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This post is late. My apologies. IBM met my MM criterion for the purchase of a Put, as it opened below the real body of a down day, that is in the overbought zone of it's square. IBM reversed, and closed higher, so this trade is current in the red. An IBM 90 Feb Put was puchased, 1...

LOL...You're Welcome!

Not at all, I will be more concise in the future.

If this were an actual trade, the loss of 32 dollars would be valid. Oddi has a 3000 account. Buying 100 shares of AZO would be beyond his margin capability. The deep in the money option with no time value was chosen precisely because of it's illiquid nature. Plenty of time to react. If...

Hope you didn't stay long on IBM all day, it did reverse and close lower today. You would be looking at a loss right now. Oddi will be looking to go short again tommorrow.

Aware of all that you posted. Stopped out right away. Loss of 32 dollars.

Oddiduro is going short 100 shares of AYE at 9.63. Stop at 10.06

Oddiduro is going long on AZO at 69.05. One Jan 60 call. Stop at 68.62.

The circle of conflicts seem to have no intrinsic value, at least not to me. I use the price levels primarily. I am also aware that the indications that being given are countertrend in nature. The rules are strict, entry must be precise or there can be no trade. If IBM opens where it is...

Good, I want you to be here Wappers2, I really do.

WOW! Leaving Already??? Oddiduro hasn't made a single call, but because some people don't want to play by the negative rules you have made, now you want to take your keyboard and go home???? That says an awful lot. Just when I was getting used to the heckling.:D Oh, and as far the...

Indeed, I speak for myself. Prof. Murrey's system turned my trading around. He was getting bashed for no good reason, so I stepped in, and started swinging back. He is a good mentor, as well. Very caustic to some, but NEVER without good advice. People who cannot separate the messenger from...

I said to surfer in a private email that my sentiment had changed. MSFT was at 54 at the time. I also said that the 56 market call was very soft, but I trade what I see at the time. When I saw something different, I changed my stance immediately. As I have told others, with surfers permission, I...

Thank You for the kind words. I realized that there are some trader "ghosts" on this site, that didn't make it after several years, and now are here simply to tell others that it cannot be done. I became aware of Elite Trader after TraderBambu, a trader who trades MM in real time came to...

This is not a competition. I have a competitive nature, but to compete against surf is something that I have no desire to do. I'll leave the competitions to the chess matches that I play. The only purpose to this thread is to show beginning traders that they can double their money very...

This story is written for beginning traders, so that more traders can see profits right away, rather than have to jump through the hoops and rings that others set before them. The legendary trader, W.D. Gann, also used this when he published his trades in a popular newspaper of his day...

That is also correct, the rules are from Gann. MM explolates the rules from Gann and makes them better.

That is correct, 9 losses in a row, and it is over for Oddiduro. By the end of the story, he will mulitply his capitol by a factor of 10.

Oddiduro is a new trader, and has a small account. Therefore, he should not risk more than 10% on any one trade. He will start with an account of 3000. He will not increase his trading lot until his account has doubled. This arrangement will give Oddiduro the chance to make 10...