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Isn't the only way the option would go above $3.15 would be if the stock price got above $83.15?

Hi, I've been investing for years with stocks but I just recently got into options. Ok so say I'm looking at XOM Dec 08 options. As of the time of typing this post, the call option XOMLP.X with a strike price of 80 traded last at $3.15. Question 1: If I were to buy this contract it...

I was just curious what signal you used for your short entry.

Can you identify the hammers in that chart? I see a lot of bullish hammers but that whole chart was bearish.

what charting program/indicator is that?

What about exits and stop losses? Also Re: rule 1, what about when price is below the yellow MA but above the green MA and it's rising, as soon as the green MA crosses over the yellow one, do you enter? Technically, all the conditions will have been met then (price above yellow, price closed...

I hear that watching options can be more useful than any indicator. Can someone help shed some light on this subject for me? What kind of things is one looking for in the options to help determine what the underlying stock may do?

Good call, I didn't see that.

ROFL!!!!!!!!! :D :D

It tells you how far price is away from a simple moving average except instead of showing you the actual distance in ticks, it changes the numbers so they appear on the same scale for every instrument. HOLY CRAP HOLY GRAIL!!! The only way that would be useful in trading is if price made a...

Can I ask why you use 2401 and not 2400 or 2402? Or 16807 and not 16806? Are those fib numbers?

I don't suppose you want to share your settings with us, do you? They must be awfully high ergodic settings for it to be that smooth over so many bars. At 343 volume bars on the ES... that's an awfully huge chart too, actually :D

I will give them this; their site is probably the best indicator for sale site I have ever seen. They post tons of charts, and will email you specific charts with specific indicators on them if you ask, so you can see how it would have performed in specific instances. This is unlike most...

These guys? :confused: http://www.paintbarfactory.com/Holy-Grail-2.php Pretty fucking ballsy to name an indicator holy grail. btw the way their charts are marked is bullshit.

I didn't think you were talking down to me. I just don't think MA crossovers work. What exactly do you mean by "system trading"? I understand system trading enough to follow a system. There were many trades i lost money on today.

Thanks. I don't believe that crossover systems work (based on backtesting), but if they do work, then it would have to be like how you said, where a huge home run makes up for everything else.

Yeah that's what I'm using. hmm... Can I get an IB demo account without opening a real account or depositing money?

You can trade small with stocks but there are too many stupid rules (PDT, wash sales) and high commissions. You can trade small with Forex but you're likely going to get scammed/traded against/shut down for scalping. And does anyone understand Forex taxes? So that leaves futures!

That's exactly how I developed my current method!!!

I'm trading futures.