Using eConsul to trade options+ Wizetrade trades

Discussion in 'Journals' started by asad147a, Jun 26, 2002.

  1. asad147a


    This post is for 06/26/02 : End of day results.

    Econsul Resistance 53.85 (As Per Weekly Signal)

    Sold MSFT MSQGL (July 60 Calls) (To close the position)
    AT 0.85 (Bought in the morning at 0.45)
    88% Return and 40 contracts = $1584 Gross
    Time Approx: 3.30pm

    So I made 1584-156=1418 intraday on MSQGL.
    In the morning I made 4444/- Please see earlier post.
    So total for the day is 5862/-.


    Bought MSFT MSQSJ (July 50 Put)
    At 1.35 (10 Contracts) More orders at 1.10 placed
    Time Approx: 3.34pm

    Why I buy Puts : ? Econsul weekly low has not yet met. We have two more days to trade in this week. Besides puts are pretty good in this market.

    Bye for the day. If other Put orders are filled I will post tomorrow.
  2. asad147a


    Now the Time is 07.49 ET

    This is what Econsul is saying today. 06/27/02

    Primary support at $ 52.56 followed by primary resistance at $ 53.88.
    Secondary support at $ 51.56 followed by secondary resistance at $ 52.88.
    Weekly support at $ 49.56 followed by weekly resistance at $ 53.85.


    My Strategy :

    Buy July 50 Puts if MSFT opens higher and goes to 54+ and then sell the same at support

    Buy July 60 calls if MSFT opens lower and at the support level.
    Also sell the MSFT July 50 puts that I purchesed yesterday.

    I am entering orders to buy July 50 Puts at 1.30 , 1.20 & 1.10

    I am also entering orders to buy July 60 calls at 0.50 , 0.40 & 0.30

    If the above orders are filled then I will close or hold the positions based on actual market trend.

    If my prices are not reached by 10am then I will change the order price and try to get in with less quantities.

    If I change the order prices during the day or cancel any order based on real time information I will post the same in real time.

    This is the second day I post. I am required to post only for one more day.
  4. Trades made:

    (06/27/02, 9:20a) Placed orders before opening an now I see that they were filled. 500 shares of AMD at $9.12 and 100 shares of CVH at $29.75. Both of these are stocks that are at higher prices than I normally track and buy, but since we are testing, there it is. AMD is set to sell at $9.57. CVH I am watching real time for now.

    10:10a. The cross developed here and I sold CVH at $30.84. I'll watch because I think I can get back into this one a little later. I gotta' believe here I guess. Bought 25 CVHSE.X at $0.50. Let's see what happens. :)
  5. Trades made:

    Cross happened on AMD and I sold out at $9.19. Market is now showing a down for the day so far. I am still holding the CVH puts and feeling pretty good about them right now. :)
  6. asad147a


    Refer to my post in the morning before market open.

    I had placed orders for buying July 50 Puts at 1.30 , 1.20 & 1.10
    Orders for MSQSJ were filled at 1.30(20 Contracts) 1.20 (30 Contracts).

    MSFT is down and my Puts are worth 1.70 now. I sold some (30) and hold on. But I placed the order to sell the balance puts at 2/- each. Becoming too greedy is also not good. We have trading opportunties almost every day or at least once a week. I think that is enough to make a living.

    The direction I got from Econsul was correct.

    I cancelled the order for buying calls at 0.50 and increased the quantity for the same (MSQGL) at 0.30.

    I am up for the day. (1.70-1.25=0.45*3000=$1350 Gross)

    This is my update for morning session.
  7. moffitt


    Now that is a good morning.
  8. Good one. I downloaded the eConsul software last night and I haven't had time to go through it yet. Are there any things that I should know about the software and using it? :)
  9. moffitt


    Now that you have made the play on the puts. What do you do now? Do you keep the same parameters for the day and keep trading around them??
  10. I have switched over to my personal parameter settings long ago. As I am experimenting here, I want to improve my vision as best as I can. I am very comfortable (for now) just sitting on them. The market (10:59a Chicago) right now is slightly down and unless there is a huge volume increase on CVH I should be ok. :)
    #10     Jun 27, 2002