Yeah, but Slippage and Commisons are. But if you can seriously scalp 2 pts (or the options equivalent) using options "more power to you" while trading "off the floor" that's great. As far as your other questions, please read the earlier posts. (Not for nothing, I personally agree with you about the getting 2 pts and moving your stop to breakeven point, because I'm greedy and I like to take advantage of what the market is going to give me). Best, Jimmy
I hear ya about the R/R. If you will look back I detail how I exit a trade and even why I do it this way. I just don't get that much time to sit in front of my screen. I actually enjoy getting in making my points and being done. Much more relaxing trading this way. My R/R goes up with the idea that one losing trade I can make up either that day or the next as detailed earlier. For daytrading the S&P emini my broker requires $500 per contract in your account. So with 5K you can trade up to 10 contracts per day. Each contract pays $50 per point. When I did options I did long term plays sometimes lasting 6 months. So time decay did matter to me. 4re
Looks kinda bearish, but until I get the 30/15/3 (or 60/15/5, or whatever floats your boat) on the other side of their 20 sma, with price making a run at 1263 (previously established Support) moving to the downside I can't do anything with that. What I mean (and I got this from the book on poker playing), is that you're going to win some, lose some and have a lot of "folds" (in my case, breakeven trades). So long as I have a formula for consistently determining what's happening in the market, I'm going to win A LOT moe than I'm going to lose. ... and lines and wedges ain't part of the formula (I like to KISS). Jimmy
Yeah, that was a 15 minute chart so don't know when it will break out. I am always looking though. Especially after I am done for the day. No more trading for me today.
Unless a great many traders trading a great many contracts/shares have drawn exactly the same line that you have, no. Potential S at 68, then 67, then 66.
I guess we'll see soon enough. Did you ever get your second trade in? Hopefully you are done as well.
Were you seeing the same thing that I posted? I am not trading anymore today just wondering. I like to keep my eye on things anyway. Thanks