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Isn't there some sort of stop loss strategy I can use? Let's just say I got $2 for the put. So, if the stock drops to $23, then I'm breakeven. If it drops under $23, I can buy the puts back for a small loss, right?

I just learned about an interesting strategy and was wondering if any of you guys do this. Here's how it works... Say, you're watching ABC stock, and it's trading around $30. And you're interested in buying if it pulls back to $25. So, instead of placing an order to buy at $25, you...

You're very welcome!...just giving back a little. EliteTrader is a great place to learn from and find some cool links!...:D Best of Luck!

Oh yea...this is a pretty good one, too. Lots of good links on the left side. incrediblecharts

Here's a site that might help... Chart Patterns

Yea...I'm kind of like dotslashfuture. I just try to shrug it off.

Well, you have a point, there. I think this thread was originally meant to elbow Nitro. But, you know how that goes. So, I'll stop posting and we'll let the subject get back to nitro.

Maybe to you...not to me, partner. lol

I have no desire to rack-up post...Mr. 1500 poster. I'm defining the term gambler as a word the general public views in a negative way. This country (USA) was founded by WASP's. Trust me, gambling is not looked on favorably in this country.

Money management principles won't make the difference. You can play the roulette table all day and employ expert money management principles and you're going to lose. Why, because the odds are in the houses favor. You're gambling, the house is speculating. If you want to be a speculator...

I didn't say they were fools...but, you can't deny the general public views the term gambler in a negative way. We're all liars, too. But, doesn't it offend you, when someone calls you a liar? I just don't think gambler is synonymous with trader. I give you more credit than that.

There's a problem, though. Most people look at the word gambler in the same light as alcoholic, or fool. I think Mr. Soros deserves a little more respect than that.

Skill, my man...all skill. :D

I am not a Gambler ! LOL

KISS

The point is he's HUGE !...lol

Nice window view...is that your place?

If I believed I was just gambling, then I would have to believe my success was due to luck. And I don't believe that. I don't believe that when I have a profitable trade, it's the equivalent of landing on red or getting 3 cherries in a row. And I think the term "Professional Gambler" is...

Like I said...the topic wasn't "a sure thing" or "luck". The topic was gambling. And when the odds are in you're favor, it's not gambling, but speculating...IMHO