters I need to start another trade, without actually doing anything. Thank heavens a DEBIT SPREAD is insured against TIME DECAY.
falconview, losses are just part of the nature of the way we want to trade. Hindsight as usual is perfect, but it could just have well kept going up and you would have lost more. I think you did just fine llimiting the loss to 10%. If you never have a loss greater than that, you will do very very well. (In my rookie view) Michael
Falconview: I knew he would ask for both. This Stanford fellow is very smart. Probably the smartest dentist in the world--- over the whole century. Now that he asked me to think a lot and for two problems, I should think about what to ask him. I have something in mind, but if I say it he may disappear for good. Stanford: do not get scared. nothing you do not have. Anyway, check your email. Answer will be sent there. We do not want your future competitors to know everything.