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You are right. There was much talk about Spanish banks (and Spain itself) going to collapse in the previous weeks, but that is not fundamental analysis. I will study your idea, thanks.

Yes both gapped up. I am analyzing a put backspread as well as that added to buying a higher call. If the risk and max loss improves then I might try this, thanks.

Thanks iceman. Yes I am approved for all trades in options except futures options. The trades were put on fundamentals criteria (Spanish bank was supposed to tank but didn't and TBT also same story). When you say sell higher strike, are we talking selling a higher strike put or call?

Thanks replies so far. I could close the BBVA position but I'd already lose its maximum so might as well wait and see. TBT also almost at maximum loss now. Was hoping someone could suggest some creative way (additional vertical, calendar legs or something) tht could minimize loses.

Hi Just wondering if any of the more experienced people here might lend a hand and recommend some additional trades I might make so as to repair or minimize losses for these which are losing now. Original trades are: TBT - Total 6 PUTS - Current stock P is $15.84...

This makes complete sense. The hard part is the patience and discipline to be watching the market so as to catch the trend, the get it and then get out in time, even if you don't grab all the winnings on the table.

From what I read in this thread there seem to be many Alessio Rastani clones who are dreaming of the next market crash.

My recommendation is to avoid them like the plague. Treat customers like crap. Inefficient, unfriendly, don't reply to emails. Basically they don't give a damn about you as a customer; they really make you feel like a number in some paper form. Maybe if you are a big customer it might be...

The series Wall Street Warriors was really worth it. http://en.wikipedia.org/wiki/Wall_Street_Warriors

I hope some benefited from my tip ! :D

Thanks for this one. One thing, you are recommending 5K - 10K hours experience of market screen time. If I take 5K hours, divide it by 6 hours daily, it means you are recommending not to trade in real until I spend 833 days just watching the screen. I am sure thbe more hours the better, but...

Any opinions of what may happen if ES looses 1291.25 soon? Not trading this one for real but looks like many of you are getting lots of free money right now !!! :D What a beautiful short right now !

Yesterday I detected this 114 range bar in ONE MINUTE !!!, in the /YM: See 08:30 EST on Friday 8th July 2011.

For what it's worth, in case anyone following this thread might be interested, I have analyzed the Mini Dow Jones Industrial Future (YM symbol) mentioned in this thread and here are some figures regarding maximum High-Low Ranges and Average True Range: 1)Max Daily Range in last 10 years: 28...

Thanks everyone, I think it's all clear now. And yes, a 100% drop would mean I'd probably be "busy" with other more urgent things... :-)

Thanks, this is something I still have to look into (hedging with options). As said in a previous post, I will picture a max. 50% loss and if I can live with that, then trade. The nucleat attack is a reasonable example. We all know we are due for a major terrorist attack sometime in Europe...

Thanks, I guess I will have to picture mentally that, in the worst case scenario I could lose say 50% of the notional value of the contract, around $31 K at the moment, but that it's highly unlikely. I will always operate with a stop, even if it's a panic stop far from entry.

Thanks, I'm not entirely new. Been trading stocks, mostly day/swing for several months in real money, much longer in paper money. With futures just paper money so far, but since I will eventually get into real trading I needed to ask this question. I always trade with stops but I know that...

Thanks for the reply. Yes, but I would still be LEGALLY liable for any losses my broker incurrs in, even if I don't fund it further right?

If one trades one contract, what is the absolute maximum loss a single trader could have? I suppose it's not limited to the $6500 initial margin. Would it be the total cost of the contract, that is 5 x the Down Jones industrial Average Index at that given moment, i.e. if the Dow Jones is...