I buy directional call and put options daily. I would hardly define myself as a gambler, or someone who strives to be lucky, If someone, a trader, has good understanding of the trade process and future....they can make very good money from the market. The Holy Grail is knowing, or generally knowing the future, -- if someone has that, they have the magical keys to the Kingdom,
Ted's not so sure about that it would appear... Interested in both your views, Windlesham1 and TrailerParkTed.
Not till now. How in hell do you guys spot this stuff in time? Windlesham1, suppose that a trader saw a SAVA chart around 9:40. (Granted, a feat in itself considering it is one tree in the tangled forest, but just suppose. Would you say that using a buy calls to enter based on a tested setup/trigger that occurs; one at 9:50 and another at 10:04 would be gambling? Why?
%% And if cant get the 70 m ; 5 million a week, or a bit less = fine....... LBR said the ''holy grail is a buy @ 50dma'' ;maybe not so much in a bear market even though may have worked well this AUG. She likes horses also
Count me in on that fitty trade, but Only after Consideration of the Price Action at one of My Favorite Friends on the Chart. To just enter any old time the fitty is in the neighborhood is being Foolish for the Fitty I Believe. Man, I hope a Gone Fishin Trade rolls around this afternoon... https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-18#post-5657069
%% ZZ Top\LOL DIA still above 200dma/ too bad that'$ not the main benchmark SPY is still below 200dma\ but SPY= above 50 week ma. But she [Ma, LBR noted was 50 dma , not 50 week ma] i dont need ANY good luck charm hanging around\ i dont need no wishing well\ or be the talk of the town\ to put my money down/LOL- 1999 Mike Purkey Song.................................................
We all got our ways. Some of 'em even work. Amen. If she works, put her in the tool box. If she's too much trouble, there's plenty of fish in the sea. Move on to something that does, and into the tool box she go. Rinse Repeat.
Call volume was going nuts, I have been following SAVA for years so it’s like seeing fresh elephant tracks on my dirt trail to the liquor store. @Dustin was posting his $200-$400k day trading gains. He’s a god with stock option direction.