nice solid bounce off the 200 MA, if we close in the green this may very well be the short term bottom. Of course any more bad news and get ready for SPX 1200.
Risk: Speaking for myself, I wouldn't mind branching out. Any chance you'd be willing to post a trade or two so that I (we) could paper trade along to learn. Or is there another forum where you already do this that I could lurk in? Thanks.
Thanks risk, im looking forward to it too. You're one of the good guys on the forum, just like coach I do credit spreads too but from what you said it sound like the diagonals and time flies are the way to go for better safety. I'll definitely add them to my repetouire once I get a hang of them and understanding its behaviour. By the way are time flies another word for calender spreads With all due respect can u use some basic language once you put on your diagonal or time fly on your journal so I can understand it better No offence intended but feel free to critisize my lack of knowledge. By the way anyone...whats the SET for SPX? I have 1220 shorts on my verticals. Cheers
Yeah, it's the one with the cunning title: "riskarb's trading journal" You are aware there are threads other than this one right? LOL (just ignore me!) [EDIT: I see, you could have just been confirming the name of the journal you found - still, I'll leave my post for comedy value]
You have to use your imagination when deciphering 'arb speak. Riskarb squeezes a lot of information into very few words = knowledge compression and high efficiency. A (long) fly is short body, long wings. A (long) time fly is short body (near month), long wings (back month) a.k.a straddle/strangle swap which is a subset of the double diagonal class. A short front month strangle and a long back month outer strangle is also a double diagonal or following on from the time fly nomenclature it could be called a time condor???? All good! [ADDENDUM: Each diagonal can be dissected as a vertical and a calendar and thus behaves exactly as if you had both the corresponding vertical and the calendar positions! It all makes sense really] Half the battle in any industry/domain is the jargon. MoMoney.