Stock option trades

Waiting for a retracement to go long qqq puts. May happen today or tommorrow.

 

Probably scratch this weeks trade, missed the downmove. I'll wait for next weeks upmove. Trade long calls.

 

I really like the way you wait for your trades. I am just starting to learn that. I have a difficult time in my gut thinking that I will "miss" a good trade when I see a possible set up.

 

Question. What are you setting your stops at when trading the index options.

 

Stops are set at the swing high or low or the previous day high or low. Depends on the situation. No system, discretionary trading.

 

thanks for the reply...

tough to trade optons with a small account... no?

I

 

Iceman,
Yes it is. Being very cautious. But just sent more money in, it may help.

 

having a smaller balance to begin with will teach more discipline

 

Plus I'm risking less than 1 weeks paycheck on each trade.

 

Expecting a cycle low in the next few days. May be good buying opportunity as has been in the past.