SPX Credit Spread Trader

Discussion in 'Journals' started by El OchoCinco, May 17, 2005.

  1. piccon

    piccon

    Coach,

    I took a break from posting lately but I still follow the thread. I wanted to take this opportunity to congratulate you with the new member of the family soon to arrive.

    Also wanted to thank you for the education and risk management knowledge that you convey everyday.

    Some people in this thread tend to blame people when they make mistake or dictate to people what to do with their money.

    I am very open to criticism but sometimes people go overboard.

    You are a teacher and have special way of communicating wealth management and education. So I would give you my blessing to go out ther and preach the good news.

    Wanted to thank you and may God bless you and your family.

    I will not post often but will for sure follow the thread as some aspect of it is still educative



    :) :)
     
    #7391     Jun 5, 2006
  2. The problem always is that the approach you outline snifss of market timing. You are going to try and time correctly each tranche of spreads you add and most times you will add a small position and the market could never come back and you are going to average in at a lower prmeium then if you simply opened the entire position.

    My opinion is that more often than not you will be off on the timing and may actually reduce potential income trying to time it right. You can test it out but we need to be in a nice rangebound market where you will not run out of time to get all your positions on.

    I am looking at JULY once I close off the JUNE call spreads which I need a good down day to do so. I will try today and if cleared I am going to wait for the move to 1260 or so I am expecting (hoping) for and a little IV spike to grab some way the heck OTM put spreads for JULY.

     
    #7392     Jun 5, 2006
  3. Thanks piccon, Aard and Scoobie Doobie DOOOOOO
     
    #7393     Jun 5, 2006
  4. OX is down, good thing I do not daytrade with them lol..
     
    #7394     Jun 5, 2006
  5. Crucis

    Crucis

    They couldn't have been down more that a minute. My streaming quote window is running fine and still logged in.
     
    #7395     Jun 5, 2006
  6. No worries. THANK YOU :D
     
    #7396     Jun 5, 2006
  7. No it was my POS computer screen that had a glitch. I closed the window and logged in again. Never mind :)


     
    #7397     Jun 5, 2006
  8. no wonder OX is a bit slow today. Not totally down though. Still working...but slow :(
     
    #7398     Jun 5, 2006
  9. nlslax

    nlslax

    I noticed that too.
     
    #7399     Jun 5, 2006
  10. OK... thought it was just my PC. Might just call it a night and go off to sleep my side of the world. bit late. :)
     
    #7400     Jun 5, 2006