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Nq just hit 1139, i'm out all NQ's + 14 on some, and + 29 on the others. I'm also out QQQ calls I bought this am. Still holding calls from yesterday.

Also, there are ways of doubling down that produce no extra risk. Here are the methods I use for doubling down. If first buy is on NQ @ 1500 and NQ goes to 1590, I will put on an option spread (buying calls and puts with a 1/1 ratio) while the price is @ 1590... this essentially limits my...

the negative effect comes from putting everything into a loser. for me, the play is not yet a loser because i made money on the options spread.... at todays low, I was just at break even. I like to diversify alot as well, so even when i am doubling down, it's not all my money, it's only a...

as long as u can keep averaging, your sure to come out a winner regardless of timing. :)

I remember a thread not to long ago about averaging. Most people thought averaging was a losing proposition. Some thought it could be done profitably if done right and for the right reasons. I use averaging every time my gap play goes against me... as long as I still think i'm right. :eek:

I sold my puts for a nice gain:). I still have calls.... all worthless :( . And i bought some more, as well as a few contracts of nq. Will sell everything I bought today when we take out the hod... calls from yesterday get sold when we touch 1150. we'll see how it goes.

my stop loss is when i lose 1/8th of my daytrading capital. :eek: thats why I only use 1/8 of what I use thruout the day on these plays. I buy options at the close, and if it goes against me, I buy NQ at the open. Roughly tho, my stop is 1203 on the nq's.

long more NQ @ 1112 based on some simple fib #'s, I think the futures bottomed @ 1105. I'll keep buying between 1112 and 1105. edit: my simple fib number is 185.4 on the daily nq chart.

the dow is the pillar of the US' strength imo, i doubt it will collapse anytime soon. (altho one day it will i'm sure :D ) edit: it's a completely different beast than the nasdaq... they are both at totally different stages of a bear market. people are so used to shorting the...

it will get slaughtered one day. but I don't trade it, i trade the NDX...

buying the stocks instead of futures wouldn't have given you the opportunity to sell when the futures peaked @ 4 am this morning.

wow, i just realized something.... theres a whole new batch of traders who don't know how to trade, they only know that the market always goes lower... if there is any lesson to be learned from the 90's bull market, most haven't learned it. All trends come to an end. If you can't...

MSKL, it just occurred to me that if the stocks were a better deal than the futures, you could have shorted the NQ futures and bought the main NDX stocks for zero risk. You would have made guaranteed money through that spread. Good for you if you did that. If the spread profit wouldn't be...

long term predictions are no different than short term (1 min) predictions if you are using tools like fibonacci, elliot wave, trendlines etc... :D but if you use the bid/ask, or level 2, or even things like stoch or bbs, u probably shouldn't be looking at the long term. :p splitting my...

i really disagree with that, but we'll see.

Thanks for your informative post. I wasn't watching any stocks as I usually only watch futures in overnight trading. I'll have to check out what you said in detail. I'm really glad you like me maybe we do some more trading together sometime.

what you said reminded me of Soros' theory of reflexivity... it's when the technicals become the fundamentals that a reversal is pending... it's just a matter of weeks now. daytraders don't mind me, just long term rantings.

it may be random to some and logical to others, if you understand and can see the patterns that occur, and you can make money from predicting their outcomes, then it's logical. but to everyone else, it's random :p

that was then, this is now... the importance of pyramids is not whether they eventually get buried or not, it's whether they are useful during their time or not. i'm not that smart, but you don't have to be to pick bottoms, you only need statistics and luck.... so thanks, I can use all the...

we have to take out last septembers lows. since this is wave 5, the trend change is near, however wave 5 can be nasty. if you want confirmation, once we get a new weekly high/low, the trend is bullish... but until then, the trend is down and what was once way out of the money puts is...