u dont think u are wrong? what u need as a wake up call, go completely broke? i havent done my research? what are u kiddin' me; i've been tellin' u for ages your trade was aweful and mkt was very likely to rise this comin' summer/autumn even tho auguts usually is a terrible month for stocks. dont talk about research when u fucked up like few did in this board. LMAOPIMP.
i can't see a very bright future for this kid if he doesn't change his attitude and above all...if he doesnt learn how to trade!
OMG! :eek: BNT, even if we do go into recession, the mkt won't necessarily drop all the way down to your strikes. There are many character flaws a trader can get away with, and still become successful. However, <b>stubbornness</b> isn't one of them.
When you started your thread and put those views out I admit that it all sounded right to me. And the views of the guy you linked to. I had a very bearish view of the market too. HOWEVER the market doesn't pay you for being right. As you're saying, to make money in the market you have to trade the market effectively. I just wouldn't commit a large portion of my captial to any trade or trades without some sort of risk management. Never. To insist you're right and stick to this even when the market's telling you differently, is the way to get creamed and have your account wiped out. Period. To insist you're right is a type of arrrogance and the market is very happy to teach you a lesson. You have to wait to see how things play out. You have some idea of how things will unfold and some idea of what's up, but there are a lot of factors affecting the markets. All the reports lately have been very bullish and have driven this market higher. Who cares about "being right"? Just observe what is actually happening, not what you think should be happening because of blah, blah, blah. Just trade. If you cling to some version of things you or someone else has created even when the market is telling you differently will cause you to lose money. The market doesn't care what we think. I wait by the phone each morning for the market to call and ask me for my views, but it never does. BTW I lost money last Tuesday for having a short bias even though crude was off $2 for the day which I forgot about as I had just gotten up here on the West Coast and wasn't fully focused yet. I hate getting up so early. I tried twice to short support for YM and ER2 in the first hour and it bounced against me both times. Then I snapped out of this and got at least some of my money back. Lately this market has turned from a sell the rally market to a buy the dip market. A lot of traders are late in seeing when this change happens and thus keep trying the former strategy and lose money.
You're in SPX equivalent of 1050 strikes, down to 850? You're done. I know enough about option theory and curvature to know that the ONLY positive is the fact that your vols have increased from skew. Not terribly comforting when your options are trading at an 1/8. I know where those puts were trading when you made your 8/5 post. Any revisionist BS is simply that... bullshit after the death trade. How do I measure an abysmal failure? COGNITIVE DISSONANCE. You're doomed to repeat this event. You actually added to this train wreck of a trade? Bill Cara... Canada's capital markets? Oxymoronic? Here's some new math: Sell stock short, buy call with strike price above market price (partial put) My 17yo niece has a better grasp of synthetic positions. It's a synthetic put. Nothing partial about it. Word.
Damn, I wanted to tivo it. Was at the lake all day. JESUS CHRIST! <a href="http://www.putfile.com/pic.php?img=3637363"><img src="http://img1.putfile.com/thumb/10/28200053199.jpg" alt="Click to enlarge"></a>