Wow you are still at the mib monster TO! I am assuming you got calls (for cheap) near EOD. But the index looks like it might test long term support and go down in the short term. If it breaks that then its all air and hell below that! I am wondering what story you took into account
Another thing TO. Besides barry rudd I remember you mentioned another piece of information to take into account for identifying high probability areas and/or understanding the market/generals. Would you be kind enough to share that again as I wasn't reading this forum at that time Thanks - ML
well ML..trying to call bottoms and tops is..really..not required..as it is a game of odds..remember..3 more trades opened today with much less risk this trade was really done as an example to show how to control risk in a very volatile market..not risking too much..with good odds of making a few hundred â¬..or maybe even a bit more..but we will see how it turns out..and if a loser..no big deal it is best to listen to those who will show you how to lose correctly..for..most will try and show u how to only win..but..that is not how to make money trading..as the winners and losers are a part of trading..but most CAN NOT accept this fact..for OBVIOUS reasons the main thing to watch with this trade is days to expiry..as we have 18 trading days left before it expires..and each day/week will see a reduction in price due to time passing by..this is why buying options can be difficult to make money..especially if u intend to hold them for a period of time having said that..made some nice ⬠with long calls in the last few weeks..but as mentioned..profits must be taken when there..as u can see from the charts how quickly they can disappear TO is currently -â¬95..could have closed out this morn for a quick 35-40 pts profit..but decided to hold as an example..must be getting a bit soft in old age let us see what tomorrow brings..who knows..maybe the markets will rally up..or maybe not..either way..our risk is limited..and we have some time left to exit at small loss..or adjust trade..depending on market movements..have just put in a sell limit order for tomorrow at 420..let's see what happens..who knows..maybe it will move up..either way..we are not really bothered
mmm..mmmmm..mmmmmmm TO does not remember that..but if you send MN a PM he might be able to help you out ..but..be warned..not everyone can use the same information to get results..for..it is what you do that matters most..not what you think ask MN is the information best used with a specific market
of course u can PL..u can ask whatever u want..but always remember the famous quote the white line is the price of the option on the left..the blue line is the price of the index on the right..very handy graph to see value of option traded at different index price levels u will not get this charting feature with cfd/spread bet..and those accounts have their own advantages..and disadvantages..but if serious about daytrading the major markets..then the likes of IB is really a must..just make sure u have access to good charts like this one..to assist u in making trading decisions..as well as low commissions..for they do really ad up once you start trading
Dear TO, 1) Did you make your purchase near end of day of 25 June? If yes, why?? wouldn't the risk be higher 2) on a larger time frame, the lowest point is somewhere in May 125XX Why do you enter long now....because it looks sliding down... wouldn't it be a better bet to wait for the price to move up to 330 before going long?? Or on a bigger time frame...wait for price to hit 420?? 3) What is your stop limit? And why don't you use trailing stop? 4) Have you considering exit at around 320 on 26th June 1330hrs? Because I see the price try to move up twice. Once in the morning and then noon time....If this is the case, doesn't it tell us that price try to move up but each tie got sold down...so maybe it will hit downwards?? 5) do you set a time limit to exit the trade in a fixed number of days?? because each day beside the market price volatility....option premium is also reducing as time is near to expiry?? it is like a double risk??
Dear TO I was referring to this bit I followed up with MN and he has no specific information besides some stupid tick tock indicator
PL..everyone is different..and the risk i take may not suit anyone else..but that is how it is..u must find ur own comfort level and never risk too much..play the game for the long run..and U will make more money than U lose this one was filled about 1 min after i entering the order to sell at 150..for 70 pts profit..or â¬169 after commissions for this one..which was opened yesterday..noticed how the market continued to drop after it was opened ..but it still made money on the trade..with no stop..u do not have to call bottoms and tops to make money trading anyway..never mind TO..u must find a market that u are happy trading..and have enuf cash to risk so that it does not affect ur normal day to day living..if u risk money u do not have then u might just regret it at some future date..so..never risk more than u can afford to lose..NO MATTER WHAT! PL..as a matter of fact..TO has opened options trades on ftmib..where P&L has shown many â¬K in the red..not bragging..just fact..and trades went on to make many â¬K profit..so..u see when TO mentions u must not be afraid to see ur P&L in the red..he means it..but..u must only do this with money u can afford to lose..as TO could have easily lost many â¬K..as won..it is a game of odds..remember..and if u are afraid to lose money trading..then u will probably never make money trading..just a fact of life..for how do u think the market makers operate TO do u notice something of major interest on this chart?