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We actually have a battle of two markets. On the one hand, the SPX is in a perfectly tight and smooth uptrending channel, with daily closing pullbacks supported at the rising 20/25dma. On the other hand the COMP has broken down at the faster 20/25dma's, but is being supported at the rising...

cm69, I ran across your journal here and read it. I have to compliment you on your honesty along the way. You have reported the good, the bad, and the ugly and just kept going like the Energizer Bunny. Here is a friendly suggestion from an older trader on a successful...

No I do not work for I.B., but I am willing to bet you if you ran a survey poll for traders with 4 or more years experience trading, at least 50% of those traders would say their broker is I.B. The monthly account fee is only $10. You will make up for that with one option trade compared to...

I looked up the Scottrade website and I noticed their commissions on options is $7.00 trade fee plus $1.25 per option contract. Most newby option traders start out only buying 1 option contract at a time until they get a feel for the the "in's and out's" of option trading. Here is the...

I bought a Larry Williams Trading Course in 2000. The course was actually video's recorded from a multi-day live seminar. It contained several video tapes, and a lot of books and charts. The course also gave the purchaser 3 months usage of his phone hotline. I wasn't a commodities...

57 years old from Concord, CA. Been trading stocks and options almost a decade. For those of you debating about what constitutes a trader: Remember how exciting its was when you were a beginner. Your first winner..your first winner....learning a new technique... all those wonderful...

After almost a decade of stock trading, index option and stock option trading, this year, more than any other year that I have traded in previously, teaches me the following: 1: No two years are alike. What worked last year doesn't necessarily work this year. One must constantly...

I agree with staying out of short trades when the market is this bullish. In the last 4 months since early August (when the SPX had a 20dma/50dma bullish cross), the market has only had follow-thru price action to the downside on a few rare occassions. The majority of any short attempts have...

Do you short the SPY (or buy SPY puts) when its overbought?, or do you only look for bullish opportunities when the SPY is in an uptrend? Jeff

Hi Ron, Like yourself, I trade the OEX daily and have for a number of years. (I also trade stock options.) I started out several years ago with using mathematical mechanical systems. I traded this way for a number of years and finally got tired of the inconsistant...

Hi JJ, I trade the OEX using pivots. This morning the OEX has blown through S1 (647.13) and is heading for S2 (644.61). I bought the Dec655 calls when the OEX index price was S1 +.25 and I stopped it out at S1 -.25 This represented an -8% loss on the Call options from the entry...

Bben, I have been trading both stock options and index options since the 1990's. When I was a beginner, I did the same exact thing that you are doing: looking for some magic advisory to hand me successful trades. I literally spent $10's of thousands of dollars on at least 20-25...

Hi D, I have been trading index options for several years and I believe you have made a wise choice to avoid trading them, they are a science unto themselves. The price action of many index options (particulary the OEX) often do not truly reflect the price action of the underlying...