Search results

Okay here are the rules from Gary Smith's Book: For entries. 1. V-Bottom Upside Reversal. 2. Late day upside Price Surges. 3. Extreme momentum Days. 4. Friday to Monday momentum. For exit: 1% true selling day. Here is what I have in my chart. Daily chart of SPY/IWM, 13D BB...

I was an intern only so I did not get paid much. After I finished school in 2003, I received a full-time job, in a different industry.

Because I was long SPY and ES at the same time and I'm still long SPY with a nice profit. I bought more SPY on the way up too. Had I done the same with ES without even pyramiding on the way up, I could have 140 pts. profits. Basically with ES, I would enter as a position trade and exit on any...

Thanks Jimmy, I'll look into that. I read his other book but wasn't too impressed. I have been around here for a while and always admired your encouragements/help to other people.

I need to take the dog out and get some dinner. I will be posting strategies later tonight. It is based on Gary Smith's "How I trade for a Living" with few more filters for better entries. Please get that book so that it will be easier for you to follow what I am talking about. Your local...

Very true!!!!

Not really true. I had defined risk and I would buy/sell on pullbacks. If the position did not go the way I had anticipated, I would get out at the close or until stopped out. My stops were wide about 10-15 pts.

I no longer work there. The guy hired me as a favor so I did not sign anything. I used to wait tables at this restaurant where he came to eat frequently. Once I found that he was a trader, I asked if he needed any intern. After few days he called me. Guess I was lucky. Besides his main thing...

Lots of things. Will post more later today. I usually do not come to ET or any site during the market hour.

Exactly, that's the reason for this journal to overcome the fears. I was long SPY and ES, and I'm still long SPY. I wish I had done the same thing with ES too. So basically I'm making money on stocks and losing on futures. Maybe futures is not for me. We'll find out.

A pure trend following approach. Followed the long-term MA.

There are lots of people on this site looking for a mentor. I was fortunate enough to find a mentor. He manages a fund where the AUM < 20 mil. 20 mil is not a huge amount of money but it was a 1 man shop and about 4 mil was his own money. There were 5 people that worked there: 1 Office manager...

Makes more sense. Thanks.

I do not think it is same as being short 1320 P for 15 premium. So if the ES settles at 1305 at exp, I'll breakeven if I sell 1320 P for 15. But with my covered call, I'll actually be making: 15(premium received) - 5(loss in the ES) = 10 points if the ES settles at 1305. Am I missing...

Ok here are the scenarios that could take place. ES trades above 1320 at exp. and I'll be called. My profit will be 15+10 = 25 points. ES trades between 1310 and 1320 at exp. My profit will be 15 + Closing Price - 1310 = Atleast 15 points Es trades between 1310 and 1295. My...

Just recently got interested in Options and have been reading more but I would like to ask people here regarding some of the things that I should be paying attention to. Currently I'm trying this on a Paper-money account for practice. Here is my position. Long ES Dec @ 1310 Short ES Oct...

Tony used to post here. I think his handle is ghargur2.

Sent you a PM. Finally someone from Lincoln, NE.

I remember reading the following somewhere and it made the point. Two friends (Jim and Joe) walk into an eye doctor's office. Jim asks the doctor if he'll be able to read if he got a new pair of glasses. The doctor replies, "Absolutely". Then Jim looks at Joe and says, "And you told me that...

I do not know what technicals you're talking about but the S&P closed at 1294.12 today, so it'll have to go up 5.88 tomorrow for it to hit 1300. I'll have to say The Bird Nailed IT Again. Let's talk tomorrow. I'll be selling ES at 1298 with stop at 1302.